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Summary: Massachusetts Hsg Fin Agy; Housing, Single Family Whole Loan Nov 03 Product Image

Summary: Massachusetts Hsg Fin Agy; Housing, Single Family Whole Loan Nov 03

  • ID: 1785412
  • November 2003
  • Region: Massachusetts
  • Standard & Poors

FEATURED COMPANIES

  • Massachusetts Hsg Fin Agy
  • MORE

Abstract
The rating on Massachusetts Housing Finance Agency's (MHFA) single-family housing program reflects: The strong credit quality of the single-family loan portfolio, Cash flows indicating a significant strengthening of the indenture's parity position over time, Sufficiency of reserves to provide liquidity for delinquent mortgage loans, Fully funded loss coverage at the 'AA' level, Credit quality of investments under the resolution, and The agency's top-tier designation. The short-term rating on the notes reflects the investment of note proceeds in investments commensurate with the ratings. Note proceeds will not be used to originate mortgage loans under the resolution until the issuance of refunding bonds, which will provide permanent financing. If refunding bonds are not issued, proceeds from the investments will be used to...

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

Action: New Rating

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