Summary: Colorado Housing&Finance Authority; Single Family Whole Loan

S&P Global Ratings assigned its 'AAA' long-term rating to the Colorado Housing&Finance Authority's (CHFA) 2018 series A and series B-1 single-family mortgage class I bonds, and its 'AA/A-1+' dual rating to CHFA's 2018 series B-2 single-family mortgage class II adjustable rate bonds. At the same time, S&P Global Ratings affirmed its 'AAA' and 'AA' ratings on all outstanding class I and class II bonds, respectively, under the indenture. Where applicable, the outlook is stable. The ratings reflect our opinion of the indenture's following strengths: Substantial over-collateralization at 118.8% on the class I bonds, and 110% on the class II bonds; A loan portfolio of very strong credit quality, with more than 75.7% of total outstanding loan balance guaranteed

...S&P Global Ratings assigned its '###' long-term rating to the Colorado Housing & Finance Authority's (CHFA) 2018 series A and series B-1 single-family mortgage class I bonds, and its '##/A-1+' dual rating to CHFA's 2018 series B-2 single-family mortgage class II adjustable rate bonds. At the same time, S&P Global Ratings affirmed its '###' and '##' ratings on all outstanding class I and class II bonds, respectively, under the indenture. Where applicable, the outlook is stable. The ratings reflect our opinion of the indenture's following strengths: + Substantial over-collateralization at 118.8% on the class I bonds, and 110% on the class II bonds; + A loan portfolio of very strong credit quality, with more than 75.7% of total outstanding loan balance guaranteed by the U.S. government, and private mortgage insurance on 8.8%, while the remaining have loan-to-value ratios (LTVs) of less than 80%; + Sufficiency of reserves to cover potential credit and liquidity shortfalls, with adjusted asset-to-liability...

Summary