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
Universal/ commercial banks100% of total100% of total A.1.2.1
Other depository institutions (savings and loans/mutual savings and credit institutions)0% of total0% of total A.1.2.2
Non-depository financial institutions specialized in housing finance0% of total0% of total A.1.2.3
General non-depository financial institutions0% of total0% of total A.1.2.4
Others (e.g. insurance co, pension funds, labor tax funds)0% of total0% of total A.1.2.5
Identify the 3 largest loan originating lendersSEB, Swedbank, and CNBSEB, Swedbank, and DNB A.1.3
Are there (quasi) public mortgage lenders:NoNo 
Research
A.1.4
Universal/ commercial banksNoNo 
Research
A.1.4.1
Other depository institutions (savings and loans/mutual savings and credit institutions)NoNo 
Research
A.1.4.2
Non-depository financial institutions specialized in housing financeNoNo 
Research
A.1.4.3
General non-depository financial institutionsNoNo 
Research
A.1.4.4
Others (e.g. insurance co, pension funds, labor tax funds)NoNo 
Research
A.1.4.5
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
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
Total amount of home mortgage loans outstanding at the end of year in millions of USD:6,622.83 USD (millions)7,250 USD (millions)7,994.52 USD (millions)A.2.1
Total amount of home mortgage loans outstanding at the end of year as % of GDP (current)16.05%14.96%17.22%
HypoStat and WEO
A.2.1.1
and as % of all credits outstanding  34.4%
WDI
A.2.1.2
Total amount of home mortgages made in calender year in millions of USD1,166.67 USD (millions)1,168 USD (millions)725.33 USD (millions)A.2.3
and as % of GDP (current) 2.83%2.41%1.56%
Calculated from HypoStat and WEO
A.2.3.1
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 LTV85.0085.0085.00A.3.8.1
Typical LTV at origination80.080.075.0A.3.8.2
Maximum term over which pmt is calculated? 30 years40 years40 yearsA.3.9
Mortgage pmt-to-income ratio A.3.10
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? YesYesYes
Research
A.5.2
Is mortgage default insurance available?YesYesYesA.5.3
When did it begin operating?July 2000July 2000July 2000A.5.3.1
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)primaryprimaryprimaryB.1.1
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:
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Notes: (2010 = 100)
Notes: 1% Real Estate tax assessed on property value
Notes: 15% tax imposed on gross rental income
Notes: Capital gains are subject to a 15% flat tax. However, real property owned for at least three years are tax exempt
Notes: Lithuania's system for registering a property/title is among the most efficient in the world. The system is fully computerized
Notes: Maximum Observed Maturity Date
Notes: The LTV ratio is capped at 85%. However, banks are able to make exceptions
Notes: The LTV ratio is capped at 85%. However, banks are able to make exceptions