September 16, 2021: Pakistan Mortgage Refinance Company (PMRC) has entered into an agreement for the deployment of loan and credit system with AutoSoft Dynamics (Pvt.) Limited.
A contract signing ceremony was held on Thursday 16th September 2021 between the two companies at PMRC Head Office, in Karachi.
The project is aimed for faster and efficient credit appraisal & processing, transactions recording & monitoring, risk management, portfolio & collateral management of all credit exposures at PMRC.
Pakistan Mortgage Refinance Company was set up as a Mortgage Liquidity Facility by the State Bank of Pakistan to address the long-term funding constraint in the banking sector, which was hindering the growth of the primary mortgage market. PMRC is Pakistan first Mortgage Refinance facility serving as a secure source of long-term funding at attractive rates and at the same time ensuring sound lending habits amongst the primary mortgage lenders (PMLs).
Its thrust is three-fold: help reduce maturity mismatch risk for PMLs, increase the availability of fixed-rate mortgages and increase the maturity structure of the mortgage loans with the aim of improving affordability for end consumers particularly the low and middle income.
AutoSoft Dynamics is one of the leading software solution providers specifically for the banking and financial services industry. AutoSoft offers a range of products, solutions, and consulting services that cut costs, respond rapidly to market needs, enhance customer service levels and mitigate implementation risks. AutoSoft has already provided financial solutions to many banks both within Pakistan and internationally.