An updated version of the publication describing the principles in the Danish Mortgage Model has been isuued by the Assocviation of Danish Mortgage Banks.Continue Reading
Article in the Wall Street Journal July 29, 2012 by Nick TimiraosContinue Reading
A new Absalon brochure in English has been published describing the principles in the Balanced Mortgage Bank and the suggested administration of the model in a Mortgage Service Provider (MSP) entity.Continue Reading
How has Denmarks mortgage market endured for the past 200 years without a single mortgage-bond defalut?
Read the article by Dan Barnes in the CISI Securities and Investment REVIEW vol. Februay 2012Continue Reading
Sydbank and Jyske Bank, two large regional banks in Denmark, has announced a agreement with BRF Kredit, an independant Mortgage Bank in Denmark, to use BRF Kredit for funding of some of their mortgage portfolio. Both banks are members of Totalkredit and originates currently SDO mortgages through Totalkredit, that also services the mortgages.
However both banks also have mortgages funded by deposits and other sources for a total of more than 20 billion DKK. With this agreement the banks opens an opportunity for an alternative joint funding channel for those mortgages, based on SDO legislation , and by doing so, they get access to a capital market that still seems liquid, and at the same time reduces the requirement for capital in the banks. The banks will continue to service these loans.
“The benefits Sydbank and Jyske Bank will achive with this agreement, is exactly what we have argued foreign banks will achieve by joining forces with Absalon Project to establish a local mortgage bank, that offers funding after the principles in the Danish Mortgage Model” explains Alan Boyce, CEO of Absalon Project.Continue Reading
Article by Allan Sloan January 18, 2012 in The Washington Post. The article discus the idea to establish a refinance opportunity for 13 million American households, which has earlier on been proposed in an article by Glenn Hubbard, Chris Mayer and Alan Boyce .Continue Reading
Article written by Jonans Bergman and Frances Schwartzkopff published January 18, 2012 by Bloomberg News.Continue Reading
The movie explaning the benefits of the Danish Mortgage Model has been translated to Spanish and is now availabale at the web site of the Danish Mortgage Bankers association.Continue Reading
Due to expanded international activities the board has appointed Wagn Erik Norgaard as COO, which is a new position in Absalon Project. Wagn Erik has served as CTO until now.
Henrik Hogsaa is promoted to new CTO. Henrik has served as Product Manager.Continue Reading
“Given the need for better housing finance in Peru and the positive development of the economy we have decided that the timing is right to explore the possibility of starting our mortgage business here” says Alan Boyce CEO of Absalon. Alex has a broad background within the mortgage industry and has recently worked with the mortgage industry in Mexico. Alex is now back in Peru and ready to explore the possibility of the introduction of Danish style mortgages.Continue Reading