Subprime crisis has exceeded the US territory and it has already reached the European continent. What effect will it have on mortgage business in Emerging Europe? Can we expect sharp decrease in the growth or will mortgage business continue to prosper in these markets?
You could have found answers to these questions at Jacob Fleming’s 3rd Annual Mortgage Business in CEE, SEE & CIS conference that was held in Budapest on January 17 & 18.
The first day of the event was dedicated to discussion about the balance between distribution channels and product complexity. Pascal van de Loo who works as Director of Mortgage Business Development at ING Bank Slaski has explained in detail how they have streamlined their distribution process that is strongly customer-driven. On the other side Koen Maegherman – Director of Product Management at K&H has presented marvelous case study how to effectively diversify mortgage products by proper development, innovation and by applying effective marketing strategies.
The second day was kicked off by Chris Downham – a mortgage business pioneer who is applying UK business model on the Bulgarian mortgage market. He has explained the concept of effective cooperation between lenders and mortgages brokers that he consider as crucial factor for expanding into Emerging Europe.
Then the discussion has focused on the present issues directly interconnected with subprime crisis. Francesco Dissera – Executive Director from UBS IB presented case study of first Ukraine mortgage securitisation transaction – “Ukraine Mortgage Loan Finance Plc” and Faze Ahmed – Head of Securitisation from Unicredit Capital Markets has explained challenges facing future mortgage securitisation.
The whole conference was concluded by Astrid Kratschmann – Head of Housing CEE from Erste Bank that address the particular issue of balancing efficiency for lenders and affordability for borrowers in housing finance in the CEE region.
The combination of mortgage business potential in the CEE, SEE, CIS and the ongoing subprime crisis has made this conference an excellent and very practical place for those who want to cut their piece of Emerging Europe “mortgage market pie”.
Rado Mokry
Senior Project Leader
Jacob Fleming Group
