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 | 14 | 13 | 13 | BCE | A.1.1 |
| Types of originating lenders/market share: | A.1.2 | ||||
| Universal/ commercial banks | 97.68% of total | 85.43% of total | BCE | A.1.2.1 | |
| Other depository institutions (savings and loans/mutual savings and credit institutions) | 12.12% of total | BCE | A.1.2.2 | ||
| Non-depository financial institutions specialized in housing finance | 2.32% of total | 2.42% of total | BCE | A.1.2.3 | |
| General non-depository financial institutions | .02% of total | BCE | A.1.2.4 | ||
| Others (e.g. insurance co, pension funds, labor tax funds) | 0% of total | A.1.2.5 | |||
| Identify the 3 largest loan originating lenders | Pichincha, Pacifico, Guayaquil, Produbanco | Pichincha, Pacifico, Guayaquil, Produbanco | Pichincha, Pacifico, Guayaquil, Produbanco | BCE | A.1.3 |
| Are there (quasi) public mortgage lenders: | Yes | Yes | Yes | A.1.4 | |
| Non-depository financial institutions specialized in housing finance | Yes | Yes | Yes | A.1.4.3 | |
| Level of Non-Performing Mortgage Loans (90 days or more past due): | A.1.6 | ||||
| as a % of outstanding loan amount | 1.03% | .73% | 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: | 2,583.97 USD (millions) | BCE | A.2.1 | ||
| Total amount of home mortgage loans outstanding at the end of year as % of GDP (current) | 2.39% | 2.59% | BCE | A.2.1.1 | |
| and as % of all credits outstanding | 8.36% | 8.97% | BCE | A.2.1.2 | |
| Total # of home mortgage loans outstanding at the end of year | 40,679 thousand | Banco Central del Ecuador | A.2.2 |
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 | ||||
| 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 | 100 | 100 | 100 | A.3.8.1 | |
| Typical LTV at origination | 60 | 60 | 60 | Various commercial banks | A.3.8.2 |
| Maximum term over which pmt is calculated? | 25 years | 25 years | 25 years | Various commercial banks | A.3.9 |
| Mortgage pmt-to-income ratio | A.3.10 | ||||
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 | SBE | A.4.1 |
| Which institutions define underwriting rules? | A.4.2 | ||||
| Other | Yes | Yes | Yes | SBE | A.4.2.4 |
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 | A.5.2 | |
| Are there legal/regulatory constraints to gaining access to credit information? | No | No | No | A.5.2.1 |
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) | primary | primary | primary | BCE | B.1.1 |
| Other | secondary | secondary | secondary | B.1.5 | |
C. Housing Microfinance
| Variable | End of 2018 | End of 2017 | End of 2016 | Sources | Var ID |
|---|---|---|---|---|---|
| Are non-collateralized housing micro-finance loans offered? | Yes | Yes | Yes | C.1 | |
| Types of lenders operating in the housing micro-finance (HMF) sector: | C.2 | ||||
| Commercial banks | Yes | Yes | Yes | C.2.1 | |
| NGOs | Yes | Yes | Yes | C.2.3 | |
| Level of NPLs (>90 days past due) in HMF | C.4 | ||||