It's A Wrap

It's A Wrap

Structured Finance

Mexican housing finance company GMAC Financiera is to issue the first mortgage-backed securities (RMBS or Borhis) to carry a full wrap. The issue, due to be launched today, Thursday, will be denominated in inflation-indexed investment units (UDIs), divided into two series, totaling 194 UDIs ($68 million). The securities are backed by financial guarantees issued by Financial Guaranty Insurance Company (Figic) of the US, showing the growing interest in Mexico's domestic MBS market by international

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