Summary: Iowa Finance Authority; Single Family Multiple MBS

S&P Global Ratings assigned its 'AAA' long-term rating to the Iowa Finance Authority's (IFA) 2021 series B and series C single-family mortgage bonds (mortgage-backed securities, or MBS, program). At the same time, S&P Global Ratings affirmed its 'AAA' long-term rating and 'AAA/A-1+' rating on debt outstanding under the authority's MBS program. The long-term rating reflects our opinion of the very strong credit quality of the single-family mortgage collateral. The outlook is stable. The authority will use 2021 series B and series C bond proceeds totaling approximately $96.29 million to acquire Ginnie Mae, Fannie Mae, or Freddie Mac-guaranteed MBS, backed by pools of mortgage loans which have been or are expected to be made by participating lenders to qualified persons in

...S&P Global Ratings assigned its '###' long-term rating to the Iowa Finance Authority's (IFA) 2021 series B and series C single-family mortgage bonds (mortgage-backed securities, or MBS, program). At the same time, S&P Global Ratings affirmed its '###' long-term rating and '###/A-1+' rating on debt outstanding under the authority's MBS program. The long-term rating reflects our opinion of the very strong credit quality of the single-family mortgage collateral. The outlook is stable. The authority will use 2021 series B and series C bond proceeds totaling approximately $96.29 million to acquire Ginnie Mae, Fannie Mae, or Freddie Mac-guaranteed MBS, backed by pools of mortgage loans which have been or are expected to be made by participating lenders to qualified persons in order to finance single-family residential housing in the state of Iowa; to finance down payment assistance; and refund certain prior bonds of the authority within its 2009 indenture. IFA will secure the 2021 series B and...

Summary