Standard&Poor's Ratings Services affirmed its 'AA+' long-term rating on Southern California Home Financing Authority's (SCHFA) single-family mortgage revenue bonds series 2001A-1 and 2001A-3. The outlook is negative. The bonds are secured by Ginnie Mae mortgage-backed securities and Fannie Mae pass-through certificates. The rating continues to reflect our view of: The sufficiency of revenues from mortgage debt service payments and investment earnings to pay full and timely debt service on the bonds until maturity; Extremely strong investment quality; and An asset-to-liability ratio of 132.48% as of April 25, 2012. The rating also reflects the sovereign rating on the United States (AA+/Negative). Should the sovereign rating on the United States be upgraded to 'AAA' and the bond program meet all
