Regional Mortgage Guarantees

Central America and the Dominican Republic are forging ahead with the implementation of a "Central American Mortgage."

Wednesday, October 29, 2008

This mechanism will facilitate and expand credit access since it will be backed up by mortgage guarantees in any of the Central American countries or the Dominican Republic.

The first stage of the initiative is backed up by the United States Agency for International Development (USAID).

According to the Central American Registry Council, this initiative improves legal security for mortgage investment in the region, by having a constitution, inscription and execution of uniform mortgages.

More on this topic

Regional Mortgages and Real Estate

April 2012

After its ratification in El Salvador, the Regional Mortgage treaty still needs to be approved in one more country to come into force.

Salvadoran entrepreneurs welcomed the legislative ratification of the Treaty on Free Movement of Goods and Services, known as the ‘hipoteca centroamericana’ or Central American mortgage.

El Salvador Ratifies Regional Mortgages

April 2012

The Legislative has ratified a Treaty for the Establishment and Implementation of Central American Mortgages signed between Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Panama and the Dominican Republic.

From a press release from the Legislative Assembly of El Salvador:

El Salvador: Authorities Request Congress to Pass Regional Mortgage

April 2010

The National Registry Center requested Congress to pass the Treaty for Creating and Implementing Central American Mortgages.

This type of regional mortgage could make it easier to obtain capital, especially for indirect investments and loans.

“Guatemala, Honduras, Nicaragua, Costa Rica, Panama, the Dominican Republic and El Salvador are included in the treaty, which aims to ease mortgage loans in each of the member nations, by being able to use as collateral real estate located in other member countries”, explained

Challenges Ahead of Regional Mortgage

January 2010

There are issues complicating the practical execution of the Treaty for the Creation and Implementation of a Central American Mortgage.

In Guatemala, the Banking Superintendence warns on the problems that would take place in that country should the regional mortgage become a reality.

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