Date
25 September 2017

P2P lender eyes rural land mortgage loans, paper says

Peer-to-peer (P2P) lender CreditEase Corp. has signed a letter of intent with the Inner Mongolia government under which the former will offer mortgage loans with management rights of rural land in Huhhot city as collateral, Economic Information Daily reported Wednesday, citing unidentified sources. If successful, it will mark the first case of P2P lenders’ participation in the new round of rural land system overhaul as the government has allowed farmers to secure financing through pledge of such rights to financial institutions, the report said. However, as CreditEase is not qualified to issue mortgage loans directly, it needs to find a guarantee firm or insurer to be the main entity in the loans, the report said.

– Contact HKEJ at [email protected]

TL/AC/RC

 

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