The objective of the project is to Support CTH to (i) promote RMBS issuances in the Ecuadorean market; and (ii) increase the availability of mortgage financing for low to middle income segments of the population.
The transaction consists of a warehousing line of up to US$15 million, with an availability period of up to 4.5 years and a tenor of up to 15 years. CTH will use the proceeds of the line to originate, purchase and accumulate residential mortgages for their securitization in the capital markets. The proceeds from each RMBS Will be used to repaid IDB Invest’s financing and will be once again available for subsequent disbursements. The project expects to Support US$45 million in RMBS. CTH will target low and middle-income segments of the population.