New Origination Limits Set for Each Loan Brokerage Agency Starting June 26
Shinhan and NH Nonghyup Previously Suspended Mortgage Loans Through Brokers Until July
Hana Bank has decided to set new origination limits for each loan brokerage agency as part of its household loan management strategy.
According to the financial sector on June 25, Hana Bank will begin assigning new origination limits to each loan brokerage agency starting June 26.
A Hana Bank official stated, "As part of autonomous household loan management, we plan to proactively assign limits to each loan brokerage agency in order to stabilize the housing market and maintain stable financial supply throughout the year."
Loan brokers refer to both loan brokerage agencies and loan consultants who have contracts with banks and perform tasks entrusted by the banks, such as loan application consultations, receiving applications, and submitting them to the bank.
Banks sometimes restrict loan applications through loan brokers when household loan management becomes necessary.
Previously, NH Nonghyup Bank and Shinhan Bank suspended mortgage loan applications through loan brokers due to the exhaustion of limits for loans to be executed by July.
Since June 18, SC First Bank has reduced the maximum term for mortgage loans from 50 years to 30 years and has also decreased its preferential interest rate by 0.25 percentage points.
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