FGIC’s first foray into Mexican RMBS market

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

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