housing finance loan applications

Housing Finance Corporation Struggles Amid Surge in Loan Applications

The Housing Finance Corporation (HFC) is struggling with loan applications due to a surge in demand and understaffing, with processing times reaching 67 months in highdemand areas like Nicosia and Limassol. The HFC also faces financial strain from a high percentage of nonperforming loans, posing risks to government funds and prompting calls for immediate improvements in staffing and technology.