The ratings on Colorado Housing and Finance Authority's bonds reflects: * Very strong asset-to-liability parity positions, * The very high credit quality of the mortgage loan collateral, * Fully funded reserves assuring adequate liquidity, * Delinquency and foreclosure rates in line with Mortgage Bankers Association (MBA) statistics, and * Investments supporting the ratings on the bonds. All bond series reviewed continue to perform well since their last review in 1997. Excess assets over liabilities continues to increase for all series. For all upgraded series excess assets over liabilities have increased significantly since the last review in 1997. All single-family whole loan series issued through 1992 have the same senior/subordinate structure, whereby loan loss protection for the senior bonds is provided
