On the sidelines of the SiLAS 2010, ASR's Felipe Ossa had a conversation with Ignacio Farias, CEO of Patrimonio, a housing finance company in Mexico. Belonging to the group of recently beleaguredbeleaguered nonbank entities known as Sofols, Patrimonio has seen its mortgage originations fall by half so far this year, and that was from an already dismal 2009.

The crisis has not been kind to Patrimonio. Farias held forth on its impact, the efforts to by regulators to jump-start the sector and what future securitization holds for his company.

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