A. Primary Housing Finance Market
A.1 Industry Structure and Performance
| Variable | End of 2015 | End of 2014 | End of 2013 | Sources | Var ID |
|---|---|---|---|---|---|
| Number of firms originating and funding mortgage loans | 26 | 19 | 19 | A.1.1 | |
| Types of originating lenders/market share: | A.1.2 | ||||
| Identify the 3 largest loan originating lenders | Equity Bank, Stanbic Bank and Azania Bank | Equity Bank, Azania Bank, Stanci Bank and Commercial Bank of Africa | Azania Bank Limited, Stanbi Bank (T) Limited, Commercial Bank of Africa (T) Limited | A.1.3 | |
| 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
| Variable | End of 2015 | End of 2014 | End of 2013 | Sources | Var ID |
|---|---|---|---|---|---|
| Total amount of home mortgage loans outstanding at the end of year in millions of USD: | 167.09 USD (millions) | 143.91 USD (millions) | 96.8 USD (millions) | Tanzania Mortgage Market Update December 2015 | A.2.1 |
| Total amount of home mortgage loans outstanding at the end of year as % of GDP (current) | .37% | .3% | .36% | Tanzania Mortgage Market Update December 2015 | A.2.1.1 |
| and as % of all credits outstanding | 2.34% | 1.54% | 1.18% | Bank of Tanzania and Tanzania Bankers Association | A.2.1.2 |
| Total # of home mortgage loans outstanding at the end of year | 3.39 thousand | 3.6 thousand | 2.78 thousand | Tanzania Mortgage Market Update December 2015 | A.2.2 |
| Total amount of home mortgages made in calendar year in millions of USD | Not available | Not available | 29.8 USD (millions) | A.2.3 | |
| Total # of home mortgage originations made in calendar year | Not available | Not available | 895 thousand | A.2.4 | |
| What % of total new mortgages is refinance? | 12% | 14% | 11% | Tanzania Mortgage Market Update December 2015 | A.2.5 |
A.3 Housing Finance Products
| Variable | End of 2015 | End of 2014 | End of 2013 | Sources | Var 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 | ||||
| Search fees | 18.5 USD | Not available | Not available | A.3.7.4 | |
| Loan-to-Value (LTV) on first mortgage: | A.3.8 | ||||
| Maximum LTV | 80 | The Banking and Financial Institutions Act | A.3.8.1 | ||
| Typical LTV at origination | Not available | Not available | 80 | A.3.8.2 | |
| Maximum term over which pmt is calculated? | 20 years | 20 years | 20 years | The Banking and Financial Institutions | A.3.9 |
| Mortgage pmt-to-income ratio | A.3.10 | ||||
| Maximum pmt-to-income ratio (HH income) | 40% | 40% | 40% | The Banking and Financial Institutions Act | A.3.10.1 |
| Maximum pmt-to-income ratio (Individual income) | 40% | 40% | 40% | The Banking and Financial Institutions (Mortgage Finance Regulations) | A.3.10.2 |
A.4 Lending and Servicing Process
| Variable | End of 2015 | End of 2014 | End of 2013 | Sources | Var ID |
|---|---|---|---|---|---|
| Does the mortgage industry use standard principles/guidelines for underwriting? | Yes | The Banking and Financial Institutions Act | A.4.1 | ||
| Which institutions define underwriting rules? | A.4.2 | ||||
| Central Bank/Ministry of Finance | Yes | The Banking and Financial Institutions Act | A.4.2.1 | ||
A.5 Credit Risk Assessment
| Variable | End of 2015 | End of 2014 | End of 2013 | Sources | Var ID |
|---|---|---|---|---|---|
| Do credit bureaus exist? | Yes | Yes | Doing Business Tanzania | A.5.2 | |
| Are there legal/regulatory constraints to gaining access to credit information? | Yes | The Bank of Tanzania (Credit Reference Bureau) | A.5.2.1 |
B. Funding Sources for Mortgages and the Secondary Mortgage Market
| Variable | End of 2015 | End of 2014 | End of 2013 | Sources | Var ID |
|---|---|---|---|---|---|
| What are the main funding sources for mortgages? | B.1 | ||||
| Retail funding (deposits/other) | Not available | primary | primary | Country Editor | B.1.1 |
| Wholesale funding: loans from other banks or corporations | Not available | secondary | secondary | TMRC | B.1.2 |
| Funding through mortgage bonds | Non-applicable | B.1.3 | |||
| Funding through securitization of mortgages | Non-applicable | B.1.4 | |||
C. Housing Microfinance
| Variable | End of 2015 | End of 2014 | End of 2013 | Sources | Var ID |
|---|---|---|---|---|---|
| Are non-collateralized housing micro-finance loans offered? | Yes | No | World Bank Housing Finance Project | C.1 | |
| Types of lenders operating in the housing micro-finance (HMF) sector: | C.2 | ||||
| Commercial banks | Yes | Country Editor | C.2.1 | ||
| Level of NPLs (>90 days past due) in HMF | C.4 | ||||