No, there is no mandatory provision by law. The process of handling housing provident fund loans is as follows: 1. The loan applicant fills in the application form; 2. The applicant submits the application materials to the Center; 3. Confirm the customer's loan qualification through the preliminary examination of the center; 4. The borrower entrusts an appraisal firm to conduct mortgage review and appraisal; 5. Fill in the loan documents; 6. Submit the custody contract and loan contract to the developer and guarantee unit for seal; 7. buy insurance; 8. Submit the materials to the provident fund management center for review. "Regulations on the Management of Housing Provident Fund" Article 12 The Housing Provident Fund Management Committee shall, in accordance with the relevant provisions of the People's Bank of China, designate a commercial bank entrusted with the financial business of housing provident fund (hereinafter referred to as the entrusted bank); The housing provident fund management center shall entrust the entrusted bank to handle financial services such as housing provident fund loans and settlement, as well as the establishment, deposit and return procedures of housing provident fund accounts. The housing provident fund management center shall sign an entrustment contract with the entrusted bank.