The Housing Finance System

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A. Primary Housing Finance Market

A.1 Industry Structure and Performance
VariableEnd of 2013End of 2012End of 2011SourcesVar ID
Types of originating lenders/market share:A.1.2
Level of Non-Performing Mortgage Loans (90 days or more past due):A.1.6
Average 1997-2007 A.1.7
A.2 Size of Mortgage Finance Sector
VariableEnd of 2013End of 2012End of 2011SourcesVar ID
Total amount of home mortgage loans outstanding at the end of year in millions of USD:1,649.2 USD (millions)1,490.7 USD (millions)1,423 USD (millions)
Banco Central del Ecuador
A.2.1
Total amount of home mortgage loans outstanding at the end of year as % of GDP (current)1.8%1.77%1.85%
Banco Central del Ecuador
A.2.1.1
and as % of all credits outstanding6.54%6.62%7.05%
Banco Central del Ecuador
A.2.1.2
Total # of home mortgage loans outstanding at the end of year40,679 thousand38,548 thousand38,734 thousand
Banco Central del Ecuador
A.2.2
A.3 Housing Finance Products
VariableEnd of 2013End of 2012End of 2011SourcesVar ID
Mortgage products as % of all mortgages (approx.) in local currency:A.3.1
Most prevalent type of foreign currency mortgage used:A.3.3
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 LTV100%100% 
BIESS, Banco Pichincha
A.3.8.1
Maximum term over which pmt is calculated? 25 years25 years 
BIESS, Banco Pichincha
A.3.9
Mortgage pmt-to-income ratio A.3.10
A.4 Lending and Servicing Process
VariableEnd of 2013End of 2012End of 2011SourcesVar ID
Which institutions define underwriting rules? A.4.2
A.5 Credit Risk Assessment
VariableEnd of 2013End of 2012End of 2011SourcesVar ID
Do credit bureaus exist? YesYes 
Equifax
A.5.2
B. Funding Sources for Mortgages and the Secondary Mortgage Market
VariableEnd of 2013End of 2012End of 2011SourcesVar ID
What are the main funding sources for mortgages?B.1
Retail funding (deposits/other)secondarysecondarysecondary
BIESS, BCE
B.1.1
Wholesale funding: loans from other banks or corporations  Non-applicable
 
B.1.2
Funding through mortgage bonds   Non-applicable
 
B.1.3
Funding through securitization of mortgages  Non-applicable
 
B.1.4
Other primaryprimaryprimary
BIESS, BCE
B.1.5
C. Housing Microfinance
VariableEnd of 2013End of 2012End of 2011SourcesVar ID
Types of lenders operating in the housing micro-finance (HMF) sector:C.2
Level of NPLs (>90 days past due) in HMFC.4
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Notes: Two credit bureaus Transunion and Equifax operate in Ecuador.
Notes: Two credit bureaus Transunion and Equifax operate in Ecuador.
Notes: The Banco del Instituto Ecuatoriano de Seguridad Social is the largest player in the Ecuadorian housing finance system providing over half the loans in both number and value. It funds its mortgage book from social security payments made to its pension fund.
Notes: The Banco del Instituto Ecuatoriano de Seguridad Social is the largest player in the Ecuadorian housing finance system providing over half the loans in both number and value. It funds its mortgage book from social security payments made to its pension fund.
Notes: The Banco del Instituto Ecuatoriano de Seguridad Social is the largest player in the Ecuadorian housing finance system providing over half the loans in both number and value. It funds its mortgage book from social security payments made to its pension fund.
Notes: The Housing Incentive System of Ecuador provides low and middle income families with one-time vouchers for home purchase, construction and home improvements.
Notes: The Housing Incentive System of Ecuador provides low and middle income families with one-time vouchers for home purchase, construction and home improvements.
Notes: The Housing Incentive System of Ecuador provides low and middle income families with one-time vouchers for home purchase, construction and home improvements.
Notes: The Housing Incentive System of Ecuador provides low and middle income families with one-time vouchers for home purchase, construction and home improvements.
Notes: The Housing Incentive System of Ecuador provides low and middle income families with one-time vouchers for home purchase, construction and home improvements.
Notes: The Housing Incentive System of Ecuador provides low and middle income families with one-time vouchers for home purchase, construction and home improvements.
Notes: The sum of the public (from BIESS) and private (BCE) sectors, $766,414,000 and $656,900,000 respectively
Notes: While BIESS offers 100% loans, other commercial banks offer up to 70% financing.
Notes: While BIESS offers 100% loans, other commercial banks offer up to 70% financing.
Notes: While BIESS offers loans for 25 years, private banks offers loans for 20 years
Notes: While BIESS offers loans for 25 years, private banks offers loans for 20 years