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Understanding the Mexican Mortgage

Interview with Jose Jesus Gomez Dorante, CFO of Infonavit


FEB, 2012 Premium Article ALI: Tell us about Infonavit. JJGD: Infonavit is the Largest mortgage lender in Mexico.  Every year we issue almost half a million mortgages, and Infonavitwe have a portfolio of almost  five million mortgages total. Our balance sheet, depending on exchange rate – which is very volatile – is about US$60 billion.  Infonavit’s mandate is to lend to formal private sector workers in Mexico.  The Mexican constitution mandates that employers supply housing to employees, and our institution was created to enforce that mandate.  It was created in 1972, funded through contributions of employers on behalf of every worker: 5% of every salary.  That is the source of the fund capital of the housing fund we manage; every two months we collect 5% of private sector payroll in Mexico and invest that .....




 
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