scholarly journals Influence of Socio-Economic Factors on the Development of the Home Mortgage Lending Market: The Case of the Vologda Region

REGIONOLOGY ◽  
2021 ◽  
Vol 29 (1) ◽  
pp. 37-59
Author(s):  
Anatoly A. Volkov
Keyword(s):  
Interest Rates ◽  
Negative Impact ◽  
Banking System ◽  
Mortgage Lending ◽  
Mortgage Market ◽  
Growth Potential ◽  
Federal State ◽  
Main Function ◽  
Vologda Region ◽  
Home Mortgage

Introduction. Mortgage lending plays an important role both for the banking system and for the country’s economy as a whole. In addition to the main function of providing people with comfortable housing, mortgage system development stimulates various areas of the country's economy and creates conditions conducive for investment. The purpose of the paper is to single out the factors that have a negative impact on the home mortgage lending market on the basis of the case study of the Vologda Region. Materials and methods. The study was carried out on the basis of the statistical database of the Central Bank of the Russian Federation, data from an integrated housing development institution DOM.RF and the territorial body of the Federal State Statistics Service in the Vologda Region, as well as the Numbeo database ratings. Methods of comparison and observation, analysis and synthesis were used to study the statistics of the main indicators of the home mortgage lending market. Results. The main factors influencing the home mortgage lending market have been identified: high loan interest rates, low wages (insolvency of the client), an increase in overdue debts, high prices in the housing market, etc. The author has put forward recommendations for the development of the home mortgage lending market. Discussion and Сonclusion. The study has shown that the mortgage market in the Vologda Region has considerable growth potential and that credit institutions should work more carefully with clients, which will help to reduce overdue debts. The research materials may be useful to researchers exploring the economic issue under consideration, as well as to commercial banks, regional and local authorities that can contribute to the development of mortgage lending.

scholarly journals PANDEMIC CRISIS AND ITS EFFECTS ON BULGARIAN BANKING SYSTEM’S EFFICIENCY

2021 ◽  
Author(s):  
Gergana Mihaylova-Borisova ◽  
Keyword(s):  
Growth Rate ◽  
Interest Rates ◽  
Banking Sector ◽  
Global Financial Crisis ◽  
Negative Impact ◽  
Debt Crisis ◽  
Parametric Method ◽  
Banking System ◽  
Data Envelopment ◽  
The Global Financial Crisis

The economies are once again facing the challenges of another crisis related to the spread of coronavirus in 2020. The banking sector, being one of the main intermediaries in the economies, is also affected by the spread of the new crisis, which is different compared to the previous crises such as the global financial crisis in 2008 and the European debt crisis in 2012-2013. Still, the banking sector in Bulgaria suffers from the pandemic crisis due to decelerated growth rate of loans, provided to households and non-financial enterprises, as well as declining profits related to the narrowing spread between interest rates on loans and deposits. The pandemic crisis, which later turned into an economic one, is having a negative impact on the efficiency of the banking system. To prove the negative impact of the pandemic crisis on the efficiency of banks, the non-parametric method for measuring the efficiency, the so-called Data envelopment analysis (DEA), is used.

Barriers to accessing mortgages in Nigeria’s housing markets

2018 ◽  
Vol 11 (4) ◽  
pp. 716-733
Author(s):  
Chukwuma C. Nwuba ◽  
Eunice Oluwakemi Chukwuma-Nwuba
Keyword(s):  
Interest Rates ◽  
Housing Markets ◽  
Urban Housing ◽  
Mortgage Lending ◽  
Mortgage Market ◽  
Market Reforms ◽  
Social Implication ◽  
Cross Sectional Survey ◽  
Cross Sectional ◽  
Content Type

PurposeThe purpose of this study is to investigate barriers to accessing mortgages in Nigeria’s urban housing markets with the main focus on Kaduna State. The objective was to establish the diverse factors that constitute barriers to urban households’ access to mortgages for homeownership from the perceptions of households, mortgage lenders and the Federal Mortgage Bank of Nigeria.Design/methodology/approachThe study used cross-sectional survey with triangulation of results. To enable the triangulation, three new samples were developed from 450 surveys with households and 10 completed by lenders, both in Kaduna State and one survey undertaken by the Federal Mortgage Bank of Nigeria. Data were collected with questionnaires designed on five-point Likert model. Data analysis utilized descriptive statistics and one-samplet-test. Triangulation enabled cross-validation of the results.FindingsThe barriers include low incomes and savings which constrain households’ ability to pay mortgage instalments and deposits, respectively, high interest rates, poor access to land, inability of potential borrowers to provide certificates of occupancy on their land, inadequate loanable funds and inadequate number of mortgage lending institutions.Practical implicationsThe study has the potential to provide a basis for mortgage market reforms. Mortgage market reforms should be encompassing because it requires action in some other sectors.Social implicationsThe social implication of the study is the possibility of motivating actions to deal with the diverse barriers to accessing mortgages which have constituted deterrents to households from realizing their homeownership aspirations and enjoying the benefits of homeownership and consequently contributing to inadequate housing and poor living conditions.Originality/valueThe study provides distinctive insight into Nigeria’s mortgage market by integrating the views of various stakeholders on a subject of social and economic significance. It contributes to the evidence-base around mortgage market reforms in Nigeria.

scholarly journals ANALYSIS OF THE STATE OF CREDITING OF SMALL AND MEDIUM BUSINESS BY BANKING INSTITUTIONS OF UKRAINE IN THE CONDITION OF THE COVID-19 PANDEMIC

2021 ◽  
Vol 298 (5 Part 1) ◽  
pp. 42-46
Author(s):  
KATERINA LARIONOVA ◽  
V. TANASIENKO ◽  
Keyword(s):  
Interest Rates ◽  
Negative Impact ◽  
Small And Medium Enterprises ◽  
Banking System ◽  
Bank Lending ◽  
The State ◽  
Current Crisis ◽  
Leading Position ◽  
Banking Institutions ◽  
Medium Enterprises

Access to financial resources, especially through bank lending, is an important factor in the development of small and medium-sized businesses. SMEs need such lending due to lack of own funds, income instability, accelerated movement of working capital, locality of resources and narrow markets. Bank credit occupies a leading position in the formation of financial and investment mechanism for SME development. In the current crisis caused by the coronavirus, banks must ensure maximum access of small and medium-sized businesses to credit resources. With the stabilization of the financial situation and the reduction of interest rates to the level of profitability of SMEs, banks’ interest in their lending will be accompanied by increasing competition in this area of banking business development. The article analyzes the state of lending to small and medium-sized businesses by banking institutions of Ukraine in the context of the coronavirus pandemic Covid-19. It is established that during 2018-2020 there was a declining trend in the bank lending to small and medium-sized businesses due to the negative impact of the pandemic on the activities of small and medium enterprises. The rating of the best conditions for lending to small and medium enterprises by Ukrainian banks in 2021 is analyzed and bank lending programs are considered. It is noted that as a result of the introduction of quarantine in 2020 and other restrictive anti-epidemic measures to prevent the spread of coronavirus, the banking system has changed somewhat. The amount of government assistance to small and medium-sized businesses in a pandemic and the features of the state program of business support “Affordable loans 5-7-9%” are considered.

scholarly journals Reorganization of the technology and procedures for conducting mortgage transactions

2018 ◽  
Vol 80 (2) ◽  
pp. 473-477
Author(s):  
N. N. Kudryavtseva ◽  
Yu. V. Pakhomova ◽  
Yu. N. Duvanova
Keyword(s):  
Interest Rates ◽  
Banking Sector ◽  
Real Estate Market ◽  
Mortgage Lending ◽  
Mortgage Market ◽  
The Real Estate ◽  
Advantages And Disadvantages ◽  
Stage Of Development ◽  
Banking Activity ◽  
The Moment

The article considers the structure of mortgage lending of PJSC "VTB24", presents the functions of the Department of mortgage lending and the Department of conclusion and support of mortgage transactions. The scheme of the mortgage transaction is analyzed and its advantages and disadvantages are given. At the moment, there is a high probability of further curtailment of Bank licenses and the flow of depositors ' funds to larger banks at lower interest rates. At the same time, the Central Bank allows for a 2 – fold drop in profits from banking activities to the level of 300 billion rubles a year. At the present stage of development of the Russian economy, the banking sector is no longer experiencing a period of rapid growth, as it was a year and a half earlier. However, credit institutions continue to slowly increase the volume of lending operations, thus trying to ensure the gradual saturation of the Russian market of banking services. The growth of assets of Russian banks is based on the increase in the volume of loans granted. Lending to the economy and the population has firmly taken the place of the main type of banking activity. The most rapidly developing segment of the credit services market is lending to the population. The mortgage market should be considered as part of the interaction between the banking market, the real estate market, the insurance market and the securities market and their derivatives. The level of development of the mortgage market depends on the level of development of these markets. They are interrelated and interdependent elements of a single mortgage system in the country. In turn, the mortgage market can also be seen as a necessary element of the above markets

Analyzing the Causal Relationships Between Financial Crises and the Residential Mortgage Market

2021 ◽  
Vol 27 (8) ◽  
pp. 1773-1789
Author(s):  
Larisa I. YUZVOVICH ◽  
Mariya V. SHARAFIEVA
Keyword(s):  
Interest Rates ◽  
Financial Crises ◽  
Banking Sector ◽  
Recovery Period ◽  
Mortgage Lending ◽  
Mortgage Market ◽  
Mortgage Loan ◽  
Causal Relationships ◽  
Active Growth ◽  
Residential Mortgage

Subject. We consider the economic relations, arising in the process of the analysis of the financial and economic state of the housing (mortgage) loan market during crises. Objectives. The aim is to conduct a study within the practical concept of financial crises and the residential mortgage market, to identify cause-effect relationships. Methods. We apply analytical and expert methods, based on the analysis of residential mortgage market data and the activities of the Agency for Housing Mortgage Lending. Results. The study determines the segmented role of digitalization of the banking sector in the system of State programs intended to support the residential mortgage market. We reveal causal relationships between financial crises and the residential mortgage market on the basis of a factor analysis. Conclusions. During 2008 and 2014, the government regulation of the banking crisis was only through changing the level of the key rate. It resulted in an increase in interest rates and a decrease in demand for mortgage loans, as affordable mortgage interest rates still remain the main driver of mortgage lending for citizens. This scenario gives rise to a stagnation of the residential mortgage lending market and, consequently, a very long recovery period. In contrast to the scenario of 2020, where we see an active growth in mortgage lending against the background of the financial crisis, the reason was the implemented set of measures that triggered the growth and formed a safety cushion for the banking sector in the form of secured lending.

scholarly journals Analysis of the residential mortgage market in the Ural Federal District

R-Economy ◽  
2020 ◽  
Vol 6 (1) ◽  
pp. 5-13
Author(s):  
Ekaterina G. Zinovyeva ◽  
◽  
Natalya R. Balynskaya ◽  
Svetlana V. Koptyakova ◽  
Oksana O. Akhmetzianova ◽  
...  
Keyword(s):  
Poor Performance ◽  
Federal District ◽  
Mortgage Lending ◽  
Mortgage Market ◽  
Federal State ◽  
Mortgage Default ◽  
Lending Relationships ◽  
Residential Mortgage ◽  
Current State ◽  
The Russian Federation

The relevance of this study stems from the fact that it analyzes the current situation on the mortgage market in Russia: the influence of macro-economic factors causes a fall in collateral value, dramatic increase in mortgage default and poor performance of the Agency for Housing Mortgage Lending (AHML). The study is aimed at investigating the current state of residential mortgage lending on the regional level in Russia by focusing on the case of the Ural Federal District. The study considers the interests of all the participants of this market: individual borrowers, state authorities, financial and credit institutions engaged in mortgage lending. The study analyzes statistical data on the primary residential mortgage market in the Ural Federal District provided by the Central Bank of the Russian Federation, Federal State Statistics Service and the AHML. Results. Modern approaches to mortgage system evaluation are compared in order to identify and systematize the key criteria and statistical indicators characterizing the current state of this form of lending relationships. The analysis also brings to light the negative trends in mortgage lending in the Ural Federal District. As a part of our further research, we are going to develop a procedure for evaluating the performance of a mortgage system.

scholarly journals Mortgage Loan as the Main Tool for Solving the Housing Problem of Russia

2019 ◽  
Vol 2019 (1) ◽  
pp. 37-44
Author(s):  
Светлана Бабина ◽  
Svetlana Babina ◽  
Софья Назаренкова ◽  
Sofya Nazarenkovaa
Keyword(s):  
Capital Market ◽  
Socioeconomic Development ◽  
Historical Analysis ◽  
Main Tool ◽  
Developed Countries ◽  
Mortgage Lending ◽  
Mortgage Market ◽  
Mortgage Loan ◽  
Federal State ◽  
Housing Problem

The housing problem is extremely urgent for Russian citizens. This problem can be solved by mortgage lending in the market economy environment. The present research features the development of mortgage housing loans and identifies the existing problems in order to find ways to strengthen the mortgage capital market. The study is based on theoretical and methodological works on the theory of mortgage lending. It involves a comparative-historical analysis in the application to the mortgage capital market, as well as an analysis of the dynamic series based on statistical data of the Federal State Statistics Service, the Bank of Russia, and the Agency for Mortgage and Housing Crediting. The paper presents a retrospective analysis which makes it possible to conclude that, despite all the difficulties of socioeconomic development, mortgage lending has become an independent institution of the modern economic system of Russia. In conditions of economy stabilization, loans are becoming more affordable, and banks offer a variety of mortgage products on various terms. However, the position of the Russian mortgage market is still seriously inferior to that of developed countries. The authors propose several approaches to the development of the mortgage housing market, which may contribute to its further development and, thus, increase the role of mortgage in solving the housing problem, as well as construction volumes, production in related industries, and the Russian economy as a whole.

scholarly journals LENDING TO THE ECONOMY OF UKRAINE: CURRENT SITUATION AND DIRECTIONS OF INCENTIVES

2021 ◽  
Vol 26 (3(88)) ◽  
Author(s):  
Pavlo Ilchuk ◽  
Olha Kots ◽  
Alla Karda
Keyword(s):  
Interest Rates ◽  
Negative Impact ◽  
Banking System ◽  
State Level ◽  
The State ◽  
Investment Projects ◽  
Current State ◽  
National Bank ◽  
Strategic Goals ◽  
Business Entities

Stimulating lending to the economy today is one of the priorities of the National Bank of Ukraine. It will help to bring the economy out of stagnation, ensure GDP growth and increase welfare in the country. The article examines the current state of lending to the economy of Ukraine. A review of the scientific literature focuses on analyzing the proposals of scientists to stimulate lending. During the research, the structure and dynamics of the loan portfolio of Ukrainian banks for 2013–2021 were analyzed and the main reasons for the changes were identified. In Ukraine, the largest share of loans falls on business entities and in 2021 it is 78.04%. In 2016 this share was equal to 82.26%. The dynamics of lending to business entities largely depends on the efficiency of their activities, which is why detailed attention is focused on analyzing the efficiency of enterprises and the share of non-performing loans, which allowed identifying the cyclical nature of these processes. Currently, the problem of unprofitable enterprises is not the only obstacle to the full development of lending, a large proportion of non-performing loans also has a negative impact. Detailed attention was focused on the interest rates dynamics analysis and it was found that for loans to business entities there was a constant decrease in interest rates on all types of loans in accordance with their terms. In order to stimulate lending to the economy, it is necessary to reduce all interest rates, not just interest rates on loans to business entities, as lending to individuals also contributes to economic growth. The main directions of stimulating lending to Ukraine’s economy have also been formed, which, first of all, should take place at the state level through the implementation of monetary policy aimed at keeping inflation within the target, ensuring transparency of the banking system and its regulation, state participation in large investment projects, reducing the tax burden provided that the business entities which implement innovative projects aimed at achieving strategic goals of the state, such as greening and digitalization of public life and business.

CHANGES IN THE GENEALOGICAL STRUCTURE OF THE BREEDING STOCK OF THE YAROSLAVL BREED IN THE VOLOGDA REGION

2020 ◽  
pp. 24-29
Author(s):  
N.I. ABRAMOVA ◽  
G.S. VLASOVA ◽  
O.L. KHROMOVA
Keyword(s):  
Protein Content ◽  
Negative Impact ◽  
Breeding Stock ◽  
Holstein Breed ◽  
Vologda Region ◽  
Ideal Line ◽  
Productivity Potential ◽  
New Generation ◽  
Modern Population ◽  
Positive Effect

Проведен сопоставительный анализ генеалогической структуры племенного поголовья ярославской породы Вологодской области по данным 2005 и 2018 годов. Установлено, что в 2005 году в структуру породы входили 8 отечественных генеалогических линий. В результате скрещивания с голштинской породой произошли значительные изменения. Доля животных, принадлежащих к линиям ярославской породы, уменьшилась со 100% в 2005 году до 35,3% в 2018 году. В генеалогическую структуру современной популяции добавились 3 линии голштинской селекции, к которым на 1.01.2019 года относится большая часть маточного поголовья: к линии Рефлекшн Соверинга 198998 — 42,9%, Вис Бэк Айдиала 1013415 — 13%, Монтвик Чифтейна 95679 — 8,8%. Скрещивание с голштинской породой оказало положительное влияние на повышение молочной продуктивности животных ярославской породы. Средний надой на 1 корову увеличился на 1670 кг молока, доля коров с продуктивностью более 6000 кг молока выросла на 35%. В результате расчета корреляционной зависимости между кровностью по голштинской породе и массовой долей жира и белка в молоке установлено, что скрещивание не ухудшило качественные показатели молока коров ярославской породы (степень кровности с МДЖ — r=-0,01; с МДБ — r=0,09; P<0,01), но в то же время отразилось отрицательно на продолжительности хозяйственного использования животных в стаде (r=-0,27; P<0,001). Для дальнейшего совершенствования породы следует определить оптимальную степень прилития крови голштинской породы. А с целью сохранения генофонда необходимо получение нового поколения чистопородных быков ярославской породы с более высоким потенциалом продуктивности. The authors conduct a comparative analysis of the genealogical structure of the breeding stock of the Yaroslavl breed in the Vologda region on the basis of the data for 2005 and 2018. It is established that in 2005 the structure of the breed included 8 domestic genealogical lines. As a result of the crossing with the Holstein breed, significant changes occurred. The share of animals of the Yaroslavl breed lines decreased from 100% in 2005 to 35.3% in 2018. The genealogical structure of the modern population got 3 added lines of the Holstein selection which as of 1.01.2019 include most of the breeding stock: Reflection Sovering line 198998 - 42.9%, Vis Back Ideal line 1013415 - 13%, and Montwick Chieftain line 95679 - 8.8%. The crossing with the Holstein breed had a positive effect on the increase in the milk productivity of the Yaroslavl breed animals. The average milk yield per 1 cow increased by 1670 kg of milk and the share of cows with the productivity of more than 6000 kg of milk increased by 35%. The results of the calculations of the correlation between the Holstein thoroughbredness and the fat and protein content in the milk showed that the crossing did not impair the quality indicators of the milk the Yaroslavl breed cows (thoroughbredness degree with the fat content r=-0.01; with the protein content r=0.09 P<0.01), but at the same time had a negative impact on the duration of the economic use of the animals in the herd (r=-0.27; P<0.001). For further improvement of the breed, there is a need to determine the optimal degree of crossing with the Holstein breed. Also, in order to preserve the gene pool, there is a need to obtain a new generation of purebred bulls of the Yaroslavl breed with a higher productivity potential.

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