Fovissste “takes out the portfolio”, will deliver 59,000 housing loans in 2023

In the framework of its 50th anniversary, the Housing Fund of the Institute of Security and Social Services for State Workers (Fovissste) announced its plans for 2023, among which the delivery of 59,001 loans for home acquisition stands out.

According to the government agency, 50,201 of the loans will be financed with own resources; while 8,800 will be awarded in conjunction with the commercial Bank.

The placement projected by fovissste for the following year, it is 21.3% higher than what was registered during 2022, since, according to official data from the Fund, this year a total of 46,377 housing loans were granted.

It should be mentioned that the economic flow that was generated with the placement was 40,634 million pesos, which represented the generation of 524,000 direct and indirect jobs.

Additionally, the Fund delivered around 8,000 million pesos to the workers who withdrew resources from their housing subaccount for having finished their work cycle. It is estimated the performance contributed to the subaccounts is 20,500 million pesos.

“To comply with the presidential mandate to support our borrowers with problems that prevent them from meeting their payment obligations, next year Several initiatives will be launched focused on finding sustainable solutions that protect their heritage”the agency reported.

The second largest mortgage institution

To celebrate its 50th anniversary, starting January 11, fovissste will carry out various activities with workers, right holders and collegiate bodies. The also intends to highlight two facts that will mark a before and after in the organism:

For the first time in its history, the Fovissste’s portfolio will contemplate the delivery of loans in pesos with an interest rate and fixed payments throughout the life of the financing.

In addition, by 2023, the Fund will evolve to a model of continuing enrollment that will allow workers to exercise their right to a housing credit at any time and when they need it most.

Since its creation as a decentralized body of the Institute for Social Security and Services for State Workers (ISSSTE), Fovissste has supported almost two million state workers, which has meant a economic benefit of close to 700,000 million pesos.

Thanks to the contributions of the more than 2.5 million beneficiariesis currently the second largest mortgage institution in the country and is positioned as a key element in the achievement of the National Housing Policy issued by the present administration.

In this regard, the executive member, César Buenrostro Moreno, recognized the work of the Fovissste staff: “Thanks to them, the Fund has been in continuous transformationwhich has made it possible to meet the needs of our rights and creditors”.