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EMRC News (2009 - 2008)

 
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November 4, 2009: EMRC extended Taamir Mortgage Company's refinance line to become L.E. 150 Million

On November 4, 2009 Taamir Mortgage Company obtained EMRC's approval to extend their refinance line by an additional L.E. 100 Million to bring their total to L.E. 150 Million under the same Master Refinance Agreement signed in March 30, 2008.

June 22, 2009: EMRC signed a seccond Master Refinance Agreement with Tamweel Mortgage Finance Company of Egypt

On June 22, 2009 Egyptian Mortgage Refinance Company had signed a second Master Refinance Agreement with Tamweel Mortgage Company to extend their refinance line by an additional L.E. 50 Million bringing their total to L.E. 100 Million. Tamweel continue to focus on growing their low income mortgage portfolio being their target market.

August 31, 2008: EMRC signed Master Refinance Agreement with Tamweel Mortgage Finance Company of Egypt

Tamweel Mortgage Finance of Egypt signed a Master Refinance Agreement with EMRC for the amount of EGP50 Million. According to the terms of the agreement, EMRC will provide funding in the form of a long-term fixed rate loan, collateralized by a portfolio of residential mortgage loans currently financed by Tamweel . Tamweel goal is to expand among Egypt and ensure mortgage finance options are available to all client segments. EMRC is committed in its efforts to continue providing funds necessary for mortgage finance companies like Tamweel to carry on offering mortgage loans to Egyptian.

May 26, 2008: EMRC signed Master Refinance Agreement with Egyptian Housing Finance Company (EHFC).

Egyptian Housing Finance Company signed a Master Refinance Agreement with EMRC for the amount of EGP 50million. EHFC is the second company to venture into this industry and has provided insight and awareness of consumer conduct and assisted in the shaping of the mortgage finance industry primarily through recognizing inefficiencies and working to provide solutions to increase value and better service the customer. EHFC has been especially active in lobbying for changes in mortgage finance law and its executive regulations.

March 30, 2008: EMRC signed Master Refinance Agreement with Taamir Mortgage Finance Company.

EMRC signed its second Master Refinance Agreement with Taamir Mortgage Company for the amount of EGP50 Million. Taamir Mortgage Finance Company seeks to enhance accessibility to affordable housing for the medium and modest income borrowers in Egypt. Furthermore, Taamir has far reaching goals for expanding and improving the housing finance market in Egypt and through the synergetic relationship with EMRC this becomes a shared goal.

March 05, 2008: EMRC signed a Master Refinance Agreement with Egyptian Arab Land Bank.

A Master Agreement was signed between Mohammed Salah Salem, of the Egyptian Arab Land Bank (EALB) and Iman Ismail, of the Egyptian Mortgage Refinance Company (EMRC) in the amount of EGP 200million. This is the first signing of this type in Egypt. What it signifies is the government and private sector recognition for the growing demand in social housing and the long-term mortgage financing necessary to meet this demand.


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