Understanding the Credit Bureau’s Role in Mexico
In Mexico, the Credit Bureau has become a crucial factor in accessing long-term financing, especially for mortgage loans. Financial experts emphasize that maintaining up-to-date accounts is essential for securing favorable loan terms and increasing the likelihood of purchasing a home.
Who is Alfredo Garza and Why is He Relevant?
Alfredo Garza, the Commercial Director of Hipotecario at Banamex, explains that “anyone who uses credit is registered in the Credit Bureau.” This registry does not function as a blacklist but rather collects information on payment history, delays, and debt levels.
The Importance of Maintaining a Clean Credit History
Garza warns that the absence of information in this registry poses a problem, as banks lack data to assess an individual’s payment habits. As of June 2025, the mortgage credit placement in Mexico reached 273,700 million pesos, indicating a real annual growth of 2%, according to the Mexican Banking Association (ABM) data.
However, the number of originated financing in the first half of the year decreased by 6.9% annually, totaling 232,500 credits from commercial banks and public housing institutes.
Laura Montoya’s Perspective
Laura Montoya, the Executive Director of Corporate Relations at SOC Asesores, concurs with Garza’s advice. She stresses the importance of maintaining a clean credit history from an early age to secure loan approval with favorable terms.
The mortgage loan is the most common method for acquiring a home in Mexico, as few individuals can afford to pay for a property outright. Nevertheless, access to this financing largely depends on credit discipline.
Credit Scoring System
The credit history reflects the financial behavior of credit recipients over time. A vital tool in this analysis is the MOP (Method of Payment) system.
- MOP 1: Indicates a current account.
- MOP 2-9: Represents overdue debts ranging from 1 to 29 days up to more than 12 months.
Garza advises that individuals should avoid consecutive MOP 3 ratings, as this indicates poor payment habits. Consistency in maintaining a MOP 1 rating builds bank trust and leads to better mortgage loan conditions.
Luis Angulo, Director of SOC Hypothek, highlights that a poor credit history is not permanent. Although prolonged payment delays may limit short-term financing options, disciplined efforts can restore access to loans.
Garza explains, “If you can eventually obtain credit after previously owing something, most negative-marked cases can be cleared within 30 to 60 days without issues, especially for smaller debts. You can also send a clarification to the Credit Bureau to resolve the issue and successfully complete the mortgage application process.”
