Project Details
Detailed Narrative Description of the Project:
Undertake
the comprehensive analysis of the Social Housing Market Operation and the
providers of mortgage products undertaken by the various government entities to
identify the scope of coverage and potential overlaps in functions;
Undertake
a comprehensive analysis of the business environment of the primary mortgage
market, the credit underwriting, the pricing of instruments, the regulatory
capital allocation and portfolio management strategies of financial
institutions with mortgage exposure and identify opportunities and challenges
to undertake the securitization of mortgage products and the creation of a
mortgage-backed securities;
Provide
a cross country benchmark on Secondary Mortgage market and provide applicable
references to develop a liquid secondary mortgage market with active
participations of banking institutions taking into account the unique
challenges of the Philippines market;
Undertake a market survey with Banking and Financial Institutions to identify key drivers and challenges towards securitization of mortgage exposures and provide recommendations to the National Home Mortgage Finance Corporation (NHMFC) to help unlock and develop a liquid secondary mortgage market.
Identify possible incentives that could attract the banking sector to unload their housing loans in support of securitization.
Detailed Description of Actual Services Provided by AGMES Consultants:
Analyze the primary mortgage markets and
provide recommendations for the development of an active securitization of
mortgage receivables and the issuance of mortgage-backed securities.
Provide the recommendations on the role
and functions of the various government agencies providing support towards
social housing and mortgage products to ensure a more effective delivery
mechanism to meet the overall government objectives to provide affordable
housing to the social sector.
Review the existing regulatory
guidelines on the impact of securitization to financial institution portfolio, the regulatory capital
impact, the taxation impact and identify potential regulatory incentives to
promote the securitization of mortgage receivables to NHMFC and the holdings of
NHMFC instruments in financial institution portfolios;
Create a roadmap with clear
identification of roles and responsibility of the relevant stakeholders.
Provide the recommendations on the role and functions of the various government agencies providing support towards social housing and mortgage products to ensure a more effective delivery mechanism to meet the overall government objectives to provide affordable housing to the social sector.
Review the existing regulatory guidelines on the impact of securitization to financial institution portfolio, the regulatory capital impact, the taxation impact and identify potential regulatory incentives to promote the securitization of mortgage receivables to NHMFC and the holdings of NHMFC instruments in financial institution portfolios;
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