In search of impulse to the real estate market through credits, the National Securities Commission (CNV) announced on Wednesday the implementation of a special regime for the public offer of mortgage financial trusts. With this measure, the organism allows Banks group mortgage loansmore agile and simple, and market them in the stock market, thus facilitating the Securitization of these assets.
Through RG No. 1053, and in line with the mandate and provisions of Decree No. 1017/2024, the CNV indicated that this regime It covers those vehicles whose underlying assets are mortgages, mortgage letters, mortgage loans or assimilable instruments.
This regulation implemented a securitization regime “More agile and simplified, with the aim of promoting and consolidating a robust and sustainable mortgage loan market,” The CNV said.
The CNV directory understands that it is “Fundamental to promote the creation of agile mechanisms that facilitate and energize the securitization of mortgage rights and their placement in the capital market.”
In that sense, the president of the CNV, Roberto E. Silva He stressed that “We are working to more flexible the procedures and processes within the capital market, in line with the deregulation that the national government promotes” and in this regard, he stressed that “we want to accompany these measures that are important for the development of the mortgage credit, and for Access to the Housing of the Argentines ”. Finally, he said that “We are proud to inform this type of regulations, which not only drives, but also promotes capital market growth.”
Mortgage credits: how is the simplified system for financial trusts
This new regime is distinguished by its flexibility. Has the possibility of Reduce the dissemination period to 1 day when the offer is aimed at qualified investors, compared to the 3 days established in the general regime.
It also allows reopen the placement for a period of up to 2 years from the original placement, which is not allowed in the general regime, where the results of the tender were definitive. Now, if there is a percentage of the authorized amount without placing, The placement can be reopened in the previously established conditions.
Another important benefit is the Possibility of issuing additional fiduciary values with automatic public offer, which was not possible in the general regime. This means that, additionally to the authorized amount, the trust can issue new titles in a more agile way and without additional procedures.
In summary, the benefits of this new regime are the reduction of the dissemination period for the placement of the fiduciary values to 1 (one) day when the issuance is aimed at qualified investors; The option to reopen the placement up to 2 (two) years after the initial broadcast and the possibility of issuing additional fiduciary values with automatic public offer.
It should be noted that Decree No. 1017/24 puts two tasks at CNV. The first is to authorize entities that meet the requirements to write down purchase and sale tickets throughout the country, which was done through RG No. 1043.
The second provision establishes this securitization regime to boost the mortgage loan market within the capital market.
Source: Ambito
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