Resolution CMN No. 4985 — Provisions on the Establishment and Operation of Mortgage Companies

Resolution CMN No. 4985 establishes the legal framework for the constitution and operation of mortgage companies, requiring them to be organized as joint-stock companies and obtain authorization from the Central Bank of Brazil. The regulation defines their corporate purpose to include granting financing for residential and non-residential real estate, purchasing and administering mortgage-backed credits, and issuing specific financial instruments such as mortgage letters and real estate credit letters. It also permits these entities to act as fiduciary agents, administer real estate investment funds if authorized by the CVM, and utilize interfinancial deposits and loans. The resolution explicitly revokes four prior regulations and entered into force on April 1, 2022, while removing the previous minimum capital requirement of R$3,000,000.00.

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RESOLUTION

CMN NO. 4,985, OF FEBRUARY 17, 2022

Provisions on the establishment and operation of mortgage companies.

The Central Bank of Brazil, in accordance with Article 9 of Law No. 4,595 of December 31, 1964, makes it public that the National Monetary Council, in a session held on February 17, 2022, based on Article 4, item VIII, of the same Law,

R E S O L V E D:

CHAPTER I

OBJECT AND SCOPE OF APPLICATION

Article 1. This Resolution provides for the establishment and operation of mortgage companies.

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Lineage: Superseded

amendssupersedesissued underrefers toproposed or not in RegAlertarrows run from the older text to the one that changes it

Timeline

Amended 1 time · last 2025-11-03

2025-11-03BCBJoint Resolution No. 14 — Methodology for Calculating Minimum Paid-in Share Capital and Net Equity Limits for Financial Institutionssupersedes

This document supersedes: Resolution CMN No. 2122 — Approves the constitution, organization and operation of mortgage companies

Source: Banco Central do Brasil — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works