SHF authorized them to originate and administer mortgages within the original FOVI program.
As noted, FOVI has evolved into a Fannie Mae--like national mortgage bank referred to as the Sociedad Hipotecaria Federal (SHF).
Along with funding and liquidity operations in the early stages, it will effectively provide three guarantees: one originally provided by FOVI (the unit of investment [UDI] minimum wage swap that is already in place) and two provided by SHF.
Until recently, INFONAVIT loans represented more than double the market share of FOVI.
The SOFOLES, however, have been both active and profitable since they work exclusively with the FOVI program.
Private pension funds have been authorized by the government and are expected to generate $30 billion in deposits by the end of 2002, according to FOVI.
While authorized to raise funds through lines of credit and in the capital markets, as a practical matter the greatest proportion of SOFOL funding comes through FOVI
Esta sociedad financiera es una opcion de financiamiento accesible para las empresas constructoras, pues estas obtienen con seguridad y a bajo costo los recursos para la edificacion de vivienda de interes social, de acuerdo con los requerimientos del FOVI
, en tanto que la hipotecaria asume la administracion de los creditos individuales.
Besides the pension funds and FOVI, many smaller agencies are projected to provide more than N$2.
The second part of the Mexican government's housing strategy is the integration of the pension funds and FOVI with the activities of the private sector.
More recently, FOVI began in 1993 to provide guarantees of 50 to 60 percent on loans originated by commercial banks.
Tenemos que fortalecer a Banrural; tenemos que ver como opera mejor el FIRA; en la parte de interes social, creo que el FOVI
ha hecho un buen trabajo.