Regulatory Alerts2010-01-08
Added · Updated
Residential Mortgage Lending
The Hong Kong Monetary Authority issued this circular to address recent trends of aggressive pricing and excessive cash rebates in residential mortgage products by authorized institutions. The regulator mandates that banks adopt prudent pricing strategies to ensure long-term sustainability and reasonable margins while strictly complying with guidelines on cash rebates and borrower assessment. To enforce these standards, the HKMA will conduct onsite examinations to verify compliance with prudent underwriting principles and practices.
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