Mexico’s largest mortgage lender, state-owned Infonavit, is aiming to issue Cedevis or residential mortgage-backed securities (RMBS) worth 15.5bn pesos (US$1.25bn) this year, CEO Vнctor Borrбs told a panel in Cancъn, Mexico.

Infonavit plans to increase the amount of Cedevis issued in local markets to 15.9bn pesos in 2011, 16.3bn pesos in 2012, 16.6bn pesos in 2013 and 16.9bn pesos in 2014, Borrбs said.

Infonavit sold a record 4.93bn pesos worth of Cedevis earlier this month and demand was close to 9bn pesos. This was the first time a Cedevis issue drew interest from retail investors, Borrбs said.

Since launching its RMBS program in 2004, Infonavit has issued a total of US$4bn, which has provided funding for 270,000 loans.

Borrбs said Infonavit’s goal for this year is to underwrite 525,000 new loans and to grow that figure to 620,000 by 2014.

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