The Housing Finance System

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A. Primary Housing Finance Market

A.1 Industry Structure and Performance
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
Types of originating lenders/market share:A.1.2
Universal/ commercial banks 78% of total76.34% of totalA.1.2.1
Other depository institutions (savings and loans/mutual savings and credit institutions) 22% of total23.23% of totalA.1.2.2
Others (e.g. insurance co, pension funds, labor tax funds) 0% of total.43% of totalA.1.2.5
Are there (quasi) public mortgage lenders:YesYesYesA.1.4
Non-depository financial institutions specialized in housing financeYesYesYesA.1.4.3
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 2015End of 2014End of 2013SourcesVar ID
Total amount of home mortgage loans outstanding at the end of year in millions of USD: 2,126.11 USD (millions)1,954.97 USD (millions)A.2.1
Total amount of home mortgage loans outstanding at the end of year as % of GDP (current) 2.11%2.06%A.2.1.1
and as % of all credits outstanding 7.29% A.2.1.2
Total # of home mortgage loans outstanding at the end of year  40,679 thousand
Banco Central del Ecuador
A.2.2
A.3 Housing Finance Products
VariableEnd of 2015End of 2014End of 2013SourcesVar 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 LTV100100100A.3.8.1
Typical LTV at origination707070
Various commercial banks
A.3.8.2
Maximum term over which pmt is calculated? 25 years25 years25 years
Various commercial banks
A.3.9
Mortgage pmt-to-income ratio A.3.10
A.4 Lending and Servicing Process
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
Which institutions define underwriting rules? A.4.2
A.5 Credit Risk Assessment
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
Do credit bureaus exist? YesYesYesA.5.2
B. Funding Sources for Mortgages and the Secondary Mortgage Market
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
What are the main funding sources for mortgages?B.1
Retail funding (deposits/other)primaryprimaryprimaryB.1.1
Other secondarysecondarysecondaryB.1.5
C. Housing Microfinance
VariableEnd of 2015End of 2014End of 2013SourcesVar 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: BIESS constitutes a considerable portion of mortgage loans in Ecuador, but less than 10% when compared to the total housing loan portfolio which is dominated by commercial banks. It is a non-depository government-funded entity created in late 2009.
Notes: BIESS constitutes a considerable portion of mortgage loans in Ecuador, but less than 10% when compared to the total housing loan portfolio which is dominated by commercial banks. It is a non-depository government-funded entity created in late 2009.
Notes: BIESS constitutes a considerable portion of mortgage loans in Ecuador, but less than 10% when compared to the total housing loan portfolio which is dominated by commercial banks. It is a non-depository government-funded entity created in late 2009.
Notes: BIESS constitutes a considerable portion of mortgage loans in Ecuador, but less than 10% when compared to the total housing loan portfolio which is dominated by commercial banks. It is a non-depository government-funded entity created in late 2009.
Notes: BIESS constitutes a considerable portion of mortgage loans in Ecuador, but less than 10% when compared to the total housing loan portfolio which is dominated by commercial banks. It is a non-depository government-funded entity created in late 2009.
Notes: BIESS constitutes a considerable portion of mortgage loans in Ecuador, but less than 10% when compared to the total housing loan portfolio which is dominated by commercial banks. It is a non-depository government-funded entity created in late 2009.
Notes: Calculated as total mortgage loans outstanding in private sector plus total BIESS mortgage loans outstanding.
Notes: Calculated as total mortgage loans outstanding in private sector plus total BIESS mortgage loans outstanding.
Notes: Calculated as total mortgage loans outstanding in private sector plus total BIESS mortgage loans outstanding.
Notes: Calculated as total mortgage loans outstanding in private sector plus total BIESS mortgage loans outstanding.
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: While BIESS offers other general banking services including payday loans and a small amount of investment banking services, its primary goal and objective is to provide housing finance to the people of Ecuador.
Notes: While BIESS offers other general banking services including payday loans and a small amount of investment banking services, its primary goal and objective is to provide housing finance to the people of Ecuador.
Notes: While BIESS offers other general banking services including payday loans and a small amount of investment banking services, its primary goal and objective is to provide housing finance to the people of Ecuador.
Notes: While BIESS offers other general banking services including payday loans and a small amount of investment banking services, its primary goal and objective is to provide housing finance to the people of Ecuador.
Notes: While BIESS offers other general banking services including payday loans and a small amount of investment banking services, its primary goal and objective is to provide housing finance to the people of Ecuador.
Notes: While BIESS offers other general banking services including payday loans and a small amount of investment banking services, its primary goal and objective is to provide housing finance to the people of Ecuador.
Notes: While BIESS offers other general banking services including payday loans and a small amount of investment banking services, its primary goal and objective is to provide housing finance to the people of Ecuador.
Notes: While BIESS offers other general banking services including payday loans and a small amount of investment banking services, its primary goal and objective is to provide housing finance to the people of Ecuador.