IMGC | Process

1

Due Diligence

Due diligence of the lender portfolio, credit policies, underwriting & collection process.

2

Lender Requirement Review

Assess lender requirements like exploring new markets, cover on an existing book, securitization, etc. & suggest/ create the most suitable product available.

3

Pricing Proposal

Create detailed proposal basis requirements with pricing.

4

Underwriting

Portfolio Cover (Bulk)

The appraisal includes validation of borrower details, credit scores, property valuation, and LTVs, among others. It is done on a contract basis or a sample basis. The appraisal includes validation of borrower details, credit scores, property valuation, and LTVs, among others.
Lender & IMGC sign the mortgage guarantee agreement governing the business relationship.
The mortgage guarantee fee is borne by the lender.

Retail Product (Flow)

Lender & IMGC sign the master policy which governs the business requirements and sets forth the requirements for both parties
IMGC sets norms & data requirements. Contracts meeting IMGC’s internal credit screens are approved for mortgage guarantee
IMGC to appraise the loans based on credit norms set forth by the master agreement.
The mortgage guarantee fee is usually built into the emi of the borrower

5

Payment of Claims

The lender files a claim 90 days after the EMI is overdue or the account turns NPA.
IMGC checks for compliance at the lender’s end concerning the collection procedures & documentation of the customer.
Once the claim is approved, IMGC will repay the EMIs of the housing loan until the earlier of the two below-
It provides the backing of a mortgage guarantee on each loan along with a complete financial appraisal.
- Settlement of the incurred loss before disposing of the property; Or
- The amount of EMIs paid equals the maximum amount of coverage agreed upon under the mortgage guarantee agreement.