The Housing Finance System

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    A. Primary Housing Finance Market

    A.1 Industry Structure and Performance
    VariableEnd of 2014End of 2013End of 2012SourcesVar ID
    Types of originating lenders/market share:A.1.2
    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 2014End of 2013End of 2012SourcesVar ID
    Total amount of home mortgage loans outstanding at the end of year in millions of USD:168.07 USD (millions)173.63 USD (millions)176.34 USD (millions)A.2.1
    Total amount of home mortgage loans outstanding at the end of year as % of GDP (current)19.41%20.97%22.41%
    WEO and Reserve Bank of Vanuatu
    		A.2.1.1
    and as % of all credits outstanding30.2%32.44%31.91%
    WDI and Reserve Bank of Vanuatu
    		A.2.1.2
    A.3 Housing Finance Products
    VariableEnd of 2014End of 2013End of 2012SourcesVar 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 80% A.3.8.1
    Mortgage pmt-to-income ratio A.3.10
    A.4 Lending and Servicing Process
    VariableEnd of 2014End of 2013End of 2012SourcesVar ID
    Which institutions define underwriting rules? A.4.2
    A.5 Credit Risk Assessment
    VariableEnd of 2014End of 2013End of 2012SourcesVar ID
    Do credit bureaus exist? YesYes A.5.2
    Are there legal/regulatory constraints to gaining access to credit information?YesYes A.5.2.1
    What percentage of mortgage originations use credit scoring?%% A.5.1
    B. Funding Sources for Mortgages and the Secondary Mortgage Market
    VariableEnd of 2014End of 2013End of 2012SourcesVar ID
    What are the main funding sources for mortgages?B.1
    C. Housing Microfinance
    VariableEnd of 2014End of 2013End of 2012SourcesVar ID
    Types of lenders operating in the housing micro-finance (HMF) sector:C.2
    Level of NPLs (>90 days past due) in HMFC.4
    back to top | Country Data:
    Notes: 2010=100
    Notes: 2010=100
    Notes: 2010=100
    Notes: 2010=100
    Notes: Bureau/registry credit scores are not offered as a value-added service to help banks and financial institutions assess the creditworthiness of borrowers
    Notes: Bureau/registry credit scores are not offered as a value-added service to help banks and financial institutions assess the creditworthiness of borrowers
    Notes: National Rate
    Notes: Only about 4,500 people were categorised as being unemployed, resulting in an unemployment rate of 4.6%; 4.1% for males and 5.2% for females. The unemployment rates are 12% and 2% in the urban and rural areas respectively. If subsistence workers were included as part of the unemployed — on the grounds that these people would look for work if they believed cash work was available in their labour market community — the total unemployment level would increase to 46,395 people, or an unemployment rate of 47% (43% for males and 51% for females, and 20% for the urban area and 55% in rural areas). While this assumption would not apply to all individuals in this group, it would likely apply to a proportion of them. Depending on the assumptions a user of these data may wish to use, the resulting unemployment rate would fall somewhere between 4.6% and 47%.