India Mortgage Guarantee Corporation - IMGC

India Mortgage Guarantee Corporation - IMGC

Founded in 2006, IMGC is India's first Mortgage Guarantee company, with a mission to facilitate early homeownership and make housing more affordable. Regulated by Reserve Bank of India (RBI) guidelines for mortgage guarantee companies, IMGC aims to mitigate risk for lending institutions by providing a backstop against credit defaults.

Having partnered with over 20 lending institutions, including banks, housing finance companies, and non-banking finance companies, IMGC has helped over 100,000 customers realize their dream of owning a home, issuing guarantees of over ₹20,000 Crore.

The mortgage guarantee program offers a first-loss credit default guarantee to protect against losses from non-repayment by borrowers toward home loans. It also enables lender institutions to expand their product offerings by using risk mitigation as an effective tool. The program benefits customers by offering freedom in terms of choice of lenders and interest rates, higher eligibility, and flexible repayment terms, enabling early homeownership. For lenders, it helps tackle unexpected losses, increases approval rates with lower associated risk, facilitates credit and geographic expansion, and provides cash-flow support at NPA.

In their most recent corporate round investment in 27 April 2022, IMGC received funding from Sagen MI Canada. Operating in the finance, financial services, and insurance industries, with headquarters in India, IMGC has contributed significantly to expanding access to finance for underserved and unserved segments of society while ensuring financial stability.