Issuer Presentation - Nykredit
Issuer Presentation - Nykredit
Issuer Presentation - Nykredit
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Strict underwriting standards<br />
Real estate<br />
Borrower<br />
Legal and<br />
policy<br />
•On site appraisal of all properties – maximum LTV determined by law<br />
•Banks have access to detailed property data from public registers<br />
•Land registry data, house price data and local knowledge<br />
•Mortgage bank lending is stringently regulated by the Danish FSA<br />
•Sophisticated proprietary credit scoring model (no FICO in Denmark)<br />
•<strong>Nykredit</strong> demands household budget, payslips and income tax returns<br />
•Customer must be able to afford fixed-rate 30Y amortising loan<br />
•Negative credit register check (Experian)<br />
•Borrowers are personal liable for mortgage loans<br />
•No financing of speculative buying – credit approval always based on<br />
ability to service debt<br />
•Standard documentation eliminates legal uncertainty<br />
•Flawless title and mortgage registration guaranteed by the government<br />
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