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Mortgage guarantee venture by March 2012, says NHB chief.
Byline: Our Bureau
aWe are in the final lap' of the four-way joint venture: R. V. Verma
The National Housing Bank (NHB) has identified a technical partner for its mortgage guarantee foray and expects this four-way joint venture to take off by March next year.
A mortgage guarantee company provides credit guarantee to housing finance companies and banks on behalf of home loan borrowers. The guarantees are invoked in case of default by home loan borrowers.
aoeWe are in the final lap. We are at the last stage of the deala, Mr R. V. Verma, Chairman and Managing Director of NHB said here on Monday.
US-based entity
The technical …
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