California Housing Finance Agency $5.7 Billion in Bonds Downgraded.

Bond Buyer story says: 

Moody's Investors Service downgraded the long-term underlying rating on the California Housing Finance Agency's home mortgage revenue bonds to Baa1 from A3, affecting $5.7 billion of outstanding debt.The rating agency said the drop is mainly a result of the downgrade to Ba1 last month of Genworth Mortgage Insurance Corp., which has reinsured more than 40% of CalHFA's single-family mortgage loans that are pledged as repayment for the revenue bonds.

For those with a Multnomah County library card the full June 8th Bond Buyer story can be located HERE; it will require sign in with library card number and PIN. (Well worth effort, lots of good research materials available on line).

Originally created and posted on the Oregon Housing Blog.

Florida HFA Seek Comments on Paper That Compares Job Creation of New Construction vs. Rehab/Preservation.

Thanks to Novogradac for tip. Florida HFA paper for comment by FEB 17th can be found HERE. 

From Novogradac summary: 

The white paper examines whether constructing new LIHTC developments or preserving existing developments creates more jobs. FHFC found that new construction creates, on average, 340 jobs per property whereas each preservation project creates 217 jobs. When considering the amount of tax credits needed for a project, the study also found that FHFC can fund an estimated 22 preservation developments to create 4,772 jobs versus an estimated 12 new construction developments, which create 4,079 jobs. FHFC will accept comments on the draft until 5 p.m. February 17 and anticipates releasing the final version of the white paper at the end of this week.

Originally created and posted on the Oregon Housing Blog.

Treasury Allocation for HFA Bond Programs Totals $29 Billion; Oregon Gets 78% of Request.

Washington Post news story is HERE.
Oregon received 78% ($234 Million) of it's requested amount of $300 Million.
An Excel spreadsheet with all of the requests and amounts allocated is HERE.

Originally created and posted on the Oregon Housing Blog.

HFA Bond Program Reportedly Over Subscribed; Deadline for Release Of Requested Amounts Apparently Missed.

Bond Buyer story via National Mortgage News is HERE.

Prior guidance had been that HFA participation amounts would be released this week; as of Saturday 11 AM Eastern time those amounts are no where to be seen on Treasury or NCSHA websites. If Treasury missed their own stated date for release of requested amount and if future stories confirm that requested amounts were cut back, this could erode the credibility of the program.

Originally created and posted on the Oregon Housing Blog.