{"id":9569,"date":"2005-05-13T01:43:56","date_gmt":"2005-05-13T01:43:56","guid":{"rendered":"http:\/\/dr1.com\/new\/pages\/more-housing-loans-needed\/"},"modified":"2005-05-13T01:43:56","modified_gmt":"2005-05-13T01:43:56","slug":"more-housing-loans-needed","status":"publish","type":"post","link":"https:\/\/dr1.com\/news\/2005\/05\/13\/more-housing-loans-needed\/","title":{"rendered":"More housing loans needed"},"content":{"rendered":"

Savings and Loans Association have RD$24 billion pesos deposited in the Central Bank, and the Central Bank wants the S&Ls to get more of the money out on loans for housing projects. Central Bank Governor Hector Valdez Albizu asked the S&Ls to finance housing for those that need it. However, the president of the League of Dominican Savings and Loan Associations, Antonio Mendoza said that some of the current credit rules needed to be revised in order to facilitate more credits for housing.<\/p>\n

The S&Ls have RD$24.5 billion currently on deposit at the Central Bank, about 19% of the currency the bank has in circulation. At the same time the S&Ls are requiring interest rates of 22% and 25% A.P.R. on housing loans.<\/p>\n

According to analysts these rate limit the possibility for most of the population to obtain financing for new housing. The interest rates have been steady over the past few months in spite of the fact that the Central Bank has lowered the prime rate and the interest paid on certificates of deposit in the Central Bank.<\/p>\n

During a meeting with the League of S&Ls, Valdez Albizu said that the authorities are willing to collaborate with these associations and channel resources to these entities in order to stir up the market.<\/p>\n

Among the changes requested by the League of S&Ls is the requirement to give the same treatment to long term mortgage loans as to short term loans.<\/p>\n

As reported in Hoy, Mendoza pointed out that the new rules that start this coming October will require stricter evaluations of assets and liquidity risks, and this will affect the sector since they receive deposits for the short term and make loans for the long term.<\/p>\n","protected":false},"excerpt":{"rendered":"

Savings and Loans Association have RD$24 billion pesos deposited in the Central Bank, and the Central Bank wants the S&Ls to get more of the money out on loans for housing projects. Central Bank Governor Hector Valdez Albizu asked the S&Ls to finance housing for those that need it. However, the president of the League … <\/p>\n

Read more\u2026<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[224,3],"tags":[],"_links":{"self":[{"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/posts\/9569"}],"collection":[{"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/comments?post=9569"}],"version-history":[{"count":0,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/posts\/9569\/revisions"}],"wp:attachment":[{"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/media?parent=9569"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/categories?post=9569"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/tags?post=9569"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}