On April 11, Huashang Bao reported that at least 558 million yuan of the purchase price of the Lanting Mansion Project in Fengdong New Town, Fengdong New Town, Xixian New District, had not entered the regulatory account, and there was currently the latest progress - the Fengdong New Town Construction and Development Department confirmed that there were illegal operations by developers, supervisory banks and mortgage banks, the Xixian New District Housing and Construction Bureau announced that the illegal acts were deducted points, and the credit information of the project developer, Greenland Group Xi'an Haokun Real Estate Co., Ltd., was "directly rated as poor".
The buyer accidentally found that the purchase price had not entered the regulatory account
Since 2016, the Department of Housing and Urban-Rural Development of Shaanxi Province and other departments have clearly required that all pre-sale funds for commercial housing should be directly deposited into a special supervision account for supervision, and development enterprises shall not directly collect or set up a separate account to receive and deposit the purchase price of buyers.
In August 2019, the owner took a mortgage loan to purchase a commercial house in Lanting Mansion, Phase III of Greenland Xinli City, and the contract agreed to deliver the house on November 15, 2022.
At the beginning of September 2021, the owner unexpectedly learned that the purchase price of the project had not entered the special account of supervision.
After investigation, the Huashang Daily reporter found that as of 9:30 a.m. on March 1 this year, the project involved 953 house purchase funds from a number of banks that had not entered the regulatory bank account. Among them, the Xi'an branch of China Minsheng Bank, one of the mortgage banks of the project, has at least 657 purchases of 558 million yuan that have not entered the regulatory account.
Greenland Group: Immediate rectification, and actively pool funds to the supervision account
At 9:00 a.m. on April 12, in response to the report of Huashang Daily, the relevant staff of the Northwest Branch of Greenland Group said that in response to the problems reflected by the owners, the company will immediately rectify, strictly abide by the relevant policy requirements, standardize operations, and protect the vital interests of the buyers. For the buyer's concern that the purchase price does not enter the supervision account will lead to the delay in delivery, the staff member said that the company will strive to deliver in accordance with the delivery time agreed in the contract under the premise of ensuring the quality of the project, if there is an extension, it will be paid according to the actual situation, after deducting the number of days of force majeure such as the impact of the epidemic, in accordance with the compensation standard agreed in the contract.
So, what will happen to the $558 million purchase price that does not enter the regulatory account? The staff member said that at present, the company is actively pooling funds to bank supervision accounts to solve the needs of delivery project funds and ensure the smooth delivery of projects.
Minsheng Bank: Twice sent notification letters to Greenland Group to check the construction progress several times
At 10 o'clock on April 11, a reporter from Huashang Daily came to the Xi'an branch of China Minsheng Bank, one of the mortgage banks of the Lanting Mansion Project in Phase III of Greenland Xinlicheng, and asked whether the purchase price of 558 million yuan had not entered the regulatory account and whether the developer had explained these funds. Late on the night of the 13th, the bank replied that it had sent two notification letters to Greenland Group, requesting that the mortgage loans that had been issued be transferred to the corresponding regulatory account as soon as possible, and that the construction progress be checked several times to strengthen supervision and coordination. Follow-up will continue to track the progress of the project, and urge Greenland Group to accelerate the construction of the project.
Fengdong New Town Development and Construction Department: Greenland Company has been asked to attach great importance to this matter and ensure the subsequent construction and delivery of the project
In response to the report on April 11, the Fengdong New Town Development and Construction Department replied to the Huashang News that after the matter was reported, the Fengdong New Town Development and Construction Department attached great importance to it and arranged special personnel to investigate and verify.
After investigation, the Greenland Lanting Mansion project obtained the land use permit in November 2018 and started construction in March 2019, covering a total area of 194 mu, with a total of 23 residential buildings, 2 commercial buildings and 1 kindergarten. The development and construction procedures of the project are complete, and the pre-sale permit for commercial housing has been handled in accordance with the regulations.
In response to the fact that the owner is concerned that many of the house purchase funds have not entered the regulatory bank account, the reply letter said that in accordance with the requirements of the Notice on Further Strengthening the Supervision of Pre-sale Funds for Commercial Housing, all the purchase funds including the purchase deposit, down payment and mortgage payment of commercial housing must be paid in full to the pre-sale fund supervision account designated by the project at the pre-sale stage.
After investigation by the Ministry, the construction unit of the project, Greenland Group Haokun Real Estate Co., Ltd., the project supervision bank and the mortgage bank had illegal operations, and failed to transfer part of the mortgage loan of the project to the pre-sale fund supervision account of the project.
The problem that the pre-sale funds of the Greenland Lanting Mansion project did not enter the regulatory account occurred in 2019, when the "Measures for the Supervision and Administration of Pre-sale Funds for Commercial Housing in Xi'an City" (old measures) required the fund supervision bank to perform its regulatory duties, and there were certain regulatory loopholes. To this end, in October 2021, the Ministry stopped the supervision agreement of all projects for sale in the jurisdiction, and in accordance with the requirements of the Measures for the Supervision and Administration of Pre-sale Funds of Commercial Housing in Xi'an (New Measures), the administrative department as the supervisor re-signed a new tripartite fund supervision agreement (new agreement) with the project construction unit for sale and the supervising bank, plugging the loophole that the pre-sale supervision funds did not enter the supervision account.
At present, the Development and Construction Department of Fengdong New Town in Xixian New Area has asked Greenland Company to attach great importance to this matter, earnestly fulfill the main responsibility of the enterprise, make a positive response to the problems reflected in the report, and ensure the subsequent construction and delivery of the project. At the same time, strictly implement the new tripartite supervision agreement, strengthen policy publicity and business training, strengthen the self-discipline of development enterprises and financial service institutions, give full play to the role of the real estate credit supervision platform, increase the exposure and punishment of illegal projects, further standardize the use of pre-sale supervision funds, and effectively protect the rights and interests of buyers.
Xixian New Area Housing and Construction Bureau: Developer credit information "directly rated as poor"
On April 12, the Xixian New Area Housing and Construction Bureau issued the "Announcement on the Deduction of Points for Illegal Acts of Real Estate Enterprises in Xixian New Area", and the developer of the Greenland Lanting Mansion Project, Greenland Group Xi'an Haokun Real Estate Co., Ltd., was confirmed to have violated the law and regulations: "There is a situation that the pre-sale funds of commercial housing have not all entered the fund supervision account." According to Article 6.2 of the Detailed Rules for the Implementation of credit information management of real estate development enterprises in Xixian New Area (Trial Implementation), "those who refuse to accept the supervision of pre-sale funds during the pre-sale period, withdraw or misappropriate the pre-sale funds' are directly assessed as poor grades.' ”
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Housing enterprises with poor credit ratings are not allowed to undertake new development business
Restrict participation in the investment and operation of some government projects
After inquiring into the "Detailed Rules for the Implementation of credit information management for real estate development enterprises in Xixian New Area (trial implementation)", a reporter from Huashang Daily found that if the credit rating score of the Xixian New Area Housing and Construction Bureau is less than 60 points, it is designated as an enterprise with a poor credit rating. At the same time, the Xixian New Area Housing and Urban-Rural Development Bureau includes Level 4 (poor credit rating) development enterprises and development enterprises that have reached the credit early warning value in the previous year or the current year into the list of key development enterprises, and the supervision time is not less than 2 years.
What will be the impact on housing enterprises? The Xixian New Area Housing and Urban-Rural Development Bureau said that the regulatory authorities will impose the following key regulatory measures in red markings on these enterprises, such as enterprise development qualifications must not be upgraded, and after the development of existing projects is completed, they must not undertake new development business; they will issue letters of recommendation to the People's Bank of China and financial regulators to restrict credit; restrict participation in the construction management of government investment projects; and restrict investment and operation of urban infrastructure projects in the government BT and PPP models.
Huashang Daily reporter Chen Sicun