Following a similar path to the United States in the development of a securitization market, Chile has pumped out a record-breaking amount of mortgage-backed securities deals this year, and is moving forward to a plush credit card market in 2002.

After the implementation of the securitization law in 1999, the domestic MBS market has picked up in Chile. Beginning in 1996, there was one MBS deal a year until 1999. In 2000, there were two deals, in 2001 there were six deals and so far this year, there have been eight, and two more are expected to close before year-end.

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