Standard & Poor's today released its latest Industry Report Card: "State Housing Finance Agency Single-Family Programs Stable in Challenging Environment."
The report notes that with the aid of mortgage-backed securities provided by Ginnie Mae, Freddie Mac, and Fannie Mae, housing agencies have been able to weather the lowered ratings of mortgage insurance providers.
"The overall strength of HFA ratings is buoyed by federal liquidity support for variable-rate demand obligations, and thus, HFA credit performance is stabilizing," stated credit analyst Lawrence Witte.
The report is available to RatingsDirect subscribers on the Global Credit Portal at www.globalcreditportal.com and RatingsDirect subscribers at www.ratingsdirect.com. If you are not a RatingsDirect subscriber, you may purchase a copy of the report by calling (1) 212-438-7280 or sending an e-mail to
[email protected]. Ratings information can also be found on Standard & Poor's public Web site by using the Ratings search box located in the left column at www.standardandpoors.com. Members of the media may request a copy of this report by contacting the media representative provided.
Media Contact;
Ana Sandoval, New York (1) 212-438-5095,
[email protected]
Analyst Contacts:
Lawrence Witte, San Francisco (1) 415-371-5037
Valerie White, New York (1) 212-438-2078