Mexican housing fund for public sector workers Fovissste is looking to issue 16bn-18bn pesos (US$1.28bn-1.44bn) worth of residential mortgage-backed securities (RMBS) or TFOVIS this year in different tranches, CEO Manuel Pérez Cárdenas told a conference in Cancún, Mexico.

Last year, Fovissste tapped the markets to the tune of 15.5bn pesos.

Fovissste was scheduled to kick off the 2010 RMBS placement program by issuing up to 4.5bn pesos Thursday (Mar 25). The mortgage lender will also look to place 4.5bn pesos in TFOVIS in May, September and November, Pérez Cárdenas said.

“This year should consolidate Fovissste as the most important issuer of mortgage-backed securities in Mexico,” Pérez Cárdenas added.

Last month, Fovissste sold 2.5bn pesos worth of RMBS denominated inflation-linked units (UDIs) called “bonHiTos,” which were part of its 2009 placement program.

The executive also said Fovissste is aiming to originate 100,000 mortgage loans for a second consecutive year, this time worth some 56bn pesos.

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