Collection of the Biess in mortgage loans fell by 5.8%, while in the unsecured increased by 6.5% | Economy | News

According to Biess, the impact on the low collection is due to the loss of employment and a reduction in wages.

March 24, 2021 – 06h10

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A drop in revenue in mortgage loans was what the Bank of the Ecuadorian Institute of Social Security (Biess) registered during the past year.

In 2019 between the months of March and December it raised $ 924,000 million, but in the same period of 2020 it fell to $ 871,000 million, that is, a reduction of 5.8%.

Another mechanism that also had a decrease were the pledge credits. In the period from March to December 2019, this product registered a collection of $ 112,000 million and by 2020 it reached $ 70,000 million, which means a decrease of 37.5%.

However, in unsecured loans the movement was different. Between March and December 2019 it received $ 1,998 million and in the same period of 2020 it was $ 2,128 million, an increase of 6.5%.

According to Biess, the impact on the low collection of mortgages and pledges it was reflected in the loss of employment and reduction of wages.

Biess plans to place $ 500 million in mortgage loans, although it slightly reduces unsecured loans

The entity mentions that there are options for unemployed debtors such as refinancing or restructuring their mortgage loan, as long as they demonstrate that they have the necessary income so that they can pay the fees of the process they request.

The impact of the low collection is the result of increase in arrears and in three months of 2020 there was a rebound.

It was May, June and August that there was a monthly variation of 0.74%, 1% and 0.69%, respectively, which compared to 2019 was 0.21%, 0.10% and 0.07%.

Consequently, the default increased from 8.10% in December 2019 to 13.09% as of December 2020.

And although some citizens for different reasons have found it difficult to cancel these types of loans, the savings helped Alfredo, 39, to meet this obligation.

He has a 25-year mortgage loan, of which he is paying off for ten years. And although he changed jobs in 2020, he was not affected by not covering the debt of the $ 50,000 loan, at monthly installments of $ 500.

During 2020, the Biess budget was $ 400,000 million in mortgage loans, $ 2,830 million in unsecured and $ 95,000 million in pledges.

By court ruling, affiliates with mortgages in Biess must choose an insurance company or confirm the assigned one

And for this year it amounted to $ 500,000 million in mortgage loans, it dropped to $ 2,800 million for unsecured and it went up to $ 150,000 million in collateral.

Meanwhile, the Biess registers more novation operations of unsecured loans in affiliates than of mortgages.

During 2020, 615,058 novations were carried out in unsecured companies, while between March of last year and February 28, 2021, 156 new mortgage operations were processed, 351 were restructured and 86 refinanced.

While in pledge loans there were 20,212 renewals in 2020.

Alejandra last Monday made a novation of an unsecured loan to fix the water pipe, electricity cables, paint her house and even save a little for emergencies.

She performed a novation for a little over $ 4,000 at 60 installments with an interest rate of 12.84%. He affirms that he does not alter his budget, as he continues to pay the same installment that does not exceed $ 100.

On the other hand, the Biess plans to carry out the Housing Fair in person and virtually. It will take place at the Palacio de Cristal from today until Friday from 3:00 p.m. to 8:00 p.m.

What is it?

fair

The Biess Guayaquil Housing Fair is a space that will bring together in a single platform more than 60 real estate projects proposed by builders and developers so that affiliates and retirees know the plans in 360 tours, schedule appointments and can prequalify their mortgage loan with the Biess as if they were visiting the fair.

Modality

The event will take place in face-to-face and virtual mode. In person, biosafety and capacity measures will be applied.

When?

crystal Palace

The Biess Guayaquil Housing Fair will be held from March 24 to 28, 2021, in face-to-face and virtual mode.

For the face-to-face mode, it will be at the Palacio de Cristal from today to Friday, March 26, from 3:00 p.m. to 8:00 p.m. And on Saturday and Sunday from 11:00 to 20:00.

Visitors will be able to get their courtesy pass on the website http://feriabiess.com.ec/pase-de-cortesia-gye-2021/, there they record the following data such as: name, email, telephone, ID and sector where you live.

How?

Events & Events

This real estate fair is part of the new face-to-face events that the Bank of the Ecuadorian Social Security Institute (Biess) has planned, within the framework of the Biess 2021 Housing Fair to promote the construction sector. Citizens can now register on the website. The next fair will be held in Quito from April 14 to 18. (I)

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