...This report describes the factors Fitch Ratings considers in rating state housing finance agency (SHFA)-sponsored mortgage insurance or guarantee fund programs. It represents a program-specific extension to Fitch Research on "Revenue-Supported Rating Criteria," dated June 2014, available on Fitch's website at www.fitchratings.com. This report identifies factors considered by Fitch in assigning ratings to SHFA-sponsored mortgage insurance or guarantee fund programs within the scope of the criteria. Not all rating factors outlined in this report may apply to each individual rating or rating action. Each specific rating action commentary or rating report will discuss those factors most relevant to the individual rating action....
