2009 Series D Bond Issue

Submitted by Anonymous on Wed, 01/13/2010 - 11:06am
Memo Subject: 
2009 Series D Bond Issue
Memo Date: 
09/11/2009 (All day)
Memo No.: 
09-08

MFA has priced the 2009 Series D 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 D 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 Plus

Mortgage$aver Zero

Mortgage$aver

Albuquerque MSA
(Bernalillo, Sandoval Torrance & Valencia Counties)

$13,125,000

$20,625,000

$3,750,000

Non-Albuquerque
(All other Counties)

$4,375,000

$6,875,000

$1,250,000

Details for 2009 Series A Bond Issue

Program
Rate
Discount Point
Origination Fee
Mortgage$aver:
5.21%
1%
1%
Mortgage$aver Zero:
5.71%
0%
0%
Mortgage$aver Plus:
6.26%
0%
0% + (3% Grant)
Mortgage Booster:
5.71%
 
$100 fee may be charged by Lender
Tax Credit Loan Program:
5.71%
$200 fee charged by MFA at closing - cannot be included in the Loan amount

Master Servicers:

Mortgage$aver, Mortgage$aver Zero and Mortgage$aver Plus:

  • Charter Bank and US Bank - f or each first mortgage loan reserved on our website ( www.housingnm.org ), you may select the Master Servicer of your choice.
  • Servicing Release Premiums :

Charter Bank:          Higher of 1.67% or $750 - All eligible loan types

US Bank:                 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 Friday, September 11, 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) is the program document that notifies the terms and conditions for funding MFA mortgage loans to Participating Lenders. 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: 

Mortgage$aver

Mortgage Booster

Tax Credit Loan Program: