 Housing Finance Bank (HOFBank) was established in 1994. Its multiyear experience in housing funding, Its multiyear experience in housing funding, a thorough understanding of business processes a thorough understanding of business processes and specific features of the construction industry, as well as having an extensive regional network provide strong competitive advantages to the Bank over other market players.
The Bank's principal business was initially in commercial banking services rendered to corporate clients, mostly in the residential housing construction sector. However, in 1999 Housing Finance Bank started to develop its mortgage programs which since then have become its top priority. Currently, the Bank appears to be a dedicated mortgage lending institution offering a variety of loan products.
The Bank's experts are permanently working to build up new loan products with due account for the actual real estate market situation, the household needs, and regulatory changes.
At beginning of 2008 the Bank's regional net work included branches in Volgograd, Kaliningrad, Krasnodar, Krasnoyarsk, Lipetsk, Nijnij Novgorod, Novorossijsk, Novosibirsk, Omsk, Perm, Rostov-on-Don, Samara, Saratov and Yaroslavl, operating cash desks in Moscow and Moscow Region. The Bank was actively engaged in public and social work among peopie, carried out sessions for realtors and journalists with an aim to popularize mortgage concept.
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