NEW YORK - The nascent RMBS market in Mexico has stirred interest in upstream activities like co-financing between private and state-owned originators, risk-based mortgage lending and credit scoring. These topics formed part of a lively discussion at Moody's Investors Service sixth annual Latin American Securitization Briefing' held here Sept. 23.
Jose de Jesus Gomez, director of planning at state agency Infonavit, was on hand to tout co-financing arrangements, in which Infonavit and private mortgage lenders known as Sofols pair up to finance a single home purchase. "We launched this in September of last year and have originated 25,000 so far this year," Gomez said. He projected that the origination of co-financing loans could hit 75,000 in 2006.