Cross-Border MBS Rises

Cross-Border MBS Rises

Structured Finance

Cross-border MBS volume rose 109% in 2007 to $3.15bn due in large part to the pickup in internationally offered Mexican MBS. A number of issuers tapped offshore markets for the first time for a combined $591m, according to Moody’s. Mortgages were the second most-common asset type to be securitized in LatAm’s domestic markets in 2007. Cross border issuance is, however, vulnerable to the sub-prime mortgage credit crisis in the US, says Moody’s. "A relatively more hostile credit environment for Lat

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