The Housing Finance System

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    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
    Universal/ commercial banks89.16% of total89.34% of total89.45% of totalA.1.2.1
    Non-depository financial institutions specialized in housing finance5.5% of total5.44% of total5.4% of totalA.1.2.3
    Others (e.g. insurance co, pension funds, labor tax funds)5.34% of total5.22% of total5.15% of totalA.1.2.5
    Are there (quasi) public mortgage lenders:YesYesYesA.1.4
    Non-depository financial institutions specialized in housing financeYesYesYesA.1.4.3
    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:3,040.3 USD (millions)3,076.2 USD (millions)3,098.4 USD (millions)A.2.1
    Total amount of home mortgage loans outstanding at the end of year as % of GDP (current)34.93%36.14%36.75%A.2.1.1
    and as % of all credits outstanding50.62%51.02%50.42%A.2.1.2
    Total amount of home mortgages made in calendar year in millions of USD302.3 USD (millions)197.5 USD (millions)236.3 USD (millions)A.2.3
    and as % of GDP (current) 3.47%2.32%2.8%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
    Maximum LTV95  A.3.8.1
    Typical LTV at origination808080A.3.8.2
    Maximum term over which pmt is calculated? 35 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? NoNoNoA.5.2
    Is mortgage default insurance available?Yes  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
    Wholesale funding: loans from other banks or corporationssecondarysecondarysecondaryB.1.2
    Other tertiarytertiarytertiaryB.1.5
    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
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    Notes: Insurance companies with mortgage lending arms "borrow" from their parent company, i.e. they use their own funds.
    Notes: Insurance companies with mortgage lending arms "borrow" from their parent company, i.e. they use their own funds.
    Notes: Insurance companies with mortgage lending arms "borrow" from their parent company, i.e. they use their own funds.
    Notes: Insurance companies with mortgage lending arms "borrow" from their parent company, i.e. they use their own funds.
    Notes: National percentage
    Notes: Requires that borrowers have mortgage indemnity insurance.
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    Notes: The Bahamas Mortgage Corporation is a vehicle for the Ministry of Housing, which is funded through the government (taxes, bond offerings, etc.).
    Notes: The Bahamas Mortgage Corporation is a vehicle for the Ministry of Housing, which is funded through the government (taxes, bond offerings, etc.).
    Notes: The Bahamas Mortgage Corporation is a vehicle for the Ministry of Housing, which is funded through the government (taxes, bond offerings, etc.).
    Notes: The Bahamas Mortgage Corporation is a vehicle for the Ministry of Housing, which is funded through the government (taxes, bond offerings, etc.).