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National Housing Authority in Thailand Agrees to Securitise Some Assets.
Byline: Wichit Sirithaveeporn
Sep. 7--The National Housing Authority has agreed to securitise property assets worth 500 million baht through the Secondary Mortgage Corporation.
NHA governor Sukree Coompanthu said the deal would help the housing authority reduce its funding costs.
The state agency is a major player in the property markets and has bought billions of baht in properties recently for development as low-income housing.
Mr Sukree said that next year the authority would raise additional funds through securitisation as 3.8 billion baht of NHA-issued debt is scheduled to mature.
He said securitisation would help save as much as two percentage points annually on financing costs.
The NHA now has some 13,000 clients making mortgage payments, a figure estimated to rise to 20,000 if the authority is able to sell all the properties in hand.
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