Mexico chooses Danish mortgage credit system  

2005.09.12
The Mexican Treasury Department has chosen Denmark's VP Securities Services as the supplier of a new mortgage credit system patterned on the Danish model

The Mexican Treasury Department has chosen Denmark's VP Securities Services as the supplier of a new mortgage credit system patterned on the Danish model. VP has spent the last two years together with Totalkredit and Danmarks Nationalbank preparing the system which will be rolled out to mortgage providers in Mexico in the next 12 months.

Johannes Luef, president and CEO of VP Securities Services says the Danish model was reviewed in relation to other financial systems worldwide, including the US model, and was chosen as the one which fitted the best. VP Securities Services is providing the solution to Mexico as a non-profit project, and sees earnings potential from other countries possibly adopting the ASP solution.

For millions of Mexicans, the only way to finance a house purchase is through bank loans at high interest. The secure bond issuing system supplied by VP can provide cheaper loans which are also easier for the creditors to manage. The ASP solution for Mexico will be operated from servers placed at IBM Denmark, which is used to handle customers 24 hours a day across time zones. The news was reported by Computerworld and on the VP Securities Services website.

Link > VP Securities Services 

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