Million-Dollar Debts: Non-Compliant Companies with Infonavit
There are private companies that owe Infonavit more than 2 billion pesos because they failed to deliver homes of adequate quality or simply didn't deliver them at all, as stated by the general director of Infonavit, Octavio Romero Oropeza, during the General Assembly 133 of the agency. The official pointed out that these companies misused Credit Line III, which was created to finance developers who offered poorly constructed homes or failed to meet delivery deadlines.
Credit Line III allows labor unions to incentivize their workers to purchase homes in pre-sale, taking into account both the cost of land and construction within the same loan amount, explains Infonavit on its website. “The mismanagement of Credit Line III resulted in funding for some companies with little to no experience in construction. They currently owe more than 2 billion pesos to Infonavit,” highlighted Octavio Romero. So far, 28 complaints have been filed with the Attorney General's Office (FGR) against developers, construction companies, notaries, former institute officials, and middlemen. Additionally, 3,380 investigation files are being created in a dedicated committee for this issue,” he added. The director also emphasized that, due to corrupt ties between authorities and officials, multiple loans were granted for the same property. This situation led to 373,000 workers being sued without prior notice, costing their savings over 29 billion pesos. Romero recalled the case of Telra Realty, which was hired to develop a housing solutions platform, failing to fulfill its 100 million peso contract yet still receiving a 5 billion peso compensation approved by the Board of Directors.
This scenario highlights the importance of strict regulation and proper oversight in the construction and housing finance sector. Corrupt practices and contract violations not only harm the economy of companies but also significantly affect the workers who rely on these systems to finance their homes. Transparency and accountability in managing money and contracts are essential to protect the interests of all parties involved.
