Summary: Southern California Home Financing Authority; Single Family Multiple MBS May 08
- ID: 2029557
- May 2008
- Region: California
- Standard & Poors
Standard & Poor's Ratings Services affirmed its 'AAA' rating on Southern California Home Financing Authority's (SCHFA) single-family mortgage revenue bonds series 2001 A-1 and 2001 A-3. The bonds are secured by Ginnie Mae mortgage-backed securities and Fannie Mae pass-through certificates. The rating continues to reflect: The sufficiency of revenues from mortgage debt service payments and investment earnings to pay full and timely debt service on the bonds until maturity, Extremely strong investment quality, and An asset-to-liability ratio of 105.45% as of Dec. 27, 2007. The rating reflects the strong credit quality of the assets and credit support underlying the issue. The assets consist of Ginnie Mae guaranteed mortgage-backed securities and Fannie Mae pass-through certificates, which are 'AAA' eligible under Standard...
Companies mentioned in this report are: Southern California Home Fin Auth
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