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Latin America and the Caribbean

The Housing Finance System

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A. Primary Housing Finance Market
B. Funding Sources for Mortgages and the Secondary Mortgage Market
C. Housing Microfinance

A. Primary Housing Finance Market

A.1 Industry Structure and Performance

Variable	End of 2015	End of 2014	End of 2013	Sources	Var 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

Variable	End of 2015	End of 2014	End of 2013	Sources	Var ID
Total amount of home mortgage loans outstanding at the end of year in millions of USD:			182.22 USD (millions)	ECCB Annual Financial Statistics Yearbook	A.2.1
Total amount of home mortgage loans outstanding at the end of year as % of GDP (current)			24.69%	WDI, ECCB Annual Financial Statistics Yearbook	A.2.1.1
and as % of all credits outstanding			35.28%	ECCB Annual Financial Statistics Yearbook	A.2.1.2

A.3 Housing Finance Products

Variable	End of 2015	End of 2014	End of 2013	Sources	Var 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			95%	Scotia Bank and First Caribbean Bank	A.3.8.1
Maximum term over which pmt is calculated?			35 years	First Caribbean Bank	A.3.9
Mortgage pmt-to-income ratio					A.3.10

A.4 Lending and Servicing Process

Variable	End of 2015	End of 2014	End of 2013	Sources	Var ID
Which institutions define underwriting rules?					A.4.2

A.5 Credit Risk Assessment

Variable	End of 2015	End of 2014	End of 2013	Sources	Var ID
Do credit bureaus exist?			No	Doing Business - World Bank report	A.5.2

B. Funding Sources for Mortgages and the Secondary Mortgage Market

Variable	End of 2015	End of 2014	End of 2013	Sources	Var ID
What are the main funding sources for mortgages?					B.1
Retail funding (deposits/other)			primary	Annual Reports - St.Kitts Nevis Anguilla National Bank, Scotia Bank	B.1.1
Wholesale funding: loans from other banks or corporations			secondary	Annual Reports - St.Kitts Nevis Anguilla National Bank, Scotia Bank	B.1.2

C. Housing Microfinance

Variable	End of 2015	End of 2014	End of 2013	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

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