{"id":20362,"date":"2011-03-03T05:49:01","date_gmt":"2011-03-03T05:49:01","guid":{"rendered":"https:\/\/armbanks.am\/2011\/03\/03\/232438\/"},"modified":"2024-12-15T12:50:13","modified_gmt":"2024-12-15T12:50:13","slug":"uammm-designs-program-for-introducing-partial-insurance-of-mortgage-liabilities","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2011\/03\/03\/20362\/","title":{"rendered":"UAMMM designs program for introducing partial insurance of mortgage liabilities"},"content":{"rendered":"<p><strong>YEREVAN, March 3, \/ARKA\/. <\/strong>Gevork Bosnoyan, the executive director of the Union of Armenian Mortgage Market Members (UAMMM), said Tuesday a program designed to introduce a partial insurance of mortgage liabilities was very likely to be kicked off later this year.<\/p>\n<p>He said the core of the program is to introduce here international mortgage standards, enlarge chances of choosing available housing and give a push to home construction sector. He explained that the program calls for cutting the amount of mandatory down payment size form current 30% of the loan to 15%.<\/p>\n<p>He said if implemented this would allow borrowers to get a home buying loan in the amount of 80% of its cost. He said also the plan would apply to people with regular income which is not enough, however, to make the down payment. He further explained that the 15% of the down payment would be secured by an insurance company and that would allow banks to provide risk-free loans to potential borrowers.<\/p>\n<p>He said the project would be fully ready for introduction at the end of the third quarter. He also said that four insurance companies &#8211; Rosgosstrakh, Sil Insurance, Nairi Insurance and Cascade Insurance have endorsed the project, which has also the backing of the International Financial Corporation.<\/p>\n<p>The Union of Armenian Mortgage Market Members was founded in 2006. Its members are 20 banks, insurance and crediting organizations as well as construction firms.-0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>UAMMM designs program for introducing partial insurance of mortgage liabilities.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12149,9216],"tags":[15891,12366,12837,414],"class_list":{"0":"post-20362","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-insurance-market","7":"category-news","8":"tag-insurance-2","9":"tag-liabilities","10":"tag-uammm","11":"tag-414"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/20362","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=20362"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/20362\/revisions"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=20362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=20362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=20362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}