BC sets rules to reduce the value of real estate that will be financed by banks

a National Monetary Council (CMN), Thursday (24), approved a resolution setting the rules for the collection of financial institutions for Evaluation fee and re-evaluate Properties which will be financed by banks. Therefore, the prior consent of the customer is determined regarding the provision of the warranty evaluation or re-evaluation service.

The statement will also be provided to the client with a breakdown of the costs and expenses directly incurred in the appraisal or reassessment. Two other decisions are to hand over to the client an extract of the appraisal report or an equivalent document, containing the technical analysis of the real estate guarantee; In addition to contracting the credit process to which the guarantee is linked, unless the non-contracting was issued by a decision of the customer.

With these measures, CMN and Banco Centram are seeking to provide greater transparency regarding financing fees and loans secured by real estate. It has also been determined that the value of the evaluation fee corresponds to the direct costs actually incurred in providing this service.

“It is expected that the new system will reduce amounts charged to borrowers as an assessment of collateral, and direct to interest rates operations any cost or expense not directly related to the service already provided,” BC explains.