The period referred to in 3° of article L. 513-26 runs, depending on the case, from the day on which the obligations foncières are settled and delivered or from the day on which they are no longer held as collateral with the Banque de France.
All sociétés de crédit foncier maintain a specific statement of the loans they have granted or acquired. This statement shall also show the nature and value of the guarantees relating thereto and the nature and amount of preferential claims.
Housing finance companies are governed by the provisions of articles R. 513-1-A, R. 513-1, R. 513-3, R. 513-4, R. 513-6 to R. 513-12, R. 513-14 and R. 513-15 to R. 513-18, subject to the provisions of this section.
Other securities, exposures and deposits that may be held by housing finance companies include : 1° Within the limit set in the first paragraph of Article R. 513-6, the securities, exposures and deposits referred to in that Article, debt securities issued or fully guaranteed by one of the public entities referred to in 1 to 5 of I of Article L. 513-4 and amounts placed in accounts opened with a…
Within the meaning of Article L. 515-38, the risk assessment methods used by a credit institution, finance company or insurance company included in the scope of consolidation of the housing finance company are deemed appropriate if : a) There are risk assessment or monitoring procedures specific to these guarantees, independent of those existing in the company granting the loans ; b) The design and operation of these procedures enable the…
The municipal credit banks may grant any natural person loans against pledges of tangible movable property, likely to be of appreciable value and in a good state of preservation. These assets are deposited in their shops and appraised beforehand by appraisers. Each cashier’s office will first check the identity and address of the applicant, who will be required to produce an official document bearing a photograph. The characteristics and references…
The valuation of items pledged by borrowers is carried out by judicial auctioneers, who are appointed for a renewable term of three years by the director of each municipal credit union. Before making this appointment, or terminating the duties of a judicial auctioneer or a person authorised to carry out valuations, the Director shall seek the opinion of the Caisse’s Guidance and Supervisory Board. He shall also seek the opinion…
Appraisers are liable to the Caisse for the consequences of their appraisals. Consequently, if an item is not released or the pledge is not renewed, it is sold and the proceeds of the sale are not sufficient to reimburse the Caisse for the sums it has lent on the basis of these valuations and for what is owed to it, both in respect of the interest for the duration of…
Within the limits set out in Article D. 514-8, the institution may grant a loan for an amount greater than that guaranteed by the judicial auctioneers. If the pledged property is sold at a price lower than the amount of the loan granted but higher than the amount guaranteed by the judicial auctioneers, the resulting financial loss shall be borne by the institution.
The remuneration of appraisers is set by the Guidance and Supervisory Board. It may not exceed 0.50% of the amount of loans granted or renewed on the basis of the appraisal of pledged assets.
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75001, Paris France
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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