Workshop 2: "Housing Matters: Mortgage Lending in an Era of Unprecedented Prices, Lending and Risk" paper by Manfred Westphal Although most EU mortgage markets have been expanding rapidly in recent years these markets remain very diverse; these differences in mortgage and housing markets reflect Member States’ attitude to regulation, economic history and cultural factors. The markets are not very integrated, notably in relation to the range of available products and cross-border mortgage activity. The level of direct crossborder sales is low, less than 1% of overall residential mortgage credit activity. According to the Commission and their study the potential benefits of an integration could be: (Please read the paper by Manfred Westphal attached) ID: 37249 Author(s): iff Publication date: 28/04/06     Opinion on the Green Paper Mortgage Credit and the next steps - Abstract contributed by Manfred Westphal (17152 Bytes)

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