About EMF
European Mortgage Federation: Over 50 Years of Funding The Real Economy
Established in 1967, the European Mortgage Federation (EMF) is the voice of the European mortgage industry on the retail side of the business, representing the interests of mortgage lenders at European level.
The overarching aim of the EMF is to ensure a sustainable housing environment for European Union (EU) citizens. To this end, we are the key talking partner of the European Commission, the European Parliament, the Council of the EU, the European Banking Authority, the European Central Bank and the Basel Committee on Banking Supervision on all mortgage industry-related questions.
In pursuing our aim, we:
Provide data and information on European mortgage markets, which were worth over 9.1 trillion EUR at the end of 2024 (EU27 + UK, Norway and Iceland)
- Encourage the exchange of information and best practices.
- Provide up-to-the-minute specialist insight into legal, economic, funding and market-related developments;
- Respond to the EU institutions’ consultations via specialised position papers; and
- collate and publish in-depth studies and comprehensive EU-wide statistics.
Currently, the EMF has 13 Full Members across 11 EU Member States as well as a number of Observer Members.
Chairman
The EMF Chair(wo)man is nominated from amongst the members of the EMF Executive Committee for a term of two years. The EMF Chair(wo)man represents the EMF in external events.
Sergiu Oprescu, former CEO of Alpha Bank Romania, at present Chairman of the Supervisory Board of UniCredit Bank Romania, who represents the Romanian Association of Banks (ARB) vis-à-vis the European Mortgage Federation, has been appointed EMF Chairman for the mandate 2025-2026.
In this capacity, Sergiu will also serve as CBMC Vice-President for 2025 before assuming the Presidency in 2026.
Executive Committee
The EMF Executive Committee, headed by the EMF Chair(wo)man, and composed of representatives of the national mortgage markets covered by EMF Full Members is responsible for overseeing the day-to-day activities of the EMF. The Committee convenes twice a year and addresses strategy related questions. The EMF currently operates four technical committees which variously prepare position papers, research pieces and studies (see below). EMF Full Members may appoint as many delegates as they wish to each of these committees in order to ensure a broad representation of views and expertise.
Chairman: Mr Sergiu Oprescu, UniCredit Romania
Economic Affairs Committee (EAC)
The Economic Affairs Committee (EAC) is chaired by Peter Jayaswal from the Finance Denmark. The EAC examines all prudential issues with a relevance for mortgage credit. Key issues under discussion include the completion of Basel III framework, the implementation of CRR II and CRD V, the EU Legislative Framework on Non-Performing Loans, the Sustainable Agenda and Macroprudential Policies in the Real-Estate Sector.
Chairman: Mr Peter Jayaswal, Finance Denmark
Legal Affairs Committee (LAC)
The Legal Affairs Committee (LAC) is chaired by Francesca Santilli from the Italian Banking Association (ABI). The LAC focuses on all retail and consumer protection issues relating to EU mortgage markets. Key issues under discussion are the Review of the Mortgage Credit Directive (MCD), the Retail Financial Services Action Plan, together with Sustainability and Digitalisation.
Chairwoman: Ms Francesca Santili, Italian Banking Association
Research & Data Committee
The Research & Data Committee is chaired by Gyula Nagy from Takarék Mortgage Bank Plc. (Hungary). The Committee focuses on statistics and research on the EU’s housing and mortgage markets, and the issues affecting or relating to them, including demographic evolution, the profile of first-time buyers, housing supply challenges, private rental market dynamics, housing affordability etc., as well as on broader macroeconomic conditions. The Committee is responsible for the preparation of the EMF’s flagship statistical publication, Hypostat, and the Quarterly Review.
Chairman: Mr Gyula Nagy, MBH Mortgage Bank Co.plc. (Hungary)
Valuation Committee
The Valuation Committee (VALCOM) is chaired by Annett Wünsche from the vdp (The German Pfandbrief Banks). The VALCOM focuses on the valuation of property for lending purposes and on the exchange of best practice in this area. Key issues under discussion include the Review of the MCD, the completion of Basel framework, technology, including AVMs and blockchain, valuer independence and “green value”. The Valuation Committee maintains close and regular contacts with relevant stakeholders, including TEGoVA & RICS.
Chairwoman: Ms Annett Wünsche, vdp (GERMANY)
