Affordable housing is set to lift off big time, says IMGC CEO Mahesh Misra

The stress is still there, but the worst is behind us, said Misra

Indian Mortgage Guarantee Company (IMGC), the country’s first mortgage guarantee firm, has seen its portfolio cross the Rs 15,000-crore mark. It has on-boarded 23-plus lenders, including State Bank of India, ICICI Bank, Axis Bank, LIC Housing Finance, and HDFC Ltd, which account for more than 60 per cent of the home-loan market. MAHESH MISRA, IMGC’s chief executive officer, spoke with Raghu Mohan about the road ahead. Edited excerpts:

What’s been your experience on the mortgage guarantee front — delinquency, the movement in premiums, settlements?

Towards the second half of last year, we saw delinquencies worsening. Non-performing assets (NPAs), which were less than