Jing Fang Gong Ji Jin Fa [2020] No.36
To subsidiaries of the Beijing Housing Fund Management Center, commercial banks entrusted to handle personal housing accumulation fund loan, relevant house sellers, and borrowers,Please be informed of the following matters related to the launch of new contract documents and a further streamlining of loan materials aimed at improving the efficiency and quality of services provided for personal housing accumulation fund loan (hereinafter referred to as "loans") and preventing loan fund risks.
I. Personal Housing Accumulation Fund Loan Contract (Version 2020) (hereinafter referred to as "Loan Contract", see Annex 1), Personal Housing Accumulation Fund Loan—Loan Application Form (Version 2020) (see Annex 2), Checklist for Approval of Individual Housing Loan from Housing Fund (Version 2020) (see Annex 3), and Personal Housing Accumulation Fund Loan—Contract for Obtaining Real Estate Ownership Certificate (Version 2020) (see Annex 4) have now been put into service.
II. When applying for loans and changes, applicants no longer need to fill out and submit printed application forms but must provide the original house purchase contracts to the staff for verification and record keeping of electronic image files. Staff shall enter related information into the system according to materials such as house purchase contracts and instruct applicants to sign the printed forms for confirmation. For change applications submitted through channels such as the individual online business platform, the loan acceptance department shall undertake and complete the approval within one working day.
III. Applications from defaulters subject to enforcement will not be accepted.
IV. For a personal housing accumulation fund loan (excluding the combined loan), the Beijing Housing Loan Guarantee Center (hereinafter referred to as the "Guarantee Center") shall be responsible for collateral registration, and the Management Center shall serve as the creditor of collateral. For combined loans, the commercial bank entrusted to handle the loan shall be responsible for collateral registration.
After the in-person signature for the loan has been completed for loans with phased guarantee provided by the house seller, the trustee bank shall direct the seller to sign and affix a seal as the guarantor of the loan contract and submit the loan contract and other loan documents to the loan handling department. After the loan is issued, the trustee bank shall forward the loan contract to the seller. If the trustee bank discovers during the period of guarantee provided by the seller that the registered capital of the seller is reduced, its operation has deteriorated, or there are circumstances which degrade or deprive its guarantee capacity, such as the transfer of important assets, seizure and freezing, or change or revocation of the seller, the bank shall be obliged to inform the Management Center in writing within ten working days from the date of discovery. If the house seller still cannot provide phased guarantee for the loan even after the coordination of the trustee bank, a statement shall be provided to the loan handling department, and the Guarantee Center shall undertake and provide the phased guarantee.
V. After the loan has been granted, the trustee bank shall inform the borrower within five working days, ensure that the borrower is aware of the day of release, the day of repayment, the minimum repayment amount and other repayment information, and notify the borrower to collect materials such as the loan contract. If the borrower chooses mail delivery, the trustee bank shall undertake to mail the loan contract via EMS to the address provided by the borrower. The trustee bank must keep records of the notice, contract collection, and mailing for future checks.
This notice will hereby take effect as of July 1, 2020. This document also serves as a reference for implementation by the Subcenter for Institutions Directly Under the CPC Central Committee, the subcenter for central national institutions, and the Subcenter for China Railway - Beijing.
Annexes:
1. Personal Housing Accumulation Fund Loan Contract (Version 2020)
2. Application Form for Personal Housing Accumulation Fund Loan (Version 2020)
3. Checklist for Approval of Personal Housing Accumulation Fund Loan (Version 2020)
5. Comparison of New and Old Instruments and Documents
Beijing Housing Fund Management Center
June 30, 2020
(All information in this document is authentic in Chinese. English is provided for reference only. In case of any discrepancy, the Chinese version shall prevail.)