Financial Services Experience

Alongside of MultiNational Strategies, Delphos devised a business plan for a mortgage vehicle that would acquire mortgage bonds or pools of mortgages from bank or other mortgage originating institutions in SEE countries in 2004/5. Prompted by USAID’s SEE Mortgage Market Conference in 2003, the Study explores and attempts to address a number of issues highlighted in the Conference, such as maturity mismatch in the funding of mortgages, the inadequacy (in terms of supply and matched tenor) of local funding sources and the importance of standardizing regional mortgage origination practices in order to accelerate primary and secondary mortgage market development. The study focuses on three countries in Southeast Europe—Bulgaria, Croatia and Romania where the mortgage market was most developed at the time.