IIC Contributes To The Development Of Secondary Mortgage Market Infrastructure In Brazil

08/30/2000

Support from the IIC will enable SFI-Serviços Financieros Imobiliários Ltda. to strengthen and expand its business WASHINGTON, D.C. - On August 29, 2000, the Board of Directors of the Inter-American Investment Corporation (IIC) approved a $1 million subordinated loan to SFI-Serviços Financieros Imobiliários Ltda. (SFI). SFI will expand the mortgage loan origination, processing, analysis, and servicing services it provides to Brazil's emerging secondary mortgage market.

With the funding from the IIC, SFI will be able to upgrade its software and systems, which in turn are the backbone of the mortgage servicing business.

High quality, independent mortgage loan servicing is the single most important factor in gaining investor confidence in the secondary mortgage market and in developing that market. Projections forecast that SFI is expected to be able to add approximately 800 loans per month over the next three years.

Contact: Roldan Trujillo

Telephone: (202) 623-3922

Email: sylviasz@iadb.org