The 'AAA' long-term rating on Colorado Housing and Finance Authority's (CHFA) series 2000B class I multifamily project bonds is based upon: A mortgage collateral pledge of five fully amortizing loans for multifamily properties in Colorado, FHA insurance under section 542(c) on all five loans, CHFA's strong historical oversight and asset management of properties in their portfolio, A debt service reserve funded at eight months' maximum loan principal and interest on the five 2000B loans, and Overcollateralization in the general indenture of approximately 31% at the 'AAA' level. The 'A-1' short-term rating on the variable-rate bonds reflects a standby bond purchase agreement (SBPA) provided by the Federal Home Loan Bank of Topeka ('AAA/A-1+'), which provides liquidity support for the bonds. The
