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Update on CHFA and Market
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January 2010
In October 2009, the Obama Administration announced a state and local housing finance agency (HFA) assistance initiative as part of its Homeowner Affordability and Stability Plan, to provide temporary aid to strengthen the weakened housing capital markets. Through the plan, the US Treasury Department in conjunction with the Federal Housing Finance Agency, Fannie Mae and Freddie Mac, have invested in new bonds and provided replacement liquidity, both of which will jumpstart the housing finance market.
The program had very tight timeframes, yet was of such significant importance to supporting new mortgage revenue bonds and providing replacement liquidity to support variable rate debt, CHFA made participation a priority. Our expertise allowed us to access the resources within the timeframes to benefit all Coloradans. CHFA was one of 90 state and local HFAs to participate from around the nation, and one of only two in Colorado (the other being El Paso County). CHFA’s resources under the plan will allow us to expand our programs targeted at first time homebuyers throughout the state, offering them even more competitive interest rates. The program will retain the option for a second mortgage to cover downpayment and closing costs. The program will launch in the first quarter of 2010 and is expected to serve up to 1,800 first time homeowners.
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Update Archive
S&P Bond Rating Notice
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