"Sber" with the support of "Дом.РФ" switched to electronic mortgages throughout the territorial network

2021: Transfer of all Sber offices to issue electronic mortgages

All branches of the Sber territorial network have been transferred to the release of electronic mortgages. This was announced by the bank on August 27, 2021. The technology introduced in the framework of joint work with ДОМ.РФ and Rosreestr simplifies the maintenance of loans, including the removal of encumbrances and securitization, thereby contributing to the development of the mortgage market.

Thanks to the transition to electronic mortgages, we were able to significantly reduce the time for issuing mortgages and increase the safety of real estate transactions - from issuing a loan and registering a transaction to removing the encumbrance from real estate. Now the terms of electronic registration of a transaction throughout the country are on average no more than 3 working days. We believe that this is a big step for the mortgage lending market. I will say that in practice we see interest in transactions with electronic registration. The discount on them is minus 0.3 percentage points to the rate for each program, "said Kirill Tsarev, Deputy Chairman of the Management Board of SberBank.

Electronic mortgages from July 1, 2018 can be used along with documentary ones. The mortgage in digital form is formed by the bank and is included in the general package of documents on the mortgage transaction. To sign the contract, the parties use a digital signature. After that, the bank sends documents to Rosreestr for registration of mortgages, from where the mortgage is returned to the bank's depository. After paying off the mortgage, the bank removes the encumbrance from the pledge without the participation of the client, who then can freely dispose of the real estate.

In 2021, ДОМ.РФ, together with Rosreestr, improved the service for issuing electronic mortgages. The ability to register changes to electronic mortgages was implemented, as well as additional protection against errors when filling the mortgage. It was important for us to ensure a large volume of mortgages in the market, so Sber and I began joint work in this direction, during which qualitative and quantitative performance indicators were evaluated. They provided methodological support, analyzed non-standard cases that arose in the pilot's process, "said Nikolai Kozak, Managing Director ДОМ.РФ.

2020: Launch of electronic mortgages on the Masterchain blockchain platform

On July 28, 2020, Sberbank announced the start of using the Masterchain national blockchain platform to record electronic mortgages for real estate transactions. The system was put into industrial operation in the second half of the year, Anatoly Popov, deputy chairman of the board of Sberbank, told reporters through the press service.

According to him, Sberbank became the first credit institution to mass issue electronic mortgages on Masterchein and take them into account in depot accounts. From the end of August 2019 to the end of July 2020, Sberbank issued more than 60 thousand electronic mortgages, which are paper mortgages, contain the same data and are subject to storage in the depository.

Earlier, Sberbank, together with Дом.РФ, implemented the first mortgage securitization transaction on the Russian market using electronic mortgages. In addition, Sberbank launched a service that allows you to register the transfer of ownership without visiting Rosreestr or the MFC.

Sberbank began to issue electronic mortgages at Masterchein

Anatoly Popov added that by the end of July 2020, more than 98% of all electronic mortgages on the Russian market were issued by Sberbank.

The transition of the banking sector to electronic mortgages is carried out as part of the federal project "Mortgage," which is part of the national project "Housing and Urban Environment." The federal project is aimed at transferring the mortgage market to electronic form. In particular, it is planned to switch to servicing the borrower online - from issuing a loan to registering real estate rights.

It is noted that Sberbank supported the initiative of Rosreestr in the development of digital technologies and was the first among Russian banks to switch to processing mortgages in electronic form. Electronic interaction with credit institutions allows you to significantly reduce the time for issuing mortgages and increase the safety of real estate transactions.^[1]

Notes