Infonavit, Mexico’s lending mortgage lender, has decided to distribute between 475,000 to 525,000 credits in 2010, as the country recovers from a deep recession period.

Infonavit is a government-backed institution and it saves and lends money on behalf of Mexican workers.

While talking to reporters, chief executive of the company, Victor Borras said, “Company expects to lend a total of 145 billion pesos in 2010.”

In 2009, the company had already handed out around 450,000 mortgages as the monetary slump and rising unemployment led fewer Mexicans to buy homes.

Further, the CEO said, “The Mexican housing industry managed to withstand, not without costs, one of the worst economic crises ever faced, thanks to strength built over the past decade.”

The company’s goals are key to the enlargement of lending Mexican house builders including Homex and Geo, most of its clients are dependant upon the lender for their mortgages.

In 2009, the company had lifted around 11 billion pesos through mortgage-backed debt placements