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Summary: Pennsylvania Hsg Fin Agy; Housing, Single Family Whole Loan Mar 06 Product Image

Summary: Pennsylvania Hsg Fin Agy; Housing, Single Family Whole Loan Mar 06

  • ID: 1755034
  • March 2006
  • Region: Pennsylvania
  • Standard & Poors

FEATURED COMPANIES

  • Pennsylvania Hsg Fin Agy
  • MORE

Abstract
The rating on Pennsylvania Housing Finance Agency's (PHFA) series 2006-92 bonds reflects: Very strong financial performance of the resolution; Very strong loss coverage protection provided by the agency's leveraged self-insurance fund covering estimated loan losses at 'AA' rating level; Very strong quality of the single-family mortgage collateral, including primarily conventional and FHA-insured mortgages; and Investments commensurate with the rating on the bonds. Bond proceeds, along with an agency contribution from available funds in the indenture, will provide funds to originate new single-family mortgage loans, and pay assorted costs of issuance. Approximately $125 million will be used to purchase new single-family loans. The loan portfolio of approximately 38,860 mortgages contains mainly conventional loans (55.14%), and FHA-insured loans (38.05%), with small amounts...

Companies mentioned in this report are:
- Pennsylvania Hsg Fin Agy

Action: Affirmed

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- Pennsylvania Hsg Fin Agy

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