A. Primary Housing Finance Market
A.1 Industry Structure and Performance
| Variable | End of 2015 | End of 2014 | End of 2013 | Sources | Var ID |
|---|---|---|---|---|---|
| Types of originating lenders/market share: | A.1.2 | ||||
| Identify the 3 largest loan originating lenders | National Bank of Greece, Piraeus Bank, Alpha Bank | National Bank of Greece, Piraeus Bank, Alpha Bank | National Bank of Greece, Eurobank, Alpha Bank | A.1.3 | |
| Level of Non-Performing Mortgage Loans (90 days or more past due): | A.1.6 | ||||
| as a % of # of loans | 36.65% | 33.78% | 31.9% | The World Bank | A.1.6.1 |
| 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: | 73,069.03 USD (millions) | 84,197.79 USD (millions) | 96,829.33 USD (millions) | A.2.1 | |
| Total amount of home mortgage loans outstanding at the end of year as % of GDP (current) | 37.41% | 43.19% | 40.95% | Bank of Greece and WEO | A.2.1.1 |
| and as % of all credits outstanding | 32.96% | 32.62% | 32.5% | A.2.1.2 | |
| Total amount of home mortgages made in calendar year in millions of USD | 762.22 USD (millions) | Bank of Greece | A.2.3 | ||
| and as % of GDP (current) | .39% | Bank of Greece and WEO | A.2.3.1 |
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 | ||||
| 10 year fixed rate mortgage | 6% | Piraeus and Alpha Bank | A.3.4.1 | ||
| 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 | 100 | 100 | Alpha Bank, Piraeus Bank and National Bank of Greece | A.3.8.1 | |
| Typical LTV at origination | 60 | 60 | 60 | Alpha Bank | A.3.8.2 |
| Maximum term over which pmt is calculated? | 40 years | 40 years | 40 years | Alpha Bank:
http://www.alpha.gr/page/default.asp?la=2, id=344 | A.3.9 |
| Mortgage pmt-to-income ratio | A.3.10 | ||||
| Maximum pmt-to-income ratio (Individual income) | 40% | EMF Factsheet 2008 | 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 | Yes | Yes | BlackRock: Page 18:
https://www.bankofgreece.gr/BogEkdoseis/Diagnostic_Assessment_of_Greek_Banks.pdf | A.4.1 |
| Which institutions define underwriting rules? | A.4.2 | ||||
A.5 Credit Risk Assessment
| Variable | End of 2015 | End of 2014 | End of 2013 | Sources | Var ID |
|---|---|---|---|---|---|
| Do credit bureaus exist? | Yes | Yes | A.5.2 | ||
| Is mortgage default insurance available? | No | No | Research | A.5.3 |
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) | primary | primary | primary | Bank of Greece | B.1.1 |
| Wholesale funding: loans from other banks or corporations | Non-applicable | B.1.2 | |||
| Funding through mortgage bonds | secondary | secondary | secondary | B.1.3 | |
| Funding through securitization of mortgages | tertiary | tertiary | tertiary | B.1.4 | |
C. Housing Microfinance
| Variable | End of 2015 | End of 2014 | End of 2013 | Sources | Var ID |
|---|---|---|---|---|---|
| Types of lenders operating in the housing micro-finance (HMF) sector: | C.2 | ||||
| Level of NPLs (>90 days past due) in HMF | C.4 | ||||