NHB slams home financiers for selling insurance policies with housing loans
representative image The National Housing Bank (NHB) has reprimanded home financiers for mis-selling insurance policies bundled with housing loans. The regulator has instructed these companies to stop bundling insurance products without adequately informing borrowers about the terms and conditions of the policies. In two separate communications – dated March 12, 2025, and December 10, 2024 – the NHB has directed housing finance companies (HFC) to obtain explicit consent from customers and provide them with insurance options from at least two providers, ensuring greater transparency and competitive pricing.This directive follows a warning issued to HFC CEOs in January, where NHB had…