IDB Approves $80 Million Revolving Credit For Securitizadora Security GMAC-RFC

The Inter-American Development Bank (IDB) has approved up to $80 million for a revolving mortgage-backed credit facility for Securitizadora Security GMAC-RFC, a Chilean securitization company specialized in the securitization of residential mortgages and housing leasing contracts in the mid-to-low income segment. “The facility will help to further develop the mortgage market in Chile by increasing the availability of housing finance, in particular for housing units for the mid-to-low income segment; expanding the securitization market; and helping to meet increasing demand for long-term fixed income securities from local institutional investors”, said Edson Mori, IDB project team leader.