Fideicomiso Irrevocable F2061 FHipo (IFC-39740)

Countries
  • Mexico
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Sep 29, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Fideicomiso Irrevocable F2061 FHipo
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 113.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 3, 2018

Disclosed by Bank Jul 28, 2017


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

From the IFC:

The proposed project consists of credit facility through a financing structure with Fideicomiso Hipotecario. With this financing, FHipo will continue to provide liquidity to mortgage loan originators in Mexico, allowing them to expand the amount of mortgages granted and thus benefiting a greater number of Mexican families.

FHipo is managed by Concentradora Hipotecaria S.A.P.I. de C.V.

IFC's support will enable FHipo to expand the scale of its investments, by increasing the amount of residential mortgage portfolios acquired by them. This in turn is expected to have a twofold impact:
i) Residential mortgages originators will be benefited by obtaining access to liquidity and funding diversification to increase their operations, and, consequently, increasing the number of families being able to get mortgage financing; and ii) Institutional investors will also benefit from the proposed Project, since it will contribute to a wider availability of impact investment opportunities in form of RMBS in the capital markets.

Investment Description
  • International Finance Corporation (IFC)

The proposed total IFC investment consists of an A Loan of up to MXN2,000 million (US$113 million), on IFC's own account.

Private Actors

FHipo, a publicly entity traded in the Mexican stock exchange, is the first real estate investment trust established to acquire, originate, co-participate, and manage mainly mortgage portfolios in Mexico.  Currently, it is the only investment vehicle that provides investors with exposure solely to the Mexican mortgage market and rewards them through a combination of dividend payments and capital gains.  FHipo is managed by Concentradora Hipotecaria S.A.P.I. de C.V., which has a management team that overall accounts with more than 50 years of experience in the finance and mortgage sector.

Contact Information

Concentradora Hipotecaria, as Advisor and Manager of Fideicomiso Irrevocable F/2061 FHipo
Daniel Braatz
CEO
+52 55 4744 1100
db@fhipo.com
Juan Salvador Agraz 65 9th Floor, Lomas de Santa Fe, Mexico City, 05300
www.fhipo.com

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/