Mexico Preps for Fannie Mae

Mexico Preps for Fannie Mae

Mexico

Mexico's federally owned Sociedad Hipotecaria Federal (SHF) laid the groundwork for its evolution into a federal mortgage lending agency in October, when it partially guaranteed a $50 million securitization of bridge loans for private sector real estate development financing company Metrofinanciera. The guarantee enables Metrofinanciera to reduce its dependence on financing from SHF and cultivate local institutional investors. This in turn should cut its financing costs and enable it to lend more competitively to real estate developers. J. Armando Guzmán, executive director of Metrofinanciera, says the transaction represents a significant step toward SHF's entering the local debt ma

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