Mortgages: Millions of Americans have them, and may even take them for granted. Not so in Mexico, where they are relatively uncommon. But the November 2014 creation of a Mexican version of a U.S. mortgage real estate investment trust (REIT) for Fideicomiso Hipotecario (FHipo) could help change that.
A REIT pays no corporate taxes in return for distributing most of its profits to shareholders; a mortgage REIT bundles individual mortgages into securities for sale to investors. The Mexican REIT, called a FIBRA, raised more than 8.6 billion pesos ($633 million).
