Colombia's main mortgage securitizer is set to chip away at the mountain of non-performing loans that has burdened the country's banks since the '90s. Roughly a year after announcing its plans, Titularizadora Colombiana expects to issue the country's first NPL-backed deal within the next two months. "In terms of envisioned structure and regulations, we're pretty much done," said Mauricio Amador, vice president of Titularizadora. The size of a senior tranche is projected to be no less than Ps150 billion (US$56 million), with a hefty subordinated piece.

The denomination will be in UVRs, an inflation index widely used for mortgages.

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