BOM provides loans for 6-9 months to banks.
Banks provides new mortgages for eligible borrowers and refinancing existing mortgages
Borrowers repays monthly installment to banks.
MIK will establish SPC and conclude Fiduciary management agreement
SPC and banks will conclude Servicing agreement, Mortgage purchase agreement or Swap agreement.
SPC gets approval from FRC on issuance of MBS and sell it to investors.
According to FRC decision the SPC should conclude a contract with Clearing house and register claim right at State Registration Office.