What Credit Logement does

Crédit Logement is a French Société Anonyme headquartered in Paris, founded in 1975 as a specialist provider of residential mortgage loan guarantees, currently employing 324 staff. The company's guarantee is a regulated alternative to traditional mortgage collateral (hypothèque) and covers approximately one in three French residential mortgage loans, distributed exclusively through a network of more than 200 banking partners across metropolitan France and overseas territories (New Caledonia, French Polynesia, the Caribbean, Réunion, Mayotte). The business is privately held by its banking shareholders, with a registered share capital of €1,259,850,270, regulated as a Société de Financement by the ACPR, and rated Aa3 (Moody's) and AA low (DBRS).

The core product, Garantie Crédit Logement, is a mutualized risk-sharing mechanism backed by a €7.1 billion Fonds Mutuel de Garantie (FMG). Two pricing formulas are offered: Classic (commission de caution plus FMG contribution paid upfront) and Initio (for borrowers aged 18–36, with the commission deferred to loan maturity). FMG contributions are partially restituable to borrowers at loan maturity, currently at ~71.65%. The underlying technology stack is centred on an automated decision engine (Système d'accord automatique) that returns real-time approvals on more than 54% of submissions and 48-hour decisions on the balance, integrated into partner banks' loan-origination systems via EDI flux and a dedicated extranet (CRELOG.com). The company has also built two monetizable data products: CL.Data (mortgage credit-rate analytics on the 310,000+ operations guaranteed annually) and CL.Estim (property valuation integrating DPE energy ratings and climate risk). L'Observatoire Crédit Logement/CSA, in partnership with the CSA Institute since 2008, publishes monthly and quarterly market data that has become a French mortgage-market reference.

Crédit Logement generates revenue from three streams: (1) the non-refundable caution commission paid by the borrower at origination; (2) the FMG contribution, a partially refundable transaction fee that funds the mutual guarantee pool; and (3) financial income from investing the €7.1B FMG and €8.6B regulatory capital. In FY2024 this produced €207.3M of net banking income (up 21.3% YoY) and €111.2M of net income (up 7.2% YoY), with €55.7B of new guarantees issued (up ~21% YoY) and an outstanding guaranteed portfolio of €416B. The credit profile is conservative, with a 0.43% NPL ratio, 0.19% default rate, 14.47% solvency ratio, and 29% cost-to-income ratio. Since 2020 the company has also been the first institution to guarantee Bail Réel Solidaire (BRS) loans, supporting below-market social-housing finance, and in 2024 launched a specific Garantie Copropriétés product for energy renovation works in condominiums.

Name

Credit Logement

Legal name

Crédit Logement

Website

https://creditlogement.fr

Company type

Private

Founded year

1975

Operating status

Operating

Headcount range

101–250 employees

Short description

Crédit Logement is a Paris-based, ACPR-regulated specialist in French residential mortgage guarantees, distributing exclusively through 200+ partner banks and covering approximately one in three French mortgage loans with a €416B outstanding guaranteed portfolio.

Ownership category

akta.pro rank

Product category

Residential Mortgage Guarantee

NAICS

Other Nondepository Credit Intermediation (52229)

SIC

Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Government Mortgage Insurance & Guarantees (FHA/VA/USDA and equivalents) (FSALAJAC)

Keywords

• Residential mortgage guarantees
• Loan guarantee services
• Mortgage credit analytics
• Property valuation tools
• Credit insurance services

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Caution Commission (Commission de Caution): A non-refundable fee charged to the borrower at loan origination in exchange for the guarantee. The commission is calculated as a percentage of the loan amount, is capped per loan, and is retained by Crédit Logement as primary remuneration for its guarantee service. Revenue is recognized at loan inception.
2. Fonds Mutuel de Garantie (FMG) Contributions: A portion of the upfront guarantee fee is paid into the mutual guarantee fund. This FMG is used to cover defaults. Part of FMG contributions (currently ~71.65%) is returned to borrowers at loan maturity (restitution de mutualisation), creating a partial recurring refund dynamic. The remaining FMG pool generates investment income that contributes to overall financial performance.
3. Financial Income on FMG and Regulatory Capital: Financial income from investment of the FMG (€7.1 billion) and regulatory capital (€8.6 billion) generated €207.3 million in net banking income in 2024, up 21.3% year-on-year. This represents a significant and growing revenue stream derived from asset returns on the company's large guarantee fund.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

Crédit Logement provides residential mortgage loan guarantees as an alternative to hypothèque, securing French banks against borrower default through a mutualized risk-sharing mechanism (Fonds Mutuel de Garantie). The guarantee is distributed exclusively through 200+ partner banks to individual borrowers, covering approximately 1 in 3 French mortgage loans. Supporting professional tools include the CRELOG.com extranet, automated decision engine, CL.Data analytics, and CL.Estim property valuation with green data integration.

Product overview

Crédit Logement operates as a mortgage loan guarantee specialist offering a unified core product (Garantie Crédit Logement) backed by a mutual guarantee fund, supplemented by a suite of digital tools and specialized formulas. The portfolio comprises: the core guarantee product (Garantie Crédit Logement) covering residential mortgage loans; two complementary data/valuation solutions (CL.Data for credit rate analysis and CL.Estim for property valuation with green data integration); the CRELOG.com extranet for partner bank dossier management; an online guarantee cost simulator; two pricing formulas (Classic for all borrowers and Initio for under-37s); the Observatoire market research partnership with CSA; and the L'Info newsletter. The company is regulated by ACPR as a Société de Financement and is recognized under Basel III.

Differentiator

Problem solved

Functional benefit

Brands

• CL.Data: Data platform for analyzing real estate credit rates in France
• CL.Estim
• CLR Servicing
• CRELOG.com
• L'Observatoire Crédit Logement / CSA
• L'Info par Crédit Logement

Products and services

• Garantie Crédit Logement (Mortgage Loan Guarantee) The core residential mortgage loan guarantee that secures French banks against borrower default. Operates as a mutualized risk-sharing mechanism through the Fonds Mutuel de Garantie (FMG), covering one in three French mortgage loans. Provides banks with a Basel III-recognized guarantee equivalent to real collateral, enabling SFH and covered bond refinancing. Includes full recovery management in case of default.
• CL.Data Subscription-based business intelligence tool providing analysis of real-time mortgage credit rates based on data from over 310,000 guaranteed loan operations per year. Features 11 criteria for segment analysis, with data refreshed twice monthly covering 13 months of history. Used by partner banks for rate piloting and market intelligence.
• CL.Estim Real estate valuation solution integrating property estimates with green data (DPE energy performance ratings and climate risks). Uses two complementary methodologies covering all French territories including overseas and Alsace-Moselle, delivering unit-level and portfolio-level valuations via a web interface. Used by partner banks for portfolio risk management.
• CRELOG.com Extranet Platform Web-based platform for partner banks to submit guarantee requests, track dossier status, access documentation, communicate with client service, and manage recovery cases. Integrates with banks via EDI flux for automated dossier transmission and decision return.
• Garantie Copropriétés (Condominium Guarantee) Dedicated guarantee product for financing energy renovation works in condominiums, supporting homeowner associations (copropriétés) in undertaking green renovation projects on collective residential properties.

Quantifiable outcome

• Guarantee approval decisions in ≤48 hours (or real time for 54%+ of requests), enabling fast loan drawdowns.
• +5 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature5 records

Partnerships

Five partnerships are on record, tiered core, minor and growing.

• L'Observatoire Crédit Logement / CSAcoreStrategic or Co-development Partner · 1 January 2008A long-standing joint research partnership (since 2008, 15 years as of 2023) between Crédit Logement, the CSA Institute, and Professor Michel Mouillart. Produces monthly and quarterly market data on French mortgage rates, durations, and production volumes. The Observatory's methodology uses Crédit Logement's data as a statistically representative sample, with redressement by CSA, following practices similar to INSEE and Kantar. Outputs are widely followed by press and sector actors as a key industry reference.
• GreenlyminorOthersGreenly is a climate accounting platform that assessed Crédit Logement's carbon footprint. For 2023, Crédit Logement achieved a Silver medal (top 15% globally). Greenly's assessment covered emissions including those related to employee commuting, identified improvement areas, and framed the company's climate strategy.
• Plateforme VendrediminorOthersCrédit Logement partners with the Vendredi platform to enable employees to support personal social causes — such as anti-discrimination initiatives and education promotion — as part of the company's broader CSR and civic responsibility commitments.
• Organismes Fonciers Solidaires (OFS) / 88 OFS organizationsgrowingStrategic or Co-development Partner88 Organismes Fonciers Solidaires (OFS) have been established in France. Crédit Logement was the first institution to commit to guaranteeing BRS (Bail Réel Solidaire) loans since 2020, enabling households to purchase housing ~30% below market price by separating land and building ownership. 4 banking groups have signed distribution conventions with Crédit Logement for BRS products.
• Over 200 French banking partners (distribution network)coreChannel Partner/ Reseller/ DistributorThe primary distribution ecosystem. Over 200 banking institutions in France and overseas territories distribute Crédit Logement's mortgage guarantee to their borrowers. Partners include major retail banks (Crédit Agricole, BNP Paribas, Société Générale, LCL, Crédit Mutuel, CIC), online banks (Boursorama, Fortuneo, Monabanq, BforBank, Orange Bank), and overseas institutions. Crédit Logement applies identical pricing to all partners and provides them with EDI integration, CRELOG.com extranet, and professional tools (CL.Data, CL.Estim).

Scale indicators19 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• CNP Assurances: Major French life and personal risk insurer (with La Banque Postale and Caisse des Dépôts shareholding) that operates a caution/guarantee business alongside its broader insurance portfolio. Offers comparable credit enhancement products but as part of a much wider suite.
• Arch Capital Group (Arch MI): Bermuda-domiciled specialty insurer and reinsurer with a US-focused mortgage insurance arm (Arch MI). Comparable in business model (mortgage credit enhancement) but operating across multiple specialty insurance lines globally.

Regional players

• Radian Group: US-based private mortgage insurance and mortgage services company. Comparable to Crédit Logement in providing credit enhancement on residential mortgages, but US-only with a different distribution model (direct to mortgage lenders).
• NMI Holdings (National MI): US private mortgage insurance underwriter that launched in 2013. Closely comparable in business model to Crédit Logement (residential mortgage credit enhancement), but operates in the US with MI policies distributed through mortgage lenders.
• Essent Group: US private mortgage insurer (Essent Guaranty) providing MI on residential mortgages. Direct comparable in product and function to Crédit Logement's guarantee activity, though operating in the US market with US GSE-driven MI framework.
• MGIC Investment Corporation: One of the largest US private mortgage insurers, providing MI on residential mortgages. Closely comparable business model to Crédit Logement's caution activity, though operating exclusively in the US with different regulatory structure.
• Genworth Financial: Leading US private mortgage insurance (MI) provider, comparable in business model (private mortgage default guarantee) to Crédit Logement but operating in the US market with MI through Genworth Mortgage Insurance.

Direct peers

• SACCEF (Société d'Assurance et de Cautionnement Crédit Foncier): Crédit Agricole group subsidiary and one of the historic French mortgage guarantee specialists. Competes head-to-head with Crédit Logement for distribution through Crédit Agricole regional banks and other French lenders.
• CEGC (Compagnie Européenne de Garanties et Cautions): Société Générale group subsidiary providing mortgage loan guarantees (cautions) in France. Direct competitor to Crédit Logement, distributing through banking partners with a comparable Basel III-recognized guarantee product.

Others

• AXA: Global insurance leader that has historically participated in French mortgage guarantee and creditor insurance activities (AXA Banque, AXA France IARD). Adjacent comparator: not a direct mortgage guarantee specialist, but a major French financial incumbent with overlapping distribution and risk management capabilities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights10 records

Customer concentration

• Xx.com/CreditLogement
• YouTubeyoutube.com/creditlogement
• Facebookfacebook.com/credit.logement/?locale=fr_FR
• LinkedInlinkedin.com/company/credit-logement/?originalSubdomain=fr

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Credit Logement