Moody's Investors Service (Moody's) has assigned a Aaa rating to the proposed $22,538,000 Colorado Housing and Finance Authority, Multifamily Taxable Mortgage-backed Securities (M-TMBS) (Sunlight Crossing), Series 2020 (FN)(hereinafter the "M-TMBS" or "bonds"). The Aaa rating of this forward M-TMBS transaction is based on the high credit quality of the Federal National Mortgage Association (Fannie Mae, Aaa stable) mortgage-backed security (MBS) and strong legal structure where principal and interest are passed through to bondholders monthly. Fannie Mae is providing a forward commitment to guaranty the permanent financing by issuing the MBS after the construction phase is complete.
Moody's Investors Service (Moody's) has assessed J.P. Morgan Mortgage Acquisition Corp. as an Average aggregator of prime jumbo residential mortgage loans. The assessment represents a one notch decrease from the previous overall assessment of Above Average. The one notch decrease in the overall assessment was driven by a decrease in our assessment of valuation practices which went from Average to Below Average and credit risk management which decreased from Above Average to Average.
Moody's Investors Service has assigned an Aaa rating to Ohio Housing Finance Agency, OH's (OHFA) $100 million Residential Mortgage Revenue Bonds (Mortgage-Backed Securities Program) 2020 Series B (Non-AMT). Moody's Investors Service also maintains the Aaa rating on approximately $1145 million of outstanding parity bonds as of June 30, 2020. The Aaa ratings assigned to the 2020 Series B Bonds reflect the high quality collateral comprised of GNMA, Fannie Mae and Freddie Mac Mortgage-Backed Securities (MBS), the 1.17x program asset-to-debt ratio (as of 6/30/19) and the program's strong historical financial performance.