No Need to Visit 'Jumin Center' on Mortgage Loan Day... Bank Verifies Move-in Information

Previously, Submission of Jeonipseidae Confirmation Required
From October, System Integration... Banks Will Verify

From now on, when applying for mortgage loans or jeonwolse (monthly rent) loans, applicants will no longer need to visit the community service center to obtain a certificate of household registration transfer and submit it to financial institutions. Through system linkage, banks can directly verify household transfer information with the applicant's consent.

On the 30th, the Ministry of the Interior and Safety signed an "Online Linkage Agreement for Household Transfer Information" with the Digital Platform Government Committee, the five major commercial banks, and the Korea Federation of Banks at the federation's conference room.

[Image source=Yonhap News]

Under this agreement, the seven institutions agreed to link the resident registration system and loan systems so that when applying for mortgage or jeonwolse loans, loan officers can directly verify household transfer information with only the applicant's consent to provide information. Loan applicants no longer need to separately obtain and submit a certificate of household registration transfer.

The certificate of household registration transfer is a document that verifies the names and transfer dates of the head of household and cohabitants registered at the location of the building or facility. Financial institutions have required this certificate two to three times during the loan process?at application, just before loan execution, and after a certain period post-execution?to confirm real estate rights and changes. Each time, applicants had to visit the community service center in person to obtain the certificate.

To resolve these inconveniences, since March, the Ministry of the Interior and Safety and the Digital Platform Government Committee have been discussing online linkage plans for household transfer information with the five major banks during mortgage loan applications. Starting with this agreement, by September, they plan to complete the linkage between the Ministry’s resident registration system and the five banks’ loan systems through the Administrative Information Joint Use System. From October, the system will be piloted for apartment mortgage loans where the building ledger address has been updated, and later expanded to include multi-unit and row houses.

Loan applicants will save time and costs associated with visiting community service centers, and financial institutions are expected to prevent loan fraud caused by misuse of household transfer certificates.

Ko Jin, Chairperson of the Digital Platform Government Committee, emphasized, "This online linkage of household transfer information is a good example of improving public inconvenience based on cooperation between the government and the private sector."

Ko Ki-dong, Vice Minister of the Ministry of the Interior and Safety, stated, "Until now, we focused on breaking down data silos between administrative and public institutions, but going forward, we will strive for data linkage and openness targeting private sectors closely related to citizens’ lives, such as financial institutions."

This content was produced with the assistance of AI translation services.