Having completed its fifth RMBS last week, Titularizadora Colombiana has, to date, securitized slightly more than Ps3 trillion ($1.2 billion) in mortgages. Colombia's leading mortgage securitizer sold Ps370 billion in RMBS on Nov. 18, at an average weighted yield of 3.8% plus the UVR inflation index.
As in the first four transactions, Fitch Ratings affiliate Duff & Phelps and stand-alone agency BRC Investor Services rated the deal triple-A on the national scale. Roughly 40% of the pool consists of social-interest loans, which carry an implicit guaranty from the government. The other 60% bear a nominal guaranty from the International Finance Corp., which has participated in the previous RMBS.