HOFINET | Housing Finance Information Network

The Housing Finance System

PDF featuring variable definitions

A. Primary Housing Finance Market

Variable	End of 2018	End of 2017	End of 2016	Sources	Var ID
Number of firms originating and funding mortgage loans			16	BDDK	A.1.1
Types of originating lenders/market share:					A.1.2
Universal/ commercial banks			100% of total	BDDK	A.1.2.1
Non-depository financial institutions specialized in housing finance			0% of total	BDDK	A.1.2.3
Are there (quasi) public mortgage lenders:	Yes	Yes	Yes	Research	A.1.4
Universal/ commercial banks	Yes	Yes	Yes	Ziraat bank	A.1.4.1
Other depository institutions (savings and loans/mutual savings and credit institutions)			No	Country Editor	A.1.4.2
Non-depository financial institutions specialized in housing finance			No	Country Editor	A.1.4.3
General non-depository financial institutions			No	Country Editor	A.1.4.4
Others (e.g. insurance co, pension funds, labor tax funds)			No	Country Editor	A.1.4.5
Level of Non-Performing Mortgage Loans (90 days or more past due):					A.1.6
as a % of # of loans			.47%	Country Editor	A.1.6.1
as a % of outstanding loan amount			2.17%	The Banks Association of Turkey	A.1.6.2
Average 1997-2007					A.1.7
as a % of outstanding loan amount			1.13%	The Banks Association of Turkey	A.1.7.2

Variable	End of 2018	End of 2017	End of 2016	Sources	Var ID
Total amount of home mortgage loans outstanding at the end of year in millions of USD:	35,725.45 USD (millions)	50,726.42 USD (millions)	46,527.99 USD (millions)	Central Bank of Turkey	A.2.1
Total amount of home mortgage loans outstanding at the end of year as % of GDP (current)	4.63%	5.95%	5.39%	Central Bank of Turkey, WEO	A.2.1.1
and as % of all credits outstanding	9.95%	11.08%	11.36%	Central Bank of Turkey	A.2.1.2
Total # of home mortgage loans outstanding at the end of year	2,283 thousand	2,301 thousand	2,079 thousand	Banks Association of Turkey	A.2.2
Total amount of home mortgages made in calendar year in millions of USD	8,122.95 USD (millions)	18,762.69 USD (millions)	18,905.15 USD (millions)	Banks Association of Turkey	A.2.3
and as % of GDP (current)	1.05%	2.2%	2.19%	Banks Association of Turkey	A.2.3.1
and as % of all credits originated in calender year	24.16%	31.06%	31.09%	Banks Association of Turkey	A.2.3.2
Total # of home mortgage originations made in calendar year	281.87 thousand	495.56 thousand	475.13 thousand	Banks Association of Turkey	A.2.4

Variable	End of 2018	End of 2017	End of 2016	Sources	Var ID
Mortgage products as % of all mortgages (approx.) in local currency:					A.3.1
Fixed rate for life of loan			100%	Country Editor	A.3.1.1
Variable rate/indexed			0%	Country Editor	A.3.1.2
Variable rate/discretionary			0%	Country Editor	A.3.1.3
Other fully amortizing loans (e.g. Rollover)			0%	Country Editor	A.3.1.4
Non-fully amoritizing loans (e.g. Price level adjusted/Interest only)			0%	Country Editor	A.3.1.5
Loans based on foreign currency as % of all mortgage products	0%	0%	0%	IMF	A.3.2
Most prevalent type of foreign currency mortgage used:					A.3.3
Fixed rate for life of loan	0%	0%	0%	IMF	A.3.3.1
Variable rate/indexed	0%		0%	IMF	A.3.3.2
Variable rate/discretionary	0%	0%	0%	IMF	A.3.3.3
Other (describe in the Notes section)			0%	IMF	A.3.3.4
Most frequent interest rates on fully amortizing:					A.3.4
Typical lender fees associated with mortgage origination:					A.3.6
Typical third party fees associated with mortgage origination:					A.3.7
Loan-to-Value (LTV) on first mortgage:					A.3.8
Maximum LTV	80	80	80	International Journal of Islamic and Middle Eastern Finance and Management	A.3.8.1
Typical LTV at origination			75	Country Editor	A.3.8.2
Mortgage pmt-to-income ratio					A.3.10
Typical pmt-to-income ratio (Individual income)			35%	Country Editor	A.3.10.4

Variable	End of 2018	End of 2017	End of 2016	Sources	Var ID
Does the mortgage industry use standard principles/guidelines for underwriting?	Yes	Yes	Yes	Country Editor	A.4.1
Which institutions define underwriting rules?					A.4.2
Central Bank/Ministry of Finance	No	No	No	Country Editor	A.4.2.1
Secondary market facility	No	No	No	Country Editor	A.4.2.2
Major Lender	No	No	No	Country Editor	A.4.2.3
Other	Yes	Yes	Yes	Banking Regulation and Supervisory Agency	A.4.2.4
Are loan originations conducted by others than employees of lenders?			No	BDDK Legislation	A.4.3
% of Originations done by brokers			0%	Country Editor	A.4.3.1
% of Originations done on the internet			0%	Country Editor	A.4.3.2
% of appraisals done by employees of lenders			0%	BRSA Press Release Concerning Collateral Ratios	A.4.4
Do third party servicing institutions exist?			No	Country Editor	A.4.5
% of loans serviced by originators/lenders			100%	Country Editor	A.4.6

Variable	End of 2018	End of 2017	End of 2016	Sources	Var ID
Do credit bureaus exist?	Yes	Yes	Yes	Kredi Kayit Burosu	A.5.2
Are there legal/regulatory constraints to gaining access to credit information?			No	Country Editor	A.5.2.1
What percentage of mortgage originations use credit scoring?			Not available	Country Editor	A.5.1
Is mortgage default insurance available?			Yes	Country Editor	A.5.3
Are credit guarantee systems used?			No	Country Editor	A.5.4
Is there public sponsored MI / guarantee?			No	Country Editor	A.5.5

Variable	End of 2018	End of 2017	End of 2016	Sources	Var ID
What are the main funding sources for mortgages?					B.1
Retail funding (deposits/other)	primary	primary	primary	Gyoder	B.1.1
Wholesale funding: loans from other banks or corporations	secondary	secondary	secondary	Gyoder	B.1.2
Funding through mortgage bonds	tertiary	tertiary	tertiary	Bonds, Loans	B.1.3
Funding through securitization of mortgages	quarternary	Non-applicable	Non-applicable	Daily Sabah	B.1.4

Variable	End of 2016	Sources	Var ID
Are non-collateralized housing micro-finance loans offered?	No	Country Editor	C.1
Types of lenders operating in the housing micro-finance (HMF) sector:			C.2
Commercial banks	Yes	Country Editor	C.2.1
Specialized non-depository MFIs	Yes	Country Editor	C.2.2
NGOs	No	Country Editor	C.2.3
Others	No	Country Editor	C.2.4
None	No	Country Editor	C.2.5
Level of NPLs (>90 days past due) in HMF			C.4
Are non-collateralized but secured housing finance products offered (e.g. secured by pension or insurance savings)	No	Country Editor	C.5