The Housing Finance System

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A. Primary Housing Finance Market

A.1 Industry Structure and Performance
VariableEnd of 2017End of 2016End of 2015SourcesVar ID
Number of firms originating and funding mortgage loans22239
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A.1.1
Types of originating lenders/market share:A.1.2
Universal/ commercial banks100% of total100% of total100% of total
BOU
A.1.2.1
Other depository institutions (savings and loans/mutual savings and credit institutions)0% of total0% of total0% of total
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A.1.2.2
Non-depository financial institutions specialized in housing finance0% of total0% of total0% of total
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A.1.2.3
General non-depository financial institutions0% of total0% of total0% of total
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A.1.2.4
Others (e.g. insurance co, pension funds, labor tax funds)0% of total0% of total0% of total
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A.1.2.5
Identify the 3 largest loan originating lendersStanbic Bank, Housing Finance Bank, Centenary Bank Housing Finance Bank, Stanbic Bank Uganda, DFCU BankHousing Finance Bank, Stanbic Bank Uganda, DFCU Bank
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A.1.3
Are there (quasi) public mortgage lenders:NoNoNo
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A.1.4
Universal/ commercial banksNoNoNo
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A.1.4.1
Other depository institutions (savings and loans/mutual savings and credit institutions)NoNoNo
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A.1.4.2
Non-depository financial institutions specialized in housing financeNoNoNo
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A.1.4.3
General non-depository financial institutionsNoNoNo
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A.1.4.4
Others (e.g. insurance co, pension funds, labor tax funds)NoNoNo
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A.1.4.5
Typical lending spreads for mortgages10.82%20%18.49%
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A.1.5
Level of Non-Performing Mortgage Loans (90 days or more past due):A.1.6
as a % of outstanding loan amount 10%5.68%
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A.1.6.2
Average 1997-2007 A.1.7
as a % of outstanding loan amount   23.72%
BOU
A.1.7.2
A.2 Size of Mortgage Finance Sector
VariableEnd of 2017End of 2016End of 2015SourcesVar ID
Total amount of home mortgage loans outstanding at the end of year in millions of USD:181.49 USD (millions)213.07 USD (millions)227.48 USD (millions)
Bank of Uganda Statistics - Credit to the Private Sector
A.2.1
Total amount of home mortgage loans outstanding at the end of year as % of GDP (current).68%.84%.92%
WEO and Bank of Uganda
A.2.1.1
and as % of all credits outstanding5.47%6.42%6.76%
Bank of Uganda Statistics
A.2.1.2
Total # of home mortgage loans outstanding at the end of year  505,763,312 thousand
BOU
A.2.2
Total amount of home mortgages made in calendar year in millions of USD  763.08 USD (millions)
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A.2.3
and as % of GDP (current)   3.09%
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A.2.3.1
and as % of all credits originated in calender year  15.6%
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A.2.3.2
Total # of home mortgage originations made in calendar year  30,175 thousand
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A.2.4
A.3 Housing Finance Products
VariableEnd of 2017End of 2016End of 2015SourcesVar ID
Mortgage products as % of all mortgages (approx.) in local currency:A.3.1
Variable rate/indexed  Not available
 
A.3.1.2
Loans based on foreign currency as % of all mortgage products41.77%26.47%24.07%
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A.3.2
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 term over which pmt is calculated?   15 years
 
A.3.9
Mortgage pmt-to-income ratio A.3.10
A.4 Lending and Servicing Process
VariableEnd of 2017End of 2016End of 2015SourcesVar ID
Does the mortgage industry use standard principles/guidelines for underwriting?NoNoNo
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A.4.1
Which institutions define underwriting rules? A.4.2
Central Bank/Ministry of FinanceNoNoNo
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A.4.2.1
Secondary market facilityNoNoNo
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A.4.2.2
Major LenderYesYesYes
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A.4.2.3
OtherNoNoNo
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A.4.2.4
Are loan originations conducted by others than employees of lenders?NoNoNo
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A.4.3
Do third party servicing institutions exist? NoNoNo
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A.4.5
A.5 Credit Risk Assessment
VariableEnd of 2017End of 2016End of 2015SourcesVar ID
Do credit bureaus exist? YesYesYes
Bank of Uganda
A.5.2
Are there legal/regulatory constraints to gaining access to credit information?YesYesYes
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A.5.2.1
Is mortgage default insurance available?YesYesYes
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A.5.3
Is there public sponsored MI / guarantee?  NoA.5.5
B. Funding Sources for Mortgages and the Secondary Mortgage Market
VariableEnd of 2017End of 2016End of 2015SourcesVar ID
What are the main funding sources for mortgages?B.1
Retail funding (deposits/other)primaryprimaryprimary
Financial Statement of Housing Finance Bank
B.1.1
Wholesale funding: loans from other banks or corporationssecondarysecondarysecondary
Financial Statement of Housing Finance Bank
B.1.2
Funding through mortgage bonds Non-applicableNon-applicableNon-applicable
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B.1.3
Funding through securitization of mortgagesNon-applicableNon-applicableNon-applicable
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B.1.4
C. Housing Microfinance
VariableEnd of 2017End of 2016End of 2015SourcesVar ID
Are non-collateralized housing micro-finance loans offered? NoNoNo
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C.1
Types of lenders operating in the housing micro-finance (HMF) sector:C.2
Commercial banksNoNoNo
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C.2.1
Specialized non-depository MFIs NoNoNo
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C.2.2
NGOsYesYesYes
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C.2.3
Level of NPLs (>90 days past due) in HMFC.4
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Notes: 20%
Notes: 20%
Notes: 80%
Notes: 80%
Notes: 9 institutions offer mortgage finance, 5 dominate
Notes: Amount for general lending to real estate sector; residential, commercial and land purchase
Notes: Amount for general lending to real estate sector; residential, commercial and land purchase
Notes: Amount for general lending to real estate sector; residential, commercial and land purchase
Notes: Amount for general lending to real estate sector; residential, commercial and land purchase
Notes: Amount for general lending to real estate sector; residential, commercial and land purchase
Notes: Amount for general lending to real estate sector; residential, commercial and land purchase
Notes: Average rediscount rate over the year
Notes: Average Shs lending rate for the year - Average Central Bank Rate for the year
Notes: Average yield in 2017
Notes: Based on commercial banking data alone, 2 banks didn't issue any mortgages in 2017
Notes: Habitat for Humanity
Notes: Habitat for Humanity
Notes: Habitat for Humanity
Notes: Habitat for Humanity
Notes: In all mortgage offers, the lender retains title as collateral.
Notes: In all mortgage offers, the lender retains title as collateral.
Notes: In all mortgage offers, the lender retains title as collateral.
Notes: In all mortgage offers, the lender retains title as collateral.
Notes: Note that the building codes are awaiting the passing of the building control bill. This percentages is a combination of temporary and semi parmanent houses. Please note that except 2002 and 1991, the rest are projections
Notes: Note that the building codes are awaiting the passing of the building control bill. This percentages is a combination of temporary and semi parmanent houses. Please note that except 2002 and 1991, the rest are projections
Notes: Note that the building codes are awaiting the passing of the building control bill. This percentages is a combination of temporary and semi parmanent houses. Please note that except 2002 and 1991, the rest are projections
Notes: Note that the building codes are awaiting the passing of the building control bill. This percentages is a combination of temporary and semi parmanent houses. Please note that except 2002 and 1991, the rest are projections
Notes: Note that these are projections except for 2002 and 1991
Notes: Taken from Residential Property Price Index developed using Laspeyer's methodology. Base period 2010/11
Notes: Taken from Residential Property Price Index developed using Laspeyer's methodology. Base period 2010/11
Notes: Taken from Residential Property Price Index developed using Laspeyer's methodology. Base period 2010/11
Notes: Taken from Residential Property Price Index developed using Laspeyer's methodology. Base period 2010/11
Notes: The legal and Judiciary process for concluding a foreclosure is very lengthy, and can take over 6 months.
Notes: The legal and Judiciary process for concluding a foreclosure is very lengthy, and can take over 6 months.
Notes: The legal and Judiciary process for concluding a foreclosure is very lengthy, and can take over 6 months.
Notes: The legal and Judiciary process for concluding a foreclosure is very lengthy, and can take over 6 months.
Notes: The Mortgage Act of 2009
Notes: The Mortgage Act of 2009
Notes: The Mortgage Act of 2009
Notes: The Mortgage Act of 2009
Notes: Variable rate is the most common, tagged to 364days treasury bill rate
Notes: Variable rate is the most common, tagged to 364days treasury bill rate
Notes: Variable rate is the most common, tagged to 364days treasury bill rate
Notes: Variable rate is the most common, tagged to 364days treasury bill rate