The Financial Insurance Guaranty Company (FGIC) has guaranteed its first Mexican residential mortgage-backed security and the country's first monoline-wrapped RMBS transaction.
FGIC guaranteed the $67.5 million-equivalent series A tranche of a transaction for GMAC Financiera, a subsidiary of General Motors’ financing arm.
"This was an important transaction in the evolution of the Mexican RMBS market. By combining a senior/subordinate structure with a full FGIC wrap, GMAC was able to achieve an e
The week on Risk.net, July 7-13, 2018Receive this by email