The Korea Housing Finance Corporation is conducting consulting via video conference ahead of the launch of the Malaysian housing pension.
[Asia Economy Yeongnam Reporting Headquarters, Reporter Hwang Du-yeol] Korea Housing Finance Corporation (HF) provided consulting services ahead of the launch of a reverse mortgage by Cagamas, a Malaysian housing finance institution.
Malaysia is set to introduce a reverse mortgage system that allows homeowners to pledge their homes and receive lifelong pension payments.
The meeting was held via video conference, arranged at the request of Cagamas to receive know-how before launching the reverse mortgage.
CEOs and working-level staff from both organizations attended and discussed topics including ▲Characteristics and operational plans of Malaysia's reverse mortgage ▲Design structure of the reverse mortgage actuarial model ▲Types of reverse mortgage payments ▲Non-face-to-face application methods for reverse mortgages.
President Choi Jun-woo stated, “The reverse mortgage system will contribute to the development of Malaysia’s housing finance market and the improvement of housing welfare for ordinary citizens.”
Since 2022, HF has been dispatching employees overseas to support the development of Malaysia’s housing finance market.
Cagamas staff will also be dispatched to HF to receive the corporation’s experience and expertise, with plans to operate a mutual personnel exchange program.
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