Standard&Poor's Rating Services assigned its 'AAA' rating to New Mexico Mortgage Finance Authority's multifamily housing revenue bonds (FHA/HFA Risk Sharing Program), series 2005E and federally taxable series 2005F, issued for the Sun Pointe Park Apartments project. The 'AAA' rating on the bonds reflects: The extremely strong mortgage collateral backed by FHA pursuant to its risk share program, which guarantees payment of the balance of the mortgage note with interest at the mortgage rate in the event the borrower fails to make payments; The sufficiency of debt service reserve funds sized at six months' maximum debt service on the bonds; The sufficiency of mortgage revenues and investment earnings to pay full and timely debt service on the bonds until
