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 D single-family mortgage class I bonds. At the same time, we affirmed our 'AAA' and 'AA' long-term ratings and various short-term ratings on all outstanding class I and class II bonds, respectively. Where applicable, the outlook is stable. The ratings reflect our opinion of the indenture's following strengths: Substantial overcollateralization as evidenced by the 118.7% asset-to-liability parity on the class I bonds as of May 1, 2018; A loan portfolio of very strong credit quality, with 72% of the total outstanding loan balance guaranteed by the U.S. government, 8% by private mortgage insurance, and the remaining with loan-to-value ratios (LTVs) of less

...S&P Global Ratings assigned its '###' long-term rating to the Colorado Housing & Finance Authority's (CHFA) 2018 series D single-family mortgage class I bonds. At the same time, we affirmed our '###' and '##' long-term ratings and various short-term ratings on all outstanding class I and class II bonds, respectively. Where applicable, the outlook is stable. The ratings reflect our opinion of the indenture's following strengths: + Substantial overcollateralization as evidenced by the 118.7% asset-to-liability parity on the class I bonds as of May 1, 2018; + A loan portfolio of very strong credit quality, with 72% of the total outstanding loan balance guaranteed by the U.S. government, 8% by private mortgage insurance, and the remaining with loan-to-value ratios (LTVs) of less than 80%; + Sufficiency of reserves to cover potential credit and liquidity shortfalls, with adjusted asset-to-liability parity of 113.2% for the class I bonds and 107.8% for the class II bonds; + High-quality investments;...

Summary