Clipping of news on Brazilian Culture, Law and Citizenship
22/04/2014
This article was translated by an automatic translation system, and was therefore not reviewed by people.
transparent image
Circular published in the Official Gazette determines criteria for portability mortgage loan with funds from FGTS Tânia Rego / Brazil Agency
The issue today ( 22 ) of the Official Gazette of Uniãotraz issued Circular 650 which sets standards and operating procedures for porting mortgage with funds from the Guarantee Fund for Length of Service ( FGTS ) . The circular is the CEF , operating agent of the fund. Portability allows bank customers to request the transfer of loans from one bank to another that offers the lowest rate of interest .
The circular lists the operating procedures after FGTS Board of Trustees has approved in March portability . Last year , the Law 12.810/13 and Resolution 4.292/13 of the National Monetary Council established new rules on portability of credit, but approval of the FGTS Board of Trustees for the specific case of financing where banks use the background was needed as source of funds to provide loans .
According to the circular , banks can reduce the gain on the interest and management fee charged to customers to encourage portability . The value and duration of the transaction may not exceed the outstanding balance and the remaining term of the loan . Another rule is that the system of payment on the operation of the credit under portability can not be changed .
If there is a discrepancy between the information provided by banks , Caixa may reject the transfer of the debt or request supplementary information . According to the circular , the reasons that may lead to negative transfer of debt are not receiving information from the banks involved and inconsistent supply of cadastral and financial data .
The circular emphasizes that the agreed operational cost between financial institutions to make the portability can not be charged or passed on to the debtor .
The new portability rules enter into force on the 5th .
Source : Brazil Agency
Our news are taken in full from our partner sites . For this reason , we can not change their content even in cases of typos .
This article was translated by an automatic translation system, and was therefore not reviewed by people.