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Europe and Central Asia

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 2017	End of 2016	End of 2015	Sources	Var ID
Types of originating lenders/market share:					A.1.2
Universal/ commercial banks	47% of total	47% of total	47% of total	Hypostat 2018	A.1.2.1
Other depository institutions (savings and loans/mutual savings and credit institutions)	42% of total	42% of total	42% of total	Hypostat	A.1.2.2
Non-depository financial institutions specialized in housing finance	11% of total	11% of total	11% of total	Hypostat	A.1.2.3
Identify the 3 largest loan originating lenders	Slovenská sporitelna, Všeobecná úv erov á banka, Tatra banka	Slovenská sporitelna, Všeobecná úv erov á banka, Tatra banka	Slovenská sporitelna, Všeobecná úv erov á banka, Tatra banka	National Bank of Slovakia	A.1.3
Are there (quasi) public mortgage lenders:	Yes	Yes	Yes	Research	A.1.4
Non-depository financial institutions specialized in housing finance	Yes	Yes	Yes	State Housing Development Fund	A.1.4.3
Level of Non-Performing Mortgage Loans (90 days or more past due):					A.1.6
as a % of # of loans	Not available	3.7%	3.9%	National Bank of Slovakia	A.1.6.1
as a % of outstanding loan amount	Not available	Not available	9.7%		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:	28,700 USD (millions)	21,924.19 USD (millions)	18,506.55 USD (millions)	National Bank of Slovakia	A.2.1
Total amount of home mortgage loans outstanding at the end of year as % of GDP (current)	29.92%	24.49%	21.2%	National Bank of Slovakia and WEO	A.2.1.1
and as % of all credits outstanding	45.58%	43.01%	40.95%	National Bank of Slovakia	A.2.1.2
Total amount of home mortgages made in calendar year in millions of USD	7,148.31 USD (millions)	6,696.84 USD (millions)	7,068.89 USD (millions)	Hypostat 2018	A.2.3
and as % of GDP (current)	7.45%	7.48%	8.1%	Hypostat	A.2.3.1
What % of total new mortgages is refinance?	5%			Hypostat	A.2.5

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	85	100	100	Hypostat	A.3.8.1
Typical LTV at origination	70	70	70	HypoStat	A.3.8.2
Maximum term over which pmt is calculated?	30 years	30 years	30 years	HypoStat	A.3.9
Mortgage pmt-to-income ratio					A.3.10

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	IMF	A.4.1
Which institutions define underwriting rules?					A.4.2
Central Bank/Ministry of Finance	Yes	Yes	Yes	IMF	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	Slovak Credit Bureau	A.5.2

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)	primary	primary	primary	Research	B.1.1
Funding through mortgage bonds	secondary	secondary	secondary	Research	B.1.3

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

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