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The new regulation maintains a target of 65% savings funds for real estate financing transactions, but ends with a further limitation that 80% of these resources are reserved for the SFH, which includes leasing. savings and the FGTS. In order to stimulate financing of higher value real estate, the CMN has determined that banks that grant real estate financing with an appraised value of up to R $ 500,000 may apply a factor multiplication of 1.2
. can be used to meet the requirements of real estate financing, which are the minimal resources that banks are required to allocate to this type of financing. The terms currently permitted by the conclusion of new real estate financing transactions have been replaced. "This effect will be gradual, starting in January 2019, and over the next six years, respecting, in some cases, the maturity of subscribed transactions," says a note published by the Central Bank
. The main objectives of these changes are to increase the efficiency of the direction of the economies and simplify their compliance, to make the conditions of the real estate credit operations more flexible, efficient and complete with the resources of Savings and promote the development of new financing structures
The measures enter into force on 1 January 2019. According to the Central Bank, the new regulation closes a process that began in 2015, with the creation of Letra Imobiliria Garantida. "This series of improvements, in the flexibilization and simplification of targeting rules, aims to stimulate the entry of new entrants and the best segmentation of the market.The greater freedom to contract can also stimulate the development of the securitization market and real estate securities, attracting new resources for the sector, "notes the note.
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