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KOREA HOUSING FINANCE CORPORATION ACT — 법갈피

영문법령 / KOREA HOUSING FINANCE CORPORATION ACT

KOREA HOUSING FINANCE CORPORATION ACT

법률타법개정시행 2026-01-02금융위원회 · 제21065호 · 공포 2025-10-01

CHAPTER I GENERAL PROVISIONS

Article 1(Purpose) #

The purpose of this Act is to contribute to the promotion of national welfare and the development of the national economy by establishing the Korea Housing Finance Corporation to have it perform the securitization of mortgage-backed claims, etc., issuance of credit guarantees for housing finance and guarantees for reverse annuity mortgages in order to facilitate the supply of housing finance, etc. on a long-term and stable basis.

[This Article Wholly Amended on Jan. 25, 2010]

Article 2(Definitions) #

The terms used in this Act are defined as follows: <Amended on May 17, 2010; Mar. 31, 2011; Mar. 21, 2012; Jul. 30, 2013; Jan. 6. 2015; Jan. 19, 2016; Mar. 29, 2016; May 29, 2016; Dec. 8, 2020>

1. The term "mortgage securitization" means any of the following:

a. The Korea Housing Finance Corporation (hereinafter referred to the "Corporation") issues mortgage-backed bonds after offering mortgage-backed claims acquired by transfer from a financial institution as security and pays the principal and interest thereof to the bearer thereof;

b. The Corporation issues mortgage-backed securities on the basis of mortgage-backed claims acquired by transfer from a financial institution and distributes to the beneficiaries thereof the profits earned from the management, operation and disposal of such mortgages;

c. The Corporation issues student loan-backed securities on the basis of student loan-backed claims acquired by transfer from a financial institution and distributes to the beneficiaries thereof the profits earned from the management, operation and disposal of such student loan-backed claims;

2. The term "mortgage holding" means the Corporation's holding of mortgage-backed claims acquired by transfer from financial institutions for the purpose of mortgage securitization;

3. The term "mortgage-backed claim" means a claim on the loaned amount which falls under any of the following items and is secured by mortgage (including collateral security; hereinafter the same shall apply) established on a house under subparagraph 1 of Article 2 of the Housing Act (excluding houses meeting the criteria for a high-priced house under Article 89(1)3 of the Income Tax Act; hereinafter referred to as "house"):

Article 9(Establishment and functions) #

(1) The Housing Finance Management Committee shall be established under the Corporation in order to formulate the basic direction regarding the operation of the Corporation and review its business plan, etc.

(2) The Housing Finance Management Committee (hereinafter referred to as the "Committee") shall review, and adopt resolutions on, the following matters:

1. Formulation of and amendments to the basic operational policy and business plan of the Corporation;

2. Amendments to the articles of incorporation.

3. Drawing-up of and amendments to the budget, and the settlement of accounts;

4. Matters on criteria for the taking-over of mortgage-backed claims;

5. Matters on criteria for providing guarantees for reverse annuity mortgages;

6. Formulation of and amendment to the operational plan of the Fund;

7. Matters on amortization of reimbursement claims;

8. Other matters related to the operation of the Corporation, the Fund and the Account, which are provided for in the articles of incorporation.

(3) The following matters shall be included in the criteria for acquiring mortgage-backed claims pursuant to paragraph (2)4:

1. The ratio of loan amount received from financial institutions by mortgaging a house to the price of such house;

2. Limit on loan amount, within the amount prescribed by Presidential Decree, for a house offered to a financial institution as security;

3. The ability to repay debts of a person who has loaned from a financial institution by mortgaging his or her house, in view of the person's income level;

4. The number of houses owned by a person who has borrowed money from a financial institution by mortgaging his or her house;

5. Fees for the early repayment of mortgage-backed claims;

6. Matters on appraisal of the value of the house offered to a financial institution as security;

7. Other matters prescribed by Presidential Decree.

(4) The criteria for providing guarantees for reverse annuity mortgages pursuant to paragraph (2)5 shall include each of the following:

1. The number of houses owned by any person who uses a guarantee service for a reverse annuity mortgage;

2. The ceiling on reverse annuity mortgage loans;

3. Matters on appraisal of the value of houses offered as security for guarantees for reverse annuity mortgages;

4. The growth rate of house prices which is necessary for determining guarantee amount of a guarantee for a reverse annuity mortgage and other matters prescribed by Presidential Decree.

(5) Matters under paragraph (4)4 shall be recalculated once or more per year and be reflected in determining the amounts of annuity of persons who conclude contracts to use a guarantee service for reverse annuity mortgages after the date of recalculation.

[This Article Wholly Amended on Jan. 25, 2010]

Article 22(Scope of business) #

(1) The Corporation shall perform the following affairs in order to achieve the objectives of trade insurance business: <Amended on Dec. 8, 2020>

1. Mortgage securitization;

2. Mortgage holding;

3. Payment guarantee services for each of the following items:

a. Mortgage-backed securities;

b. Student loan-backed securities;

c. Asset-backed securities issued by special purpose companies, etc. for asset-backed securitization provided for in Article 3(1) of the Asset-Backed Securitization Act by making mortgage-backed claims the subject matter of asset securitization;

4. Extension of credit for financial institutions;

5. Evaluation and actual survey of mortgage-backed claims or student loan-backed claims;

6. Management and operation of the Fund and the Account;

7. Credit guarantees;

8. Discharge of credit guarantee obligations related to subparagraph 7 and the exercise of right to demand a reimbursement;

9. Guarantees for reverse annuity mortgages;

9-2. Trust related to subparagraph 9;

10. Fulfillment of credit guarantee obligations for the reverse annuity mortgages and exercise of right to demand a reimbursement;

11. Acquisition by transfer and the holding of reverse annuity mortgages claims under Article 43-5 and payment of annuities backed by reverse annuity mortgages;

12. Credit survey related to subparagraphs 7 and 9 and the comprehensive management of credit information;

13. Investigation and research of housing finance, collection and preparation of statistical data, and exchange and cooperation with related domestic and foreign institutions;

14. The services incidental to subparagraphs 1 through 13 and approved by the Financial Services Commission.

(2) When the Corporation provides the services referred to in the subparagraphs of paragraph (1), it shall preferentially support the purchase of houses, etc. by ordinary people by taking into account fluctuations in house prices.

(3) The Corporation may contribute all or some of its capital to a corporation providing services under the subparagraphs of paragraph (1) or any other service similar thereto, following the resolution of the Committee.

(4) The Financial Investment Services and Capital Markets Act shall not apply to the trust referred to in paragraph (1)9-2. <Added on Dec. 8, 2020>

[This Article Wholly Amended on Jan. 25, 2010]

Article 23(Registration of mortgage securitization plans) #

(1) The Corporation shall, when it intends to securitize or hold mortgages, register a mortgage securitization plan or a plan for mortgage holding (hereinafter referred to as "mortgage securitization plan") with the Financial Services Commission by preparing documents prescribed by the Financial Services Commission. The same shall also apply where any change is made in the mortgage securitization plan registered (excluding cases where any change is made in the minor matters prescribed by Presidential Decree).

(2) The mortgage securitization plan shall include the following matters; provided, where the mortgage securitization plan is to be registered for the purpose of mortgage holding, appraised amounts under subparagraph 3 and matters under subparagraph 4 shall be excluded:

1. Name of the Corporation and the location of office;

2. Period of the mortgage securitization plan;

3. Specifications of mortgage-backed claims, and the total amount and appraised amounts thereof;

4. Types, total amount, and conditions of the issuance of mortgage-backed bonds and mortgage-backed securities to be issued;

5. Matters on the management, operation and disposal of mortgage-backed claims (including where a trust is established in accordance with Article 32(1));

6. Where business affairs concerning the management, operation and disposal of mortgage-backed claims are entrusted in accordance with Article 45(1), the relevant administrator of claims entrusted with such affairs;

7. Other matters on the mortgage securitization plan, which are prescribed by Presidential Decree.

(3) When any of the following cases occur, the Financial Services Commission may refuse the registration of a mortgage securitization plan or demand amendments to the contents thereof:

1. Where a registration application form has been falsely entered or necessary matters are omitted therefrom;

2. Where any matter violating Acts and subordinate statutes is included in the details of the mortgage securitization plan.

(4) When the Financial Services Commission refuses registration under paragraph (3) or demands any amendment to the mortgage securitization plan, it shall notify the Corporation in writing by specifying detailed grounds therefor.

[This Article Wholly Amended on Jan. 25, 2010]

Article 24(Registration of transfer of mortgage-backed claims) #

(1) The Corporation shall, when a transfer, trust or restitution (hereinafter referred to as "transfer, etc.") of mortgage-backed claims occurs under the mortgage securitization plan, register such fact with the Financial Services Commission without delay. In such cases, the restitution includes a restitution following the exercise of a prior purchase right by a financial institution or the Corporation.

(2) The Corporation shall, when it intends to register the transfer, etc. of mortgage-backed claims pursuant to paragraph (1), submit an application for registration and a copy of the contract on transfer, etc. of mortgage-backed claims to the Financial Services Commission.

(3) In the registration application referred to in paragraph (2), the following matters shall be stated, and matters under subparagraph 1 shall be prepared and submitted in electronic form or by other means equivalent thereto:

1. Specifications of mortgage-backed claims;

2. Means and the schedule of transfer, etc. of mortgage-backed claims and means of payment;

3. Whether the conditions for perfecting the transfer of claims are satisfied;

4. Requisites for the cancellation of contract on transfer, etc. of mortgage-backed claims;

5. Whether a financial institution or the Corporation holds a prior purchase right, if the transferee of mortgage-backed claims disposes of the relevant mortgage-backed claims;

6. Other matters necessary for the protection of investors, which are prescribed by the Financial Services Commission.

(4) Where the Corporation makes a request for the issuance of documents evidencing the registration of individual mortgage-backed claims, the Financial Services Commission shall issue them without delay.

(5) The Corporation shall, as prescribed by Presidential Decree, keep and manage a written contract, certificate of completion of registration, written notice of details of completion of registration or certificate of registration, and other kinds of written evidence, in relation to transfer, etc. of mortgage-backed claims, and comply with a request for perusal thereof, upon receipt of the request for the perusal by the Financial Services Commission or the relevant investor. <Amended on Apr. 12, 2011>

(6) Matters related to the registration application form, methods of completing it, processing procedures, etc. under paragraph (3) shall be prescribed by the Financial Services Commission.

[This Article Wholly Amended on Jan. 25, 2010]

Article 26(Special cases concerning conditions for perfecting transfer of mortgage-backed claims) #

(1) No transfer, etc. of mortgage-backed claims in accordance with the mortgage securitization plan may be set up against the debtor unless a transferor (including a truster; hereinafter the same shall apply) or transferee (including a trustee; hereinafter the same shall apply) has notified the debtor or the debtor has consented thereto; provided, if the transferor or the transferee issues a notice of transfer, etc. by sending a contents-certified mail to either of the following addresses at least two times and the mail is returned to the transferor or the transferee because the whereabouts of the debtor are unknown or for any other reason, the transferor or the transferee may place a public notice of transfer, etc. in at least two daily newspapers (including at least one daily newspaper of nationwide circulation) whose main circulation areas cover the place of the debtor’s address, and in such cases the notice shall be deemed to have been issued to the debtor on the date of such public notice:

1. The address of the debtor stated in the registry (if the address shown in the registry is not the last address of the debtor and the transferor or transferee knows the last address of the debtor, referring to such last address of the debtor);

2. The last address of the debtor, if no address is shown in the registry and the transferor or transferee knows the last address of the debtor.

(2) When the transfer, etc. of mortgage-backed claims in accordance with the mortgage securitization plan is registered pursuant to Article 24(1), conditions for perfecting the transfer, etc. under Article 450(2) of the Civil Act shall be deemed to have been met by such registration against any third party other than the debtor of the relevant claims, as of the date of such registration.

(3) The notice under paragraph (1) may be issued with the date of transfer, etc. specified therein, even before the transfer, etc. is made; provided, when the transfer, etc. is made on a date different from the notified one, the notice shall be re-issued clearly stating the date when such transfer, etc. has been made.

(4) The consent of the debtor referred to in paragraph (1) may be obtained even before the mortgage securitization plan is registered. In such cases, the debtor may be asserted against the Corporation due to a cause that has arisen before the transfer of the relevant mortgage-backed claims.

[This Article Wholly Amended on Jan. 25, 2010]

Article 32(Issuance of mortgage-backed securities) #

(1) Notwithstanding Article 3(1) of the Trust Act, the Corporation may issue mortgage-backed securities by establishing a trust which makes itself a trustee in accordance with the mortgage securitization plan. <Amended on Jul. 25, 2011>

(2) The establishment of a trust under paragraph (1) shall come into effect at the time it is registered with the Financial Services Commission.

(3) The mortgage-backed securities shall be issued in bearer form; provided, they may be issued in registered form at the request of a beneficiary of mortgage-backed securities.

(4) The transfer of mortgage-backed securities and other types of exercise of rights shall be performed by using mortgage-backed securities; provided, in the case of registered mortgage-backed securities, Articles 337, 338, 340 and 358-2 of the Commercial Act regarding stocks shall apply mutatis mutandis. <Amended on May 20, 2014>

(5) Any person who acquires mortgage-backed securities shall succeed to rights and duties arising from the relevant mortgage-backed securities.

(6) The following matters shall be indicated in mortgage-backed securities, and the president of the Corporation shall affix his or her sign and seal thereon:

1. Issuance number;

2. Name of the Corporation;

3. Total amount of issuance and types of beneficial interests;

4. Total amount of mortgage-backed claims constituting the underlying basis for the issuance;

5. Details on the settlement of trust;

6. Other matters prescribed by Presidential Decree.

(7) Notwithstanding Article 36 of the Trust Act, the Corporation may acquire mortgage-backed securities issued by the Corporation with assets which are not subject to mortgage securitization, as prescribed by Presidential Decree. <Amended on Jul. 25, 2011>

(8) The Corporation may, if necessary to complete trust and perform payment guarantee obligations with respect to mortgage-backed securities, acquire mortgage-backed claims which constitute the underlying assets, notwithstanding Article 34 of the Trust Act. <Amended on Jul. 25, 2011>

(9) When the Corporation issues mortgage-backed securities in accordance with paragraph (1), it shall be deemed to have obtained authorization under Article 12 of the Financial Investment Services and Capital Markets Act with regards to the relevant business. In such cases, Article 4 of the Trust Act and Articles 30 through 33, 38(6), 105, 110(1) through (4), 415, 416, 420 and 422 of the Financial Investment Services and Capital Markets Act shall not apply. <Amended on Jul. 25, 2011>

[This Article Wholly Amended on Jan. 25, 2010]

Article 39(Exercise of right to demand reimbursement) #

(1) Where the Corporation fulfills a credit guarantee liability, the relevant creditor shall, without delay, deliver to the Corporation such documents as may be necessary to the Corporation in exercising its right to demand a reimbursement arising therefrom and fully cooperate with the Corporation in exercising such right.

(2) The Corporation may take each of the following measures as a follow up management of the right to demand a reimbursement against the debtor, which has been acquired in accordance with Article 38:

1. Where it is essentially necessary for the preservation of the right to demand a reimbursement: Acquisition of collateral;

2. Where it is impossible to exercise the right to demand a reimbursement by legal procedures or any other possible means: Depreciation of the right to demand a reimbursement.

(3) The Corporation may, when a primary debtor falls under any of the following subparagraphs even after it has fulfilled a credit guarantee liability in accordance with Article 38, suspend the exercise of the right to demand a reimbursement against the relevant primary debtor:

1. Where it is deemed improbable that any balance in property of the relevant primary debtor will remain after being appropriated for the expenses incurred in exercising the right to demand a reimbursement;

2. Where it is deemed probable that the debt-servicing ability of the relevant primary debtor will be enhanced in the future by the suspension of the exercise of the right to demand a reimbursement;

3. Other cases necessary for the increased recovery of claims for indemnity and prescribed by Presidential Decree.

(4) When the Corporation deems it necessary for the efficient recovery and management of a claim for indemnity, it may sell such claim for indemnity to any of the following persons after resolution by the board of directors:

1. Corporate restructuring investment companies under the Corporate Restructuring Investment Companies Act;

2. Corporate restructuring associations registered under Article 15 of the Industrial Development Act (referring to the one before wholly amended by Act No. 9584);

3. Other persons specializing in the trade and management of insolvent loans, which are prescribed by Presidential Decree.

[This Article Wholly Amended on Jan. 25, 2010]

Article 45(Entrustment of business of Corporation) #

(1) The Corporation may entrust its business concerning the management, operation and disposal of mortgage-backed claims to any of the following persons (hereinafter referred to as "administrator of claims") in accordance with the mortgage management entrustment contract. In such cases, the entrusted financial institution may, notwithstanding Article 4(1) of the Credit Information Use and Protection Act, perform claims collection business under subparagraph 10 of Article 2 of the same Act and other service incidental to a claims collection agency under Article 11-2 of the same Act within the scope of such entrusted business: <Amended on May 19, 2011; Nov. 26, 2019; Feb. 4, 2020>

1. Financial institutions;

2. Korea Asset Management Corporation under the Act on the Establishment of Korea Asset Management Corporation;

3. Claims collection agencies which have obtained permission in accordance with the Use and Protection of Credit Information Act (hereinafter referred to as "claims collection agencies").

(2) The Corporation may not oppose against the debtor of mortgage-backed claims on the ground that the right of the administrator of claims to receive payment has ceased to exist because it terminated the mortgage management entrustment contract; provided, where the debtor has known or could have known that the right of the administrator of claims to receive payment became extinct, this shall not apply.

(3) The administrator of claims shall manage the mortgage-backed claims entrusted and managed pursuant to paragraph (1) separately from his or her own property and shall prepare and keep books regarding the management of such mortgage-backed claims.

(4) Where the administrator of claims goes bankrupt, the mortgage-backed claims entrusted and managed pursuant to paragraph (1) shall not constitute the administrator of claims' bankruptcy estate, and the Corporation may request the administrator of claims or bankruptcy administrator to deliver mortgage-backed claims.

(5) Paragraph (4) shall apply mutatis mutandis where rehabilitation procedures under the Debtor Rehabilitation and Bankruptcy Act are commenced.

(6) The creditor of the administrator of claims may not perform forcible execution on mortgage-backed claims being entrusted to and managed by the administrator of claims pursuant to paragraph (1), and the mortgage-backed claims shall not be subject to an order for injunctive relief or an order for discontinuation under the Debtor Rehabilitation and Bankruptcy Act.

(7) The Corporation may entrust some of its business falling under Article 22(1)7 through 12 and other businesses incidental thereto, which are approved by the Financial Services Commission, to any person falling under any subparagraph of paragraph (1) as prescribed by Presidential Decree.

(8) A person entrusted with the business of the Corporation as provided in paragraph (1) or (7) may act on behalf of the Corporation with respect to such business in both judicial and extrajudicial areas; provided, in the case of a claims collection agency, it shall be limited to extrajudicial activities. <Amended on Feb. 4, 2020>

[This Article Wholly Amended on Jan. 25, 2010]

Article 60(Supervision) #

(1) The Financial Services Commission may supervise the Corporation with regards to each of the following affairs as prescribed by Presidential Decree in order to secure the soundness of business administration and may issue orders necessary for such supervision: <Amended on Dec. 8, 2020>

1. Budgeting and accounting;

2. Formulation of and amendment to business plans;

3. Operation of surplus funds;

4. Formulation of and amendment to fund operation plans;

5. Accounting of the Fund;

6. Business affairs under Article 22(1)1 through 9, 9-2, and 10 through 13;

7. Business affairs incidental to those under subparagraph 6 and approved by the Financial Services Commission.

(2) The Minister of Land, Infrastructure and Transport may make requests to the Financial Services Commission as necessary to supervise the Corporation. <Amended on Mar. 23, 2013>

(3) Where the Corporation has violated an order issued under paragraph (1) and thus it is deemed that it may undermine the sound management of the Corporation, the Financial Services Commission may take any of the following measures:

1. Issuing an order to correct the relevant violation;

2. Suspending part of its business for up to six months;

3. Discontinuing the relevant violation, issuing a warning, etc.

(4) Where an executive officer of the Corporation has intentionally violated any order issued under paragraph (1) or done great harm to the sound management of the Corporation, the Financial Services Commission may take appropriate measures, including suspending his or her duties, dismissing, and issuing a warning to, the relevant executive officer.

(5) Where an employee of the Corporation has intentionally violated an order issued under paragraph (1) or done great harm to the sound management of the Corporation, the Financial Services Commission may request the president of the Corporation to take appropriate punitive measures, including dismissing him or her from office, suspending his or her duties, reducing salary, imposing other punishments.

(6) Where it is deemed that an executive officer or employee of the Corporation who has retired or resigned from office would have been subject to a measure taken under paragraph (4) or (5), if he or she was holding office in the Corporation, the Financial Services Commission may inform the president of the Corporation of the details of such measure.

(7) The president of the Corporation who has been notified in accordance with paragraph (6) shall inform the relevant executive officer or employee of such fact, and enter and keep it in the records of personnel administration.

[This Article Wholly Amended on Jan. 25, 2010]

Article 64(Requests to furnish data) #

(1) Within the minimum extent necessary for performing the duties under Article 22(1)1, 2, 5, 7 through 9, 9-2 and 10 through 12 and with the consent of housing finance users, their spouses, and other persons prescribed by Presidential Decree (hereinafter referred to as "subject persons, etc."), the Corporation may request the following data or information from State agencies such as the Supreme Court, local governments, financial companies, etc. (referring to financial companies, etc. under subparagraph 1 of Article 2 of the Act on Real Name Financial Transactions and Confidentiality and credit information companies under the Credit Information Use and Protection Act; hereinafter the same shall apply), the National Pension Service under the National Pension Act, the National Health Insurance Service under the National Health Insurance Act, and other public organizations prescribed by Presidential Decree (hereinafter referred to as "relevant institutions"): <Amended on Dec. 7, 2021>

1. Data or information on personal details, such as the registered matters concerning family relations under the Act on Registration of Family Relations and the electronic information data of resident registration under the Resident Registration Act;

2. Data or information on national or local taxes;

3. Data or information on various types of pensions, insurances, and benefits, such as the national pension, public officials pension, military pension, private school teachers and staff pension, special post office pension, health insurance, employment insurance, industrial accident compensation insurance, and veterans' compensation benefits;

4. Data or information on various types of finance, credit, and insurance (limited to data or information necessary for qualification examination, such as the income, assets, and delinquency information of the subject persons, etc.; hereinafter referred to as "financial information, etc."), such as financial assets and financial transactions under the Act on Real Name Financial Transactions and Confidentiality, credit information under the Credit Information Use and Protection Act, and insurance premiums under the Insurance Business Act;

5. Data or information on real estate, such as the land cadastre under the Act on the Establishment and Management of Spatial Data and the current status of the rights to purchase ownership and housing ownership under the Housing Act;

6. Other data or information prescribed by Presidential Decree to the extent necessary for verifying personal details, income, property, etc. of the subject persons, etc.

(2) Before requesting data or information under paragraph (1), the Corporation shall obtain from the subject persons, etc. a written consent (including electronic documents under subparagraph 1 of Article 2 of the Framework Act on Electronic Documents and Transactions) to the fact that the data or information specified in the subparagraphs of paragraph (1) will be provided by the relevant institutions. <Amended on Dec. 7, 2021>

(3) A person who has received a request under paragraph (1) shall comply therewith unless there is a compelling reason not to do so. <Amended on Mar. 29, 2016; Dec. 7, 2021>

(4) Making a request for data or information, and provision, storage, and destruction of such data or information pursuant to paragraphs (1) through (3) shall be in accordance with the Personal Information Protection Act and Credit Information Use and Protection Act. <Amended on Dec. 7, 2021>

(5) The relevant institutions that provide the requested data or information pursuant to paragraph (1) shall exempt usage fees or other fees for the data provided to the Corporation. <Added on Dec. 7, 2021>

(6) Other matters necessary for the procedures for requesting data or information, the methods and procedures for consent, etc. shall be prescribed by Presidential Decree. <Added on Dec. 7, 2021>

[This Article Wholly Amended on Jan. 25, 2010]

KOREA HOUSING FINANCE CORPORATION ACT

Article 1(Purpose) #

Article 2(Definitions) #

Article 3(Legal personality) #

Article 4(Offices) #

Article 5(Capital) #

Article 6(Articles of incorporation) #

Article 7(Registration) #

Article 8(Prohibition on use of similar name) #

Article 9(Establishment and functions) #

Article 10(Organization) #

Article 11(Operation) #

Article 12(Executive officers) #

Article 13 #

Article 14 #

Article 15 #

Article 16(Disqualifications for executive officers) #

Article 17(Guarantee of executive officers' status) #

Article 18 #

Article 19(Appointment of agents) #

Article 20(Appointment and dismissal of employees) #

Article 21(Prohibition of divulging confidential information) #

Article 22(Scope of business) #

Article 22-2(Prior agreement on acquisition by transfer of mortgage-backed claims) #

Article 23(Registration of mortgage securitization plans) #

Article 24(Registration of transfer of mortgage-backed claims) #

Article 25(Means of transfer) #

Article 26(Special cases concerning conditions for perfecting transfer of mortgage-backed claims) #

Article 27(Settlement of claims secured with collateral security) #

Article 28(Special cases concerning acquisition of mortgages) #

Article 29(Disclosure of registration documents) #

Article 30(Management of mortgage-backed claims) #

Article 31(Issuance of mortgage-backed bonds) #

Article 32(Issuance of mortgage-backed securities) #

Article 33(Exception to issuance of mortgage-backed securities) #

Article 34(Payment guarantees) #

Article 34-2(Special cases concerning mortgage securitization) #

Article 35(Granting of credit for financial institutions) #

Article 36(Provision and use of information on debtors) #

Article 37(Establishment of credit guarantee relationship) #

Article 38(Fulfillment of credit guarantee liability) #

Article 39(Exercise of right to demand reimbursement) #

Article 40(Obligations of creditors) #

Article 41(Guarantee fees) #

Article 42(Penalties) #

Article 43(Maximum amount of credit guarantee) #

Article 43-2(Establishment of guarantee relationship for reverse annuity mortgages) #

Article 43-3(Fulfillment of credit guarantee liabilities for reverse annuity mortgages) #

Article 43-4(Scope of exercise of reverse annuity mortgage claims) #

Article 43-5(Acquisition by transfer of reverse annuity mortgages claims) #

Article 43-6(Protection of persons using guarantee service for reverse annuity mortgages) #

Article 43-7(Restriction on establishment of mortgages) #

Article 43-8(Guarantee fees for reverse annuity mortgages) #

Article 43-9(Aggregate ceiling on guarantees for reverse annuity mortgages) #

Article 43-10(Provisions applicable mutatis mutandis) #

Article 43-11(Special cases concerning house subject to guarantees for reverse annuity mortgages) #

Article 43-12(Special cases concerning establishment of trust) #

Article 43-13(Exclusive account for reverse annuity mortgages) #

Article 44(Entrustment of business of the financial services Commission) #

Article 45(Entrustment of business of Corporation) #

Article 46(Issuance of student loan-backed securities) #

Article 47(Fiscal year) #

Article 48(Business plans, budgets, and settlement of accounts) #

Article 49(Separate accounting) #

Article 50(Disposal of earnings) #

Article 51(Coverage of losses) #

Article 52(Issuance of debentures) #

Article 53(Borrowing of funds) #

Article 54(Operation of surplus funds) #

Article 55(Establishment of housing finance credit guarantee fund) #

Article 56(Creation of fund) #

Article 57(Uses of fund) #

Article 58(Management and operation of fund) #

Article 59(Budgeting and settlement of accounts of fund) #

Article 59-2(Establishment of account of guarantee for reverse annuity mortgages) #

Article 59-3(Creation of account) #

Article 59-4(Uses of account) #

Article 59-5(Provisions applicable mutatis mutandis concerning fund) #

Article 60(Supervision) #

Article 61(Submission of report and inspection of documents) #