In the area of refinancing of housing loans
During the first quarter of 2024, JMRC continued its lending activity and signed (3) refinance loans agreements with (3) financial institutions for an amount of (25) million, therefore the number of agreements signed since inception increased to (373) agreements, and the total refinance loans granted since inception increased to JD (2. 372) billion, the outstanding refinance loans balance as at 31/03/2024 amounted to JD (483) million, these loans were granted for different terms ranging from (1-7) years.
It’s known that JMRC grants refinance loans guaranteed by first degree mortgages duly transferred in JMRC favor, the percentage of estimated value of the guarantees provided to JMRC was (253.312%), the percentage of the value of mortgages was (193.158%), and the percentage of refinanced housing loans balances was (141.930%) of the value of refinance loan balances.
The following diagram shows the growth of the refinancing loans from 2014 – 31/03/2024:-
