Fideicomiso Hipotecario (FHipo), the first investment trust in Mexico that manages portfolios of mortgage loans, raised 2,500 million pesos with the issuance of fiduciary stock certificates through the Institutional Stock Exchange (BIVA), the stock market in Mexico that is about to complete three years of operations.

The resources obtained from the sale of debt securities, which were rated with a “AAA” rating on a local scale by HR Ratings, S&P Ratings and Moody's, will be used for their growth plans in their mortgage loan portfolio.

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In a statement, it was detailed that the papers were placed for a 30-year term and with a fixed coupon of 8.06% in pesos. In addition, a capacity of 14.0 percent was registered.

"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.

María Ariza, CEO of BIVA, said through the statement that with the issuance, FHipo will continue to develop its business model in the origination and administration of residential mortgage portfolios throughout the Mexican Republic, thus helping the economic recovery of the country.

"It fills us with pride and encourages us to continue working, so that, through the stock market, more companies find an ally that allows them to meet their objectives," she added.

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This is the second securitization of the mortgage portfolio in pesos carried out by FHipo through BIVA. The first was executed in December 2020 and in the coming weeks they will carry out a new operation.

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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