Summary: Minnesota Housing Finance Agency; General Obligation; Single Family Multiple MBS; Single Family Whole Loan

S&P Global Ratings assigned its 'AA+' long-term rating to the Minnesota Housing Finance Agency's (MHFA, or the agency) approximately $11 million residential housing finance bonds (RHFBs), 2023 series N (AMT); $49 million RHFB 2023 series O (non-AMT); and $60 million RHFB 2023 series P (taxable) bonds. At the same time, S&P Global Ratings assigned its 'AA+/A-1+' dual rating to the agency's $30 million RHFB, 2023 series Q (taxable) (social bonds). Finally, S&P Global Ratings affirmed its 'AA+' long-term rating and 'AA+/A-1+' and 'AA+/A-1' dual ratings on the agency's previously issued RHFBs. The outlook, where applicable, is stable. Bond proceeds, program obligations, investment obligations, revenue, and other assets held under the bond resolution secure the RHFBs. The bonds are also general

...Bond proceeds, program obligations, investment obligations, revenue, and other assets held under the bond resolution secure the RHFBs. The bonds are also general obligations (GOs) of MHFA, payable out of any of its generally available money, assets, or revenue, subject only to the provisions of other resolutions or indentures pledging or appropriating particular money, assets, or revenue to particular notes or bonds, and subject to any state or federal restrictions. The 2023 series N, 2023 series O, 2023 series P, and 2023 series Q bond proceeds will be used, along with certain contributed funds of the agency, to continue funding the residential housing finance program by purchasing program mortgage-backed securities (MBS) that are guaranteed as to timely payment of principal and interest by Ginnie Mae, Fannie Mae, or Freddie Mac, and backed by pools of mortgage loans from participating lenders to qualified persons or families of low and moderate income to finance the purchase of single-family...

Summary