The information was offered within the framework of the real estate fair that Banco BHD held in New York, in which it highlighted the incorporation of digitally signed mortgage loan contracts in the process of acquiring a property.
New York, USA. – The Association of Multiple Banks of the Dominican Republic (ABA) and Banco BHD have developed the first pilot for the incorporation of digitally signed mortgage loan contracts in the process of acquiring a property, which represents a milestone in the country’s financial history and a commitment to digitalization as a tool for financial inclusion.
BHD Bank led the first phase of this pilot, consisting of the signing of a purchase and sale contract and mortgage loan through a digital channel, including the digital signatures of the representatives of Fiduciaria BHDthe construction companies and the buyers located abroad.
The information about this pilot was offered within the framework of the real estate fair that this banking entity recently held in New York, United States.
Both executives of the ABA and BHD They specified that the objective of this initiative is to establish the critical route to materialize the acquisition of financial products, including the possibility of purchasing homes, through a digital channel, guaranteeing legal security for all parties. With this pilot, the first steps are taken that will allow Dominicans abroad and in the country, interested in acquiring financial products, to do so remotely.
“This facility reduces operating costs related to such transactions, allowing all Dominicans, including residents abroad, greater access to financial and real estate services in an agile and secure manner, at the speed of a click. Without this project, services had to be provided exclusively in person, meaning that Dominicans had to come from abroad to sign documents and empower third parties to speed up the procedures. This not only makes the service more expensive, it also reduces the agility of the obtaining process,” said Rosanna Ruíz, executive president of the ABA.
The digital signing of mortgage contracts and other financial products will be possible with the incorporation of digitally signed documents through qualified certificates, in accordance with Law no. 126-02 on Electronic Commerce and Digital Signatures and that, for the purposes, the services of the ABA will be used as a certification entity and provider of qualified digital signature services.
Steven Puig, president of Banco BHD, assured that “we are laying the foundations for this type of operations to be carried out routinely in our entity. Our purpose is to promote the progress of Dominicans through access to financial services in a close and innovative way; In this case, we take a step of innovation to facilitate housing financing, especially for Dominicans abroad.”
For the first time since the promulgation of Law 126-02 on Electronic Commerce, a pilot of this nature is being carried out. “BHD is the first Dominican bank to take this important step, which is consistent with our origins and with the experience in mortgage banking that we have accumulated over the years,” said the president of the Bank.
When Banco BHD began operations in 1972, it was known as Banco Hipotecario and at that time it specialized in mortgage financing programs.
About Author
2023-10-02 14:52:06
#ABA #BHD #announce #pilot #promote #digital #mortgage #Dominican #Republic
