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 | 19 | 19 | Country Editor | A.1.1 | |
| Types of originating lenders/market share: | A.1.2 | ||||
| Identify the 3 largest loan originating lenders | Attijariwafa Bank, Banque Populaire, BMCE | 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 |
| 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 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: | 20,949.35 USD (millions) | 18,110.29 USD (millions) | Country Editor | A.2.1 | |
| Total amount of home mortgage loans outstanding at the end of year as % of GDP (current) | 19.19% | 17.56% | Country Editor | A.2.1.1 | |
| and as % of all credits outstanding | 16.35% | Central Bank Statistics and WDI (Net Domestic Credit) | A.2.1.2 | ||
| Total # of home mortgage originations made in calendar year | 71.03 thousand | Bank Al-Maghrib | A.2.4 |
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 | ||||
| Fixed rate for life of loan | 93% | 84% | Bank Al-Maghrib | A.3.1.1 | |
| Variable rate/indexed | 26% | Bank Al Maghrib | A.3.1.2 | ||
| Most prevalent type of foreign currency mortgage used: | A.3.3 | ||||
| Fixed rate for life of loan | 4.5% | Country Editor | A.3.3.1 | ||
| Variable rate/indexed | 4.2% | Country Editor | A.3.3.2 | ||
| 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 | ||||
| Maximum LTV | 100% | 125% | CIH Bank - largest mortgage lender in Morocco | A.3.8.1 | |
| Typical LTV at origination | 100% | 100% | CIH | A.3.8.2 | |
| Maximum term over which pmt is calculated? | 25 years | 25 years | CIH | A.3.9 | |
| Mortgage pmt-to-income ratio | A.3.10 | ||||
| Maximum pmt-to-income ratio (HH income) | 50% | 50% | Nourreska | A.3.10.1 | |
| Maximum pmt-to-income ratio (Individual income) | 50% | 50% | Nourreska | A.3.10.2 | |
| Typical pmt-to-income ratio (HH income) | 33% | Nourreska | A.3.10.3 | ||
| Typical pmt-to-income ratio (Individual income) | 33% | Nourreska | A.3.10.4 | ||
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 | Bank Al-Maghrib | A.4.1 | |
| Which institutions define underwriting rules? | A.4.2 | ||||
| Central Bank/Ministry of Finance | Yes | Country Editor | A.4.2.1 | ||
| Are loan originations conducted by others than employees of lenders? | Yes | USAID | A.4.3 | ||
A.5 Credit Risk Assessment
| Variable | End of 2018 | End of 2017 | End of 2016 | Sources | Var ID |
|---|---|---|---|---|---|
| Do credit bureaus exist? | Yes | Experian Credit Bureau | A.5.2 | ||
| Are there legal/regulatory constraints to gaining access to credit information? | Yes | Bank Al Maghrib | A.5.2.1 | ||
| Is mortgage default insurance available? | Yes | Yes | No | Country Editor | A.5.3 |
| Are credit guarantee systems used? | Yes | Yes | Yes | CCG | A.5.4 |
| Is there public sponsored MI / guarantee? | Yes | Affordable Housing Finance in Morocco - World Bank presentation | 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 | Financial Statements of CIH Bank | B.1.1 | ||
| Wholesale funding: loans from other banks or corporations | secondary | Financial Statements of CIH Bank | B.1.2 | ||
| Funding through mortgage bonds | Non-applicable | Country Editor | B.1.3 | ||
| Funding through securitization of mortgages | tertiary | Securitisation Law Reform: New Perspectives for Financing the Moroccan and Wider African Economy | B.1.4 | ||
C. Housing Microfinance
| Variable | End of 2018 | End of 2017 | End of 2016 | Sources | Var ID |
|---|---|---|---|---|---|
| Are non-collateralized housing micro-finance loans offered? | Yes | Yes | Country Editor | C.1 | |
| Types of lenders operating in the housing micro-finance (HMF) sector: | C.2 | ||||
| Commercial banks | No | No | CGAP | C.2.1 | |
| Specialized non-depository MFIs | Yes | Yes | CGAP | C.2.2 | |
| NGOs | Yes | Yes | CGAP | C.2.3 | |
| Others | No | No | CGAP | C.2.4 | |
| None | No | No | CGAP | 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) | Yes | La Nouvelle Tribune | C.5 | ||
| Lowest income decile served with all non-collateralized housing lending products | 1 decile | FBPMC | C.6 | ||