INFORMATION OF PRESS SERVICE

As is known, Azerbaijan Mortgage Fund realizes the appropriate measures in order to following actions continuously in the country:

Developing the mechanism of mortgage lending according to intornational standards;

Improving the level of service to persons who benefit from mortgage loans;

Realization of wide application of information technologies.          

          The Fund has successfully realized the "Electronic Mortgage System" (EMS) and already put into operation for several years. All technical procedures are realized real- time mode with the financial market participants- Authorized credit organizations, Insurance and Evaluation companies.

          At the same time, EMS fully automated people's appeal to Commissioner Financial Institutions on mortgage loans. This, in turn serves to following actions:

The fast formalization of lending process;

İncreasing transparency;

Ensuring of turning;

Efficient use of time;

And implementation of  work with high- quality.

          “The Governmental Payment Portal” was created for collection of tax, duty, rents and other public payments of the Central Bank. And as a result of the integration of “Electronic Mortgage System”, the monthly payments on mortgage loans are realized on real-time (online) mode more than a year.

          As a functional part of the project, the realization of insurance payments on mortgage loans in real- time (online) mode has been completed successfully within the framework of the 2^nd phase. This system creates opportunity to every mortgage payer for realizing the payments of estate and life insurance payments on “Government Payment Portal” directly. Also, the system suggests the realizing installment or annual insurance payments for borrower. At the same time, the system will require the implementation of insurance payments, if the time of insurance liabilities of borrower is late. Only after the insurance payment, borrower can realize the monthly payment.

The realizing of insurance payments on mortgage loans will be started from the date of 01 March, 2016 by “Governmental Payment Portal”.

“The Electronic Mortgage System” which is applied by Fund, will help to realize the estate and life insurance payments by borrower on time.

For additional information, you can contact with us.  Tel: (012 598 20 08)