In order to further regulate the order of commercial property sales market and safeguard the legitimate rights and interests of home buyers, Shenyang Real Estate Bureau, Shenyang Natural Resources Bureau, Shenyang Financial Development Bureau, Business Management Department of the People's Bank of China Shenyang Branch and Shenyang Housing Fund Management Center have jointly issued the Notice on Regulating the Entrustment Behavior of Home Purchase Loan Procedures.

The notice proposes that real estate developers and financial institutions shall not force home buyers to accept their designated real estate agencies to provide loan entrustment services. Buyers can handle it by themselves or entrust it to real estate agencies.

If the buyer chooses the real estate agency designated by the real estate developers or the financial institutions to provide the loan entrustment service, no unit or individual may charge the buyer any fee related to the entrustment.

If the home buyers choose to handle their own mortgage loan procedures, the real estate developers and financial institutions should cooperate and provide convenient conditions.

Real estate agencies shall strictly abide by the relevant laws and regulations and policies in the course of providing real estate intermediary and entrustment services, and shall not provide false certification materials for the buyers to help them evade the policies.

The notice specifies that the relevant departments shall strengthen the supervision of the industry, strictly examine the eligibility for home purchase and loan eligibility according to the policy provisions, and take measures such as interviewing the person in charge, ordering rectification, suspending the eligibility for online registration and public exposure for institutions and practitioners who violate the provisions of the notice, depending on the severity of the circumstances. If the circumstances are serious, the case shall be transferred to the relevant department according to law.

Reporter Liu Yang