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 | Not available | Not available | Not available | A.1.1 | |
| Types of originating lenders/market share: | A.1.2 | ||||
| Universal/ commercial banks | 25% of total | 25% of total | 25% of total | Hypostat | A.1.2.1 |
| Other depository institutions (savings and loans/mutual savings and credit institutions) | Not available | Not available | Not available | A.1.2.2 | |
| Non-depository financial institutions specialized in housing finance | 75% of total | 75% of total | 75% of total | Hypostat | A.1.2.3 |
| Identify the 3 largest loan originating lenders | Swedbank (Swedbank Hypotek), Handelsbanken (Stadshypotek), Nordea (Nordea Hypotek) | Swedbank (Swedbank Hypotek), Handelsbanken (Stadshypotek), Nordea (Nordea Hypotek) | Nordea Bank, Handelsbanken, SEB | A.1.3 | |
| Are there (quasi) public mortgage lenders: | No | No | No | Swedish Bankers Association | A.1.4 |
| Universal/ commercial banks | No | No | No | Swedish Bankers Association | A.1.4.1 |
| Other depository institutions (savings and loans/mutual savings and credit institutions) | Not available | Not available | Not available | A.1.4.2 | |
| Non-depository financial institutions specialized in housing finance | Not available | Not available | Not available | A.1.4.3 | |
| General non-depository financial institutions | Not available | Not available | Not available | A.1.4.4 | |
| Others (e.g. insurance co, pension funds, labor tax funds) | Not available | Not available | Not available | A.1.4.5 | |
| Typical lending spreads for mortgages | Not available | Not available | Not available | A.1.5 | |
| Level of Non-Performing Mortgage Loans (90 days or more past due): | A.1.6 | ||||
| as a % of outstanding loan amount | .49% | 1.12% | 1.07% | World Bank | A.1.6.2 |
| 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: | 447,957.84 USD (millions) | 464,059.45 USD (millions) | 389,861.18 USD (millions) | Statistics Sweden | A.2.1 |
| Total amount of home mortgage loans outstanding at the end of year as % of GDP (current) | 80.56% | 85.85% | 75.59% | WEO, Statistics Sweden | A.2.1.1 |
| and as % of all credits outstanding | 42.77% | 43.61% | 47.8% | WEO, Statistics Sweden | A.2.1.2 |
| Total amount of home mortgages made in calendar year in millions of USD | 65,594.12 USD (millions) | 65,077.17 USD (millions) | 63,128.72 USD (millions) | Hypostat | A.2.3 |
| and as % of GDP (current) | 11.8% | 12.04% | 12.24% | WEO and Hypostat | A.2.3.1 |
| and as % of all credits originated in calender year | Not available | Not available | Not available | A.2.3.2 | |
| What % of total new mortgages is refinance? | Not available | Not available | Not available | A.2.5 |
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 | ||||
| Variable rate/discretionary | 73% | 73% | 74% | A.3.1.3 | |
| Non-fully amoritizing loans (e.g. Price level adjusted/Interest only) | 27% | 27% | 26% | A.3.1.5 | |
| Loans based on foreign currency as % of all mortgage products | Not available | Not available | Not available | A.3.2 | |
| Most prevalent type of foreign currency mortgage used: | A.3.3 | ||||
| Most frequent interest rates on fully amortizing: | A.3.4 | ||||
| 10 year fixed rate mortgage | Not available | Not available | Not available | A.3.4.1 | |
| discretionary ARM/10 year term | Not available | Not available | Not available | A.3.4.3 | |
| 5 year roll-over/10 year term | Not available | Not available | Not available | A.3.4.4 | |
| Most frequent rate on interest only 10 yr FRM | Not available | Not available | Not available | A.3.5 | |
| Typical lender fees associated with mortgage origination: | A.3.6 | ||||
| Typical third party fees associated with mortgage origination: | A.3.7 | ||||
| Title related fees | Not available | Not available | Not available | A.3.7.2 | |
| Legal fees | Not available | Not available | Not available | A.3.7.3 | |
| Loan-to-Value (LTV) on first mortgage: | A.3.8 | ||||
| Maximum LTV | 85% | 85% | 85% | Sverigues Riksbank | A.3.8.1 |
| Typical LTV at origination | 65 | 63% | 65% | Hypostat 2019 | A.3.8.2 |
| Maximum term over which pmt is calculated? | 105 years | 105 years | 105 years | Research | A.3.9 |
| Mortgage pmt-to-income ratio | A.3.10 | ||||
| Maximum pmt-to-income ratio (HH income) | Not available | Not available | Not available | A.3.10.1 | |
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 | Yes | Sweden FSA | A.4.1 |
| Which institutions define underwriting rules? | A.4.2 | ||||
| Central Bank/Ministry of Finance | No | No | No | Sweden FSA | A.4.2.1 |
| Secondary market facility | No | No | No | Sweden FSA | A.4.2.2 |
| Major Lender | No | No | No | Sweden FSA | A.4.2.3 |
| Other | Yes | Yes | Yes | Sweden FSA | A.4.2.4 |
| Are loan originations conducted by others than employees of lenders? | Not available | Not available | Not available | A.4.3 | |
| % of appraisals done by employees of lenders | Not available | Not available | Not available | A.4.4 | |
| Do third party servicing institutions exist? | Not available | Not available | Not available | A.4.5 | |
A.5 Credit Risk Assessment
| Variable | End of 2018 | End of 2017 | End of 2016 | Sources | Var ID |
|---|---|---|---|---|---|
| Do credit bureaus exist? | Yes | Yes | Yes | European Credit Research Institute | A.5.2 |
| Are there legal/regulatory constraints to gaining access to credit information? | Yes | Yes | Yes | Doing Business | A.5.2.1 |
| What percentage of mortgage originations use credit scoring? | Not available | Not available | Not available | A.5.1 | |
| Is mortgage default insurance available? | Yes | Yes | Yes | Bank of International Settlements | A.5.3 |
| Are credit guarantee systems used? | Yes | Yes | Yes | Riksgalden Swedish National Debt Office | A.5.4 |
| Is there public sponsored MI / guarantee? | No | No | No | Hypostat 2017 | 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) | secondary | secondary | secondary | Riksbank | B.1.1 |
| Funding through mortgage bonds | primary | primary | primary | Riksbank | B.1.3 |
C. Housing Microfinance
| Variable | End of 2018 | End of 2017 | End of 2016 | Sources | Var ID |
|---|---|---|---|---|---|
| Are non-collateralized housing micro-finance loans offered? | Non-applicable | Non-applicable | Non-applicable | C.1 | |
| Types of lenders operating in the housing micro-finance (HMF) sector: | C.2 | ||||
| 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) | Not available | Not available | Not available | C.5 | |