FOVISSSTE

AcronymDefinition
FOVISSSTEFondo de la Vivienda del Instituto de Seguridad y Servicios Sociales de los Trabajadores del Estado (Mexico)
References in periodicals archive ?
FOVISSSTE (Fondo de la Vivienda del Sistema de Seguridad Social de los Trabajadores del Estado) is a combination low-cost mortgage fund and pension plan program for public-sector employees.
SHF, INFONAVIT and FOVISSSTE have traditionally targeted the social and economic-housing segments.
Since 1994, the SOFOLs--with the assistance of FOVI--have been key players in the mortgage market, originating 20 percent to 25 percent of individual mortgages every year, with INFONAVIT and FOVISSSTE funding the rest.
A recent example of integration was a 1992 constitutional amendment to change the focus of INFONAVIT and FOVISSSTE from housing construction agencies to housing banks.
RMBS represent a growth opportunity for the housing sector and as a result of this INFONAVIT and FOVISSSTE have actively increased their reliance on Residential Mortgage Backed Securities issuances directed to domestic institutional investors as well as foreign investors.
In this context, the seventh edition of Mexican Housing Day is being presented as a space in which investors and expert analysts can discover firsthand the federal government's commitment to sustain public housing policy, the credit goals of the public housing agencies (INFONAVIT, SHF, FOVISSSTE and Conavi), private financial intermediaries (banks and cooperative financial associations) as well as Mexico's macroeconomic perspectives and established priorities with regard to social policy.
The ratings of the new issuance are based on Fitch's assessment of the origination and servicing procedures of FOVISSSTE, Fitch's expectations of future asset performance, the available credit enhancement, and the transaction's legal structure.
To date, FOVISSSTE has issued a total of seven transactions in the local market, all of which are rated by Fitch.
1%, respectively, of the overall INFONAVIT and FOVISSSTE market share, which again confirmed GEO as the undisputed leader in homes titled with both institutions.
To date, FOVISSSTE has issued a total of six transactions in the local market, all of them rated by Fitch.
To date, FOVISSSTE has issued a total of five transactions in the local market, all of them rated by Fitch.
In terms of yearly mortgage production, the market has grown significantly from 341,928 in 2000 to 842,000 in 2009 (146% increase) INFONAVIT and FOVISSSTE are responsible of allocating on a yearly basis approximately 450,000 and 100,000 new mortgages respectively.