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

S&P Global Ratings assigned its 'AAA/A-1' dual rating to the Colorado Housing&Finance Authority's (CHFA) taxable single-family mortgage Class I adjustable rate bonds, and to the authority's 2001 series AA-1 and single-family mortgage Class I adjustable rate bonds, 2017 series E. Additionally, we affirmed all ratings on the outstanding class I and class II bonds within the indenture. The outlook, where applicable, 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 very strong loan portfolio, with 72% of the total outstanding loan balance guaranteed by the U.S. government, 8% by private mortgage insurance, and the remaining

...S&P Global Ratings assigned its '###/A-1' dual rating to the Colorado Housing & Finance Authority's (CHFA) taxable single-family mortgage Class I adjustable rate bonds, and to the authority's 2001 series ##-1 and single-family mortgage Class I adjustable rate bonds, 2017 series E. Additionally, we affirmed all ratings on the outstanding class I and class II bonds within the indenture. The outlook, where applicable, 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 very strong loan portfolio, 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...

Summary