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
Other depository institutions (savings and loans/mutual savings and credit institutions)  50.6% of total
International Development Bank
A.1.2.2
Non-depository financial institutions specialized in housing finance  26.91% of total
International Development Bank
A.1.2.3
Others (e.g. insurance co, pension funds, labor tax funds)  22.49% of total
International Development Bank
A.1.2.5
Are there (quasi) public mortgage lenders:YesYesYes
 
A.1.4
Level of Non-Performing Mortgage Loans (90 days or more past due):A.1.6
as a % of outstanding loan amount3.9%  
IMF
A.1.6.2
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:1,635.91 USD (millions)1,627.48 USD (millions)1,578.77 USD (millions)
CNBS
A.2.1
Total amount of home mortgage loans outstanding at the end of year as % of GDP (current)8.67%8.8%8.95%
CNBS
A.2.1.1
Total amount of home mortgages made in calender year in millions of USD 120.09 USD (millions)142.91 USD (millions)A.2.3
and as % of GDP (current)  .66%.82%
Banco Hondureño para la Producción y la Vivienda
A.2.3.1
and as % of all credits originated in calender year 53.36%57.37%A.2.3.2
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 LTV  80
Housing Finance in Emerging Markets
A.3.8.1
Mortgage pmt-to-income ratio A.3.10
Maximum pmt-to-income ratio (HH income)33%  
Global Housing Indicators
A.3.10.1
A.4 Lending and Servicing Process
VariableEnd of 2013End of 2012End of 2011SourcesVar ID
Which institutions define underwriting rules? A.4.2
Secondary market facilityYesYesYes
Banhprovi
A.4.2.2
A.5 Credit Risk Assessment
VariableEnd of 2013End of 2012End of 2011SourcesVar ID
Is mortgage default insurance available?Yes  
Global Housing Indicators
A.5.3
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)Primary  
CNBS
B.1.1
Other Secondary  
CNBS
B.1.5
C. Housing Microfinance
VariableEnd of 2013End of 2012End of 2011SourcesVar ID
Are non-collateralized housing micro-finance loans offered? Yes  
Global Housing Indicators
C.1
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: Figure listed includes five housing finance related activities: housing purchase, lot and construction, housing construction, lot purchase, and improvements. (Compra de vivienda, lote y construccion, construccion de vivienda, compra de lote y mejoras), which is extracted from the total in housing sector.
Notes: Figure listed includes five housing finance related activities: housing purchase, lot and construction, housing construction, lot purchase, and improvements. (Compra de vivienda, lote y construccion, construccion de vivienda, compra de lote y mejoras), which is extracted from the total in housing sector.
Notes: Figure listed includes five housing finance related activities: housing purchase, lot and construction, housing construction, lot purchase, and improvements. (Compra de vivienda, lote y construccion, construccion de vivienda, compra de lote y mejoras), which is extracted from the total in housing sector.
Notes: Figure listed includes five housing finance related activities: housing purchase, lot and construction, housing construction, lot purchase, and improvements. (Compra de vivienda, lote y construccion, construccion de vivienda, compra de lote y mejoras), which is extracted from the total in housing sector.
Notes: Substandard units calculated as any dwellings without direct access to water through public or private services. That is, they rely on wells, rivers, and streams to collect water for their homes.
Notes: 12,503.8 million lempiras with an exchange rate 1 USD equal to 18.90 Lempiras
Notes: 168mm in 2 public pension funds INJUPEMP and IMPREMA
Notes: 18,393.4 million lempiras with an exchange rate 1 USD equal to 18.90 Lempiras
Notes: 23,068.4 million lempiras with an exchange rate 1 USD equal to 18.90 Lempiras
Notes: 25,075.1 million lempiras with an exchange rate 1 USD equal to 18.90 Lempiras
Notes: 26,913.9 million lempiras with an exchange rate 1 USD equal to 18.90 Lempiras
Notes: 30,073.0 million lempiras with an exchange rate 1 USD equal to 19.05 Lempiras
Notes: 32,488.3 million lempiras with an exchange rate 1 USD equal to 19.96 Lempiras
Notes: 33,683.5 million lempiras with an exchange rate 1 USD equal to 20.59 Lempiras
Notes: 5,112.5 million lempiras with an exchange rate of 1 USD equal to 15.92 Lempiras
Notes: 5,779.9 million lempiras with an exchange rate 1 USD equal to 16.92 Lempiras
Notes: 6,738.7 million lempiras with an exchange rate 1 USD equal to 17.75 Lempiras
Notes: 8,033.6 million lempiras with an exchange rate 1 USD equal to 18.63 Lempiras
Notes: 9,448.5 million lempiras with an exchange rate 1 USD equal to 18.90 Lempiras
Notes: BANHPROVI
Notes: Figure listed includes five housing finance related activities: housing purchase, lot and construction, housing construction, lot purchase, and improvements. (Compra de vivienda, lote y construccion, construccion de vivienda, compra de lote y mejoras), which is extracted from the total in housing sector.
Notes: Figure listed includes five housing finance related activities: housing purchase, lot and construction, housing construction, lot purchase, and improvements. (Compra de vivienda, lote y construccion, construccion de vivienda, compra de lote y mejoras), which is extracted from the total in housing sector.
Notes: Figure listed includes five housing finance related activities: housing purchase, lot and construction, housing construction, lot purchase, and improvements. (Compra de vivienda, lote y construccion, construccion de vivienda, compra de lote y mejoras), which is extracted from the total in housing sector.
Notes: Figure listed includes five housing finance related activities: housing purchase, lot and construction, housing construction, lot purchase, and improvements. (Compra de vivienda, lote y construccion, construccion de vivienda, compra de lote y mejoras), which is extracted from the total in housing sector.
Notes: Figure listed includes five housing finance related activities: housing purchase, lot and construction, housing construction, lot purchase, and improvements. (Compra de vivienda, lote y construccion, construccion de vivienda, compra de lote y mejoras), which is extracted from the total in housing sector.
Notes: Figure listed includes five housing finance related activities: housing purchase, lot and construction, housing construction, lot purchase, and improvements. (Compra de vivienda, lote y construccion, construccion de vivienda, compra de lote y mejoras), which is extracted from the total in housing sector.
Notes: Figure listed includes five housing finance related activities: housing purchase, lot and construction, housing construction, lot purchase, and improvements. (Compra de vivienda, lote y construccion, construccion de vivienda, compra de lote y mejoras), which is extracted from the total in housing sector.
Notes: Figure listed includes five housing finance related activities: housing purchase, lot and construction, housing construction, lot purchase, and improvements. (Compra de vivienda, lote y construccion, construccion de vivienda, compra de lote y mejoras), which is extracted from the total in housing sector.
Notes: Figure listed includes five housing finance related activities: housing purchase, lot and construction, housing construction, lot purchase, and improvements. (Compra de vivienda, lote y construccion, construccion de vivienda, compra de lote y mejoras), which is extracted from the total in housing sector.
Notes: Figure listed includes five housing finance related activities: housing purchase, lot and construction, housing construction, lot purchase, and improvements. (Compra de vivienda, lote y construccion, construccion de vivienda, compra de lote y mejoras), which is extracted from the total in housing sector.
Notes: Figure listed is only based on total credits to production and housing sector, including: Housing, Micro-credit, Production and Real Estate sectors.
Notes: Figure listed is only based on total credits to production and housing sector, including: Housing, Micro-credit, Production and Real Estate sectors.
Notes: Figure listed is only based on total credits to production and housing sector, including: Housing, Micro-credit, Production and Real Estate sectors.
Notes: Figure listed is only based on total credits to production and housing sector, including: Housing, Micro-credit, Production and Real Estate sectors.
Notes: Figure listed is only based on total credits to production and housing sector, including: Housing, Micro-credit, Production and Real Estate sectors.
Notes: Figure listed is only based on total credits to production and housing sector, including: Housing, Micro-credit, Production and Real Estate sectors.
Notes: Figure listed is only based on total credits to production and housing sector, including: Housing, Micro-credit, Production and Real Estate sectors.
Notes: FONAPROVI was established in 1997
Notes: FONAPROVI, RAP, are the second-tier institutions that lend mortgage funds at below-market rates.
Notes: Government agencies, especially the Honduran Bank of Production and Housing
Notes: Government agencies, especially the Honduran Bank of Production and Housing
Notes: Government agencies, especially the Honduran Bank of Production and Housing
Notes: http://books.google.com/books?id=1Z4GkOALh6YC&pg=PA15&lpg=PA15&dq=honduras+mortgage+LTV&source=bl&ots=BupOg9nXEn&sig=ZqMNMkqICwKbqrCMrZTOKu3sn-U&hl=en&sa=X&ei=XCM6VMKsKtXIsASg7YDIDA&ved=0CD4Q6AEwBQ#v=onepage&q=honduras%20mortgage%20LTV&f=false
Notes: https://www.imf.org/external/pubs/ft/scr/2016/cr16363.pdf
Notes: https://www.imf.org/external/pubs/ft/scr/2016/cr16363.pdf
Notes: Number of commercial banks / number of total institutions, based on a list of institutions given by BANHPROVI
Notes: Number of non-depository institutions / total number of institutions, based on a list given by banhprovi
Notes: Number of other depository institutions / number of total institutions, based on a list given by BANHPROVI
Notes: Number of other institutions / number of total institutions, based on a list given by BANHPROVI
Notes: RAP and FUNDEVI provides subsidies to households.
Notes: RAP was created in the context of FOSOVI in 1991
Notes: RAP was created in the context of FOSOVI in 1991
Notes: The Foundation for Development of Urban and Rural Social Housing (FUNDEVI), was born from the merger of two major programs: The Minimum Rural Housing Program (PVMR) and the Integral Program for Improving Urban Housing (PRIMHUR) in 2000.
Notes: The Foundation for Development of Urban and Rural Social Housing (FUNDEVI), was born from the merger of two major programs: The Minimum Rural Housing Program (PVMR) and the Integral Program for Improving Urban Housing (PRIMHUR) in 2000.
Notes: The Honduran Bank for Production and Housing (BANHPROVI) was created in 2005 to promote develpment through the provision of universal banking financial services for production and housing
Notes: The Honduran Bank for Production and Housing (BANHPROVI) was created in 2005 to promote develpment through the provision of universal banking financial services for production and housing
Notes: The Honduran Bank for Production and Housing (BANHPROVI) was created in 2005 to promote develpment through the provision of universal banking financial services for production and housing
Notes: The Honduran Bank for Production and Housing (BANHPROVI) was created in 2005 to promote develpment through the provision of universal banking financial services for production and housing
Notes: The Honduran Bank for Production and Housing (BANHPROVI) was created in 2005 to promote develpment through the provision of universal banking financial services for production and housing
Notes: The Honduran Bank for Production and Housing (BANHPROVI) was created in 2005 to promote develpment through the provision of universal banking financial services for production and housing
Notes: The Honduran Bank for Production and Housing (BANHPROVI) was created in 2005 to promote develpment through the provision of universal banking financial services for production and housing
Notes: The Honduran Bank for Production and Housing (BANHPROVI) was created in 2005 to promote develpment through the provision of universal banking financial services for production and housing
Notes: The Honduran Bank for Production and Housing (BANHPROVI) was created in 2005 to promote develpment through the provision of universal banking financial services for production and housing
Notes: The Honduran Bank for Production and Housing (BANHPROVI) was created in 2005 to promote develpment through the provision of universal banking financial services for production and housing
Notes: The Honduran Bank for Production and Housing (BANHPROVI) was created in 2005 to promote develpment through the provision of universal banking financial services for production and housing
Notes: There were two second–tier institutions that lend mortgage funds at below–market rates, FONAPROVI (Fondo Nacional ara la Producción y la Vivienda) and RAP (Regimen de Aportaciones Privados). Their lending rate to banks were ~15%. A third institution that makes smaller loans in combination with a subsidy is FUNDEVI (Fundación para el Deasarrollo de la Vivienda Urbana y Rural). Its lending rate was 21%.
Notes: Total mortgage porfolio was 747mm USD, 378mm USD were in commercial banks and S&Ls
Notes: total mortgage portfolio is 747 mm USD, 168mm were in 2 public pension funds, PRIMHUR and PVMR held 27mm and 6mm