Summary: North Carolina Housing Finance Agency; Single Family Multiple MBS; Single Family Whole Loan

S&P Global Ratings assigned its 'AA+' long-term rating to North Carolina Housing Finance Agency's (NCHFA) series 43 home ownership revenue bonds (the 1998 trust agreement). At the same time, S&P Global Ratings affirmed its 'AA+' long-term rating and underlying rating (SPUR) on NCHFA's home ownership revenue parity debt (the 1998 trust agreement) resolution. The outlook is stable. The rating reflects our opinion of NCHFA's: Fannie Mae (FNMA) and Ginnie Mae (GNMA) mortgage-backed-securities (MBS) portfolios, representing approximately 70% of loan balance outstanding; Very strong asset-to-liability (A/L) parity ratio of 134% in consolidated cash flows, and 132% adjusted A/L parity after estimated losses on program whole loans; Very strong credit quality of its remaining single-family whole-loan portfolio, with roughly 94% of loans

...S&P Global Ratings assigned its '##+' long-term rating to North Carolina Housing Finance Agency's (NCHFA) series 43 home ownership revenue bonds (the 1998 trust agreement). At the same time, S&P Global Ratings affirmed its '##+' long-term rating and underlying rating (SPUR) on NCHFA's home ownership revenue parity debt (the 1998 trust agreement) resolution. The outlook is stable. The rating reflects our opinion of NCHFA's: + Fannie Mae (FNMA) and Ginnie Mae (GNMA) mortgage-backed-securities (MBS) portfolios, representing approximately 70% of loan balance outstanding; + Very strong asset-to-liability (A/L) parity ratio of 134% in consolidated cash flows, and 132% adjusted A/L parity after estimated losses on program whole loans; + Very strong credit quality of its remaining single-family whole-loan portfolio, with roughly 94% of loans either guaranteed by the U.S. government or with a loan-to-value ratio below 80%, as well as delinquencies below state and national averages; + Sufficient...

Summary