Download or read book Housing Finance and Mortgage Backed Securities in Mexico written by Marco A. Espinosa-Vega and published by . This book was released on 2015 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the Mexican experience with the securitization of residential mortgages. It highlights the key legislative and institutional reforms leading to the development of primary and secondary mortgage markets and reports the main features and valuation practices of the RMBS markets. The paper identifies areas warranting close attention to improve the outlook for the Mexican RMBS market and draws some lessons from the recent U.S. subprime mortgage market problems.
Download or read book Housing Finance and Mortgage Backed Securities in Mexico written by Marco Espinosa-Vega and published by INTERNATIONAL MONETARY FUND. This book was released on 2008-04-01 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the Mexican experience with the securitization of residential mortgages. It highlights the key legislative and institutional reforms leading to the development of primary and secondary mortgage markets and reports the main features and valuation practices of the RMBS markets. The paper identifies areas warranting close attention to improve the outlook for the Mexican RMBS market and draws some lessons from the recent U.S. subprime mortgage market problems.
Download or read book IMF Working Papers written by Marco Espinosa-Vega and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Mexico written by International Monetary Fund and published by International Monetary Fund. This book was released on 2007-05-15 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a technical note on Mexico’s Financial Sector Assessment Program update. The Sociedad Hipotecaria Federal has successfully led a range of direct policy measures that have stimulated the development of the housing finance market. The government improved the legal environment for mortgage finance by passing reforms that reduced the average time to foreclosure from five years to two, by facilitating the reform of several state property registries and by facilitating mortgage securitization.
Download or read book Housing Finance Mechanisms in Mexico written by Jose Luis Valencia and published by UN-HABITAT. This book was released on 2011 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book International Encyclopedia of Housing and Home written by and published by Elsevier. This book was released on 2012-10-09 with total page 3870 pages. Available in PDF, EPUB and Kindle. Book excerpt: Available online via SciVerse ScienceDirect, or in print for a limited time only, The International Encyclopedia of Housing and Home, Seven Volume Set is the first international reference work for housing scholars and professionals, that uses studies in economics and finance, psychology, social policy, sociology, anthropology, geography, architecture, law, and other disciplines to create an international portrait of housing in all its facets: from meanings of home at the microscale, to impacts on macro-economy. This comprehensive work is edited by distinguished housing expert Susan J. Smith, together with Marja Elsinga, Ong Seow Eng, Lorna Fox O'Mahony and Susan Wachter, and a multi-disciplinary editorial team of 20 world-class scholars in all. Working at the cutting edge of their subject, liaising with an expert editorial advisory board, and engaging with policy-makers and professionals, the editors have worked for almost five years to secure the quality, reach, relevance and coherence of this work. A broad and inclusive table of contents signals (or tesitifes to) detailed investigation of historical and theoretical material as well as in-depth analysis of current issues. This seven-volume set contains over 500 entries, listed alphabetically, but grouped into seven thematic sections including methods and approaches; economics and finance; environments; home and homelessness; institutions; policy; and welfare and well-being. Housing professionals, both academics and practitioners, will find The International Encyclopedia of Housing and Home useful for teaching, discovery, and research needs. International in scope, engaging with trends in every world region The editorial board and contributors are drawn from a wide constituency, collating expertise from academics, policy makers, professionals and practitioners, and from every key center for housing research Every entry stands alone on its merits and is accessed alphabetically, yet each is fully cross-referenced, and attached to one of seven thematic categories whose ‘wholes' far exceed the sum of their parts
Download or read book Journal of Housing Research written by and published by . This book was released on 1994 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Structured Finance in Latin America written by Hela Cheikhrouhou and published by World Bank Publications. This book was released on 2007 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: Structured Finance in Latin America explores how structured finance mechanisms can channel pension savings to support projects in underserved sectors, deepen capital markets, and contribute to investment and economic growth. Private pension funds have been accumulating assets rapidly in the wake of pension system reforms in many Latin American countries. Strict investment regulations to protect workers' savings have limited their investment in highly creditworthy domestic securities, yet pension fund demand for new securities has outstripped issuance of eligible traditional corporate debt instruments. This has contributed to a high concentration of pension fund assets in public debt. Innovative structured finance mechanisms can help bring to the market a new set of creditworthy securities backed by pools of loans to small borrowers, mortgage loans or the expected proceeds of large infrastructure projects. These mechanisms create new investment opportunities for pension funds, while establishing additional sources of funding for underserved market segments. Policy makers and regulatory authorities have a catalytic role to play in the development of structured finance securities by establishing a conducive legal, regulatory, and tax framework. Structured Finance in Latin America serves as a practical guide for development practitioners, policy makers, and others working in government, international or nongovernmental organizations, and financial institutions, who focus on finance and investment; infrastructure, transport, and urban development; housing finance; small and medium-sized enterprise development; and pension reform.
Download or read book Housing Finance in Mexico written by Marco A. López-Silva and published by . This book was released on 2011 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes a large database provided by INFONAVIT, Mexico's principal mortgage issuer, which contains information on borrowers' repayment behavior. It finds that borrowers who received subsidies do not show higher default rates than borrowers who received no financial assistance. Borrowers receiving subsidies actually take longer to show their first default than borrowers not receiving subsidies. Therefore, current subsidy programs do not seem to have negative financial implications for participating mortgage institutions.
Download or read book Housing Finance in Mexico written by Marco Lopez-Silva and published by . This book was released on 2015 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes a large database provided by INFONAVIT, Mexico's principal mortgage issuer, which contains information on borrowers' repayment behavior. It finds that borrowers who received subsidies do not show higher default rates than borrowers who received no financial assistance. Borrowers receiving subsidies actually take longer to show their first default than borrowers not receiving subsidies. Therefore, current subsidy programs do not seem to have negative financial implications for participating mortgage institutions.
Download or read book Mexico Housing Finance Project loan 2947 ME Project Completion Report written by World Bank. Latin America and the Caribbean Regional Office. Country Dept. II. Infrastructure and Energy Division and published by . This book was released on 1994 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Mexico written by International Monetary Fund and published by International Monetary Fund. This book was released on 2006-10-11 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: Policies implemented over the last decade have strengthened economic fundamentals and brought macroeconomic stability. Major improvements in compliance with the Basel Core Principles for Effective Banking Supervision and the implementation of International Organization of Securities Commission Principles and Objectives of Securities Regulation have been taken up. Significant progress regarding the banking safety net and evaluation of antimoney laundering practices in Mexico are under way. The key remaining challenges are to further entrench stability and to promote wider and more efficient private sector access to financing.
Download or read book Housing Finance in Emerging Markets written by Doris Köhn and published by Springer Science & Business Media. This book was released on 2011-01-21 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: The growth of urban areas and population in middle and low income countries is a continuing trend. Urbanization expands as rural to urban migration offers better income opportunities in cities. This trend is both a source of development opportunities and challenges for the housing sector. On the one hand, housing is a large and growing market, and on the other, massive slums confirm the poor housing conditions in many developing countries. These adverse conditions mirror inadequate housing policies, inefficient or absent property registration, as well as limits to access to housing finance. Provision of affordable housing is therefore an important topic in the fight against poverty. This book focuses on solutions that improve the enabling environment for the poor in accessing housing finance. It explores how to develop and integrate housing finance into a sustainable financial system for developing countries and offers ways in which low-income families can obtain better access to housing finance. This book provides a conceptual framework for housing finance development and addresses practical solutions in the provision of housing finance and compares different approaches.
Download or read book Financial Development in Latin America and the Caribbean written by Augusto de la Torre and published by World Bank Publications. This book was released on 2011-11-30 with total page 279 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial systems of Latin America and the Caribbean (LAC) have been widely resilient to the global financial crisis, which reflects strong progress in both macroeconomic management and prudential oversight. However, the current juncture provides a unique tapestry upon which this book examines several key questions and challenges looking forward. Does LAC continue to underperform on some key financial development indicators and, if so, why? How can LAC's financial systems contribute more effectively to the region's welfare and growth? How can LAC secure the benefits of deepening financial development while avoiding the fault lines that recently burst to the surface in other parts of the world?
Download or read book The History and Evolution of the Residential Mortgage Market in Mexico written by Marcela Fernandez Martinez and published by . This book was released on 1998 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Fixing the Housing Market written by Franklin Allen and published by Pearson Prentice Hall. This book was released on 2012 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explains the financial history leading to the mortgage meltdown and assesses today's housing finance systems in the United States and abroad.
Download or read book Housing FinanceMexico Financial Sector Assessment Program written by International Finance Corporation World Bank Group and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Housing needs are high in Mexico despite quantitative progress in the last 10 years. Global data hide mismatches between housing demand and supply. First, urban growth relied for a long time on a pattern of urban sprawl, with mass-scale developments of individual units were built outside cities where land is affordable, but far from jobs and services and with related high transportation cost. Second, the housing shortage affects some household categories more than others. The housing finance system has been contributing to these mismatches. The way the two housing provident funds that dominate the mortgage market used to function was an inducement to the urban sprawl pattern. On the supply side, they were acting as demand aggregators for developers, warrantying that projects would meet the effective demand of purchasers qualified to borrow mortgage loans, and would thus avoid market risk largely irrespective of the location of the projects. On the demand side, households were incentivized to take out loans at below market conditions to which they were entitled once in their lifetime. The new policy was outlined in February 2013, and two national 2014-2018 Programs for Urban development and Housing were approved in 2014. Housing finance has a critical role to play to support a more balanced urban development and to help improve living conditions. The growth of the market size despite the stability of the number of loans suggests that better, higher priced housing has become affordable to more households. The improvement of lending conditions also increased the affordability of finance. The macro-economic context allowed the desindexation of housing finance, a major change relatively to the 20-year period delimited by two financial crises. The mortgage Sofoles /Sofomes sector largely disappeared following the 2008-2009 financial crisis. An amendment to the General Law of Credit and Auxiliary Organizations and Activities removed the category of Sofol. SHF reoriented its activities following the demise of the Sofoles/Sofomes, without a totally clear systemic justification in some cases. On the primary market, since the disappearance of most of the sector, SHF only refinanced new mortgages for only MXN 5.3 billion in 2015 (out of about MXN 300 billion total originations). This growth has been partially driven by changes in the market structure. Two factors have played a special role in this growth: (i) the demise of Sofoles/Sofomes, since several of them were bought by banks and are now consolidated with them; (ii) the success of the lending in partnership with the Institutes. In addition, several new comers entered the mortgage market in the last 10 years, including Inmobiliaro Mexicano or ABC Capital. Still, the overall market development is largely due to the growth strategy of three lenders. These entities face several obstacles: (i) gaps that still exist in the property rights (persisting ejido land tenure for instance) and registration systems in the geographic areas - small cities, rural areas- where these institutions are active, which prevent them from securing loans as would be required by long term credit; (ii) regulatory maturity restrictions: up to 5 and 8 years for SOCAPS and Sofipos of categories I and II respectively. These limits are however lifted if housing loans are funded by SHF, the case for only a minority of institutions; (iv) insufficient operational capacities to lend medium or long term loans for housing; and (v) long term funding.
