Massachusetts Housing Finance Agency Revenue Bond Outlook Revised To Positive On Portfolio's Very Strong Credit Quality

NEW YORK (Standard&Poor's) Nov. 16, 2015--Standard&Poor's Ratings Services revised its outlook to positive from stable and affirmed its 'AA' long-term rating and underlying rating (SPUR) on Massachusetts Housing Finance Agency's (MassHousing) outstanding bonds, issued under its single-family housing revenue bonds (SFHRB) resolution. At the same time, Standard&Poor's assigned its 'AA' rating to the agency's SFHRB, series 178, 179, and 180. "The positive outlook reflects our opinion of the very strong credit quality of the loan portfolio, which has strengthened due to the agency's continued control of write-offs on foreclosed loans, along with the purchase of Fannie Mae mortgage-backed securities, over the past several years," said Standard&Poor's credit analyst Karen Fitzgerald. Bond proceeds

...NEW YORK (Standard & Poor's) Nov. 16, 2015--Standard & Poor's Ratings Services revised its outlook to positive from stable and affirmed its '##' long-term rating and underlying rating (SPUR) on Massachusetts Housing Finance Agency's (MassHousing) outstanding bonds, issued under its single-family housing revenue bonds (SFHRB) resolution. At the same time, Standard & Poor's assigned its '##' rating to the agency's SFHRB, series 178, 179, and 180. "The positive outlook reflects our opinion of the very strong credit quality of the loan portfolio, which has strengthened due to the agency's continued control of write-offs on foreclosed loans, along with the purchase of Fannie Mae mortgage-backed securities, over the past several years," said Standard & Poor's credit analyst Karen Fitzgerald. Bond proceeds will be applied by MassHousing to finance approximately $100 million in new mortgage loans either through the purchase of MBS that are backed by such mortgage loans or through the direct purchase...

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