A. Primary Housing Finance Market
A.1 Industry Structure and Performance
| Variable | End of 2014 | End of 2013 | End of 2012 | Sources | Var ID |
|---|---|---|---|---|---|
| Types of originating lenders/market share: | A.1.2 | ||||
| Universal/ commercial banks | 75% of total | World Bank Report on Housing Finance in South Asia - http://hofinet.org/documents/doc.aspx?id=246 | A.1.2.1 | ||
| Identify the 3 largest loan originating lenders | National Savings Bank, State Mortgage and Investment Bank, HDFC Sri Lanka | World Bank report on Housing Finance in South Asia - http://hofinet.org/documents/doc.aspx?id=246 | 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 2014 | End of 2013 | End of 2012 | Sources | Var ID |
|---|---|---|---|---|---|
| Total amount of home mortgage loans outstanding at the end of year in millions of USD: | 1,715.61 USD (millions) | 1,335.63 USD (millions) | 1,259.3 USD (millions) | A.2.1 | |
| Total amount of home mortgage loans outstanding at the end of year as % of GDP (current) | 2.29% | 1.98% | 2.12% | Central Bank of Sri Lanka and WEO | A.2.1.1 |
| and as % of all credits outstanding | 5.08% | 6.8% | 5.04% | WDI (Net Domestic Credit): http://data.worldbank.org/indicator/FM.AST.DOMS.CN | A.2.1.2 |
A.3 Housing Finance Products
| Variable | End of 2014 | End of 2013 | End of 2012 | 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 | ||||
| 10 year fixed rate mortgage | 13.5% | State Mortgage, Investment Bank, National Savings Bank and State-owned mortgage banks -
http://www.smib.lk/rates | 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 | ||||
| Loan-to-Value (LTV) on first mortgage: | A.3.8 | ||||
| Maximum LTV | 80% | 80% | Press Release: Central Bank Introduces a Credit Guarantee Scheme on Pawning | A.3.8.1 | |
| Typical LTV at origination | 75% | 75% | 75% | SMIB and People's Bank | A.3.8.2 |
| Maximum term over which pmt is calculated? | 25 years | 30 years | NSB Bank | A.3.9 | |
| Mortgage pmt-to-income ratio | A.3.10 | ||||
| Maximum pmt-to-income ratio (Individual income) | 40% | HDFC Bank and SMIB - http://www.hdfc.lk/ | A.3.10.2 | ||
A.4 Lending and Servicing Process
| Variable | End of 2014 | End of 2013 | End of 2012 | Sources | Var ID |
|---|---|---|---|---|---|
| Which institutions define underwriting rules? | A.4.2 | ||||
A.5 Credit Risk Assessment
| Variable | End of 2014 | End of 2013 | End of 2012 | Sources | Var ID |
|---|---|---|---|---|---|
| Do credit bureaus exist? | Yes | Yes | Yes | Doing Business - Sri Lanka | A.5.2 |
| Is mortgage default insurance available? | Yes | Yes | Yes | Sri Lanka Insurance and Asian Alliance Insurance | A.5.3 |
| Number of private mortgage insurers | 2 | Asian Alliance and Allianz Insurance - http://www.asianalliance.lk/personal_loanprotect.html | A.5.3.3 | ||
| Is there public sponsored MI / guarantee? | Yes | Yes | Sri Lanka Insurance | A.5.5 |
B. Funding Sources for Mortgages and the Secondary Mortgage Market
| Variable | End of 2014 | End of 2013 | End of 2012 | Sources | Var ID |
|---|---|---|---|---|---|
| What are the main funding sources for mortgages? | B.1 | ||||
| Retail funding (deposits/other) | primary | primary | primary | B.1.1 | |
| Wholesale funding: loans from other banks or corporations | secondary | secondary | secondary | B.1.2 | |
| Funding through mortgage bonds | Non-applicable | B.1.3 | |||
| Funding through securitization of mortgages | Non-applicable | B.1.4 | |||
C. Housing Microfinance
| Variable | End of 2014 | End of 2013 | End of 2012 | Sources | Var ID |
|---|---|---|---|---|---|
| Are non-collateralized housing micro-finance loans offered? | Yes | World Bank report on Housing Finance in South Asia - http://hofinet.org/documents/doc.aspx?id=246 | C.1 | ||
| Types of lenders operating in the housing micro-finance (HMF) sector: | C.2 | ||||
| Commercial banks | Yes | HDFC Bank Annual Report | C.2.1 | ||
| Level of NPLs (>90 days past due) in HMF | C.4 | ||||