Summary: Tennessee Housing Development Agency; Single Family Multiple MBS; Single Family Whole Loan

S&P Global Ratings assigned its 'AA+' rating to the Tennessee Housing Development Agency's (THDA) proposed $99.99 million issue 2021-2 (non-AMT) social bonds issued under THDA's 2013 general residential finance program bond resolution (the 2013 general resolution). S&P Global Ratings also affirmed its 'AA+' rating on THDA's existing debt, issued under the 2013 general resolution. The outlook is stable. Officials intend to use issue 2021-2 bond proceeds to purchase first-lien, 30-year, fully amortizing, single-family program loans for single-family, owner-occupied housing; pay capitalized interest, if any, and issuance costs; and fund the 3% bond reserve fund, if required. This is the 27th issue under the 2013 general resolution, adopted on Jan. 29, 2013, which had approximately $2.74 billion of fixed-rate debt outstanding

...S&P Global Ratings assigned its '##+' rating to the Tennessee Housing Development Agency's (THDA) proposed $99.99 million issue 2021-2 (non-AMT) social bonds issued under THDA's 2013 general residential finance program bond resolution (the 2013 general resolution). S&P Global Ratings also affirmed its '##+' rating on THDA's existing debt, issued under the 2013 general resolution. The outlook is stable. Officials intend to use issue 2021-2 bond proceeds to purchase first-lien, 30-year, fully amortizing, single-family program loans for single-family, owner-occupied housing; pay capitalized interest, if any, and issuance costs; and fund the 3% bond reserve fund, if required. This is the 27th issue under the 2013 general resolution, adopted on Jan. 29, 2013, which had approximately $2.74 billion of fixed-rate debt outstanding at July. 31, 2021. All existing bonds are on parity with each other. The 2013 general resolution includes whole-loan mortgages totaling approximately $2.6 billion at July...

Summary