The NHT will use the reports it receives to : (a) assist in designing programmes to manage and service mortgagors accounts (b) assist in verifying information submitted by individuals applying for mortgages in excess of $5.5 million, in NHT schemes.

Under the Credit Reporting Act of 2010, a credit bureau can collect the following types of information on consumers: Information about the consumers’ financial means The amount and type of loans and advances or other credit facilities granted to a consumer The type of security taken from any consumer in respect of credit facilities (including lease financing and/or hire purchase) The nature of any guarantee or other non-fund based facility accessed by a consumer History of financial transactions involving the borrower Analysis of the above information to arrive at conclusions about the

A credit bureau is an agency that collects information on a borrower’s credit history, and provides that information, for a fee, to the borrower and/or prospective lenders. Information acquired from a credit bureau allows a lender to better assess the credit worthiness of a borrower. The Credit Reporting Act 2010 provides for the licencing and operations of credit bureaus in Jamaica.

As of August 2017, the National Housing Trust will request credit reports from certain licensed bureaus.  Shortly thereafter, the NHT will also begin to share mortgagors’ loan information with those credit bureaus.

This facility is available to a contributor, whose income cannot afford the full purchase price of a scheme unit. Under this arrangement, the NHT will defer payment of up to 40% of the cost of the unit.

A parent, up to age 70, may assign his/her points to one (1) biological or legally adopted child. The parent’s points would replace the points accumulated by the child to increase the likelihood of the child  being selected for an NHT scheme solution. The child must have never received an NHT housing benefit and the parent(s) must have: Never received an NHT Non-homeowners or Homeowners loan Contributed for over ten (10) years, and Not received their total refunds

Any two (2) contributors may co-apply for a loan however three (3) family members with established kinship ties may also co-apply and access a loan to buy or build a house where the unit is at least two (2) bedrooms.

Only in instances where the price of the unit is greater than the loan amount granted  by the NHT.

The Priority Index Entitlement (PIE) System is the selection system used by the NHT to  award scheme loans to eligible contributors. Under PIE selection the criteria are: Parish of residence or Parish of employment— Applicants must live and/or work in the parish where the development is located. Number of points—Points are derived from weekly contributions and current income.