I. INTRODUCTION; II. A BRIEF REVIEW OF HOUSING FINANCE IN MEXICO; III. REFORMING INSTITUTIONS: THE FOUNDATIONS FOR PRIVATE MORTGAGE MARKETS; IV. THE MEXICAN WAY: FROM FOVI TO HITO; V. PAST LESSONS AND FUTURE CHALLENGES ; REFERENCES
Summary
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
Notes
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