For quite some time, it's been a whole lot of talk and no action when it comes to securitization in Brazil. However, for the first time ever, Brazil will endure a true mortgage-backed securities deal, paving the way for a secondary mortgage market in the country.

Brazilian Mortgages, a newly created mortgage entity, will structure a financial program aimed to develop the low and medium-income residential segments and the secondary mortgage market in Brazil through Brazilian Securities, a special purpose vehicle.

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