A. Primary Housing Finance Market
A.1 Industry Structure and Performance
| Variable | End of 2017 | End of 2016 | End of 2015 | Sources | Var ID |
|---|---|---|---|---|---|
| Number of firms originating and funding mortgage loans | 25 | 25 | 25 | Country Editor | A.1.1 |
| Types of originating lenders/market share: | A.1.2 | ||||
| Universal/ commercial banks | 99.93% of total | 99.5% of total | 99.5% of total | Polish Mortgage Credit Foundation | A.1.2.1 |
| Other depository institutions (savings and loans/mutual savings and credit institutions) | .07% of total | .5% of total | .5% of total | Polish Mortgage Credit Foundation | A.1.2.2 |
| Identify the 3 largest loan originating lenders | PKO Bank Hipoteczny, Pekao Bank Hipoteczny, mBank Hipoteczny | PKO Bank Hipoteczny, Pekao Bank Hipoteczny, mBank Hipoteczny | PKO Bank Hipoteczny, Pekao Bank Hipoteczny, mBank Hipoteczny | Zwiazek Banków Polskich (Polish Bank Association) | A.1.3 |
| Are there (quasi) public mortgage lenders: | Yes | Yes | Yes | Zwiazek Banków Polskich (Polish Bank Association) | A.1.4 |
| Universal/ commercial banks | Yes | Yes | Yes | Zwiazek Banków Polskich (Polish Bank Association) | A.1.4.1 |
| Other depository institutions (savings and loans/mutual savings and credit institutions) | Yes | Yes | Yes | Zwiazek Banków Polskich (Polish Bank Association) | A.1.4.2 |
| Non-depository financial institutions specialized in housing finance | Yes | Yes | Yes | Zwiazek Banków Polskich (Polish Bank Association) | A.1.4.3 |
| General non-depository financial institutions | Yes | Yes | Yes | Zwiazek Banków Polskich (Polish Bank Association) | A.1.4.4 |
| Others (e.g. insurance co, pension funds, labor tax funds) | No | No | No | Zwiazek Banków Polskich (Polish Bank Association) | A.1.4.5 |
| Level of Non-Performing Mortgage Loans (90 days or more past due): | A.1.6 | ||||
| as a % of # of loans | 3.94% | 4.05% | 4.34% | Worldbank | A.1.6.1 |
| as a % of outstanding loan amount | 2.7% | Hypostat | A.1.6.2 | ||
| Average 1997-2007 | A.1.7 | ||||
| as a % of outstanding loan amount | 2.3% | Zwiazek Banków Polskich (Polish Bank Association) | A.1.7.2 | ||
A.2 Size of Mortgage Finance Sector
| Variable | End of 2017 | End of 2016 | End of 2015 | Sources | Var ID |
|---|---|---|---|---|---|
| Total amount of home mortgage loans outstanding at the end of year in millions of USD: | 111,680.69 USD (millions) | 94,122.7 USD (millions) | 95,891.42 USD (millions) | Polish Bank Association | A.2.1 |
| Total amount of home mortgage loans outstanding at the end of year as % of GDP (current) | 21.28% | 19.97% | 20.09% | Zwiazek Banków Polskich (Polish Bank Association) | A.2.1.1 |
| and as % of all credits outstanding | Not available | Not available | 70.53% | A.2.1.2 | |
| Total # of home mortgage loans outstanding at the end of year | 2,153.24 thousand | 2,057.17 thousand | 1,994.68 thousand | Polish Mortgage Credit Foundation | A.2.2 |
| Total amount of home mortgages made in calendar year in millions of USD | 10,933.15 USD (millions) | 10,017.29 USD (millions) | 10,431.09 USD (millions) | Country Editor | A.2.3 |
| and as % of GDP (current) | 2.08% | 2.13% | 2.19% | Zwiazek Banków Polskich (Polish Bank Association) | A.2.3.1 |
| Total # of home mortgage originations made in calendar year | 191 thousand | 178.41 thousand | 181.33 thousand | Zwiazek Banków Polskich (Polish Bank Association) | A.2.4 |
A.3 Housing Finance Products
| Variable | End of 2017 | End of 2016 | End of 2015 | Sources | Var ID |
|---|---|---|---|---|---|
| Mortgage products as % of all mortgages (approx.) in local currency: | A.3.1 | ||||
| Fixed rate for life of loan | 0% | 0% | 0% | Country Editor | A.3.1.1 |
| Variable rate/indexed | 0% | 0% | 0% | Country Editor | A.3.1.2 |
| Variable rate/discretionary | 100% | 100% | 100% | Country Editor | A.3.1.3 |
| Other fully amortizing loans (e.g. Rollover) | 0% | 0% | 0% | Country Editor | A.3.1.4 |
| Non-fully amoritizing loans (e.g. Price level adjusted/Interest only) | 0% | 0% | 0% | Country Editor | A.3.1.5 |
| Loans based on foreign currency as % of all mortgage products | 1.48% | Country Editor | A.3.2 | ||
| Most prevalent type of foreign currency mortgage used: | A.3.3 | ||||
| Fixed rate for life of loan | 0% | Country Editor | A.3.3.1 | ||
| Variable rate/indexed | 0% | 0% | 0% | Country Editor | A.3.3.2 |
| Variable rate/discretionary | 100% | 100% | 100% | Country Editor | A.3.3.3 |
| Other (describe in the Notes section) | 0% | 0% | 0% | Country Editor | A.3.3.4 |
| Most frequent interest rates on fully amortizing: | A.3.4 | ||||
| 10 year fixed rate mortgage | 4.4% | 4.4% | Hypostat | A.3.4.1 | |
| Typical lender fees associated with mortgage origination: | A.3.6 | ||||
| as % of loan amount | 1.62% | Zwiazek Banków Polskich (Polish Bank Association) | A.3.6.2 | ||
| Typical third party fees associated with mortgage origination: | A.3.7 | ||||
| Appraisal fees | 129.26 USD | 107.67 USD | 115.35 USD | Polish Bank Association | A.3.7.1 |
| Legal fees | Non-applicable | Polish Bank Association | A.3.7.3 | ||
| Loan-to-Value (LTV) on first mortgage: | A.3.8 | ||||
| Maximum LTV | 85% | 85% | 90% | Hypostat | A.3.8.1 |
| Typical LTV at origination | 70% | 70% | 70% | Zwiazek Banków Polskich (Polish Bank Association) | A.3.8.2 |
| Maximum term over which pmt is calculated? | 35 years | 35 years | 35 years | Various Polish Commercial Banks | A.3.9 |
| Mortgage pmt-to-income ratio | A.3.10 | ||||
| Maximum pmt-to-income ratio (HH income) | Not available | Not available | Not available | Zwiazek Banków Polskich (Polish Bank Association) | A.3.10.1 |
A.4 Lending and Servicing Process
| Variable | End of 2017 | End of 2016 | End of 2015 | 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 | Country Editor | A.4.2.4 |
| Are loan originations conducted by others than employees of lenders? | Yes | Yes | Yes | Country Editor | A.4.3 |
| Do third party servicing institutions exist? | Yes | Yes | Yes | Zwiazek Banków Polskich (Polish Bank Association) | A.4.5 |
A.5 Credit Risk Assessment
| Variable | End of 2017 | End of 2016 | End of 2015 | Sources | Var ID |
|---|---|---|---|---|---|
| Do credit bureaus exist? | Yes | Yes | Yes | A.5.2 | |
| Are there legal/regulatory constraints to gaining access to credit information? | Yes | Yes | Yes | Zwiazek Banków Polskich (Polish Bank Association) | A.5.2.1 |
| Is mortgage default insurance available? | Yes | Yes | Yes | European Covered Bond Council | A.5.3 |
| When did it begin operating? | 2002 | 2002 | 2002 | Zwiazek Banków Polskich (Polish Bank Association) | A.5.3.1 |
| What is the typical MI product? | Gap Insurance, Down Payment, and Unemployment Insurance | Gap Insurance, Down Payment, and Unemployment Insurance | Gap Insurance, Down Payment, and Unemployment Insurance | Zwiazek Banków Polskich (Polish Bank Association) | A.5.3.2 |
| Number of private mortgage insurers | Not available | 2 | Zwiazek Banków Polskich (Polish Bank Association) | A.5.3.3 | |
| Are credit guarantee systems used? | No | No | No | Zwiazek Banków Polskich (Polish Bank Association) | A.5.4 |
| Is there public sponsored MI / guarantee? | No | No | No | Zwiazek Banków Polskich (Polish Bank Association) | A.5.5 |
| What share of total annual mortgage production is insured/guaranteed? | 25% | Zwiazek Banków Polskich (Polish Bank Association) | A.5.7 |
B. Funding Sources for Mortgages and the Secondary Mortgage Market
| Variable | End of 2017 | End of 2016 | End of 2015 | Sources | Var ID |
|---|---|---|---|---|---|
| What are the main funding sources for mortgages? | B.1 | ||||
| Retail funding (deposits/other) | primary | primary | primary | Polish Mortgage Credit Foundation | B.1.1 |
| Wholesale funding: loans from other banks or corporations | secondary | secondary | Polish Mortgage Credit Foundation | B.1.2 | |
| Funding through mortgage bonds | tertiary | tertiary | tertiary | Polish Mortgage Credit Foundation | B.1.3 |
| Funding through securitization of mortgages | Not available | Zwiazek Banków Polskich (Polish Bank Association) | B.1.4 | ||
| What % of Residential Mortgage Backed Securities is issued by centralized conduit or liquidity facility? | Non-applicable | Zwiazek Banków Polskich (Polish Bank Association) | B.2 | ||
| What is the proportion of RMBS in the overall private securities market? | Non-applicable | Zwiazek Banków Polskich (Polish Bank Association) | B.4 | ||
C. Housing Microfinance
| Variable | End of 2017 | End of 2016 | End of 2015 | Sources | Var ID |
|---|---|---|---|---|---|
| Are non-collateralized housing micro-finance loans offered? | Yes | Yes | Yes | Zwiazek Banków Polskich (Polish Bank Association) | C.1 |
| Types of lenders operating in the housing micro-finance (HMF) sector: | C.2 | ||||
| Commercial banks | Yes | Yes | Yes | Zwiazek Banków Polskich (Polish Bank Association) | C.2.1 |
| Specialized non-depository MFIs | Yes | Yes | Yes | Zwiazek Banków Polskich (Polish Bank Association) | C.2.2 |
| NGOs | No | No | No | Zwiazek Banków Polskich (Polish Bank Association) | C.2.3 |
| Others | No | No | No | Zwiazek Banków Polskich (Polish Bank Association) | C.2.4 |
| Level of NPLs (>90 days past due) in HMF | C.4 | ||||