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

S&P Global Ratings affirmed its 'AA+' long-term rating and underlying rating (SPUR) on North Carolina Housing Finance Agency's (NCHFA) home ownership revenue parity resolution, issued under the 1998 trust agreement (the 1998 bonds). At the same time, S&P Global Ratings affirmed its 'AA' long-term rating on NCHFA's home ownership revenue bonds issued under the 2009 trust agreement (the 2009 New Issue Bond Program, or NIBP, bonds) and the U.S. Treasury's new issue bond program. The outlook is stable. Our review follows a comprehensive analysis of NCHFA's 1998 and 2009 trust agreements and its related legal and program provisions, including its policies as an issuer, its oversight as self-servicer, and responsibilities of key transaction participants. NCHFA established its main single-family homeownership

...S&P Global Ratings affirmed its '##+' long-term rating and underlying rating (SPUR) on North Carolina Housing Finance Agency's (NCHFA) home ownership revenue parity resolution, issued under the 1998 trust agreement (the 1998 bonds). At the same time, S&P Global Ratings affirmed its '##' long-term rating on NCHFA's home ownership revenue bonds issued under the 2009 trust agreement (the 2009 New Issue Bond Program, or NIBP, bonds) and the U.S. Treasury's new issue bond program. The outlook is stable. Our review follows a comprehensive analysis of NCHFA's 1998 and 2009 trust agreements and its related legal and program provisions, including its policies as an issuer, its oversight as self-servicer, and responsibilities of key transaction participants. NCHFA established its main single-family homeownership bond indenture in 1998, and all indenture bonds are on parity. As of March 31, 2020, mortgage-backed securities (MBS) totaling $926 million accounted for approximately 76% of the loan portfolio...

Summary