A sound PREVI
Benefit plans Plano 1
Operations with Partakers
Simple Loans
2007 there was the total of R$1,192 billion invested in loans to participants totaling 61,140 contracts. The average amount of those contracts was R$19 thousand. The profitability of this portfolio was of 12.9%.
In 2007, the conditions of Simple Loans were improved; were increased their ceiling (from R$30 thousand to R$35,000 thousand) and their tenor (from 50 to 60 months). The rate for the constitution of the Liquidity Fund was reduced from 0.5% to 0.1%.
Real Estate Financing
The Real Estate Financing Portfolio presented a sock of 29,265 contracts amounting to R$2,549 billion. There is a provision of R$1,055 billion for past due contracts, what reduces the value of the portfolio to R$1,494 billion. The profitability of this portfolio was of 13.67 %, influenced by the recovery of amounts relative to 308 past due contracts.
Carim's first contract was signed in March
The reopening of PREVI's Real Estate Financing - Carim 2007 counted with the manifestation of interest of more than 15,000 participants of Plano 1. All those who expressed an interest were summoned. During that period, PREVI finalized 623 contracts corresponding to nearly R$84 million. 2007 year ended with another 617 proposals being studied.
FGTS for all
PREVI became a financial agent authorized by Caixa Econômica Federal (Federal Savings Bank) to liberate funds from the Fundo de Garantia por Tempo de Serviço - FGTS (Employment Time Guarantee Fund) from the participants' accounts. With that procedure, those summoned by Carim began to have the option of complementing the value of the financing with FGTS resources, provided the adjustments to the SFH norms were followed. In October, the first liberations of the FGTS were approved, with the concession of 62 financing, corresponding to R$3,5 million. There are 150 applications of that kind under study.
Anticipated liquidation
1,543 Carim contracts were anticipatively liquidated, corresponding to a total of R$76,38 million. Out of that total 1,301 contracts, equivalent to R$61,7 million were liquidated with the participants' own resources. Starting in June, 510 contracts type PCE - signed between 1989 and 1995 - and Adesão GT I - renegotiated between 1998 and 2001- were liquidated at a discount of at least 15¨% (Nova Carim Project). That amount is tantamount to 43 % (25,4 million) of all contracts liquidated with the participants' own resources.
The agreement with Caixa was renewed in June and made it possible for Carim to receive R$14,6 million concerning the liquidation of 242 contracts with FGTS funds. Out of that total, 36 % were granted discounts of at least 15 % (PCE and GT I contracts).
Substitution of Guarantees
Since September, Carim borrowers can already count with an specialized service to change the guarantee given as collateral on the real estate financings granted by PREVI. Specialized companies that operate in the concession of 2007 Carim financing are conducting such transactions, providing a grater security, convenience and reduction in the tenors of those operations.
Mortgage releases
Carim Borrowers were benefited with the change on the procedures for the releasing of mortgages. Since July, the Notices of Mortgage Releases are issued automatically after the liquidation of the financing. That measure shortened the processing time as PREVI now sends directly the Notice of Release to the borrower.