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Sub-Saharan Africa

The Housing Finance System

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A. Primary Housing Finance Market
B. Funding Sources for Mortgages and the Secondary Mortgage Market
C. Housing Microfinance

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
Universal/ commercial banks	99.78% of total	99.67% of total	99.68% of total	Bank of Mauritius, Mauritius Housing Company	A.1.2.1
Others (e.g. insurance co, pension funds, labor tax funds)	.22% of total	.33% of total	.32% of total	Bank of Mauritius, Mauritius Housing Company	A.1.2.5
Identify the 3 largest loan originating lenders	Mauritius Housing Company, Mauritius Commercial Bank and State Bank of Mauritius	Mauritius Housing Company, Mauritius Commercial Bank and State Bank of Mauritius	Mauritius Housing Company, Mauritius Commercial Bank and State Bank of Mauritius	Research	A.1.3
Are there (quasi) public mortgage lenders:	Yes	Yes	Yes	Mauritius Housing Company	A.1.4
Universal/ commercial banks	Yes	Yes	Yes	Mauritius Housing Company	A.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

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:	1,816.47 USD (millions)	1,886.75 USD (millions)	1,827.2 USD (millions)	Bank of Mauritius, MHC, FSC	A.2.1
Total amount of home mortgage loans outstanding at the end of year as % of GDP (current)	15.65%	14.94%	15.31%	Bank of Mauritius, MHC, FSC, WEO	A.2.1.1
and as % of all credits outstanding	22.78%	21.8%	20.26%	Bank of Mauritius, MHC, FSC, WEO	A.2.1.2

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
Fixed in amount	30 USD	35 USD	35 USD	Mauritius Housing Company	A.3.6.1
as % of loan amount	1.5%	1.5%	1.5%	Mauritius Housing Company	A.3.6.2
Typical third party fees associated with mortgage origination:					A.3.7
Loan-to-Value (LTV) on first mortgage:					A.3.8
Maximum LTV	90	90	90	Mauritius Housing Company	A.3.8.1
Typical LTV at origination	80	80	80	CAHF	A.3.8.2
Maximum term over which pmt is calculated?	35 years	35 years	35 years	Mauritius Housing Company	A.3.9
Mortgage pmt-to-income ratio					A.3.10
Maximum pmt-to-income ratio (Individual income)	50%	50%	50%	Mauritius Housing Company	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	CAHF	A.4.1
Which institutions define underwriting rules?					A.4.2
Central Bank/Ministry of Finance	Yes	Yes	Yes	CAHF	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	Yes	Bank of Mauritius	A.5.2
Are there legal/regulatory constraints to gaining access to credit information?	No	No	No	Bank of Mauritius	A.5.2.1
Is mortgage default insurance available?	Yes	Yes		Mauritius Housing Company	A.5.3
What is the typical MI product?	A premium of 0.06% is applied on the excess of the loan amount over 75% of the home value.	A premium of 0.06% is applied on the excess of the loan amount over 75% of the home value.		Mauritius Housing Company	A.5.3.2

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 Mauritius	B.1.1
Wholesale funding: loans from other banks or corporations	secondary	secondary	secondary	Financial Services Commission Mauritius	B.1.2

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

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