Circular No. 3747 — Conditions for Registration of Information Regarding Guarantees Constituted on Real Estate

The Collegiate Board of the Central Bank of Brazil, in a session held on January 28, 2015, based on Article 9 of Law No. 4,595, of December 31, 1964, and Article 3 of Resolution No. 4,088, of May 24, 2012,

RESOLVES:

Art. 1 Financial institutions and other institutions authorized to operate by the Central Bank of Brazil must observe the provisions of this Circular for the purpose of registering, in accordance with Resolution No. 4,088, of May 24, 2012, information regarding guarantees constituted on urban real estate, excluding undeveloped land, in credit operations contracted from the entry into force of this Circular.

§ 1 The registration referred to in the caput applies to financing operations for the acquisition of residential real estate and to loans to natural persons secured by residential real estate, including operations resulting from portability, and must contain, at a minimum, the following information regarding:

I - creditor:

a) corporate name; and

b) registration number with the National Registry of Legal Entities (CNPJ);

II - seller(s), where applicable:

a) name or corporate name; and

b) registration number with the Individual Taxpayer Registry (CPF) or with the CNPJ;

III - debtor(s):

a) name or corporate name; and

b) registration number with the CPF or with the CNPJ;

IV - credit contract:

a) contract code in the Credit Information System (SCR);

b) modality and submodality codes in the SCR; and

c) portability code, where applicable; and

V - real estate on which the guarantee was constituted:

a) registration number at the Real Estate Registry Office;

b) identification of the Real Estate Registry Office;

c) registration number of the guarantee at the Real Estate Registry Office;

d) grade of the guarantee constituted at the Real Estate Registry Office, where applicable;

e) full address, with the Postal Addressing Code (CEP);

f) date and value of the appraisal;

g) date and purchase and sale value, where applicable;

h) type of property, classified as:

1. house; or

2. apartment;

i) type of development, classified as:

1. subdivision;

2. condominium; or

3. isolated;

j) state of conservation, classified as:

1. good;

2. regular; or

3. poor;

k) finish standard, classified as:

1. high;

2. normal;

3. low; or

4. minimum;

l) total and private use areas, in square meters;

m) number of bedrooms;

n) number of private parking spaces; and

o) structure of condominium services and improvements, if any, classified, regarding the standard, as:

1. high;

2. normal;

3. low; or

4. minimum.

§ 2 In the event of a guarantee constituted on a property classified, regarding the type of development, as isolated, the registration referred to in § 1 must additionally contain the following information regarding the topography of the land where the property is located:

I - land area, in square meters; and

II - frontage(s), in meters.

§ 3 The information referred to in §§ 1, item V, and 2 must be registered in accordance with the information contained in the property appraisal report.

Art. 2 The format of the information provided in Art. 1 must allow for reconciliation with the information sent to the SCR, even if such information is not provided to the respective system individually.

Art. 3 The Department of Regulation of the Financial System (Denor) and the Department of Monitoring of the Financial System (Desig) are authorized to establish the operational procedures necessary to comply with the provisions of this Circular.

Art. 4 This Circular enters into force on February 1, 2016.

            Anthero de Moraes Meirelles  
                    Director of Supervision and Regulation