A. Primary Housing Finance Market
A.1 Industry Structure and Performance
| Variable | End of 2015 | End of 2014 | End of 2013 | Sources | Var ID |
|---|---|---|---|---|---|
| Number of firms originating and funding mortgage loans | 33 | 29 | 28 | Country Editor | A.1.1 |
| Types of originating lenders/market share: | A.1.2 | ||||
| Universal/ commercial banks | 99% of total | 99% of total | 99% of total | Country Editor | A.1.2.1 |
| Non-depository financial institutions specialized in housing finance | Not available | Not available | Not available | A.1.2.3 | |
| Identify the 3 largest loan originating lenders | International Bank of Azerbaijan, XalqBank, AGBank | Unibank; International Bank of Azerbaijan; Kapitalbank | Country Editor | A.1.3 | |
| Are there (quasi) public mortgage lenders: | Yes | Yes | Yes | Country Editor | A.1.4 |
| Universal/ commercial banks | Yes | Yes | Yes | 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 | Yes | Yes | No | Country Editor | A.1.4.4 |
| Others (e.g. insurance co, pension funds, labor tax funds) | No | No | No | Country Editor | A.1.4.5 |
| Typical lending spreads for mortgages | Not available | Not available | Not available | Country Editor | A.1.5 |
| 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: | 1,217.68 USD (millions) | Not available | Not available | A.2.1 | |
| Total amount of home mortgage loans outstanding at the end of year as % of GDP (current) | 2% | Not available | Not available | A.2.1.1 | |
| and as % of all credits outstanding | Not available | Not available | Not available | Country Editor | A.2.1.2 |
| Total # of home mortgage loans outstanding at the end of year | Not available | Not available | 13,602 thousand | Country Editor | A.2.2 |
| Total amount of home mortgages made in calendar year in millions of USD | 97.2 USD (millions) | 121.38 USD (millions) | 144.74 USD (millions) | A.2.3 | |
| and as % of GDP (current) | .18% | .16% | .2% | A.2.3.1 | |
| and as % of all credits originated in calender year | 4.71% | A.2.3.2 | |||
| What % of total new mortgages is refinance? | Not available | Not available | Not available | Country Editor | A.2.5 |
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 | ||||
| Fixed rate for life of loan | 100% | 100% | 100% | Country Editor | A.3.1.1 |
| Variable rate/indexed | 0% | 0% | 0% | Country Editor | A.3.1.2 |
| Variable rate/discretionary | 0% | 0% | 0% | Country Editor | A.3.1.3 |
| Other fully amortizing loans (e.g. Rollover) | 0% | 0% | 0% | Country Editor | A.3.1.4 |
| Non-fully amoritizing loans (e.g. Price level adjusted/Interest only) | 0% | 0% | 0% | Country Editor | A.3.1.5 |
| Loans based on foreign currency as % of all mortgage products | 0% | 0% | 0% | Country Editor | A.3.2 |
| Most prevalent type of foreign currency mortgage used: | A.3.3 | ||||
| Fixed rate for life of loan | 0% | 0% | 0% | Country Editor | A.3.3.1 |
| Variable rate/indexed | 0% | 0% | 0% | Country Editor | A.3.3.2 |
| Variable rate/discretionary | 0% | 0% | 0% | Country Editor | A.3.3.3 |
| Other (describe in the Notes section) | 0% | 0% | 0% | Country Editor | A.3.3.4 |
| Most frequent interest rates on fully amortizing: | A.3.4 | ||||
| 10 year fixed rate mortgage | 8% | 8% | 10% | Country Editor | A.3.4.1 |
| Typical lender fees associated with mortgage origination: | A.3.6 | ||||
| Fixed in amount | 50 USD | 6.5 USD | 64.1 USD | Country Editor | A.3.6.1 |
| as % of loan amount | .1% | .1% | .1% | Country Editor | A.3.6.2 |
| Typical third party fees associated with mortgage origination: | A.3.7 | ||||
| Appraisal fees | 135 USD | 168.75 USD | 173 USD | Country Editor | A.3.7.1 |
| Title related fees | 100 USD | 125 USD | 128 USD | Country Editor | A.3.7.2 |
| Legal fees | 163 USD | 203.75 USD | 208 USD | Country Editor | A.3.7.3 |
| Search fees | 500 USD | 625 USD | 641 USD | Country Editor | A.3.7.4 |
| Loan-to-Value (LTV) on first mortgage: | A.3.8 | ||||
| Maximum LTV | 85 | 85 | 80 | Country Editor | A.3.8.1 |
| Typical LTV at origination | 77.50 | 77.50 | 77.50 | Country Editor | A.3.8.2 |
| Maximum term over which pmt is calculated? | 30 years | 30 years | 30 years | Country Editor | A.3.9 |
| Mortgage pmt-to-income ratio | A.3.10 | ||||
| Maximum pmt-to-income ratio (HH income) | 70% | 70% | 70% | Country Editor | A.3.10.1 |
| Maximum pmt-to-income ratio (Individual income) | 70% | 70% | 70% | Country Editor | A.3.10.2 |
| Typical pmt-to-income ratio (HH income) | 67.5% | 67.5% | 67.5% | Country Editor | A.3.10.3 |
| Typical pmt-to-income ratio (Individual income) | 67.5% | 67.5% | 67.5% | Country Editor | A.3.10.4 |
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 | Country Editor | A.4.1 |
| Which institutions define underwriting rules? | A.4.2 | ||||
| Central Bank/Ministry of Finance | Yes | Yes | Yes | Country Editor | A.4.2.1 |
| Secondary market facility | Yes | Yes | Yes | Country Editor | A.4.2.2 |
| Major Lender | Yes | Yes | Yes | Country Editor | A.4.2.3 |
| Other | No | No | No | Country Editor | A.4.2.4 |
| Are loan originations conducted by others than employees of lenders? | No | No | No | Country Editor | A.4.3 |
| % of Originations done by brokers | 0% | 0% | 0% | Country Editor | A.4.3.1 |
| % of Originations done on the internet | 0% | 0% | 0% | Country Editor | A.4.3.2 |
| Others (Specify in Notes) | 0% | 0% | 0% | Country Editor | A.4.3.3 |
| % of appraisals done by employees of lenders | 0% | 0% | 0% | Country Editor | A.4.4 |
| 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 2015 | End of 2014 | End of 2013 | Sources | Var ID |
|---|---|---|---|---|---|
| Do credit bureaus exist? | Yes | Yes | Yes | 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? | 0% | 0% | 0% | Country Editor | A.5.1 |
| Is mortgage default insurance available? | Yes | Yes | Yes | Country Editor: Law on Insurance Activity | A.5.3 |
| When did it begin operating? | 2008 | 2008 | 2008 | Country Editor: Law on Insurance Activity | A.5.3.1 |
| What is the typical MI product? | Not available | Not available | Property and life | Country Editor | A.5.3.2 |
| Number of private mortgage insurers | 27 | Country Editor | A.5.3.3 | ||
| Are credit guarantee systems used? | No | No | No | Country Editor | A.5.4 |
| Is there public sponsored MI / guarantee? | No | No | No | Country Editor | A.5.5 |
| What % of the market does public MI / guarantee serve? | Non-applicable | Non-applicable | Non-applicable | Country Editor | A.5.6 |
| What share of total annual mortgage production is insured/guaranteed? | 100% | Country Editor | A.5.7 |
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) | tertiary | B.1.1 | |||
| Wholesale funding: loans from other banks or corporations | Non-applicable | B.1.2 | |||
| Funding through mortgage bonds | primary | B.1.3 | |||
| Funding through securitization of mortgages | Non-applicable | B.1.4 | |||
| Other | secondary | B.1.5 | |||
| What % of Residential Mortgage Backed Securities is issued by centralized conduit or liquidity facility? | 0% | 0% | 0% | Country Editor | B.2 |
| Who are the investors in RMBS? | Non-applicable | Non-applicable | Non-applicable | Country Editor | B.3 |
| What is the proportion of RMBS in the overall private securities market? | 0% | 0% | 0% | Country Editor | B.4 |
C. Housing Microfinance
| Variable | End of 2015 | End of 2014 | End of 2013 | Sources | Var ID |
|---|---|---|---|---|---|
| Are non-collateralized housing micro-finance loans offered? | Yes | Yes | Yes | Country Editor | C.1 |
| Types of lenders operating in the housing micro-finance (HMF) sector: | C.2 | ||||
| Commercial banks | Yes | Yes | Yes | Country Editor | C.2.1 |
| Specialized non-depository MFIs | Not available | Not available | Not available | Country Editor | C.2.2 |
| NGOs | Not available | Not available | Not available | Country Editor | C.2.3 |
| Others | Not available | Not available | Not available | Country Editor | C.2.4 |
| None | Not available | Not available | Not available | Country Editor | C.2.5 |
| Typical lending spreads in HMF | 10.00 | 10.00 | 10.00 | Country Editor | C.3 |
| 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 | Country Editor | C.5 |
| Lowest income decile served with all non-collateralized housing lending products | Not available | Not available | Not available | Country Editor | C.6 |