Summary: New Jersey Housing and Mortgage Finance Agency; Joint Criteria; Multifamily Whole Loan May 12
Standard & Poors, May 2012
Abstract
Standard & Poor's Ratings Services assigned its 'A+' long-term rating to the New Jersey Housing and Mortgage Finance Agency's (NJHMFA) series 2012A-F multifamily housing revenue bonds. Standard & Poor's also affirmed its 'A+' and 'AAA' ratings on all of NJHMFA's other previously issued debt under the 2004 multifamily resolution. The outlook on all ratings is stable. The 'A+' rating reflects our view of: The quality and anticipated performance of the mortgage pool, which includes Federal Housing Administration-insured mortgages, mortgages that have the benefit of Section 236 and Section 8 programs, and unsubsidized mortgages; Investments commensurate with our criteria requirements; Quality of underwriting, oversight, and surveillance performed by NJHMFA; and Sufficient assets to cover our stress losses on this portfolio at...
Companies mentioned in this report are: New Jersey Hsg & Mtg Fin Agy
Action: Affirmed
Action: New Rating
Action: Outlook: Stable
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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
New Jersey Hsg & Mtg Fin Agy
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