ASSOVIB signs ABI Memorandum of Uderstanding
October, 28 2016
The Association sealed the Memorandum of Understanding for the valuation of properties guaranteed by doubtful loans.
ASSOVIB signed, together with other sector associations and professional orders, the Memorandum of Understanding for the valuation of properties guaranteed by doubtful loans.
The number and amount of non-performing and bad loans has increased over the years of economic crisis that has affected Italian families and businesses. An exact property appraisal can contribute to a sound credit management and reduce the possibility of a non-performing outcome with implications for the risk not only of banks but of the financial system as a whole. With the signing of the Memorandum it is established a board which aims to define specific guidelines for the valuation of properties guaranteed by doubtful loans, also considering the standards developed at national and international level. Another objective of the board is to in-depth examine the initiatives considered most suitable to promote the efficiency of real estate sales procedures and share the analysis with relevant government authorities, also through the development of joint documents.
The board also aims to promote the spreading of best practices in the valuation of properties guaranteed by doubtful loans among all the public and private stakeholders involved.