Omitir los comandos de cinta
Saltar al contenido principal
Desplazarse hacia arriba
History

Housing Operation and Bank Financing Fund (FOVI)


On April 10, 1963, the Mexican federal government, represented by the Ministry of finance and Public Credit and Banco de Mexico, S. A. (the central bank, now Banco de Mexico) signed a trust agreement creating the Housing Operation and Bank Discount Fund (now the Housing Operation and Bank Financing Fund (Spanish acronym FOVI)), which has, among others, the following purposes:

• Provide financial aid to credit institutions drawing on the fund’s equity, through loans for financing of construction, acquisition, and improvement of housing.

• Evaluate the growth of the financial housing market, and evaluate, plan, coordinate, and supervise other housing promotion programs.

• Provide technical opinions and approvals for housing projects.

In accordance with the provisions of Transitory Article Two of the Organic Law of Sociedad Hipotecaria Federal, on February 26, 2002, the date of the first meeting of Sociedad Hipotecaria Federal’s board of directors, SHF replaced the central bank as trustee in the Housing Operation and Bank Financing Fund. (FOVI)

Sociedad Hipotecaria Federal


On October 11, 2001, the Official Gazette of the Federation published the Decree enacting the Organic Law of Sociedad Hipotecaria Federal, regulating Article 4, fifth paragraph, of the Mexican Federal Constitution, which states that SHF has as its purpose to promote the growth of the primary and secondary mortgage markets, by granting guarantees for: construction, acquisition and improvement of housing, preferentially for the lower income bracket, and increase productive and technological development capacity related to housing.

In accordance with the provisions of Transitory Article Two of the Organic law of Sociedad Hipotecaria Federal, on February 26, 2002, the date of the first meeting of Sociedad Hipotecaria Federal’s board of directors, SHF replaced the central bank as trustee in the Housing Operation and Bank Financing Fund.

Since then, Sociedad Hipotecaria Federal, S.N.C. has launched a broad range of plans and programs designed to help growing numbers of Mexicans, who have historically been denied access to mortgages for different reasons, including problems documenting income or the difficulty of saving the necessary down payment, fulfill the dream of home ownership.

Last review: 06/02/2013 13:33
Decrease font sizeIncrease font sizePrintRecomend to a friend
I am looking for a loan I issue loans I sell houses A am an investor
Login