Summary: Pennsylvania Hsg Fin Agy; Housing, Single Family Whole Loan Mar 06
- ID: 1755034
- March 2006
- Region: Pennsylvania
- Standard & Poors
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
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