In order to compete better with universal banks, mortgage banks hope
soon to be able to issue mortgages of up to 100% of the banking-mortgage
value. They also want to broaden their horizons, to include services
such as lending money to local authorities. But for these and other
changes to take place a new mortgage banking law needs to come into
effect.
There are currently 3 mortgage banks in Poland: HypoVereinsbank,
Rheinhyp-BRE Bank Hipoteczny and, most recently, Slaski Bank Hipoteczny.
The law, they believe, gives them a disadvantage against universal
banks. "Both the three mortgage banks and the Banking Supervisory
Commission realised the need to introduce changes to the current act of
Parliament which governs mortgage banking," says Jacek Furga, President
of Hypovereinsbank. "Together with Rheinhyp-BRE we reported our
reservations to the commission at the beginning of 2000, suggesting some
changes to the law to make us more competitive. We are also wo