Star Housing Finance enters into co-lending agreement with Singularity Creditworld ; share gains more than 4 per cent

The company's eyes AUM growth through this partnership and aims at synergizing capabilities to provide an efficient and seamless experience to retail home loan customers, especially from the priority segment.

Star Housing Finance Limited, a low-cost housing finance company has entered into a strategic co-lending agreement to provide housing loans to EWS (Economically Weaker Section)/LIG (Low Income Group) customers with a Mumbai based NBFC – Singularity Creditworld on Bharat Housing Network Platform. 

The partnership aims at synergizing capabilities to provide an efficient and seamless experience to retail home loan customers, especially from the priority segment. The move is a part of the overall transformation journey where Star HFL shall be utilizing the capacity created through geographical expansion now having a network of 7 branches and 15 digital Points of Presence across Maharashtra, Madhya Pradesh, Gujarat, Rajasthan and Tamil Nadu.

The co-lending model provides ease of loan sanctions at borrower’s convenience through Bharat Housing Network platform, which covers end-to-end loan processing cycle with minimal manual intervention, from on-boarding of customers to loan disbursement and monitoring.

Star Housing Finance Limited (Star HFL) is BSE listed housing finance company. The company has been operational in the affordable housing finance space since the commencement of business operations in Sep 2009. Star HFL works with intent to enable homeownership through providing housing finance to target EWS/LIG customers. 

On Monday, the share gained up to 4.43 per cent and was trading at Rs 106 at 11.15 am on the BSE. On a YTD basis, the stock has gained up to 20 per cent whereas in last one month the stock is 8.2 per cent up.