The Housing Finance System

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    A. Primary Housing Finance Market

    A.1 Industry Structure and Performance
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Types of originating lenders/market share:A.1.2
    Are there (quasi) public mortgage lenders:YesYesYesA.1.4
    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
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Total amount of home mortgage loans outstanding at the end of year in millions of USD:281.95 USD (millions)295.81 USD (millions)302.29 USD (millions)A.2.1
    Total amount of home mortgage loans outstanding at the end of year as % of GDP (current)21.91%23.7%25.51%A.2.1.1
    and as % of all credits outstanding39.87%37.12%35.96%A.2.1.2
    A.3 Housing Finance Products
    VariableEnd of 2015End of 2014End of 2013SourcesVar 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 LTV100  A.3.8.1
    Maximum term over which pmt is calculated? 35 years35 years30 years
    Antigua Commercial Bank, CIBC
    		A.3.9
    Mortgage pmt-to-income ratio A.3.10
    Maximum pmt-to-income ratio (HH income)  40%A.3.10.1
    Maximum pmt-to-income ratio (Individual income)  40%A.3.10.2
    A.4 Lending and Servicing Process
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Which institutions define underwriting rules? A.4.2
    A.5 Credit Risk Assessment
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Do credit bureaus exist? NoNoNoA.5.2
    Are there legal/regulatory constraints to gaining access to credit information?YesYesYesA.5.2.1
    What percentage of mortgage originations use credit scoring?0%0%0%A.5.1
    Is mortgage default insurance available?YesYesYesA.5.3
    B. Funding Sources for Mortgages and the Secondary Mortgage Market
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    What are the main funding sources for mortgages?B.1
    Retail funding (deposits/other)primaryprimaryprimary
    Various commercial banks
    		B.1.1
    Other secondarysecondarysecondaryB.1.5
    C. Housing Microfinance
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Types of lenders operating in the housing micro-finance (HMF) sector:C.2
    Level of NPLs (>90 days past due) in HMFC.4
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    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Land tax and land value appreciation tax
    Notes: Land tax and land value appreciation tax
    Notes: Land tax and land value appreciation tax
    Notes: Net rental income is taxed at a flat rate of 20%.
    Notes: Net rental income is taxed at a flat rate of 20%.
    Notes: Net rental income is taxed at a flat rate of 20%.
    Notes: The Policy covers collateral security for repayment of the difference between the Mortgagee’s actual advance and its usual advance in respect of a loan to the customers. Mortgage Indemnity Policy secures up to 100% mortgage.
    Notes: The Policy covers collateral security for repayment of the difference between the Mortgagee’s actual advance and its usual advance in respect of a loan to the customers. Mortgage Indemnity Policy secures up to 100% mortgage.
    Notes: The Policy covers collateral security for repayment of the difference between the Mortgagee’s actual advance and its usual advance in respect of a loan to the customers. Mortgage Indemnity Policy secures up to 100% mortgage.