KfW – Financial Sector Housing Programme, Lot 2: Support the Creation of a joint underwriting/ refinancing allocation between State Mortgage Company and Financial Institutions

2018-12-31 - 2019-09-30
Kyrgyz Republic

The objective of the assignment is the development of a joint underwriting process of the State Mortgage Company (SMC) of Kyrgyzstan and its partner bank, supported by an online solution, that allows clients to apply online, gather and store credit support documents (title deeds, police registration, income verification, certificates etc.), make them available to banks along the application process and support the joint underwriting of banks and SMC.
Institutional assessment of risk management practises in SMC. Development of a joint underwriting process of banks and SMC, where banks assume a retail function and SMC a wholesale function for underwriting housing loans in a variety of programmes of SMC. Developing a Business Requirement Document for the online application to support the new underwriting process. Developing the online application, including integration into Core Banking System of SMC, interfacing with various state bodies (in particular Tunduk, an integrator for government services), payment services (cards, accounts, wallets) and banks and the creation of a client specific space for document storage and communication. Support go live of the application and provide post go live support.