Banks And Government-Related Lenders Still Dominate Mexican Residential Mortgages, While Hard Times Continue For Private Firms May 11

Standard & Poors, May 2011

Abstract
The Mexican residential mortgage-lending business maintained fairly adequate performance overall through the recent economic downturn. Standard & Poor's Ratings Services believes the sector can now look forward to good conditions for double-digit growth--if only for the large banks and government-related lenders that now overwhelmingly dominate the market. Private mortgage companies took a beating in the downturn and now play a smaller role. (Listen to the related podcast titled, "How Mexico's Residential Mortgage Market Emerged From The Global Recession With Good Growth Prospects," dated June 20, 2011.) The Mexican mortgage market still holds plenty of opportunity because both the housing deficit and house ownership aspirations remain relatively high. However, most of the population in need of housing is part of the...

Companies mentioned in this report are: Hipotecaria Su Casita S.A. de C.V. SOFOM E.N.R.,Metrofinanciera, S.A.P.I. de C.V. SOFOM, E.N.R.,Sociedad Hipotecaria Federal, S.N.C.,Instituto del Fondo Nacional de la Vivienda para los Trabajadores (Infonavit),Fondo de la Vivienda del Instituto de Seguridad y Servicios Sociales de los Trabajadores del Estado (Fovissste)

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

Hipotecaria Su Casita S.A. de C.V. SOFOM E.N.R.,Metrofinanciera, S.A.P.I. de C.V. SOFOM, E.N.R.,Sociedad Hipotecaria Federal, S.N.C.,Instituto del Fondo Nacional de la Vivienda para los Trabajadores (Infonavit),Fondo de la Vivienda del Instituto de Seguridad y Servicios Sociales de los Trabajadores del Estado (Fovissste)

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