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Wenzhou issues first electronic certificates of real estate mortgage registration
【Fonts: Large Medium Small 【Source: Wenzhou·China 【Date: 2018.12.25】

By instant delivery upon mouse click, Wenzhou’s first batch of electronic certificates of real estate mortgage registration were recently issued in Rui’an. After processing applications, the Real Estate Registration Service Center in Rui’an issued the respective real estate registration certificates (e-certificate) stamped with an electronic signature to the Rui’an Rural Commercial Bank and the Agricultural Bank of China Rui'an Branch through the “Loan Mortgage Online Registration” Platform.


Previously, banks were required to get paper registration certificates after the mortgage registration was completed. Such a time-consuming and laborious procedure adversely affected the efficiency of making a loan. According to the relevant staff of the Rui’an Rural Commercial Bank,  through the “Loan Mortgage Online Registration” Platform, the bank can now send the electronic certificate of real estate registration to be reviewed online by the Rui’an Real Estate Registration Service Center. If the Service Center finds no discrepancy between the e-certificate and the correspondent entry on the real property register, it will send the bank an electronic registration certificate through a private network at the same time. After the verification and saving of the received electronic certificate, the bank is able to grant the loan. Such processing greatly facilitates enterprises and other borrowers. 


The “electronic proof" is reportedly encrypted by double encryption technology. The electronic push of the real estate registration certificate also reduces the cost of shipping, preservation and maintaining occurring in the case of paper certificates.


 “The electronic certificate of real estate mortgage registration eliminates the queuing process, making  'non face-to-face approval’ come true." said relevant person in charge of the Rui‘an Real Estate Registration Service Center. As the bank can make mortgage after getting the electronic certificate of real estate mortgage registration, there is no need for the borrowers and bank clerks to run errands.


The electronic certificate of real estate mortgage registration is another innovative measure of “running an errand for no more than once” reform in Wenzhou. The Rui'an Real Estate Registration Service Center has been optimizing the process in recent years: In the very beginning, mortgagees had to go to the local bank and the real estate registration service center for business, and then they can entrust the bank clerk responsible for filing for record to handle the business. Prior to the new measure, the bank clerk responsible for filing for record can do the business by self-printing on the machine, shortening the processing time of online mortgage registration 5.6 hours on average in comparison to 3 working days as promised. Now, service improvement has come to the last stop.


It is understood that the coming online of the electronic certificate for real estate mortgage registration is only the beginning for the Rui’an Real Estate Registration Service Center to make its approval paperless. Soon, people can inquire, download and print the “Electronic Certificate of Real Estate Mortgage Registration” through the bank pre-processing system, self-service inquiry machine, WeChat public account of“Ruian Land(Natural Resources)”, etc.. All real estate registration certificates will gradually come online by electronization in the future to improve service efficiency and convenience for the people.

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