A. Primary Housing Finance Market
A.1 Industry Structure and Performance
| Variable | End of 2017 | End of 2016 | End of 2015 | Sources | Var ID |
|---|---|---|---|---|---|
| Types of originating lenders/market share: | A.1.2 | ||||
| Are there (quasi) public mortgage lenders: | Yes | Yes | Yes | Housing Development Board Singapore | A.1.4 |
| Non-depository financial institutions specialized in housing finance | Yes | Yes | Yes | Housing Development Board Singapore | A.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
| 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: | 168,845.88 USD (millions) | 150,275.25 USD (millions) | 151,998.37 USD (millions) | Monetary Authority of Singapore | A.2.1 |
| Total amount of home mortgage loans outstanding at the end of year as % of GDP (current) | 52.13% | 48.51% | 49.98% | Monetary Authority of Singapore and WEO | A.2.1.1 |
| and as % of all credits outstanding | 25.41% | 24.48% | 21.65% | Monetary Authority of Singapore | A.2.1.2 |
| Total amount of home mortgages made in calendar year in millions of USD | 32,880.59 USD (millions) | 24,360.22 USD (millions) | 23,067.27 USD (millions) | Monetary Authority of Singapore | A.2.3 |
| and as % of GDP (current) | 10.15% | 7.86% | 7.59% | Monetary Authority of Singapore and WEO | A.2.3.1 |
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 | ||||
| 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 LTV | 90 | 90 | 90 | MoneySense.gov | A.3.8.1 |
| Typical LTV at origination | 70 | 70 | 70 | MoneySense.gov.sg | A.3.8.2 |
| Maximum term over which pmt is calculated? | 35 years | 35 years | 35 years | Housing Development Board Singapore | A.3.9 |
| Mortgage pmt-to-income ratio | A.3.10 | ||||
| Maximum pmt-to-income ratio (HH income) | 30% | A.3.10.1 | |||
| Maximum pmt-to-income ratio (Individual income) | 30% | 30% | 30% | HDB Singapore | A.3.10.2 |
| Typical pmt-to-income ratio (HH income) | 25% | A.3.10.3 | |||
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 | Monetary Authority of Singapore | A.4.1 |
| Which institutions define underwriting rules? | A.4.2 | ||||
| Central Bank/Ministry of Finance | Yes | Yes | Yes | Monetary Authority of Singapore | A.4.2.1 |
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 | |
| Is mortgage default insurance available? | Yes | Yes | Yes | A.5.3 | |
| When did it begin operating? | 1981 | 1981 | 1981 | Financial Markets and Institutions in Singapore (Eleventh Edition) | A.5.3.1 |
| Are credit guarantee systems used? | Yes | Yes | Yes | Standard Chartered | A.5.4 |
| Is there public sponsored MI / guarantee? | Yes | Yes | Yes | Central Provident Fund Board | 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 | DBS Singapore | B.1.1 |
| Wholesale funding: loans from other banks or corporations | Non-applicable | B.1.2 | |||
| Funding through mortgage bonds | Non-applicable | B.1.3 | |||
| Funding through securitization of mortgages | Non-applicable | B.1.4 | |||
| Other | primary | primary | primary | HDB / DBS | B.1.5 |
C. Housing Microfinance
| Variable | End of 2017 | End of 2016 | End of 2015 | 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 | ||||