SOFOLES

AcronymDefinition
SOFOLESSociedades Financieras de Objeto Limitado (Mexico)
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ALGUNOS ACTORES DE LA BANCA EN MEXICO BANCA GRANDES MEDIANOS AL DETALLE COMERCIAL Banamex, BBVB, Del Bajio, Wall-Mart, HSBC, Santander, Banregio, Ixe, Coppel, Azteca, Banorte, Interacciones, Ahorro Famsa Scotianbank, Bansi, Afirme, Inbursa, Banorte Invex, Mifel, Monex, Ve por Mas BANCA ENTIDADES DE BANCA DE BANCOS SOCIAL AHORRO Y CREDITO DESARROLLO POPULAR SOFOMES Nafin Compartamos SOFOLES Banjercito Banco amigo SOFIPOS Bancomext SOFINCOS Bansefi Sociedades Financiera Cooperativas Rural Uniones de credito PROGRAMAS SEDESOL SAGARPA SECRETARIA DE SOCIALES ECONOMIA Opciones Patmir Pronafin productivas (Finafim, Fommur) Habitat Pronaes Fuente: Elaboracion propia.
STR covered entities: Banks, mutual savings companies, insurance companies, securities brokers, retirement and investment funds, financial leasing and factoring entities, money exchangers, centros cambiarios (unlicensed foreign exchange centers), savings and loan institutions, money remitters, SOFOMES, SOFOLES, general deposit warehouses, casinos, notaries, lawyers, accountants, jewelers, realtors, NPOs, armored car transport companies, armoring services, construction companies, art dealers and appraisers, credit card system operators, prepaid card services, and traveler's checks services
The SOFOLES have instituted innovative loan origination and servicing policies and have spurred greater competition and specialization in the financial sector," said Natalie Pickering of Goldman Sachs, who wrote an article on SOFOLES for the Joint Center for Housing Studies at Harvard University.
The efficiency of SOFOLES oper-ations is, by necessity, quite high since their average loan size is very small by U.
This situation limits the value of these systems, but the SOFOLES are building a database that will ultimately provide the kind of information needed by rating agencies and private mortgage insurers to evaluate their portfolios.
Therefore, the SOFOLES have had to be aggressive in the early collection of delinquent payments.
AMSOFOL, the association of SOFOLES, has been working on a number of initiatives to increase efficiency and quality in their operations.
Number of STRs received and time frame: 86,293: January 2014--September 2014 Number of CTRs received and time frame: 5,000,000: January 2014--September 2014 STR covered entities: Banks, mutual savings companies, insurance companies, securities brokers, retirement and investment funds, financial leasing and factoring entities, casas de cambio, centros cambiarios (unlicensed foreign exchange centers), savings and loan institutions, money remitters, SOFOMES, SOFOLES, general deposit warehouses, casinos, notaries, lawyers, accountants, jewelers, realtors, NPOs, armored car transport companies, armoring services, construction companies, art dealers and appraisers, credit card system operators, pre-paid card services, and traveler's checks services
STR covered entities: Banks, mutual savings companies, insurance companies, securities brokers, retirement and investment funds, financial leasing and factoring funds, casas de cambio, centros cambiarios (unlicensed foreign exchange centers), savings and loan institutions, money remitters, SOFOMES, SOFOLES, general deposit warehouses, casinos, notaries, lawyers, accountants, jewelers, realtors, non-profit organizations, armored car transport companies, armoring services, construction companies, art dealers and appraisers, credit card system operators, pre-paid card services, and traveler's checks services
In 2011, the GOM also issued a number of AML/CFT regulations covering financial entities; specifically: General Provisions applicable to Auxiliary Credit Organizations (issued on 5/31/11); General Provisions applicable to SOFOLES (issued on 3/17/11); and General Provisions applicable to SOFOMES (issued on 3/17/11).