Mortgages: social securitization to help families in difficulty

In Avvenire, an article by Rachele Gallegari on the social securitisation project launched by MyCredit, the leading institutional investor. Mirko Tramontano, CEO of MyCredit, interviewed by Rachele Gallegari, explained that "The decision to adopt the social securitisation instrument stems from something we see every day: debtor families and businesses express their desire to keep their property and have a sustainable debt to pay off. We believe that social securitisation can pave the way for a process in which the interest is not exclusively that of the capital investor, but also takes into account the rehabilitation of the debtor, who is often the most vulnerable figure in the context." The project, for which MyCredit has set up a €50 million fund and a dedicated task force, is aimed at families and SMEs, the categories that have been most affected by the financial crises. ‘Addressing people's needs has always been both a choice and a business model for us, dictated by the desire to do something that would be positive for the real economy and, consequently, also at a social level,’ explains Tramontano.