Argentine Mortgage-Backed Securitization Gets Boost

Argentina’s mortgage-backed securitization market is due to get a boost after the country’s largest banks announced they would be offering mortgage loans for up to 30 years, charging fixed interest below annual inflation rates. In all, 17 banks signed up to a plan supported by President Nestor Kirchner aimed at promoting accessible mortgage lending. Recently, there has been talk among bankers about the need to create a “local Fannie Mae” along the lines of the US federal national mortgage association, to help stimulate the secondary market for mortgage-backed securities.