A. Primary Housing Finance Market
A.1 Industry Structure and Performance
| Variable | End of 2017 | End of 2016 | End of 2015 | Sources | Var ID |
|---|---|---|---|---|---|
| Number of firms originating and funding mortgage loans | 13 | 13 | 13 | Country Editor | A.1.1 |
| Types of originating lenders/market share: | A.1.2 | ||||
| Universal/ commercial banks | 94.79% of total | 95.73% of total | 96.25% of total | Country Editor | A.1.2.1 |
| Other depository institutions (savings and loans/mutual savings and credit institutions) | .74% of total | .56% of total | .51% of total | Country Editor | A.1.2.2 |
| Non-depository financial institutions specialized in housing finance | 4.47% of total | 3.71% of total | 3.24% of total | Country Editor | A.1.2.3 |
| General non-depository financial institutions | 0% of total | 0% of total | 0% of total | Country Editor | A.1.2.4 |
| Others (e.g. insurance co, pension funds, labor tax funds) | 0% of total | 0% of total | Country Editor | A.1.2.5 | |
| Identify the 3 largest loan originating lenders | Khan Bank, TDBank, Golomt Bank | Khan Bank, TDBank, Golomt Bank | Khan Bank, TDBank, Golomt Bank | 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) | No | No | No | 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 | No | No | No | 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 | 1.98% | 4.5% | 3.6% | Country Editor | A.1.5 |
| Level of Non-Performing Mortgage Loans (90 days or more past due): | A.1.6 | ||||
| as a % of outstanding loan amount | 1.8% | 1.35% | .6% | Country Editor | A.1.6.2 |
| Average 1997-2007 | A.1.7 | ||||
A.2 Size of Mortgage Finance Sector
| Variable | End of 2017 | End of 2016 | End of 2015 | Sources | Var ID |
|---|---|---|---|---|---|
| Total amount of home mortgage loans outstanding at the end of year in millions of USD: | 1,752.36 USD (millions) | 1,614.08 USD (millions) | 1,720.34 USD (millions) | Bank of Mongolia | A.2.1 |
| Total amount of home mortgage loans outstanding at the end of year as % of GDP (current) | 15.74% | 16.82% | 14.66% | Bank of Mongolia | A.2.1.1 |
| and as % of all credits outstanding | 31.51% | 32.35% | 29.35% | Bank of Mongolia | A.2.1.2 |
| Total # of home mortgage loans outstanding at the end of year | 93.1 thousand | 89.16 thousand | 77.11 thousand | Bank of Mongolia | A.2.2 |
| Total amount of home mortgages made in calendar year in millions of USD | 496.19 USD (millions) | 409.56 USD (millions) | 465.64 USD (millions) | Country Editor | A.2.3 |
| and as % of GDP (current) | 4.46% | 3.67% | 3.97% | Country Editor | A.2.3.1 |
| and as % of all credits originated in calender year | 8.52% | 7.76% | 9.79% | Country Editor | A.2.3.2 |
| Total # of home mortgage originations made in calendar year | 10.5 thousand | 14.76 thousand | 15.97 thousand | Country Editor | A.2.4 |
A.3 Housing Finance Products
| Variable | End of 2017 | End of 2016 | End of 2015 | Sources | Var ID |
|---|---|---|---|---|---|
| Mortgage products as % of all mortgages (approx.) in local currency: | A.3.1 | ||||
| Fixed rate for life of loan | Not available | A.3.1.1 | |||
| Variable rate/indexed | Not available | A.3.1.2 | |||
| Variable rate/discretionary | Not available | A.3.1.3 | |||
| Loans based on foreign currency as % of all mortgage products | 7.96% | A.3.2 | |||
| Most prevalent type of foreign currency mortgage used: | A.3.3 | ||||
| Fixed rate for life of loan | 8.38% | A.3.3.1 | |||
| Variable rate/indexed | 59.31% | A.3.3.2 | |||
| Variable rate/discretionary | 32.31% | A.3.3.3 | |||
| Most frequent interest rates on fully amortizing: | A.3.4 | ||||
| Typical lender fees associated with mortgage origination: | A.3.6 | ||||
| Fixed in amount | 11.15 USD | A.3.6.1 | |||
| as % of loan amount | 1% | 1% | 1% | Country Editor | 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 | 70% | 70% | 70% | Country Editor | A.3.8.1 |
| Typical LTV at origination | 56 | Country Editor | A.3.8.2 | ||
| Maximum term over which pmt is calculated? | 30 years | 30 years | 20 years | Country Editor | A.3.9 |
| Mortgage pmt-to-income ratio | A.3.10 | ||||
| Maximum pmt-to-income ratio (HH income) | 45% | 45% | 45% | Country Editor | A.3.10.1 |
| Maximum pmt-to-income ratio (Individual income) | 45% | 45% | 45% | Country Editor | A.3.10.2 |
| Typical pmt-to-income ratio (HH income) | 45% | 45% | 45% | Country Editor | A.3.10.3 |
| Typical pmt-to-income ratio (Individual income) | 45% | 45% | 45% | Country Editor | A.3.10.4 |
A.4 Lending and Servicing Process
| Variable | End of 2017 | End of 2016 | End of 2015 | 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 | Yes | Yes | Yes | Country Editor | A.4.2.2 |
| Major Lender | Yes | Yes | Yes | 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 2017 | End of 2016 | End of 2015 | Sources | Var ID |
|---|---|---|---|---|---|
| Do credit bureaus exist? | Yes | Yes | Yes | A.5.2 | |
| Are there legal/regulatory constraints to gaining access to credit information? | Yes | Yes | Yes | Country Editor | A.5.2.1 |
| 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 2017 | End of 2016 | End of 2015 | Sources | Var ID |
|---|---|---|---|---|---|
| What are the main funding sources for mortgages? | B.1 | ||||
| Retail funding (deposits/other) | secondary | secondary | secondary | Country Editor | B.1.1 |
| Wholesale funding: loans from other banks or corporations | tertiary | tertiary | tertiary | Country Editor | B.1.2 |
| Funding through mortgage bonds | quaternary | quaternary | quaternary | Country Editor | B.1.3 |
| Funding through securitization of mortgages | primary | primary | primary | Country Editor | B.1.4 |
| Other | quinary | quinary | quinary | Country Editor | B.1.5 |
| What % of Residential Mortgage Backed Securities is issued by centralized conduit or liquidity facility? | 100% | 100% | 100% | Country Editor | B.2 |
| Who are the investors in RMBS? | Banks | Banks | Banks | Country Editor | B.3 |
| What is the proportion of RMBS in the overall private securities market? | .92% | Country Editor | B.4 | ||
C. Housing Microfinance
| Variable | End of 2017 | End of 2016 | End of 2015 | Sources | Var ID |
|---|---|---|---|---|---|
| Are non-collateralized housing micro-finance loans offered? | Yes | Yes | Yes | 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 | Yes | Yes | Yes | Country Editor | C.2.2 |
| NGOs | Yes | Yes | Yes | Country Editor | C.2.3 |
| Others | Yes | MMC Staff | C.2.4 | ||
| Level of NPLs (>90 days past due) in HMF | C.4 | ||||