Regulatory Alerts2022-07-07
Procedures for Extending Housing Loans
The Banking Supervision Department of the Bank of Israel issued Circular No. C-06-2719 to amend Proper Conduct of Banking Business Directive 451 regarding housing loan procedures. The update clarifies requirements for presenting directed loans in approval in principle, mandates specific data points in online calculators, and expands the definition of institutional lenders to include insurers. These amendments aim to enhance transparency for customers and align regulations with recent market changes, with various provisions taking effect between August and November 2022.
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