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Wednesday, 15 June 2016 21:07

TTMF has strategies to deal with newly-jobless home owners

Written by C News
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People who recently suffered job cuts will not lose their homes.

This assurance came from CEO of the Trinidad and Tobago Mortgage Finance Company, Ingrid Lashley, who said the TTMF has implemented several strategies to treat with customers who have found themselves on the breadline during these tough economic times.

Speaking at a meeting of Parliament's Public Accounts Committee on Wednesday morning, Ms. Lashley said while she couldn't divulge the nature of the policies due to confidential reasons, they've tried to treat the matter with urgency.

She said while they'll continue to adhere to the Central Bank's requirements as they relate to borrowing, the Trinidad and Tobago Mortgage Finance Company recognises that some level of personal care must be taken to ensure they cater to customers.

"We deal with each matter that is brought before in respect of arrears and delinquency on a case by case basis and our officers are guided by our documented policies and procedures."

Ms. Lashley said the TTMF has also provided counseling and guidance for people who've lost their jobs and moving forward, the TTMF will continue to estimate the risk and act accordingly in the best interest of both the company and their customer.

"We have extracted customers who have been affected to date. We have counseled those customers and we have also stress tested the likelihood of increase in the number of customers and how it would impact our provisioning, our delinquency rate and ultimately our profitability."

Read 867 times Last modified on Tuesday, 21 June 2016 09:17