Mortgage markets worldwide

Mortgage Markets Worldwide......Page 1
Preface......Page 11
Contributors......Page 16
The evolution of the mortgage markets in China......Page 21
An early assessment of China’s residential mortgage loans
performance......Page 35
Notes......Page 50
References......Page 52
Economic overview......Page 54
Demographic trends and housing stock......Page 55
Formal mortgage market......Page 63
Securitization of housing loans......Page 76
Role of government and recent regulatory reforms......Page 78
Other developments......Page 82
Finance to builders......Page 83
Issues in housing finance: reform agenda......Page 84
References......Page 87
Overview of the Japanese economy, housing markets,
the housing finance markets and systems in Japan......Page 89
Restructuring the public housing loan corporation:
causes and possible consequences......Page 99
Some recent movements in the Japanese housing finance
markets and systems: securitization of real estate in Japan......Page 101
Conclusion......Page 104
References......Page 106
Further reading......Page 107
Housing finance in Singapore......Page 109
ARM prepayment for private housing......Page 111
ARM prepayment for public housing......Page 112
The Central Provident Fund......Page 114
ARM delinquency and default within the CPF context......Page 116
Innovations in mortgage products......Page 117
Conclusion......Page 123
References......Page 124
Introduction......Page 126
Brief review of the Israeli economy and mortgage market......Page 127
Modelling mortgage insurance as a screening mechanism......Page 132
Notes......Page 139
References......Page 141
Introduction......Page 143
Housing finance......Page 144
Housing mortgage in a socialist economy......Page 146
The Czech Republic......Page 147
Mortgage banking......Page 149
Hungary......Page 151
Housing finance systemin Hungary......Page 152
Loan guarantee measures......Page 156
Financial institutions......Page 157
Evolution of housing mortgage loans......Page 159
The demand for housing and mortgage credit......Page 160
Short history of mortgage banking......Page 161
Increasing individual housing loans......Page 162
Public mortgage bonds......Page 163
Slovakia......Page 164
Housing finance......Page 165
Slovenia......Page 166
Mortgage loan systemin Slovenia......Page 168
Housing market in Slovenia......Page 169
Obstacles of the mortgage loan market in Slovenia......Page 171
Discussion......Page 172
Summary and conclusion......Page 174
Abbreviations......Page 176
References......Page 177
Introduction......Page 181
Determinants underlying expansion of the mortgage
loan market......Page 182
The mortgage loan market – a retrospective analysis......Page 187
Current situation on the mortgage loan market......Page 190
The loan insurance system......Page 194
Future of the mortgage loan market......Page 195
Notes......Page 197
References......Page 198
Introduction......Page 199
Economic and property market fundamentals......Page 200
Primary mortgage markets......Page 204
Secondary mortgage markets......Page 208
Conclusion and outlook......Page 226
Notes......Page 228
References......Page 230
Introduction......Page 235
Land and property in the development of capital......Page 237
State housing policy initiatives......Page 239
Formal mortgage in Ghana......Page 243
Features of the mortgage market......Page 244
The legal framework......Page 246
The Home Finance Company (HFC)......Page 247
References......Page 249
Introduction......Page 251
Housing finance and the economy......Page 252
Russia,India and China: defining similarities and contrasts......Page 255
Benchmarking......Page 263
Concluding remarks......Page 269
Notes......Page 270
References......Page 271
Introduction......Page 273
Recurring issues in developing mortgage markets......Page 275
Types of mortgage systems observed in developing countries......Page 291
Lessons learned and some strategic priorities......Page 295
Notes......Page 296
References......Page 300
Appendix 1......Page 302
Appendix 2......Page 306
Notes to appendices......Page 308
Index......Page 309