The City Bank raised the maximum amount of its mortgage loans
During the summer months, the entity had an increase of almost 100% in the placement of mortgage loans against a year ago
The beginning of 2018 shows a growth in the placement of mortgage loans in the financial system. In this context, the City Bank reported that in January and February, lending levels increased compared to the 2017 average, mainly driven by UVA lines (Purchasing Value Units). Also, since January, the Bank has raised the maximum amount to be lent, from $ 2,000,000 to $ 2,800,000.
During the summer months, even though it was a holiday period with less activity, there was an almost 100% increase in the placement of mortgage loans against a year ago. In January, the City granted 492 loans and 150 in the first week of February.
Also, the increase in loan applications in the last month anticipates that this trend would be sustained in the coming months. Specifically, in January, more than 500 requests were made, almost 60% more than the consultations made a year ago. After having granted a total of 5,000 mortgage loans in 2017, with a year-on-year growth of 80%, it is expected that, in the 2018-2019 period, another 15,000 families will sign their new home.
The beginning of 2018 shows a growth in the placement of mortgage loans in the financial system. In this context, the City Bank reported that in January and February, lending levels increased compared to the 2017 average, mainly driven by UVA lines (Purchasing Value Units). Also, since January, the Bank has raised the maximum amount to be lent, from $ 2,000,000 to $ 2,800,000.
During the summer months, even though it was a holiday period with less activity, there was an almost 100% increase in the placement of mortgage loans against a year ago. In January, the City granted 492 loans and 150 in the first week of February.
Also, the increase in loan applications in the last month anticipates that this trend would be sustained in the coming months. Specifically, in January, more than 500 requests were made, almost 60% more than the consultations made a year ago. After having granted a total of 5,000 mortgage loans in 2017, with a year-on-year growth of 80%, it is expected that, in the 2018-2019 period, another 15,000 families will sign their new home.
"The increase in loan applications in the last month anticipates that this trend would be sustained in the coming months"
The president of the entity, Javier Ortiz Batalla, said that "in Argentina, the mortgage market has a lot of potential to continue developing, from 1.2% of the GDP that it currently represents. We started the year very well in terms of placement and applications. And we are introducing changes through the implementation of new technologies, to continue being leaders in mortgage loans and reach the goal of 20,000 loans in the period 2017-2019, which is the management commitment of Horacio Rodriguez Larreta as head of government of the city, in order to facilitate access to housing. "
The growing demand for this credit line is explained by the advantages of the product in UVA, with greater accessibility and a better relation between income and income compared to the costs of rents. The latter, according to different private surveys, were positioned up to 10 points above the increase in the value of the UVA in 2017. On the other hand, according to the Indec, wages grew 27.5% during the past year, ranking above 24 , 8% inflation recorded by the CPI (consumer price index) in the same period, therefore also above the increase in UVA.
The president of the entity, Javier Ortiz Batalla, said that "in Argentina, the mortgage market has a lot of potential to continue developing, from 1.2% of the GDP that it currently represents. We started the year very well in terms of placement and applications. And we are introducing changes through the implementation of new technologies, to continue being leaders in mortgage loans and reach the goal of 20,000 loans in the period 2017-2019, which is the management commitment of Horacio Rodriguez Larreta as head of government of the city, in order to facilitate access to housing. "
The growing demand for this credit line is explained by the advantages of the product in UVA, with greater accessibility and a better relation between income and income compared to the costs of rents. The latter, according to different private surveys, were positioned up to 10 points above the increase in the value of the UVA in 2017. On the other hand, according to the Indec, wages grew 27.5% during the past year, ranking above 24 , 8% inflation recorded by the CPI (consumer price index) in the same period, therefore also above the increase in UVA.
Faced with a demand in constant ascent, the entities seek to improve the customer experience, in terms of financial product quality, granting times and simplicity of the processes. In this regard, since the end of 2017, the City Bank implemented innovative measures that reduce costs and shorten deadlines to minimize exposure to different market variables, such as:
With respect to the average times, the implementation of these initiatives managed to shorten the deadlines by 30%, going from 45-50 days to the current 30 days (from the presentation of the documentation to the deed).
- The exemption, in most cases, from having to carry out the appraisal of the property.
- The increase in the maximum amount to be lent, from $ 2,000,000 to $ 2,800,000.
- The assignment of the clerk intervening at the beginning, as soon as the credit is approved, which allows to advance in parallel with the documentation for writing.
- The application of new technologies:
- New Self-Management Portal that offers the possibility of interacting with simulators, which analyzes online the credit profile of the client and gives access to the main documents that must be presented at the moment of beginning the process, and grants the shifts to be attended in person.
- The creation of a ChatBot artificial intelligence to advise, from the website of the bank, who consult for mortgage loans. This virtual assistant, named Alicia, was developed together with Microsoft Argentina. Since its launch, its knowledge base has grown almost 40%, to provide an increasingly broad service that responds to every need and concerns of those interested in mortgage loans.
With respect to the average times, the implementation of these initiatives managed to shorten the deadlines by 30%, going from 45-50 days to the current 30 days (from the presentation of the documentation to the deed).
Top 4 Best Cryptocurrencies and WhY
Bitcoin was “discovered” in 2008 in the middle of one of the worst financial crises in recent memory. Largely due to irresponsible practices within the United States housing market, this economic downturn shook not only the United States, but rippled throughout the world economy and is often considered a major factor in the subsequent European debt crisis. In a convoluted chain of risky lending, loans based on the high default rate of subprime mortgages (essentially high-risk loans) were bundled and sold off to other financial institutions. With the inevitable collapse of this house-of-cards lending schema, several large financial institutions found their assets devalued, and investment bank Lehman Brothers Holdings, a significant perpetrator of subprime mortgage lending and holder of many of these debts, filed for Chapter 11 Bankruptcy in September, 2008. Though US federal bailouts prevented the further collapse of large financial institutions, preventing an implosion of the global economy, the stock markets took a steep dive, straining the assets and investments of many organizations and individuals.
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Let's start with Bitcoin because everybody knows that it's the first. The first blockchain it solves the problem of duplication manipulation replication. Which is fantastic the team there's really no team around it but they have great developers of globally working on that. It solves the problem of duplication, manipulation, and add value to the code and Alec. You transfer code around the world with intrinsic value and exact more than just currency. You can add a contract to that, you can add deeps, you can add a property, cause that there are so many different variants of value that get added to that code and bitcoin. There's a huge support network behind it, there are more than 14 billion dollars inside of it right now. So it's going nowhere and it solves a true problem I consider a Bitcoin digital gold. I really don't consider it the true cryptocurrency fast transaction I consider it a hedge and it does exactly what it's supposed to do currently. So I don't see that going anywhere I love the project I'm always going to be supporting Bitcoin it is the first it has helped so many people, in fact, people forget about this WikiLeaks would not be here if it wasn't for Bitcoin.
CoiniRA will allow retirement account holders to buy, sell, or hold Bitcoins and other cryptocurrency assets and generate tax-deferred or tax-free gains, in the case of a Roth IRA. The primary advantage of using a self-directed IRA LLC to make Bitcoin investments is that all income and gains associated with the IRA investment grow tax-deferred or tax-free in the case of a Roth IRA.
- BITCOIN
Let's start with Bitcoin because everybody knows that it's the first. The first blockchain it solves the problem of duplication manipulation replication. Which is fantastic the team there's really no team around it but they have great developers of globally working on that. It solves the problem of duplication, manipulation, and add value to the code and Alec. You transfer code around the world with intrinsic value and exact more than just currency. You can add a contract to that, you can add deeps, you can add a property, cause that there are so many different variants of value that get added to that code and bitcoin. There's a huge support network behind it, there are more than 14 billion dollars inside of it right now. So it's going nowhere and it solves a true problem I consider a Bitcoin digital gold. I really don't consider it the true cryptocurrency fast transaction I consider it a hedge and it does exactly what it's supposed to do currently. So I don't see that going anywhere I love the project I'm always going to be supporting Bitcoin it is the first it has helped so many people, in fact, people forget about this WikiLeaks would not be here if it wasn't for Bitcoin.
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What aetherium? Do the true problems it solves this solves the problem of legal contracts online? Now you can have so many different variations of contracts. Multi-state contracts online which can help many different people eliminate many middlemen businesses and associations that take from your transaction for no good reason just because exists in the middle of the transaction. I think in the next couple years you're going to see more ubiquitous versions of usage for aetherium with all the different enterprises out there. So yeah I absolutely love it, I tell everybody to get involved with aetherium whether you want to buy one coin whether they want to buy the app coins on top of a theorem or whether you want to pay attention but it's one of the blockchains really solving a problem that really brings up amazing culture and amazing developers all around the world together.
- MANERO
Not too many people have heard about Manero. Obviously, almost all people who are not in the crypto space didn’t know about Manero but most people who are in crypto space heard about it. I've heard about Manero first thing what I love about Manero is a technology it's really good tech now. So looking at this, the technology it is very it is really good technology and solves the real big problem, okay and this is what the problem is secrecy. It's really good at keeping these secrets there's the purpose if we look at for example alphabet people use Manero on there so people all around the world who may be under dictatorships of governments who may be inserting regimes around the world that cannot speak, say, or participate in commerce. What they want to do they can be using Manero to keep their identity hidden and also to join the global economic engine. So my narrow serves the purpose is serving under privilege around the world who may not be in a privileged position to have an economic benefit in their life.
- FACTUM
Factum is solving some serious problems, they have amazing technology and the amazing team behind them. So what factum is trying to do is they're trying to digitize physical documentation to put them on the blockchain to make it transparent. They're also trying to optimize the supply chain with the documentation, so showing you know the digitalize density from point A to digital identity for point B they've worked with their work where major enterprises major corporations around the world and like I said they have a very robust team and they're actually solving a real problem a problem with transparency with documentation a problem with digital identity with documentation when it comes to doing business from a b2b aspect.
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