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Transferring Lien at the General State Registration Authority (GSRA)

Process of releasing Lien on collateral of Mortgages sold to MIK HFC LLC:

  • Borrower submits a request to close their Mortgage loan to the originating bank, after paying off the residual on the loan.
  • The originator bank sends the borrower’s request with other necessary documents to MIK HFC LLC via e-mail. 
  • Officers in charge of releasing lien on collaterals at MIK HFC LLC, receives the e-mail from the originating bank, and verifies the necessary information, and prepares an official letter to release lien on collateral.
  • Either the borrower, originating bank, or the officer in charge of the loan should bring their documents to MIK HFC LLC to pick up the letter to release the collateral within two working days.

 

Documents needed to release collateral

The following documents will be needed to release collateral.

  • Copy of the electronic ID of the borrower and the lender;
  • Copy of the real estate certificate;
  • Transcript of the loan account;
  • Residual payment to MIK Asset SPC’s account, transaction statement
  • Official request letter of releasing lien on collateral from the bank

 

The following documents will be needed to release collateral that has been pledged for 30 percent down payment of the mortgage.

  • Copy of the electronic ID of the borrower and the lender;
  • Copy of the real estate certificate;
  • Transcript of the loan account;
  • Copy of the loan agreement;
  • Copy of the collateral agreement;
  • Evaluation sheet of main and additional collateral;
  • Copy of the apartment sale and purchase agreement or a copy of the apartment order agreement;