Can you tell me about the tie-up between IIFL Finance and ICICI Bank on affordable housing loans?

The home loan subsidiary of IIFL Finance tied up with ICICI Bank to provide affordable housing and MSME loans to customers. In fact, IIFL Finance and ICICI bank have entered into a sourcing and servicing arrangement, wherein they will partner in extending credit to the affordable housing loans and loans against property to MSMEs.

Under the terms of the agreement, IIFL Home will originate and service customers through the entire loan life-cycle including sourcing, documentation, collection and loan servicing and in turn, ICICI Bank will provide funding to these customers. The necessary paperwork for the deal between ICICI Bank and IIFL Home has already been completed.