Institutional Program of the Housing Bank Operation and Financing Fund 2025-2030

DOF: 06/11/2025

INSTITUTIONAL PROGRAM OF THE HOUSING BANK OPERATION AND FINANCING FUND 2025-2030

At the margin, a seal with the National Coat of Arms, which says: United Mexican States.- Treasury.- Secretariat of Treasury and Public Credit.

INSTITUTIONAL PROGRAM OF THE HOUSING BANK OPERATION AND FINANCING FUND 2025-2030

The General Fiduciary Delegate of Sociedad Hipotecaria Federal, National Credit Society, Development Banking Institution, fiduciary of the Housing Bank Operation and Financing Fund, in compliance with the agreement adopted by the Technical Committee of the Housing Bank Operation and Financing Fund in its extraordinary session 49, held on September 15, 2025, in which it approved its Institutional Program; therefore, based on what is established in clause Ninth, subsections c) and h) of the Constitutive Contract of the Housing Bank Operation and Financing Fund; article 58, fraction II of the Federal Law of Para-State Entities, which was prepared in consideration of what is provided in articles 17, fractions II, V and VI, 24 and 29, third paragraph of the Planning Law; numeral 45 of the Criteria for the management, evaluation and update of the programs derived from the National Development Plan 2025-2030; 47, 48 and 50 of the Federal Law of Para-State Entities, and which was approved by the Secretariat of Treasury and Public Credit, has seen fit to publish the following:

1. Index

1. Index
2. Identification of the source of the Program's resources
3. Acronyms and abbreviations
4. Legal basis
5. Diagnosis of the current situation and long-term vision
6. Objectives
7. Strategies and lines of action
8. Indicators and targets

2. Identification of the source of the Program's resources

The Housing Bank Operation and Financing Fund (FOVI), in its capacity as an Entity of the Federal Public Administration Para-State, is established as a Public Trust administered by Sociedad Hipotecaria Federal, S.N.C., I.B.D., whose own income is not included in the Revenue Law, and its expenditures do not form part of the total net spending.

All the actions considered in this Program, including those corresponding to its objectives, strategies and lines of action, as well as the inter-institutional coordination work for the implementation of said actions and the monitoring, reporting and accountability of the same, will be carried out at the expense of the resources approved for the spending executors participating in the Program, in the Decree of Expenditure Budget of the Federation for the respective exercise and no additional resources will be requested beyond those already considered in the assigned budget.

3. Acronyms and abbreviations

APF Federal Public Administration APVS Housing Producing Agencies CNBV National Banking and Securities Commission CONAVI National Housing Commission CPEUM Political Constitution of the United Mexican States CUOEF General Provisions Applicable to Promotion Bodies and Promotion Entities ENIGH National Survey of Household Income and Expenditure FOVISSSTE Housing Fund of the Institute of Social Security and Services for State Workers IF Financial Intermediaries IMOR Delinquency Index IMSS Mexican Institute of Social Security INFONAVIT Institute of the National Housing Fund for Workers INEGI National Institute of Statistics and Geography LIC Credit Institutions Law ONAVIS National Housing Bodies GDP Gross Domestic Product PND National Development Plan PNI National Infrastructure Program PRONAFIDE National Development Financing Program PRONAVI National Housing Program PSEDATU Sectoral Program for Agrarian, Territorial and Urban Development RH Housing Backlog RUV Single Housing Registry SABG Anti-Corruption and Good Government Secretariat SCV Housing Credit Insurance SM Minimum Wages SMA Annual Minimum Wages SNIIV National Housing Information and Indicators System SSH Mortgage Sofomes and Sofoles SHCP Secretariat of Treasury and Public Credit SHF Sociedad Hipotecaria Federal SOCAPS Savings and Loan Cooperative Societies SOFIPOS Popular Financial Societies SOFOLES Limited Purpose Financial Societies SOFOMES Multiple Purpose Financial Societies UDIs Investment Units

4. Legal basis

Article 26, section A, of the CPEUM, states that the State will organize a democratic planning system for national development that imparts solidity, dynamism, competitiveness, permanence and equity to the growth of the economy for the independence and political, social and cultural democratization of the nation; and, likewise, states that the programs of the APF will be subject to the PND.

In accordance with Art. 1 of the Housing Law, housing is a priority area for national development and the State will promote and organize the activities inherent to the matter, with the participation of the social and private sectors, in accordance with the applicable provisions.

In terms of this Law, national housing policy and programs, as well as the set of instruments and supports, will guide the development and promotion of the activities of the dependencies and entities of the APF in housing matters, their coordination with the governments of the federative entities and municipalities, and the concertation with the social and private sectors, in order to lay the foundations to aspire to a more equitable national development, which integrates population centers with productive centers, also considering those with a lower degree of development, to correct regional disparities and social inequities derived from the disordered growth of urban zones.

Therefore, Arts. 2° and 4° of the Planning Law, provide that planning must be carried out as a means for the effective performance of the State's responsibility for the equitable, inclusive, integral, sustainable and sustainable development of the country, with an intercultural and gender perspective, and must tend to the achievement of the political, social, cultural, environmental and economic ends and objectives contained in the CPEUM.

With respect to and in accordance with what is stated by Arts. 17, fraction II, 22 and 24 of the Planning Law, the para-state entities of the APF must prepare their institutional programs, in the terms provided by said Law, the LFEP, and in accordance with the provisions that regulate their organization and functioning, attending to the provisions contained in the corresponding sectoral program, observing in what is relevant the respective environmental, economic, social and cultural variables.

For its part, the LFEP, in its Art. 47, provides for the obligation on the part of these, to subject their operation to the Planning Law, the PND, the sectoral programs derived from it and to the authorized spending and financing allocations, and within those guidelines, the entities will formulate their institutional programs in the short, medium and long term.

In that order of ideas, and in accordance with what is stated by articles 48 and 49 of said Law, the Institutional Program constitutes the assumption of commitments in terms of goals and results that the respective para-state entity must reach and will be prepared in accordance with Art. 22 of the Planning Law.

In the case of development banking institutions, article 31, second paragraph, of the LIC provides that the programs of development banking institutions must be formulated in accordance with the guidelines and objectives of the PND 2025-2030, the PRONAFIDE 2025-2030 and the other sectoral programs of the PND itself.

Consequently, within the framework of the PND 2025-2030, the FOVI Institutional Program 2025-2030 mainly attends to General Axis 2 "Development with Well-being and Humanism" and General Axis 3 "Moral Economy and Work" and to the transversal Axis 3: Rights of indigenous and Afro-Mexican communities, attending to Republic VI. "Republic with access to Housing".

The FOVI Institutional Program 2025-2030 is aligned with the PRONAFIDE 2025-2030; likewise, it considers actions provided for in the PSEDATU 2025-2030 and in the matter of PRONAVI 2025-2030 and the PNI 2025-2030.

Likewise, it considers the legal provisions derived from the LIC, from the Organic Law of SHF, in its capacity as fiduciary of FOVI, from the LFEP, and other applicable legislation.

5. Diagnosis of the current situation and long-term vision

On April 10, 1963, the Federal Government through the Secretariat of Treasury and Public Credit constituted in Banco de México, S.A., the Bank Operation and Discount Fund for Housing (currently Housing Bank Operation and Financing Fund - FOVI).

From 1984 until 2001, FOVI originated double-indexed mortgage portfolio (referenced to a market interest rate and with payments by borrowers indexed to the minimum wage) which benefits from the Guarantee for Deficient Final Recovery (Final Balance) of FOVI.

Likewise, from 1994 until 2001, FOVI originated mortgage credits denominated in UDIs through the specialized Sofoles in the mortgage branch.

These credits have the SM to UDIs Swap coverage granted by FOVI, which covers borrowers against possible drops in the minimum wage in real terms, allowing them to pay in minimum wages their mortgages originated in UDIs.

On October 11, 2001, the Decree by which the Organic Law of Sociedad Hipotecaria Federal is issued, regulatory of the fifth paragraph of article 4 of the Political Constitution of the United Mexican States, was published in the Official Journal of the Federation, in which it is established that it will be the substitute fiduciary of FOVI, and in which it is stated that the said Society has as its object to promote the development of the primary and secondary markets for housing credit, through the granting of guarantees destined to: the construction, acquisition and improvement of housing, preferably of social interest; as well as to the increase in productive capacity and technological development, related to housing.

From February 26, 2002, SHF began operations and was constituted as the fiduciary of FOVI (in substitution of Banco de México), so it is in charge of the administration of the Fund.

From the foregoing, SHF assumes the work of granting new credits and guarantees to support the development and growth of the sector.

In this way, SHF is constituted as an institution integrated internally by three entities that carry out complementary activities for the fulfillment of its object (SHF, FOVI, SCV-SHF).

To date, FOVI has focused mainly on carrying out the following substantive operational and financial activities related to the operation and administration of the trust:

• Portfolio Recovery .- This substantive function for FOVI consists in the recovery of the direct credit granted. Within its respective regulatory framework and as a result of the mortgage crisis, FOVI found itself in the need to grant credit again through lines to various financial intermediaries that presented liquidity problems in those years.

• Final Balance Guarantee .- Another substantive activity is the administration of the Final Balance Guarantee, which consists in FOVI covering the remaining unpaid balance at the end of the credit term, originated by possible mismatches between payments, indexed to the growth of the minimum wage, and the interest rate (credit refinancing).

• Minimum Wages UDIs Coverage (1) .- This coverage aims to reduce systemic risk in the granting of portfolio in UDIs against possible drops in the minimum wage in real terms, which allows borrowers to pay in minimum wages a mortgage originated in UDIs. For this, FOVI has been operating coverage schemes for this contingency since the premiums paid by borrowers.

• Assets received in dación en pago .- As a result of the problems faced by some Sofoles and Sofomes Hipotecarias, between 2008 and 2012, FOVI received in dación en pago fiduciary rights in structures with individual and commercial assets, whose management is currently in charge of professional administrators.

Alignment of the FOVI Institutional Program

The PND 2025-2030 contemplates an approach that considers that the State has the responsibility to promote, respect, protect and guarantee social rights, following the principles of universality, interdependence, indivisibility and progressivity.

The entire population must be able to satisfy their basic needs and have guaranteed access to education, health, adequate housing and the financial system.

It is in that context that FOVI considers in its 2025-2030 institutional program to contribute to SHF fulfilling its objectives and maintaining congruence in its activities with its mandate to strengthen access to the right to housing and to the financial inclusion of various sectors of the population by guaranteeing access to financing for the various agents linked to said sector.

It considers its alignment with the PND 2025-2030 with the General Axis 2: Development with well-being and Humanism, Republic with access to housing, which is part of the 100 presidential commitments, in objective 2.9 "Guarantee the right to adequate and sustainable housing that improves the quality of life of the Mexican population, contributing to close the gaps of social and territorial inequality."

To the Strategy: 2.9.2 Promote financing in the housing sector through mechanisms and programs that facilitate the acquisition, self-production and improvement of homes with the objective of reducing Housing Backlog.

And with respect to the PRONAFIDE 2025-2030, to Objective 6. Promote the development of a more inclusive, resilient and sustainable financial system, strengthening its stability, competition and legal framework, to expand equitable access to financial services, reduce structural gaps and improve the financial health of the institution.

Strategy 6.5 Strengthen financial inclusion with products, services, financing, education and training, supported by the use of financial technology, contributing to the dispersion of supports from social programs, as well as in the development and construction of homes to improve the welfare of the sectors of attention and facilitate their incorporation in the formal financial market.

In lines of action 6.5.7. Co-operate with financing in the development and construction of a million homes in support of popular housing programs and 6.5.8. Promote through financing greater financial inclusion in the target population, for the acquisition of housing, improvement and self-production in the low-income population or in conditions of housing backlog promoting sustainable housing.

The priority objectives of the FOVI Institutional Program 2025-2030 respond to the nature of its current operation, which is focused to a greater extent on guaranteeing the fulfillment of the objectives and mandate of SHF by taking charge of the adequate administration and management of the portfolios that by their nature require an institutional effort for their restructuring, recovery and liquidation.

Financing for housing

In 2024, ONAVIS financed 17.2% more actions for home acquisition than in 2023. While in the case of improvements, it went from 48,742 actions in 2023 to 58,113 in 2024, an increase of 19.2%.

Actions for acquisition financed by the banking sector decreased by 6.1% and those for improvement were reduced by almost 94% in the same period.

1. Housing Financing 2023 - 2025 (actions).

Organism	Acquisition 2023	Acquisition 2024	Acquisition 2025*	Improvements 2023	Improvements 2024	Improvements 2025*
ONAVIS	270,250	316,720	85,963	48,742	58,113	6,502
FOVISSSTE	32,930	33,555	8,165	18	33	4
INFONAVIT	237,320	283,165	77,798	9,607	16,235	2,702
SHF	-	-	-	39,117	41,845	3,796
Financial Entities	98,646	92,627	25,794	24,021	1,521	611
BANKING	98,328	92,355	25,668	24,021	1,521	611
BANJERCITO	318	272	126	-	-	-
Federal Subsidies	-	-	-	-	-	-
CONAVI	-	-	-	-	-	-
FONHAPO	-	-	-	-	-	-
Other organisms	5,550	-	70	353	-	388
ISSFAM	-	-	-	-	-	-
CFE	-	-	-	-	-	-
PEMEX	-	-	-	-	-	-
HABITAT MÉXICO	552	-	70	353	-	388
INVI	4,998	-	-	-	-	-

*Data from January to April. Source: Prepared by FOVI with information from SNIIV.

In 2024, Infonavit granted 185.8 billion pesos (mmdp) for acquisition and 10.54 mmdp for improvement. On its part, FOVISSSTE provided 32.16 mmdp for acquisition and only 13.25 million pesos for improvement. In the case of Commercial Banking, the financed amount amounted to 226.57 mmdp for acquisition and 2.27 mmdp for improvements.

Table 2. Housing Financing 2023 - 2025 (amount). (Thousands of millions of current pesos)

Organism	Acquisition 2023	Acquisition 2024	Acquisition 2025*	Improvements 2023	Improvements 2024	Improvements 2025*
ONAVIS	171.71	217.96	62.87	6.54	11.65	1.96
FOVISSSTE	28.98	32.16	8.59	0.01	0.01	0.00
INFONAVIT	142.73	185.80	54.28	5.58	10.54	1.88
SHF	-	-	-	0.95	1.09	0.09
Financial Entities	227.90	226.99	65.50	3.37	2.27	1.08
BANKING	227.48	226.57	65.28	3.37	2.27	1.08
BANJERCITO	0.43	0.42	0.22	-	-	-
Federal Subsidies	-	-	-	-	-	-
CONAVI	-	-	-	-	-	-
FONHAPO	-	-	-	-	-	-
Other organisms	0.04	-	0.02	0.03	-	0.02
ISSFAM	-	-	-	-	-	-
CFE	-	-	-	-	-	-
PEMEX	-	-	-	-	-	-
HABITAT MÉXICO	0.03	-	0.02	0.03	-	0.02
INVI	0.01	-	-	-	-	-

*Data from January to April. Source: Prepared by FOVI with information from SNIIV.

At the first quarter of 2025, the Total Mortgage Portfolio (CHT) of INFONAVIT, FOVISSSTE and Multiple Banking amounted to 3.54 trillion nominal pesos, with 24 participants (22 banks, INFONAVIT and FOVISSSTE). INFONAVIT has a market participation of 52.8%, while 36.6% corresponds to Commercial Banking and 10.6% to FOVISSSTE. In recent years, a decrease in INFONAVIT's participation with respect to the total portfolio has been observed. This redistribution is a sign of sector deconcentration.

Graph 1. Percentage Distribution of the Total Mortgage Portfolio, 2025*. (Percentage)

*Figures as of March 2025. Source: Prepared by FOVI with information from CNBV, INFONAVIT and FOVISSSTE.

Commercial Banking has the participation of 22 financial institutions. Five of these concentrate 90.2% of the total balance. BBVA Mexico remains the main actor with 26.9% of the portfolio, followed by Banorte with 19.6%, Scotiabank with 18.2%, Santander with 15.7% and HSBC with 9.8%. In this sense, there is a high concentration in Commercial Banking.

Graph 2. Percentage Distribution of the Total Mortgage Portfolio of Commercial Banking, 2025*. (Percentage)

*Figures as of March 2025. Source: Prepared by FOVI with information from CNBV.

Delinquency Index and Deterioration Index. The IMOR (2) of the mortgage sector showed a peak-to-peak growth of 530 basis points, going from 6.0% in 2018 to 11.3% in March 2025. In the case of INFONAVIT, during the analyzed period, values higher than those registered by the total mortgage sector were observed, standing at 17.7% during the first quarter of 2025. FOVISSSTE presented a decrease in its IMOR of 50 basis points when comparing the figure at the end of 2024 with the one registered in the first quarter of 2025 (it went from 9.5% to 9.0%). In the case of Commercial Banking, its IMOR remained without significant changes in the 2018 - 2025T1 comparison. It is important to highlight that Commercial Banking presents an IMOR lower than 3% since 2022.

Graph 3. Delinquency Index, 2018 - 2025*. A. Percentage Source: Prepared by FOVI with information from CNBV.

Graph 4. Delinquency Index, 2018 - 2025*. B. Percentage Composition of the IMOR

*Figures as of March 2025. Source: Prepared by FOVI with information from CNBV, INFONAVIT and FOVISSSTE.

The deterioration index (IDER) (3) of the mortgage sector went from 3.0% at the end of 2023 to 8.5% in December 2024,

presenting

an

increase

of

almost

550

basis

points.

For

the

first

quarter

of

2025

the

IDER

of

FOVISSSTE,

INFONAVIT

and

Banking

presented

values

of

-1.5%,

-0.03%

and

4.7%,

respectively.

The

decrease

in

the

IDER

implies

an

improvement

in

the

credit

granting

processes.

Graph

5 .

IDER

of

mortgage

credit,

2018-2025*.

*Figures

as

of

March

2025.

Source:

Prepared

by

FOVI

with

information

from

CNBV,

INFONAVIT

and

FOVISSSTE.

Considering

the

situation

presented

by

the

diverse

institutions

participating

in

the

housing

sector,

it

is

evident

that

over

time

mortgage

portfolios

tend to deteriorate, because

it

is

a

long-term

loan,

in

which

over

its

validity

the

borrower

may

experience

economic,

labor

and/or

family

problems

that

could

affect

the

timely

payment

of

their

loan,

putting

the

borrower's

assets

at

risk

and

negatively

affecting

the

institution

that

granted

the

loan.

SHF,

through

FOVI,

is

responsible

for

managing

portfolios

that

present

problems

for

liquidation,

as

well

as

the

portfolios

received

in

dation

(in

payment

in

kind),

with

the

aim

of

mitigating

an

impact

that

could

deteriorate

the

financial

health

of

the

institution,

putting

the

fulfillment

of

institutional

objectives

at

risk.

6.

Objectives

The

priority

objectives

of

the

FOVI

Institutional

Program

2025-2030

respond

to

the

nature

of

its

current

operation,

which

is

focused

primarily

on

continuing

the

recovery

of

its

credit

portfolio,

with

a

particular

emphasis

on

portfolios

received

in

dation

(in

payment

in

kind),

on

administering

and

honoring

existing

guarantees

given,

as

well

as

on

monitoring

the

financial

sustainability

of

its

operating

environment,

all

under

a

social

and

administrative

efficiency

approach.

Likewise,

adequate

and

efficient

risk

management

and

the

consolidation

of

its

operational

efficiency

are

contemplated,

aligned

to

regulatory

compliance

in

matters

of

Risk

Management,

Capital

Requirements,

Portfolio

Rating

and

Corporate

Governance.

Considering

that

FOVI

is

a

Public

Trust

constituted

in

1963

by

the

Federal

Government

through

the

Secretariat

of

Finance

and

Public

Credit

at

Bank

of

Mexico,

which

has

been

administered

by

SHF

since

February

26,

2002,

the

strategies,

mission

and

vision

of

the

2025-2030

Institutional

Program

are

aligned

with

the

objectives

of

the

NHP

2025-2030

and

sectoral

programs.

Objectives of the FOVI Institutional Program 2025-2030

1.- Increase financing for the construction and acquisition of housing for population segments historically not served by traditional financial intermediaries

2.- Strengthen the recovery and optimal management of non-strategic assets

6.1

Relevance

of

objective

1:

Increase

financing

for

the

construction

and

acquisition

of

housing

for

population

segments

historically

not

served

by

traditional

financial

intermediaries.

FOVI,

in

coordination

with

SHF

as

its

administrator,

is

recognized

for

its

activities

in

promoting

housing

and

country

development

under

a

social,

economic

and

sustainable

approach,

offering

financial

solutions

that

facilitate

access

and

availability.

Starting

from

the

100

presidential

commitments,

the

VI

Republic

refers

to

access

to

housing,

and

General

Axis

2

of

the

NHP

2025-2030

" Development

with

well-being

and

humanism "

establishes

as

a

right

access

to

a

dignified

housing,

the

objective

1

of

FOVI

" Increase

financing

for

the

construction

and

acquisition

of

housing

for

population

segments

historically

not

served

by

traditional

financial

intermediaries "

aligns

with

strategy

2.9.2

of

the

NHP

Promote

financing

in

the

housing

sector

through

mechanisms

and

programs

that

facilitate

the

acquisition,

self-production

and

improvement

of

housing,

with

the

objective

of

reducing

the

housing

backlog.

With

the

objective

of

reaffirming

the

social

approach

in

the

generation

of

housing

solutions

for

Mexican

families

and

contributing

specifically

and

gradually

to

the

reduction

of

the

housing

backlog

through

the

granting

of

financial

support

for

the

construction

and

acquisition

of

housing,

FOVI

will

seek

to

offer

new

solutions

for

housing

acquisition

or

improvement

that

are

affordable

and

promote

technological

development

related

to

housing

and

that

are

achievable

for

the

traditionally

unserved

population.

Through

the

approval

of

the

FOVI

Digital

Mortgage

Product,

in

2023

a

mechanism

was

formalized

that

allows

financing

the

acquisition

of

completed

housing

(new

or

used)

from

a

segment

of

the

salaried

or

mixed-income

population.

6.2

Relevance

of

objective

2:

Strengthen

the

recovery

and

optimal

management

of

non-strategic

assets.

As

a

result

of

the

problems

faced

by

some

Sofoles

and

Mortgage

Sofomes

between

2008

and

2012,

FOVI

received

in

dation

(in

payment

in

kind)

trust

rights

in

structures

with

individual

and

commercial

assets,

whose

management

is

currently

under

the

charge

of

professional

administrators.

The

priority

objectives

of

the

FOVI

2025-2030

Institutional

Program

respond

to

the

nature

of

its

current

operation,

which

is

focused

primarily

on

continuing

the

recovery

of

its

credit

portfolio,

with

a

particular

emphasis

on

portfolios

received

in

dation

(in

payment

in

kind),

on

administering

and

honoring

existing

guarantees

given,

as

well

as

on

monitoring

the

financial

sustainability

of

its

operating

environment,

all

under

a

social

and

administrative

efficiency

approach,

granting

financial

support

and

guarantees

for

the

construction

and

acquisition

of

housing,

canalizing

resources

through

financial

intermediaries,

being

these

the

multiple

banking

institutions

and

the

SOFOLES

of

the

mortgage

and

real

estate

branch,

registered

with

FOVI

Considering

that

FOVI

is

a

public

trust

constituted

in

1963

by

the

federal

government

through

the

SHCP

at

Bank

of

Mexico,

which

is

administered

by

SHF,

this

strategy

is

aligned

with

the

objectives

of

the

SHF

Institutional

Program

2025-2030,

as

well

as

with

the

Sectoral

Programs.

6.3

Linkage

of

the

objectives

of

the

National

Program

for

Development

Financing

2025-2030

The

objectives

of

the

Institutional

Program

of

the

Federal

Mortgage

Society

2025-2030

are

linked

to

PRONAFIDE

2025-

2030

in

Objective

6.

Promote

the

development

of

a

more

inclusive,

resilient

and

sustainable

financial

system,

strengthening

its

stability

competition

and

legal

framework,

to

expand

equitable

access

to

financial

services,

reduce

structural

gaps

and

improve

the

financial

health

of

the

institution.

Strategy

6.5

Strengthen

financial

inclusion

with

products,

services,

financing,

education

and

training,

supported

by

the

use

of

financial

technology,

contributing

to

the

dispersion

of

support

from

social

programs,

as

well

as

in

the

development

and

construction

of

housing

to

improve

the

well-being

of

the

target

sectors

and

facilitate

their

incorporation

into

the

formal

financial

market.

In

the

lines

of

action

6.5.7.

Cooperate

with

financing

in

the

development

and

construction

of

a

million

houses

in

support

of

popular

housing

programs

and

6.5.8.

Promote

through

financing

greater

financial

inclusion

in

the

target

population,

for

housing

acquisition,

improvement

and

self-production

in

the

low-income

population

or

in

conditions

of

housing

backlog

promoting

sustainable

housing.

Objectives of the FOVI Institutional Program

2025-2030

Objectives of PRONAFIDE 2025 - 2030

Strategies of PRONAFIDE 2025 - 2030

1.- Increase financing for the

construction and acquisition of housing

for population segments

historically not served by

traditional financial intermediaries.

6. Promote the development of a

more inclusive, resilient and

sustainable financial system, strengthening its stability,

competition and legal framework, to

expand equitable access to services

financial, reduce structural gaps

and improve the financial health of the

population.

6.5 Strengthen financial inclusion with

products, services, financing, education and

training, supported by the use of financial

technology, contributing to the dispersion of

support from social programs, as well as in the

development and construction of housing for

improve the well-being of the target sectors and

facilitate their incorporation into the formal financial

market.

2.- Strengthen the recovery and management

optimal of non-strategic assets

6. Promote the development of a

more inclusive, resilient and

sustainable financial system, strengthening its stability,

competition and legal framework, to

expand equitable access to services

financial, reduce structural gaps

and improve the financial health of the

population.

6.5 Strengthen financial inclusion with

products, services, financing, education and

training, supported by the use of financial

technology, contributing to the dispersion of

support from social programs, as well as in the

development and construction of housing for

improve the well-being of the target sectors and

facilitate their incorporation into the formal financial

market.

7.

Strategies

and

lines

of

action

The

strategies

that

will

be

implemented

for

the

fulfillment

of

the

priority

objectives

of

FOVI,

consider

both

the

placement

of

credit

for

construction

and

acquisition

of

housing,

as

well

as

the

recovery

and

adequate

management

of

non-strategic

assets,

which

will

allow

strengthening

the

sustainability

of

both

institutions

(SHF

-

FOVI),

as

well

as

reducing

risks.

Objective

1.

Increase

financing

for

the

construction

and

acquisition

of

housing

for

population

segments

historically

not

served

by

traditional

financial

intermediaries.

Strategy

1.1

Expand

support

directed

to

financial

intermediaries

to

strengthen

their

participation

in

the

housing

sector.

Lines of action

1.1.1 Generate and promote financial support products for housing acquisition in order to reduce the housing backlog (in coordination with SHF).

1.1.2 Increase the participation of non-bank financial intermediaries registered with SHF as administrator of FOVI, in less favored regions through individual or improvement credit.

Objective

2.

Strengthen

the

recovery

and

optimal

management

of

non-strategic

assets

Strategy

2.1

Purge

the

legacy

portfolio

of

FOVI

Lines of action

2.1.1 Accelerate the recovery and improve the performance of portfolio administrators, in order to reduce the recovery costs of overdue credits.

2.1.2 Generate portfolio purification and stabilization schemes.

2.1.3 Establish criteria and procedures for the divestiture of adjudicated non-strategic assets.

8.

Indicators

and

targets

The

FOVI

2025-2030

Institutional

Program

is

aligned

with

the

guidelines,

objectives,

strategies

and

targets

of

the

NHP

2025-2030

considering

General

Axis

2

Development

with

Well-being

and

Humanism,

and

aligned

to

the

sectoral

program

PRONAFIDE

2025-2030

and

maintains

congruence

with

the

programs

PSEDATU

20205-2030

and

PRONAVI

2025-2030.

Below,

the

indicators

for

each

objective

are

detailed:

Objectives

Indicator

Objective 1. Increase financing for the construction and

acquisition of housing for population segments

historically not served by traditional financial intermediaries

1.1 Total of Direct and Induced Credit Granting

Objective 2. Strengthen the recovery and optimal management of non-strategic

assets.

2.1 Total Amount of Direct and Induced Credit Balance to the

Private Sector

Indicator

1.1

ELEMENTS

OF

THE

INDICATOR

Name

Total

of

Direct

and

Induced

Credit

Granting

Objective

Increase

financing

for

the

construction

and

acquisition

of

housing

for

population

segments

historically

not

served

by

traditional

financial

intermediaries

Definition

or

description

Measures

the

total

amount

of

financing

to

the

housing

sector

Associated

right

Right

to

housing

Level

of

disaggregation

National

Periodicity

or

frequency

of

measurement

Annual

Accumulated

or

periodic

Periodic

Information

availability

February

of

the

following

year

Unit

of

measurement

Millions

of

pesos

Data

collection

period

January

to

December

Expected

trend

Ascending

Unit

responsible

for

reporting

progress

Business

Promotion

Unit

Calculation

method

Total

of

Direct

and

Induced

Credit

Granting

=

Total

amount

of

financing

of

the

year

N

Observations

APPLICATION

OF

THE

CALCULATION

METHOD

FOR

THE

OBTENTION

OF

THE

BASELINE

Name

variable

1

Total

amount

of

financing

of

the

year

2024

Value

variable

1

0

Source

of

information

variable

1

Information

from

reports

issued

by

the

Finance

Unit

Substitution

of

Calculation

Method

Total

of

Direct

and

Induced

Credit

Granting

=

0

BASELINE

VALUE

AND

TARGETS

Baseline

Note

on

the

baseline

Value

0

During

the

period

2022

to

2024

the

design

and

implementation

process

of

a

credit

origination

model

complementary

to

the

financing

schemes

granted

by

the

SHF

was

carried

out.

Year

2024

Target

2030

Note

on

the

2030

target

5,000

The

granting

of

direct

and

induced

credit

during

the

period

2025-2030

will

be

18,500

million

pesos.

HISTORICAL

SERIES

OF

THE

INDICATOR

2019

2020

2021

2022

2023

2024

0

0

0

0

0

0

TARGETS

2025

2026

2027

2028

2029

2030

500

2,500

3,000

3,500

4,000

5,000

Indicator

2.1

ELEMENTS

OF

THE

INDICATOR

Name

Total

Amount

of

Direct

and

Induced

Credit

Balance

to

the

Private

Sector

Objective

Strengthen

the

recovery

and

optimal

management

of

non-strategic

assets

Definition

or

description

Measures

the

nominal

balance

of

direct

and

induced

credit

to

the

private

sector

Associated

right

Right

to

housing

Level

of

disaggregation

National

Periodicity

or

frequency

of

measurement

Annual

Accumulated

or

periodic

Periodic.

Information

availability

February

of

the

following

year

Unit

of

measurement

millions

of

pesos

Data

collection

period

January

to

December

Expected

trend

Ascending

Unit

responsible

for

reporting

progress

Finance

Unit

Calculation

method

Total

Amount

of

Direct

and

Induced

Credit

Balance

to

the

Private

Sector

=

Balance

of

Direct

and

Induced

Credit

to

the

Private

Sector

observed

at

the

close

of

the

year

N

Observations

APPLICATION

OF

THE

CALCULATION

METHOD

FOR

THE

OBTENTION

OF

THE

BASELINE

Name

variable

1

Balance

of

Direct

and

Induced

Credit

to

the

Private

Sector

observed

at

the

close

of

2024

Value

variable

1

5,413

Source

of

information

variable

1

Information

from

reports

issued

by

the

Finance

Unit

Substitution

in

calculation

method

BASELINE

VALUE

AND

TARGETS

Baseline

Note

on

the

baseline

Value

5,413

Although

during

the

period

2020

-

2024,

the

total

balance

of

direct

and

induced

credit

of

FOVI

maintained

a

descending

behavior

as

it

did

not

place

financing

actions

to

the

private

sector.

Year

2024

Target

2030

Note

on

the

2030

target

21,227

Upon

initiating

the

financing

placement

process

by

FOVI,

it

is

expected

that

the

balance

will

show

an

ascending

behavior.

HISTORICAL

SERIES

OF

THE

INDICATOR.

2019

2020

2021

2022

2023

2024

9,316

8,170

7,016

6,021

5,995

5,413

TARGETS.

2025

2026

2027

2028

2029

2030

5,820

8,134

10,832

13,844

17,150

21,227

Mexico

City

on

September

22,

2025.

• General

Fiduciary

Delegate

of

Federal

Mortgage

Society,

National

Credit

Society,

Development

Bank

Institution,

trustee

of

the

Housing

Banking

Operation

and

Financing

Fund,

Mtro.

Jorge

Alberto

Mendoza

Sánchez

.-

Rubric.

1

Currently the Swap SM coverage to UDIs is applicable both to the UDIs portfolio generated by FOVI from 1994 to 2001, as well

to that originated by SHF from 2002 to 2012. Currently SHF no longer originates this type of credit.

2

The IMOR of INFONAVIT and FOVISSSTE for 2018 - 2023 does not match what is reported by both institutions for the portfolio in

extension. In INFONAVIT and FOVISSSTE, a portfolio in extension is considered that with more than 90 days of non-payment and less than 180 and

is added to the current portfolio. To homogenize results it is calculated as in Commercial Banking.

Additionally. From 2022 onwards, the portfolio is reported in three stages, so that to homogenize the information, stage 3 portfolio was used as overdue portfolio.

3

The IDER is measured as the annual percentage variation of the overdue portfolio in nominal terms.

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