GMAC Financiera
The centrepiece of the Mexican government’s social programme is its homebuilding scheme. For the first time, working-class Mexicans can afford to buy their own homes, taking out government-supported mortgages from Mexican mortgage lenders, or sofoles.
A lot of the sofoles are small, however, and in need of liquidity. They’re good at originating loans, but they are far from the obvious place to warehouse them.
Enter GMAC Financiera, a subsidiary of GMAC RFC – the residential funding arm of the financing arm of General Motors.
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