Causas económicas de morosidad en la cartera hipotecaria titulizada en México.

This paper shows the analysis carried out to determine which macroeconomic risk factors affect the delinquency of the mortgage portfolio securitized in Mexico. Hypothetical risk factors were constructed based on the review of relevant literature and the analysis of principal components of a set of economic variables. Using econometric tools, the relationships between delinquencies and hypothetical risk factors were analyzed, as well as between the former and the economic variables. Evidence shows that economic openness and international money market conditions are risk factors that can affect delinquency. Evidence was also found that the postulated variables are relevant to explain the delinquency of the portfolio studied. [ABSTRACT FROM AUTHOR]