Under the tie-up, IFL Home will originate and service customers through the entire loan life-cycle
“IIFL Home Finance Ltd…and ICICI Bank have entered into a sourcing and servicing arrangement to partner in extending credit to the affordable housing loans & MSME loans (loan against property),” IIFL Finance said in a regulatory filing. Under the tie-up, IFL Home will originate and service customers through the entire loan life-cycle including sourcing, documentation, collection and loan servicing and in turn, ICICI Bank will provide funding to these customers, it added.
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Definitive agreements for the arrangement, including the sourcing agent agreement and service provider agreement were executed between IIFL Home and ICICI Bank on December 18, the filing said.