Sberbank of Russia

08/31/2021 | Press release | Distributed by Public on 08/31/2021 07:00

Sber moves to e-mortgages across entire territorial network with support of DOM.RF

All branches of Sber's territorial network have switched to issuing electronic mortgages. Implemented in the framework of a collaboration with DOM.RF and Rosreestr, the technology simplifies loan support, including lien release and securitization, thereby facilitating the development of the mortgage market.

Thanks to the move to electronic mortgages, we have been able to significantly reduce mortgage processing time and increase the security of real estate transactions - from granting loans and registering transactions to releasing liens from properties. Now electronic transaction registration takes no more than three business days on average nationwide. We believe that this is a huge step for the mortgage lending market. I will say that in practice we have been seeing interest in transactions with electronic registration. The discount on the interest rate for each program is -0.3 percentage points.

Kirill Tsarev

Deputy Chairman of the Executive Board, SberBank

Since July 1, 2018, electronic mortgages can be used interchangeably with documentary mortgages. Digital mortgages are generated by the bank and are included in the general package of mortgage transaction documents. Participants use a digital signature to sign the contract. The bank then forwards the documents to Rosreestr for the mortgage to be registered, after which the mortgage is returned to the bank's depositary. Once the mortgage has been repaid, the bank releases the lien on the property without the participation of the client, who is then free to dispose of the property as they will.

This year, DOM.RF in coordination with Rosreestr improved its electronic mortgage service. It is now possible to register changes to electronic mortgages, and there is additional protection against errors while filling out mortgages. It was important to us to ensure a large volume of mortgages issued on the market, which is why we began collaborating with Sber in this area. In the course of our work together, we evaluated qualitative and quantitative performance indicators. We provided methodological support and addressed non-standard cases that came up during the pilot phase.

Nikolay Kozak

Managing Director, DOM.RF