The rating on Colorado Housing Finance Authority (CHFA) reflects the strength of the FHA-insured mortgage loans as evidenced by the strong performance of the consolidated cash flows, sufficient reserve levels, good investments, and strong oversight of the resolution by CHFA. The positive outlook reflects the expected continuation of financial strength for the resolution. The series 1998A bonds are on parity with all series under the multifamily housing insured mortgage revenue bonds resolution. All series are equally and ratably secured. Bond proceeds, which total about $20.5 million, will be used to acquire mortgages insured under 542(c) and 221 (d) (4) of the National Housing Act for the construction or rehabilitation of multifamily rental properties. The bond issue will also fund a
