A lawsuit against a mortgage bank and its consequences
Yesterday a very significant event happened. For the first time a lawsuit was filed against the mortgage bank about the illegality of commissions .
The defendant is quite a good bank Rusevrobank, a third party representatives Rospotrebnazdor. What is important, we are not talking about commissions for maintaining a loan account, but about the commission for issuing a loan. Moreover, the commission is quite small in the mortgage market - at 0.8% of the loan amount. And one-time.
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It seems to me that the Blockpost organizations are simply trying to promote themselves in such an idiotic way, because there is a significant difference between the terms of consumer loans and mortgage loans. And there is a bardar in consumer lending and quite a decent situation in mortgage loans.
The notorious fee for issuing 0.8% of the loan amount at a rate of 11% and a loan term of 20 years increases the effective rate by 0.12% per annum. Those. it's not about the difference in two times between the declared and effective rates as with consumer loans, but about twelve hundredths of a year, damn it!
I do not personally know those who initiated this lawsuit, therefore I avoid giving definitions like “not knowing what idiots are doing,” but it seems to me that the consequences of a win can be tragic.
Of course, this is not a case-law judicial system, but a gain in this case may entail a wave of lawsuits. If the commission is simply illegal, what next?
Many mortgage banks earn not on annual interest, but on fees for issuing, then transferring a mortgage loan. Moreover, these are usually small and / or regional banks - they will have to revise the scheme of work and, possibly, abandon the mortgage direction.
If the courts decide on the return of commissions, then this is generally an apocalypse.
Those small banks will simply go bankrupt, while large and medium-sized mortgage banks will incur substantial losses, which future borrowers will have to pay due to the increased mortgage rate per annum.
What is the point so destabilize the mortgage ???
The defendant is quite a good bank Rusevrobank, a third party representatives Rospotrebnazdor. What is important, we are not talking about commissions for maintaining a loan account, but about the commission for issuing a loan. Moreover, the commission is quite small in the mortgage market - at 0.8% of the loan amount. And one-time.
')
It seems to me that the Blockpost organizations are simply trying to promote themselves in such an idiotic way, because there is a significant difference between the terms of consumer loans and mortgage loans. And there is a bardar in consumer lending and quite a decent situation in mortgage loans.
Consumer loans are often unsecured, therefore the bank has a high risk of default and the bank is trying to maximize interest for this very risk. And since it is psychologically difficult for a consumer to take a loan at 40% per annum, then these annual figures are masked by additional collections, commissions for that and for that. This is bad, because, firstly, the consumer must be aware of how much he takes, and secondly, bona fide borrowers do not have to pay for potentially unscrupulous. But here everything is solved by a combination of streamlining the legislative and toughening the lives of unscrupulous borrowers.
I recommend to read:
The initiative to limit the amount of additional commissions on consumer loans .
Three categories of bankruptcy of individuals according to the Ministry of Economic Development and Trade .
Mortgage loans are secured with real estate, the risks there are somewhat lower than with consumer loans and there is no need to mask additional fees. When only the mortgage broker EasyCredit began to work, in 2004, mortgage lending programs came across with a declared rate of X% and + Y% for maintaining a loan account. We simply did not work with such banks in order not to substitute clients. However, now much has changed and fees have become one-time.
The notorious fee for issuing 0.8% of the loan amount at a rate of 11% and a loan term of 20 years increases the effective rate by 0.12% per annum. Those. it's not about the difference in two times between the declared and effective rates as with consumer loans, but about twelve hundredths of a year, damn it!
I do not personally know those who initiated this lawsuit, therefore I avoid giving definitions like “not knowing what idiots are doing,” but it seems to me that the consequences of a win can be tragic.
Of course, this is not a case-law judicial system, but a gain in this case may entail a wave of lawsuits. If the commission is simply illegal, what next?
Many mortgage banks earn not on annual interest, but on fees for issuing, then transferring a mortgage loan. Moreover, these are usually small and / or regional banks - they will have to revise the scheme of work and, possibly, abandon the mortgage direction.
If the courts decide on the return of commissions, then this is generally an apocalypse.
Those small banks will simply go bankrupt, while large and medium-sized mortgage banks will incur substantial losses, which future borrowers will have to pay due to the increased mortgage rate per annum.
What is the point so destabilize the mortgage ???
Source: https://habr.com/ru/post/3868/
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