As government agencies both in the U.S. and abroad seek to develop and refine housing-finance mechanisms in emerging markets, 2001 may turn out to be the year for securitization in Latin America to swing into full bloom, sources say.

Last week, market participants reportedly were "hoping" to close an ongoing Costa Rican MBS deal by February 2001, with two smaller, less-developed deals from the same country rumored to be launching at the same time. Additionally, ideas of developing the secondary mortgage market have also been brewing in Nicaragua, Honduras and the Dominican Republic for quite some time (ASRI 5/8/00).

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