2009 Series C Bond Issue
MFA has priced the 2009 Series C Bond Issue at the interest rates and dollar amounts as specified below. $50,000,000 will be available for the Mortgage$aver, Mortgage$aver Zero and Mortgage$aver Plus programs.
Due to extraordinary market conditions and the subsequent cost to obtain funds with acceptable mortgage rates, Mortgage$aver Xtra and HERO First/HERO DPA funds will not be available for reservation on 2009 Series C Bond Issue.
Funds for the Mortgage$aver, Mortgage$aver Zero and Mortgage$aver Plus programs will be allocated among the Albuquerque MSA and all other areas of the state as indicated in the following table:
| . |
Mortgage$aver
|
Mortgage$aver Zero
|
Mortgage$aver Plus
|
| Albuquerque MSA (Bernalillo, Sandoval, Torrance & Valencia Counties) |
$13,125,000 | $18,750,000 | $5,625,000 |
| Non-Albuquerque (All other Counties) |
$4,375,000 | $6,250,000 | $1,875,000 |
Details for 2009 Series C Bond Issue
|
Program
|
Interest Rate
|
Discount Point
|
Origination Fee
|
| Mortgage$aver |
5.25%
|
1%
|
1%
|
| Mortgage$aver Zero |
5.75%
|
0%
|
0%
|
| Mortgage$aver Plus |
6.30%
|
0%
|
0% (3% grant)
|
| Mortgage Booster |
5.75%
|
$100 fee may be charged
|
|
| Tax Credit Loan |
5.75%
|
$200 fee may be charged - cannot be included in the loan amaount
|
|
Master Servicers:
1. Mortgage$aver, Mortgage$aver Zero, Mortgage$aver Plus:
- Charter Bank and US Bank
- For each Mortgage$aver loan reserved on our website (www.housingnm.org/online-reservations), you may select the Master Servicer of your choice.
- Servicing Release Premiums:
Higher of 1.67% or $750 - All eligible loan types Higher of 1.69% or $750 - All eligible loan types Master Servicer Administration and Tax Service Fees: $80 tax service fee
We will be accepting reservations via MFA's on-line reservation system at 12:00 pm Tuesday, July 14, 2009. All reservations are on a first-come, first-served basis. No verbal or phone status will be provided. You may access the on-line reservation system via MFA's web site: www.housingnm.org.
The Notice of Funding Availability (NOFA) are the program documents that notify the participating lenders the terms and conditions for funding MFA mortgage loans. Please refer to the NOFA’s for all program information. The NOFA’s for the following MFA loan programs can be found in the following links:
