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Securitization of Real Estate Receivables in Brazil: Assessing the Feasibility of a Secondary Market - Couverture souple

Tabacniks, Erika

 
9783846505687: Securitization of Real Estate Receivables in Brazil: Assessing the Feasibility of a Secondary Market

Synopsis

Real estate lending has reached unprecedented levels in Brazil, in part due to the country’s stability-oriented economic policies adopted over the past decade. Mortgages are growing at a faster pace than savings accounts, their main funding source, which many believe will prompt banks to start packaging more home loans to make room on their balance sheets for other assets. For securitization to efficiently finance the real estate market, three factors must be present: a favorable macroeconomic environment; a comprehensive and effective legal and regulatory framework; and a broad market with investor appetite for different types of investments. This book provides a detailed analysis of the historical factors and macroeconomic conditions that led to this relatively new and exciting economic environment and shows that the high interest rates that have haunted the economy for decades, combined with other technical and structural hurdles, jeopardize the future of securitization transactions in the Brazilian market. Especially useful to professionals in the fields of Real Estate Credit & Finance, this is essential reading for anyone interested in doing business in this intricate market.

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Présentation de l'éditeur

Real estate lending has reached unprecedented levels in Brazil, in part due to the country’s stability-oriented economic policies adopted over the past decade. Mortgages are growing at a faster pace than savings accounts, their main funding source, which many believe will prompt banks to start packaging more home loans to make room on their balance sheets for other assets. For securitization to efficiently finance the real estate market, three factors must be present: a favorable macroeconomic environment; a comprehensive and effective legal and regulatory framework; and a broad market with investor appetite for different types of investments. This book provides a detailed analysis of the historical factors and macroeconomic conditions that led to this relatively new and exciting economic environment and shows that the high interest rates that have haunted the economy for decades, combined with other technical and structural hurdles, jeopardize the future of securitization transactions in the Brazilian market. Especially useful to professionals in the fields of Real Estate Credit & Finance, this is essential reading for anyone interested in doing business in this intricate market.

Biographie de l'auteur

Erika Tabacniks, MA, studied International Business and International Economic Law at The Fletcher School, Tufts University. She has an economics degree from UNICAMP. Now a Client Specialist for Thomson Reuters Sao Paulo, Ms. Tabacniks has worked for Bovespa, Citibank and MZ Consult in Brazil and for Genworth Financial and Drum Cussac in the USA.

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