A. Primary Housing Finance Market
A.1 Industry Structure and Performance
| Variable | End of 2018 | End of 2017 | End of 2016 | 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 | 96% of total | 96% of total | 96% of total | Country Editor | A.1.2.1 |
| Non-depository financial institutions specialized in housing finance | 4% of total | 4% of total | 4% of total | Country Editor | A.1.2.3 |
| Identify the 3 largest loan originating lenders | SMC | SMC | SMC | Country Editor | A.1.3 |
| Are there (quasi) public mortgage lenders: | Yes | Yes | Yes | Country Editor | A.1.4 |
| Universal/ commercial banks | Yes | Yes | Yes | Country Editor | A.1.4.1 |
| Other depository institutions (savings and loans/mutual savings and credit institutions) | Yes | Yes | Yes | Country Editor | A.1.4.2 |
| Non-depository financial institutions specialized in housing finance | Yes | Yes | Yes | Country Editor | A.1.4.3 |
| General non-depository financial institutions | Yes | Yes | Yes | Country Editor | A.1.4.4 |
| Others (e.g. insurance co, pension funds, labor tax funds) | Yes | Yes | Yes | Country Editor | A.1.4.5 |
| Typical lending spreads for mortgages | 5% | 5% | 5% | Country Editor | A.1.5 |
| Level of Non-Performing Mortgage Loans (90 days or more past due): | A.1.6 | ||||
| as a % of # of loans | 0% | 0% | 0% | Country Editor | A.1.6.1 |
| as a % of outstanding loan amount | .01% | .01% | .02% | Financial Sector Stability Report - National Bank of the Kyrgyz Republic | A.1.6.2 |
| Average 1997-2007 | A.1.7 | ||||
| as a % of # of loans | 0% | 0% | 0% | Country Editor | A.1.7.1 |
| as a % of outstanding loan amount | 0% | 0% | 0% | Country Editor | A.1.7.2 |
A.2 Size of Mortgage Finance Sector
| Variable | End of 2018 | End of 2017 | End of 2016 | Sources | Var ID |
|---|---|---|---|---|---|
| Total amount of home mortgage loans outstanding at the end of year in millions of USD: | 175.85 USD (millions) | 151.18 USD (millions) | 121.41 USD (millions) | National Bank of the Kyrgyz Republic | A.2.1 |
| Total amount of home mortgage loans outstanding at the end of year as % of GDP (current) | 2.19% | 2% | 1.78% | National Bank of the Kyrgyz Republic | A.2.1.1 |
| and as % of all credits outstanding | 9.61% | 9.61% | 8.99% | National Bank of the Kyrgyz Republic | A.2.1.2 |
| Total amount of home mortgages made in calendar year in millions of USD | 78.97 USD (millions) | 86.07 USD (millions) | 42.99 USD (millions) | Country Editor | A.2.3 |
| and as % of GDP (current) | .99% | 1.14% | .63% | National Bank of the Kyrgyz Republic | A.2.3.1 |
| and as % of all credits originated in calender year | 4.78% | 5.59% | 3.13% | National Bank of the Kyrgyz Republic | A.2.3.2 |
A.3 Housing Finance Products
| Variable | End of 2018 | End of 2017 | End of 2016 | 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 | ||||
| most common indexed ARM/10 year term | 17% | 18% | 18% | Country Editor | A.3.4.2 |
| foreign currency based 10 year FRM | 13% | 12% | 15% | Country Editor | A.3.4.5 |
| Typical lender fees associated with mortgage origination: | A.3.6 | ||||
| as % of loan amount | 1.5% | 1.5% | 1.5% | Country Editor | A.3.6.2 |
| Typical third party fees associated with mortgage origination: | A.3.7 | ||||
| Appraisal fees | 7.15 USD | Country Editor | A.3.7.1 | ||
| Legal fees | 21.79 USD | 21.78 USD | 21.45 USD | Country Editor | A.3.7.3 |
| Loan-to-Value (LTV) on first mortgage: | A.3.8 | ||||
| Maximum LTV | 60 | 60 | 60 | Kyrgyz Investment and Credit Bank | A.3.8.1 |
| Typical LTV at origination | 50%-60% | A.3.8.2 | |||
| Maximum term over which pmt is calculated? | 10 years | 10 years | 10 years | Kyrgyz Investment and Credit Bank | A.3.9 |
| Mortgage pmt-to-income ratio | A.3.10 | ||||
| Maximum pmt-to-income ratio (HH income) | 35% | 35% | 35% | Country Editor | A.3.10.1 |
| Typical pmt-to-income ratio (HH income) | 40% | 40% | 40% | Country Editor | A.3.10.3 |
A.4 Lending and Servicing Process
| Variable | End of 2018 | End of 2017 | End of 2016 | 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 | Yes | Yes | Yes | 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 | No | No | No | Country Editor | A.4.2.4 |
| Are loan originations conducted by others than employees of lenders? | No | No | No | Country Editor | A.4.3 |
| % of Originations done by brokers | 0% | 0% | 0% | Country Editor | A.4.3.1 |
| % of Originations done on the internet | 0% | 0% | 0% | Country Editor | A.4.3.2 |
| Others (Specify in Notes) | 0% | 0% | 0% | Country Editor | A.4.3.3 |
| % of appraisals done by employees of lenders | 100% | 100% | 100% | Country Editor | A.4.4 |
| Do third party servicing institutions exist? | No | No | No | Country Editor | A.4.5 |
| % of loans serviced by originators/lenders | 100% | 100% | 100% | Country Editor | A.4.6 |
A.5 Credit Risk Assessment
| Variable | End of 2018 | End of 2017 | End of 2016 | Sources | Var ID |
|---|---|---|---|---|---|
| Do credit bureaus exist? | Yes | Yes | Yes | Country Editor | A.5.2 |
| Are there legal/regulatory constraints to gaining access to credit information? | Yes | Yes | Yes | Country Editor | A.5.2.1 |
| Is mortgage default insurance available? | No | No | No | Country Editor | A.5.3 |
| Are credit guarantee systems used? | Yes | Yes | Yes | Country Editor | A.5.4 |
| Is there public sponsored MI / guarantee? | No | No | No | Country Editor | A.5.5 |
B. Funding Sources for Mortgages and the Secondary Mortgage Market
| Variable | End of 2018 | End of 2017 | End of 2016 | Sources | Var ID |
|---|---|---|---|---|---|
| What are the main funding sources for mortgages? | B.1 | ||||
| Retail funding (deposits/other) | primary | primary | primary | UNECE | B.1.1 |
| What % of Residential Mortgage Backed Securities is issued by centralized conduit or liquidity facility? | 100% | Country Editor | B.2 | ||
| Who are the investors in RMBS? | Pension funds, insurance cos, banks | Country Editor | B.3 | ||
| What is the proportion of RMBS in the overall private securities market? | 0% | Country Editor | B.4 | ||
C. Housing Microfinance
| Variable | End of 2018 | End of 2017 | End of 2016 | Sources | Var ID |
|---|---|---|---|---|---|
| Are non-collateralized housing micro-finance loans offered? | No | No | No | Country Editor | C.1 |
| Types of lenders operating in the housing micro-finance (HMF) sector: | C.2 | ||||
| Commercial banks | Yes | Yes | Yes | Country Editor | C.2.1 |
| Specialized non-depository MFIs | No | No | No | Country Editor | C.2.2 |
| NGOs | Yes | Yes | No | Country Editor | C.2.3 |
| Others | Yes | Yes | Yes | Country Editor | C.2.4 |
| None | No | No | No | Country Editor | C.2.5 |
| Level of NPLs (>90 days past due) in HMF | C.4 | ||||
| Are non-collateralized but secured housing finance products offered (e.g. secured by pension or insurance savings) | No | No | No | Country Editor | C.5 |