The Housing Finance System

    Text bolded/green below shows notes and variable definitions when you roll over. If you cannot see the notes, please download an Excel version from the Research Center, which includes notes. Also, a PDF featuring variable definitions is available in the document list under "Definition of Hofinet Variables".

     

    A. Primary Housing Finance Market

    A.1 Industry Structure and Performance
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Types of originating lenders/market share:A.1.2
    Are there (quasi) public mortgage lenders:YesYesYesA.1.4
    Universal/ commercial banksYesYesYesA.1.4.1
    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
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Total amount of home mortgage loans outstanding at the end of year in millions of USD:1,120.55 USD (millions)1,199.57 USD (millions)1,224.86 USD (millions)A.2.1
    Total amount of home mortgage loans outstanding at the end of year as % of GDP (current)1.75%2.04%2.27%A.2.1.1
    Total amount of home mortgages made in calendar year in millions of USD279.24 USD (millions)201.03 USD (millions)277.57 USD (millions)A.2.3
    and as % of GDP (current) .44%.34%.52%A.2.3.1
    A.3 Housing Finance Products
    VariableEnd of 2015End of 2014End of 2013SourcesVar 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
    Typical LTV at origination80  
    Various commercial banks
    		A.3.8.2
    Maximum term over which pmt is calculated? 25 years  A.3.9
    Mortgage pmt-to-income ratio A.3.10
    A.4 Lending and Servicing Process
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Which institutions define underwriting rules? A.4.2
    A.5 Credit Risk Assessment
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Do credit bureaus exist? YesYesYesA.5.2
    Are there legal/regulatory constraints to gaining access to credit information?NoNoNoA.5.2.1
    Is mortgage default insurance available?YesYesYes
    Various commercial banks
    		A.5.3
    B. Funding Sources for Mortgages and the Secondary Mortgage Market
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    What are the main funding sources for mortgages?B.1
    Retail funding (deposits/other)primaryprimaryprimaryB.1.1
    Funding through mortgage bonds secondarysecondarysecondaryB.1.3
    Funding through securitization of mortgagestertiarytertiarytertiaryB.1.4
    Who are the investors in RMBS?Mercury Mortgage Finance-Guatemala will use the $100 million of dedicated financing by OPIC to issue mortgages to Guatemalans. Mercury also periodically securitizes these mortgage loans by issuing RMBS. The FHA, a state sponsored entity, also invests in mortgage securities by buying them from mortgage lenders to facilitate lending on behalf of the state.Mercury Mortgage Finance-Guatemala will use the $100 million of dedicated financing by OPIC to issue mortgages to Guatemalans. Mercury also periodically securitizes these mortgage loans by issuing RMBS. The FHA, a state sponsored entity, also invests in mortgage securities by buying them from mortgage lenders to facilitate lending on behalf of the state.Mercury Mortgage Finance-Guatemala will use the $100 million of dedicated financing by OPIC to issue mortgages to Guatemalans. Mercury also periodically securitizes these mortgage loans by issuing RMBS. The FHA, a state sponsored entity, also invests in mortgage securities by buying them from mortgage lenders to facilitate lending on behalf of the state.B.3
    C. Housing Microfinance
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Types of lenders operating in the housing micro-finance (HMF) sector:C.2
    Level of NPLs (>90 days past due) in HMFC.4
    back to top | Country Data:
    Notes: OPIC in 2011 dedicated $100 million in financing for typically neglected segments of the Guatemalan population (low-middle income families). Much of these new loans will be packaged into mortgage-backed securities according to the OPIC report. The FHA, a state sponsored entity, also securitizes mortgages that it buys from mortgage lenders.
    Notes: OPIC in 2011 dedicated $100 million in financing for typically neglected segments of the Guatemalan population (low-middle income families). Much of these new loans will be packaged into mortgage-backed securities according to the OPIC report. The FHA, a state sponsored entity, also securitizes mortgages that it buys from mortgage lenders.
    Notes: OPIC in 2011 dedicated $100 million in financing for typically neglected segments of the Guatemalan population (low-middle income families). Much of these new loans will be packaged into mortgage-backed securities according to the OPIC report. The FHA, a state sponsored entity, also securitizes mortgages that it buys from mortgage lenders.
    Notes: OPIC in 2011 dedicated $100 million in financing for typically neglected segments of the Guatemalan population (low-middle income families). Much of these new loans will be packaged into mortgage-backed securities according to the OPIC report. The FHA, a state sponsored entity, also securitizes mortgages that it buys from mortgage lenders.
    Notes: OPIC in 2011 dedicated $100 million in financing for typically neglected segments of the Guatemalan population (low-middle income families). Much of these new loans will be packaged into mortgage-backed securities according to the OPIC report. The FHA, a state sponsored entity, also securitizes mortgages that it buys from mortgage lenders.
    Notes: The CHN is backed by the government and focuses on mortgage lending but also has a wide range of banking services--like taking deposits and offering multiple different forms of credit to citizens.
    Notes: The CHN is backed by the government and focuses on mortgage lending but also has a wide range of banking services--like taking deposits and offering multiple different forms of credit to citizens.
    Notes: The CHN is backed by the government and focuses on mortgage lending but also has a wide range of banking services--like taking deposits and offering multiple different forms of credit to citizens.
    Notes: The CHN is backed by the government and focuses on mortgage lending but also has a wide range of banking services--like taking deposits and offering multiple different forms of credit to citizens.
    Notes: The CHN is backed by the government and focuses on mortgage lending but also has a wide range of banking services--like taking deposits and offering multiple different forms of credit to citizens.
    Notes: The CHN is backed by the government and focuses on mortgage lending but also has a wide range of banking services--like taking deposits and offering multiple different forms of credit to citizens.
    Notes: The CHN is backed by the government and focuses on mortgage lending but also has a wide range of banking services--like taking deposits and offering multiple different forms of credit to citizens.
    Notes: The CHN is backed by the government and focuses on mortgage lending but also has a wide range of banking services--like taking deposits and offering multiple different forms of credit to citizens.
    Notes: The CHN is backed by the government and focuses on mortgage lending but also has a wide range of banking services--like taking deposits and offering multiple different forms of credit to citizens.
    Notes: The CHN is backed by the government and focuses on mortgage lending but also has a wide range of banking services--like taking deposits and offering multiple different forms of credit to citizens.
    Notes: The CHN is backed by the government and focuses on mortgage lending but also has a wide range of banking services--like taking deposits and offering multiple different forms of credit to citizens.
    Notes: The CHN is backed by the government and focuses on mortgage lending but also has a wide range of banking services--like taking deposits and offering multiple different forms of credit to citizens.
    Notes: The CHN is backed by the government and focuses on mortgage lending but also has a wide range of banking services--like taking deposits and offering multiple different forms of credit to citizens.
    Notes: The CHN is backed by the government and focuses on mortgage lending but also has a wide range of banking services--like taking deposits and offering multiple different forms of credit to citizens.
    Notes: The CHN is backed by the government and focuses on mortgage lending but also has a wide range of banking services--like taking deposits and offering multiple different forms of credit to citizens.
    Notes: The CHN is backed by the government and focuses on mortgage lending but also has a wide range of banking services--like taking deposits and offering multiple different forms of credit to citizens.