JBA Submits Requests for Fiscal 2005 Housing Loan Corporation Budget

At the Board of Directors Meeting held on June 22, JBA drafted a request concerning the fiscal 2005 Budget of the Housing Loan Corporation (HLC), and submitted it to the HLC Governor, Minister of Land, Infrastructure and Transportation and Minister of Finance on June 23. This was done in conjunction with HLC drafting its fiscal 2005 budget for submission to the Ministry of Finance at the end of August.JBA made two requests: 1) A further reduction of HLC loans and clarification of HLC's supplemental role to private institutions, and 2) A revision of the agency commissions paid to banks by HLC so that they reflect the market mechanism. In regards to the first, HLC should curtail its business plan and, as JBA requested last year to no avail, reduce the HLC portion of loans and abolish special extra loans.