Over the last several months, housing finance in Mexico has ceded the spotlight to other securitization sectors like sub-nationals and toll roads. But it is creeping out of the shadows, as the nuts and bolts are nearly in place for an MBS market. A trip to the cross-border, some say, is not far behind, though longstanding hurdles will be tough to topple.

Joint leads UBS Warburg and BBVA Bancomer are putting the finishing touches on a Ps5 billion (US$470 million) program for Infonavit, an agency that lends to low-income borrowers, sources said. Initially heard as a structurer of the deal, Deutsche Bank has co-manager status. Regulators have reportedly given their OK.

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