Following almost a year of planning and structuring, Guatemala's state-owned mortgage guarantor, FHA, closed the country's first mortgage-backed securitization.

The transaction, which totaled 1.1 million Guatemalan Quetzal (approximately $140,000) and featured a 12.5% coupon, was managed by Grainai & Townson Corp. The notes were backed by mortgages that carry FHA's guarantee and were sold to local pension funds and institutional investors.

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