Mexico's Housing Fund Infonavit Makes 494,073 Mortgages in 2008
 Ken Parks - Dow Jones
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Mexico City - Mexico's largest home lender, federal housing fund Infonavit, said Monday it made 494,073 mortgages last year, just short of its goal of half a million loans.
In a press release, the fund said its lending activities totaled 152.44 billion pesos ($11.1 billion) in 2008.
Infonavit accounts for more than half of the mortgages made in Mexico every year and has more than MXN580 billion in loans on its balance sheet.
The fund, which is financed by its lending operations, mandatory employer contributions on behalf of about 14.5 million salaried workers, and the sale of mortgage-backed securities, plans to make 500,000 mortgages this year.
ken.parks(at)dowjones.com |
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