A. Primary Housing Finance Market
A.1 Industry Structure and Performance
| Variable | End of 2017 | End of 2016 | End of 2015 | Sources | Var ID |
|---|---|---|---|---|---|
| Types of originating lenders/market share: | A.1.2 | ||||
| Universal/ commercial banks | 100% of total | 100% of total | 100% of total | ECBC | A.1.2.1 |
| Identify the 3 largest loan originating lenders | Unicredit, Banca Monte dei Paschi, Banca Intesa Sanpaolo | A.1.3 | |||
| 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 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: | 450,213.2 USD (millions) | 404,655.85 USD (millions) | 479,878.78 USD (millions) | Banca D'Italia | A.2.1 |
| Total amount of home mortgage loans outstanding at the end of year as % of GDP (current) | 23.23% | 21.86% | 26.43% | Banca D'Italia and WEO | A.2.1.1 |
| and as % of all credits outstanding | 11.76% | Not available | World Bank and Banca D'Italia | A.2.1.2 | |
| Total amount of home mortgages made in calendar year in millions of USD | 80,520.86 USD (millions) | 73,766.67 USD (millions) | ECBC | A.2.3 | |
| and as % of GDP (current) | 4.16% | 4.06% | ECBC and WEO | A.2.3.1 | |
| and as % of all credits originated in calender year | 19.5% | 18.9% | IMF FSI | A.2.3.2 |
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 | 50% | ECBC | A.3.1.1 | ||
| Variable rate/indexed | 62.8% | 2009 Financial Stability Report | A.3.1.2 | ||
| Loans based on foreign currency as % of all mortgage products | 0% | 0% | 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 | 1.9% | 2.17% | 2.8% | HypoStat | A.3.4.1 |
| Typical lender fees associated with mortgage origination: | A.3.6 | ||||
| Typical third party fees associated with mortgage origination: | A.3.7 | ||||
| Appraisal fees | 735 USD | A.3.7.1 | |||
| Loan-to-Value (LTV) on first mortgage: | A.3.8 | ||||
| Maximum LTV | 80.00 | 80 | 80.00 | A.3.8.1 | |
| Typical LTV at origination | 71.00 | 70 | 70 | HypoStat | A.3.8.2 |
| Maximum term over which pmt is calculated? | 30 years | 30 years | 30 years | Intesa Sanpaolo | A.3.9 |
| Mortgage pmt-to-income ratio | A.3.10 | ||||
| Maximum pmt-to-income ratio (Individual income) | 33% | A.3.10.2 | |||
| Typical pmt-to-income ratio (Individual income) | 35% | FSB | 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? | Yes | A.4.1 | |||
| Which institutions define underwriting rules? | A.4.2 | ||||
| Central Bank/Ministry of Finance | Yes | A.4.2.1 | |||
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 | Banca D'Italia | A.5.2 |
| Is mortgage default insurance available? | Yes | Yes | Yes | A.5.3 | |
| Are credit guarantee systems used? | Yes | Yes | Yes | A.5.4 | |
| Is there public sponsored MI / guarantee? | No | FSB | A.5.5 |
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 | HypoStat | B.1.1 |
| Funding through mortgage bonds | tertiary | tertiary | tertiary | Hypostat | B.1.3 |
| Funding through securitization of mortgages | secondary | secondary | secondary | Hypostat | B.1.4 |
C. Housing Microfinance
| Variable | End of 2017 | End of 2016 | End of 2015 | Sources | Var ID |
|---|---|---|---|---|---|
| Types of lenders operating in the housing micro-finance (HMF) sector: | C.2 | ||||
| Level of NPLs (>90 days past due) in HMF | C.4 | ||||