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Mortgage Providers Face Conundrum Over Stubborn NPLs

December 7, 2014
    Avia Collinder, Business Reporter Local mortgage providers who have pulled assets in the form of foreclosed properties on to their books will have to offload the properties before strict deadlines set under the pending Banking Services Act elapse. The asset bulge arising from foreclosures is a consequence of the recent financial crisis during...
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December 5, 2014
Lower downpayment to make homeownership easier Daraine Luton, Senior Staff Reporter THE high downpayment required in order to purchase a home is to be drastically slashed, following the passage of an amendment to the 1960 Mortgage Insurance Act in Parliament. When signed into law by the governor general, the bill - which was passed in the House...
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Timeshares Vacations Bill approved

November 28, 2014
  TEF to fund first year of implementation     KINGSTON, Jamaica – The Senate today approved the Timeshare Vacations Bill, facilitating the country’s entrance into the tourism timeshare market. Minister of Justice, Mark Golding said that potential investors have already shown an interest in developing timeshare vacations in Jamaica. “This...
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House passes Bill to make house ownership easier

November 12, 2014
 KINGSTON, Jamaica (JIS) -- The House of Representatives, on Tuesday (November 11), passed amendments to the Mortgage Insurance Act, aimed at making mortgages more accessible to people seeking to acquire a home. The Bill seeks to increase from 90 per cent to 97 per cent, the percentage of the appraised value of the property on which mortgage indemnity...
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Timeshare Vacations Bill Passed

October 23, 2014
 EFFORTS TO diversify the island's tourism offerings have received a major boost as timeshare vacations are set to be added to Jamaica's tourism product with the passage of the Timeshare Vacations Bill. The bill was passed in the House of Representatives on Tuesday after being piloted by Minister of Tourism and Entertainment  Dr Wykeham McNeill,...
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