Fideicomiso Hipotecario (FHipo), dedicated to administering and managing mortgage portfolios in Mexico, prepares the securitization of loans for housing with the purpose of collecting up to 2,500 million pesos through the Institutional Stock Exchange (BIVA).

The sale of the securities is expected to take place on May 26 and the issuance will have a term of 30 years, anticipating offering a fixed interest rate. Likewise, it will have an initial and required capacity of 14 percent.

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"Through this operation, mortgage loans will be securitized among the investing public," state the request for said operation.

"With these securitizations, FHipo seeks to continue supporting Mexican workers through the acquisition and financing of the mortgage portfolio and, at the same time, generate higher returns to investors' capital," said Daniel Braatz, CEO of the firm.

The collection rights portfolio that this issuance intends to support included 5,207 mortgage loans until last April, with an unpaid balance of 2,910.2 million pesos, which are managed and originated by Infonavit and were acquired by FHipo via co-participation.

"The portfolio is made up entirely of the Infonavit Más Crédito product, which corresponds to borrowers with a previous history with Infonavit and who have requested their second mortgage loan," HR Rating Mexico pointed out in an analysis.

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This issue has received a “AAA” rating from three rating agencies: HR Ratings de México, Moody’s de México and S&P Global Ratings, which is the highest rating in Mexico, which ensures a strong payment capacity of the issuer.

At the end of December 2020, FHipo had 92,705 Infonavit mortgage loans, of which 54.6% of the loans make up the mortgage loan portfolio and the remaining 45.4% of the loans are off-balance sheet, through a securitized portfolio through other issues of stock certificates.

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