A. Primary Housing Finance Market
A.1 Industry Structure and Performance
| Variable | End of 2017 | End of 2016 | End of 2015 | Sources | Var ID |
|---|---|---|---|---|---|
| Number of firms originating and funding mortgage loans | 410 | 484 | 559.00 | Central Bank of Russia | A.1.1 |
| Types of originating lenders/market share: | A.1.2 | ||||
| Universal/ commercial banks | 100% of total | 100% of total | 100% 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 | 0% of total | Country Editor | A.1.2.2 |
| Non-depository financial institutions specialized in housing finance | Non-applicable | Non-applicable | Non-applicable | Country Editor | A.1.2.3 |
| General non-depository financial institutions | Non-applicable | Not available | Not available | Country Editor | A.1.2.4 |
| Others (e.g. insurance co, pension funds, labor tax funds) | Non-applicable | Not available | Not available | Country Editor | A.1.2.5 |
| Identify the 3 largest loan originating lenders | Sberbank, VTB, Gazprombank | Sberbank, VTB, Gazprombank | Sberbank, VTB, Gazprombank | 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 | Yes | Yes | Yes | 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) | 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 | ||||
| as a % of # of loans | Not available | Not available | Not available | Country Editor | A.1.6.1 |
| as a % of outstanding loan amount | 2.2% | 2.7% | 3.03% | Central Bank of Russia | A.1.6.2 |
| Average 1997-2007 | A.1.7 | ||||
| as a % of # of loans | Not available | Not available | Not available | Country Editor | A.1.7.1 |
| as a % of outstanding loan amount | Not available | Not available | Not available | Country Editor | A.1.7.2 |
| Lowest decile of the income distribution served by the dominant mortgage lenders | Not available | Not available | Not available | Country Editor | A.1.8 |
A.2 Size of Mortgage Finance Sector
| Variable | End of 2017 | End of 2016 | End of 2015 | Sources | Var ID |
|---|---|---|---|---|---|
| Total amount of home mortgage loans outstanding at the end of year in millions of USD: | 88,184.57 USD (millions) | 67,006.08 USD (millions) | 64,208.16 USD (millions) | Central Bank of Russia | A.2.1 |
| Total amount of home mortgage loans outstanding at the end of year as % of GDP (current) | 5.59% | 5.22% | 4.93% | Central Bank of Russia | A.2.1.1 |
| and as % of all credits outstanding | 42.4% | 41.7% | 37.4% | Central Bank of Russia | A.2.1.2 |
| Total # of home mortgage loans outstanding at the end of year | Not available | Not available | Not available | Country Editor | A.2.2 |
| Total amount of home mortgages made in calendar year in millions of USD | 34,646.98 USD (millions) | 21,971.82 USD (millions) | 19,063.14 USD (millions) | Central Bank of Russia | A.2.3 |
| and as % of GDP (current) | 2.2% | 1.71% | 1.44% | Central Bank of Russia | A.2.3.1 |
| and as % of all credits originated in calender year | 21.89% | 20.43% | 19.8% | Central Bank of Russia | A.2.3.2 |
| Total # of home mortgage originations made in calendar year | 1,086.94 thousand | 856.46 thousand | 699.42 thousand | Central Bank of Russia | A.2.4 |
| 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 2017 | End of 2016 | End of 2015 | 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 | .03% | .07% | .34% | Country Editor | A.3.2 |
| Most prevalent type of foreign currency mortgage used: | A.3.3 | ||||
| Fixed rate for life of loan | 100% | 100% | 100% | 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 | 11% | 12.5% | 13.5% | Country Editor | A.3.4.1 |
| most common indexed ARM/10 year term | Not available | Not available | Not available | Country Editor | A.3.4.2 |
| discretionary ARM/10 year term | Not available | Not available | Not available | Country Editor | A.3.4.3 |
| 5 year roll-over/10 year term | Not available | Not available | Not available | Country Editor | A.3.4.4 |
| foreign currency based 10 year FRM | 7.5% | 8.7% | 10% | Country Editor | A.3.4.5 |
| Most frequent rate on interest only 10 yr FRM | Not available | Not available | Not available | Country Editor | A.3.5 |
| Typical lender fees associated with mortgage origination: | A.3.6 | ||||
| Fixed in amount | Not available | Not available | Not available | Country Editor | A.3.6.1 |
| as % of loan amount | Not available | Not available | Not available | Country Editor | A.3.6.2 |
| Typical third party fees associated with mortgage origination: | A.3.7 | ||||
| Appraisal fees | Not available | Not available | Not available | Country Editor | A.3.7.1 |
| Title related fees | Not available | Not available | Not available | Country Editor | A.3.7.2 |
| Legal fees | Not available | Not available | Not available | Country Editor | A.3.7.3 |
| Search fees | Not available | Not available | Not available | Country Editor | A.3.7.4 |
| Loan-to-Value (LTV) on first mortgage: | A.3.8 | ||||
| Maximum LTV | 90 | 90 | 90.00 | Country Editor | A.3.8.1 |
| Typical LTV at origination | 70 | 70 | 70.00 | 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) | 50% | 60% | 60% | Country Editor | A.3.10.1 |
| Maximum pmt-to-income ratio (Individual income) | Not available | Not available | Not available | Country Editor | A.3.10.2 |
| Typical pmt-to-income ratio (HH income) | 45% | 45% | 45% | Country Editor | A.3.10.3 |
| Typical pmt-to-income ratio (Individual income) | Not available | Not available | Not available | Country Editor | A.3.10.4 |
A.4 Lending and Servicing Process
| Variable | End of 2017 | End of 2016 | End of 2015 | 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 | ||||
| Central Bank/Ministry of Finance | No | No | No | Country Editor | A.4.2.1 |
| Secondary market facility | No | No | No | Country Editor | A.4.2.2 |
| Major Lender | No | No | No | 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% | Country Editor | A.4.3.1 | |
| % of Originations done on the internet | 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 | Not available | Not available | Not available | Country Editor | A.4.4 |
| Do third party servicing institutions exist? | Yes | Yes | Yes | Country Editor | A.4.5 |
| % of loans serviced by originators/lenders | Not available | Not available | Not available | Country Editor | A.4.6 |
A.5 Credit Risk Assessment
| Variable | End of 2017 | End of 2016 | End of 2015 | Sources | Var ID |
|---|---|---|---|---|---|
| Do credit bureaus exist? | Yes | Yes | Yes | Country Editor, Interfax | 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 | Country Editor | A.5.1 |
| Is mortgage default insurance available? | No | No | No | Country Editor | A.5.3 |
| When did it begin operating? | 2010 | 2010 | 2010 | Country Editor | A.5.3.1 |
| Number of private mortgage insurers | 0 | 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 | Yes | Country Editor | A.5.5 |
| What % of the market does public MI / guarantee serve? | Not available | Not available | Not available | Country Editor | A.5.6 |
| What share of total annual mortgage production is insured/guaranteed? | 0% | 0% | Country Editor | A.5.7 |
B. Funding Sources for Mortgages and the Secondary Mortgage Market
| Variable | End of 2017 | End of 2016 | End of 2015 | 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 | Non-applicable | Non-applicable | Non-applicable | Country Editor | B.1.2 |
| Funding through mortgage bonds | tertiary | tertiary | tertiary | Country Editor | B.1.3 |
| Funding through securitization of mortgages | secondary | secondary | secondary | Country Editor | B.1.4 |
| 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? | Institutional Investors | Institutional Investors | Institutional Investors | Country Editor | B.3 |
| What is the proportion of RMBS in the overall private securities market? | Not available | Not available | Not available | Country Editor | B.4 |
C. Housing Microfinance
| Variable | End of 2017 | End of 2016 | End of 2015 | 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 | Yes | Yes | No | Country Editor | C.2.2 |
| NGOs | No | No | No | Country Editor | C.2.3 |
| Others | No | No | No | Country Editor | C.2.4 |
| None | No | No | No | Country Editor | C.2.5 |
| Typical lending spreads in HMF | Not available | Not available | Not available | Country Editor | C.3 |
| Level of NPLs (>90 days past due) in HMF | C.4 | ||||
| as a % of loans | Not available | Not available | Not available | Country Editor | C.4.1 |
| as a % of outstanding loan amount | Not available | Not available | Not available | Country Editor | C.4.2 |
| Are non-collateralized but secured housing finance products offered (e.g. secured by pension or insurance savings) | No | No | No | 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 |