Capitas Group International has developed cgi REMA Total Financial Solutions (TFS), a comprehensive approach to the development of the Real Estate sector which addresses the major requirements of stakeholders across the value chain.
Service Elements:
Residential and commercial mortgage platform development: |
Focusing on customization and localization, CGI leverages international best practices while working with both existing financial institutions and Greenfield projects to develop robust, primary market mortgage finance platforms. CGI offers more than blueprints. We bring a practical and entrepreneurial approach that spans the complete range of mortgage platform functions including:
- origination strategies
- product development
- operations
- credit risk management
- technology implementation
- liquidity management
Our platform development and management capabilities emanate from a group of seasoned banking and finance practitioners with the unique experience of having established, launched and operated multiple specialty finance platforms.
Accomplishments of cgi REMA team members include:
| - | Spearheading the launch of a SAR 2 billion national real estate finance platform in Saudi Arabia, sponsored by the Public Investment Fund of the Ministry of Finance and ICD. |
| - | Set up of the first national Islamic home financing platform in the United States where members of CGI management oversaw $500 million in origination on a platform which has gone on to originate over $2 billion. |
| - | Launch of the first national Shari’ah compliant commercial real estate financing company in the United States. |
| - | Helped found the largest home financing firm in the United Arab Emirates. |
Mortgage Liquidity and Secondary mortgage market development |
Restrictive underwriting requirements, expensive variable rate mortgage products and high down payment requirements are just a few obstacles that hinder aspiring homeowners in the OIC from accessing mortgage finance. CGI recognizes that tailored government programs and strategic public private partnerships are required to address constraints to mortgage accessibility and affordability.
CGI offers its expertise to OIC policy makers and government ministries on a wide range of mortgage industry related policy and structural matters to create the legal, regulatory and secondary market landscape that allows for the development of a sound and healthy mortgage industry.
CGI’s secondary market services include:
- credit guarantees
- mortgage insurance
- mortgage liquidity facilities
- securitization and sukuk structuring
In addition to setting up Shari’ah financing within jurisdictions where the legal code and standards for Shari’ah mortgages are evolving or do not exist, CGI management has worked with and counseled policy makers, regulators, rating agencies and secondary market investors internationally on a range of mortgage industry matters.
Accomplishments of cgi REMA team members include:
| - | Achieving buy-in from Standard & Poor’s and Fitch Ratings on true-sale securitization of Musharakah Mutanaqisa contracts. |
| - | Creating a Shari’ah compliant liquidity source through a master purchase agreement for commercial real estate financing with major Wall Street institutions. |
| - | Negotiating and securing USD 30 million Shari’ah compliant commercial mortgage liquidity facility with US based state bank using Ijara wa Iqtina mortgage products. |
| - | Working with regulators from the Federal Deposit Insurance Company (FDIC), Office of Thrift Supervision (OTS), and Federal Reserve Bank to develop regulatory mechanism to promote Shari’ah compliant mortgage product origination in US market. | - | Collaborating with Freddie Mac to secure a USD 200 million mortgage liquidity commitment to establish the first Shari’ah compliant residential real estate finance product in the United States. | - | Leading the launch of the first residential mortgage backed sukuk in the GCC. | - | Advising a leading GCC economy on the development of a mortgage guarantee program and liquidity facility. |
