Moody's affirms SQ2 rating for Su Casita

Moody's has affirmed Mexican home finance company Hipotecaria Su Casita's SQ2 rating as a primary servicer of Mexican low-income mortgage loans originated under the Sociedad Hipotecaria Federal (SHF) programs. The rating is based on Su Castia's strong servicing results such as low delinquency rates and above average cure rates, Moody's said in a statement. Moody's SQ ratings provide an independent view of a loan servicer's ability to prevent or mitigate mortgage pool losses across changing markets. The rating scale ranges from SQ1 (strong) to SQ5 (weak). Su Casita is Mexico's second largest home finance company with a 21% market share for individual mortgages among other non-bank home lenders.