PUNTA CANA - Real estate guarantees represent more than 75.7% of all appraised mortgages made in the country, said the Superintendent of Banks of the Dominican Republic, Alejandro Fernández W., yesterday, who highlighted the role that this mechanism plays in the stability of the national financial system.
"Appraisers play a fundamental role in ensuring a healthy, robust, well-guaranteed financial system where prudence prevails," Fernández stated, according to a press release issued by ITADO's communications department.
The superintendent addressed the topic "The Dominican Republic and international risk-based supervision standards: The impact of valuation on the 'Loan to Value LTV' index for the admissibility regime of guarantees of financial intermediation entities.".
"In the last 5 years the number of active appraisers in the financial system has doubled," Fernández pointed out.
XXXV UPAV/ITADO Congress 2021
Fabio García, president of ITADO, and José Alberto Beras, president of UPAV, presented the Superintendent with an award for his participation, openness, collaboration, and support in holding the event.
Among the presentations given on a variety of topics, representatives from the United States, Brazil, Venezuela, Colombia, Panama, Mexico, England, and Spain stand out.
The Congress took place at the Hard Rock Hotel in Punta Cana and was attended by more than 360 people from Latin America, the United States, Spain and England.
García expressed his gratitude to the participants, sponsors and collaborators who made possible the success achieved in this 35th edition of the UPAV congress.
ITADO is the country representative for the Pan-American Union of Valuation Associations (UPAV), an institution that brings together 19 appraisers' associations from 18 countries across the Americas and Spain. During the 2021-2022 biennium, UPAV is headquartered in the Dominican Republic, under the presidency of Engineer José Alberto Beras. The next UPAV congress will be held in Costa Rica in 2022.
