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Summary: Southern California Home Fin Auth; Housing, Single Family Multiple MBS Oct 03
Standard & Poors, October 2003
The 'AAA' rating on Southern California Home Finance Authority's single-family mortgage bonds series 2000B-1B and 2000B-TB has been affirmed. The rating continues to reflect: Assets consisting of Ginnie Mae mortgage-backed securities; payments on which are backed by the full faith and credit of the U.S.; Sufficiency of revenues on the Ginnie Mae payments and investment earnings to pay full and timely debt service on the bonds until maturity; The quality of permitted investments; and An asset-to-liability ratio of 104.11% as of Oct. 6, 2003. The rating reflects the strong credit quality of the assets and credit support underlying the issue. The assets consist of Ginnie Mae guaranteed mortgage pass-through certificates, which guarantee timely payment of principal and interest on the...
Companies mentioned in this report are: Southern California Home Fin Auth
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Southern California Home Fin Auth