Pennsylvania Housing Finance Agency's (PHFA) ratings reflect: The agency's very strong asset base and good reserve position; Very strong financial performance, continued profitability, and stable equity levels; The very strong management team of the agency; The ability of the agency to demonstrate continued state support while exercising autonomy and independence; and The agency's ability to successfully meet its legislative mandate. PHFA's mandate is to finance mortgage loans for low-to-moderate income residents of the state, as evidenced by its asset base of approximately $3.73 billion, of which 73%, or $2.72 billion, are mortgage loans. PHFA continues to utilize its asset base to meet its legislative mandate of providing affordable housing for the state while at the same time managing its risk
