A. Primary Housing Finance Market
A.1 Industry Structure and Performance
| Variable | End of 2015 | End of 2014 | End of 2013 | Sources | Var ID |
|---|---|---|---|---|---|
| Types of originating lenders/market share: | A.1.2 | ||||
| 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 2015 | End of 2014 | End of 2013 | Sources | Var ID |
|---|---|---|---|---|---|
| Total amount of home mortgage loans outstanding at the end of year in millions of USD: | 43,206.64 USD (millions) | A.2.1 | |||
| Total amount of home mortgage loans outstanding at the end of year as % of GDP (current) | 11.16% | Central Bank of UAE, WEO | A.2.1.1 | ||
| and as % of all credits outstanding | 13.37% | Central Bank of UAE, World Bank | A.2.1.2 |
A.3 Housing Finance Products
| Variable | End of 2015 | End of 2014 | End of 2013 | 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 | 80 | 80 | 80% | Central Bank of the UAE | A.3.8.1 |
| Typical LTV at origination | 75.00 | A.3.8.2 | |||
| Maximum term over which pmt is calculated? | 25 years | 25 years | 25 years | A.3.9 | |
| Mortgage pmt-to-income ratio | A.3.10 | ||||
A.4 Lending and Servicing Process
| Variable | End of 2015 | End of 2014 | End of 2013 | Sources | Var ID |
|---|---|---|---|---|---|
| Does the mortgage industry use standard principles/guidelines for underwriting? | Yes | Yes | Yes | Central Bank of the UAE | A.4.1 |
| Which institutions define underwriting rules? | A.4.2 | ||||
| Central Bank/Ministry of Finance | Yes | Yes | Yes | Central Bank of the UAE | A.4.2.1 |
| Secondary market facility | No | No | No | Central Bank of the UAE | A.4.2.2 |
| Major Lender | No | No | No | Central Bank of the UAE | A.4.2.3 |
A.5 Credit Risk Assessment
| Variable | End of 2015 | End of 2014 | End of 2013 | Sources | Var ID |
|---|---|---|---|---|---|
| Do credit bureaus exist? | Yes | Yes | No | Al Etihad Credit Bureau | A.5.2 |
| What percentage of mortgage originations use credit scoring? | Not available | Not available | Al Etihad Credit Bureau | A.5.1 |
B. Funding Sources for Mortgages and the Secondary Mortgage Market
| Variable | End of 2015 | End of 2014 | End of 2013 | Sources | Var ID |
|---|---|---|---|---|---|
| What are the main funding sources for mortgages? | B.1 | ||||
| Retail funding (deposits/other) | primary | primary | primary | B.1.1 | |
| Wholesale funding: loans from other banks or corporations | secondary | secondary | secondary | B.1.2 | |
C. Housing Microfinance
| Variable | End of 2015 | End of 2014 | End of 2013 | 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 | ||||