Mortgages, securitization now helps those who are unable to pay the instalment

MyCredit in Corriere della Sera Economia: ‘Mortgages: securitisation now helps those who are unable to pay their instalments’. My Credit is the first institutional investor to launch a social securitisation project designed to support families who, due to rising mortgage rates and the difficult macroeconomic situation in Italy, have fallen into financial difficulties and are now at risk of losing their homes. In support of this pilot project, which combines finance with a real focus on people's circumstances, MyCredit has set up a €50 million fund and a dedicated task force. Social securitisation, introduced in 2019 and included in Law 130/99, is a tool through which My Credit is attempting to bridge the gap that currently exists between debtors and creditors. The project was presented on Tuesday 16 January 2024, during a Senate hearing, with the aim of initiating a concrete dialogue between politicians, professional associations and social partners, aimed at finding a solution to the problem of families and businesses struggling to meet their financial commitments.