After contracting sharply last year amid regulatory uncertainty and an economic slowdown, Brazil’s structured finance market now appears to be poised for a recovery.

Issuance of Certificados de Recebíveis Imobiliários (CRIs), Brazil’s version of mortgage-backed securities (MBS), fell by about one third in 2012 to R$9.5 billion from R$13.5 billion in 2011, according to financial research firm Uqbar.

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