| Infonavit to Aid Mexico's Homebuilders With 3 Billion-Peso Fund Nacha Cattan and Jonathan Roeder - Bloomberg News | |
| go to original April 30, 2013 |
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Infonavit, Mexico’s state-backed mortgage lender, set up a fund to promote apartment construction, as the country’s biggest publicly traded homebuilders sell assets or restructure debt amid a cash squeeze.
The 3 billion-peso ($246 million) stimulus fund will be used to finance mortgages on so-called vertical housing projects when construction is at least half completed, according to an e- mailed statement from Infonavit. The program also will ease mortgage-underwriting criteria to make more workers eligible and allow the agency to triple its capacity to originate loans, Infonavit said.
Read the rest at Bloomberg News
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