HOFINET | Housing Finance Information Network

The Housing Finance System

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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		12	13	Country Editor	A.1.1
Types of originating lenders/market share:					A.1.2
Universal/ commercial banks		95% of total	95% of total	Country Editor	A.1.2.1
Other depository institutions (savings and loans/mutual savings and credit institutions)		0% of total	0% of total	Country Editor	A.1.2.2
Non-depository financial institutions specialized in housing finance		5% of total	5% of total	Country Editor	A.1.2.3
General non-depository financial institutions		0% of total	0% of total	Country Editor	A.1.2.4
Others (e.g. insurance co, pension funds, labor tax funds)	1% of total	1% of total	1% of total	Country Editor	A.1.2.5
Identify the 3 largest loan originating lenders	Crédit Agricole, Crédit Mutuel, Caisse d'épargne	Crédit Agricole, Crédit Mutuel, Caisse d'épargne	Crédit Agricole, Crédit Mutuel, Caisse d'épargne	Country Editor	A.1.3
Are there (quasi) public mortgage lenders:	Yes	Yes	Yes	Country Editor	A.1.4
Universal/ commercial banks	No	No	No	Country Editor	A.1.4.1
Other depository institutions (savings and loans/mutual savings and credit institutions)	No	No	No	Country Editor	A.1.4.2
Non-depository financial institutions specialized in housing finance	No	No	No	Country Editor	A.1.4.3
General non-depository financial institutions	No	No	No	Country Editor	A.1.4.4
Others (e.g. insurance co, pension funds, labor tax funds)	Yes	Yes	Yes	Country Editor	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 # of loans	Not available	Not available	Not available		A.1.6.1
as a % of outstanding loan amount	1.4%	1.5%	1.54%	Banque de France (ACPR)	A.1.6.2
Average 1997-2007					A.1.7
Lowest decile of the income distribution served by the dominant mortgage lenders	Not available	Not available	Not available		A.1.8

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:	1,287,180 USD (millions)	1,149,670 USD (millions)	946,693 USD (millions)	Banque de France	A.2.1
Total amount of home mortgage loans outstanding at the end of year as % of GDP (current)	46.3%	44.5%	38.38%	WEO, Banque de France	A.2.1.1
and as % of all credits outstanding			36.65%	WDI (Net Domestic Credit)	A.2.1.2
Total amount of home mortgages made in calendar year in millions of USD	239,176 USD (millions)	306,966 USD (millions)	279,333 USD (millions)	Banque de France	A.2.3
and as % of GDP (current)	8.6%	11.88%	11.33%	WEO, Banque de France	A.2.3.1
and as % of all credits originated in calender year	Not available	Not available	Not available		A.2.3.2

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
Fixed rate for life of loan	98%	98%	98%	Banque de France	A.3.1.1
Variable rate/indexed	1%	1%	1%	Banque de France	A.3.1.2
Other fully amortizing loans (e.g. Rollover)	1%	1%	1%	Banque de France	A.3.1.4
Non-fully amoritizing loans (e.g. Price level adjusted/Interest only)	Not available	Not available	Not available		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	1.58%	1.61%	1.5%	Banque de France	A.3.4.1
most common indexed ARM/10 year term	Not available	Not available	Not available		A.3.4.2
Typical lender fees associated with mortgage origination:					A.3.6
Fixed in amount	Not available	Not available	Not available		A.3.6.1
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	Banque de France	A.3.8.1
Typical LTV at origination	87.30	87.00	86	Banque de France	A.3.8.2
Mortgage pmt-to-income ratio					A.3.10
Typical pmt-to-income ratio (HH income)	30.1%	29.7%	29.5%	Banque de France	A.3.10.3

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?	No	No	No	Country Editor	A.4.1
Which institutions define underwriting rules?					A.4.2
Are loan originations conducted by others than employees of lenders?	Not available	Yes	Yes	Country Editor	A.4.3
% of Originations done by brokers	Not available	30%	Not available	Country Editor	A.4.3.1
% of Originations done on the internet	Not available	Not available	Not available		A.4.3.2
Do third party servicing institutions exist?	No	No	No	Country Editor	A.4.5
% of loans serviced by originators/lenders	100%	100%	100%	Country Editor	A.4.6

A.5 Credit Risk Assessment

Variable	End of 2018	End of 2017	End of 2016	Sources	Var ID
Do credit bureaus exist?	No	No	No	Country Editor	A.5.2
Are there legal/regulatory constraints to gaining access to credit information?	Yes	Yes	Yes	Country Editor	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	Country Editor	A.5.3
When did it begin operating?	1993	1993	1993	Bank for International Settlements	A.5.3.1
Are credit guarantee systems used?	Yes	Yes	Yes	Country Editor	A.5.4
Is there public sponsored MI / guarantee?	Yes	Yes	Yes	Country Editor	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)	Primary	Primary	Primary	Country Editor	B.1.1
Wholesale funding: loans from other banks or corporations	Tertiary	Tertiary	Tertiary	Country Editor	B.1.2
Funding through mortgage bonds	Secondary	Secondary	Secondary	Country Editor	B.1.3
Funding through securitization of mortgages	Tertiary	Tertiary	Tertiary	Research	B.1.4

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	Research	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
as a % of outstanding loan amount	1.3%	1.4%	1.5%	Country Editor	C.4.2
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