Home loan counsellors are here …….Atmadip Ray KOLKATA
COME January 2009, the home loan market will see the first batch of the new breed of home loan counsellors, who are expected to bring in more transparency in home loan marketing. National Housing Bank (NHB), the apex body for promoting and regulating specialised housing finance companies, plans to introduce counsellors to protect home loan borrowers from fraudsters and exploitation by lenders and real estate developers.
A borrower will now have the option to take recourse to the expertise of these new advisors before availing themselves of a home loan. Indian Institution of Banking & Finance (IIBF) a body of professionals in banking and finance has launched a diploma programme, in association with NHB, to create professional and independent advisors to this end. NHB will announce details of the new format shortly.
This will create a stream of professionals in the home loan industry with requisite knowledge. Candidates who complete the diploma course will be eligible for award of Certified Independent Mortgage Counsellor/Advisor designated by NHB, IIBF chief executive officer R Bhaskaran told ET.