Memorandum
| TO:
|
All Eligible and Participating Lenders |
| FROM:
|
Erik Nore Homeownership Department Manager |
| DATE:
|
October 30, 2007 |
| RE:
|
Memo No. 07-11 |
2007 Series E Bond Issue
MFA has priced the 2007 Series E Bond Issue at the interest rates and dollar amounts as specified below. $62,458,507 will be available for the Mortgage$aver, Mortgage$aver Xtra, Mortgage$aver Zero and Mortgage$aver Plus programs. Funds for the Mortgage$aver, Mortgage$aver Xtra, Mortgage$aver Zero and Mortgage$aver Plus programs will be allocated among the Albuquerque MSA (Bernalillo, Valencia, Torrance and Sandoval counties) and all other areas of the state as indicated in the following table:
| . |
Mortgage$aver |
Mortgage$aver
Zero |
Mortgage$aver Plus |
Mortgage$aver Xtra |
| Albuquerque MSA (Bernalillo, Sandoval, Torrance & Valencia Counties) |
$5,958,538 | $13,944,090 | $23,191,252 | $5,000,000 Statewide |
| Non-Albuquerque (All other Counties) |
$ 1,986,180 | $ 4,648,030 | $ 7,730,417 | See Above |
Details for 2007 Series B Bond Issue
| Program
|
Interest
Rate |
Discount
Point |
Origination
Fee |
| Mortgage$aver Xtra | 5.04% |
1% |
1% |
| Mortgage$aver | 5.54% |
1% |
1% |
| Mortgage$aver Zero | 5.84% |
0% |
0% |
| Mortgage$aver Plus | 6.29% |
0% |
0% |
| Mortgage Booster | 6.04% |
$100 fee may be charged |
|
Master Servicers:
1. Mortgage$aver, Mortgage$aver Zero and Mortgage$aver Plus program:
- Countrywide Home Loans and CitiMortgage Inc.
- For each Mortgage$aver loan reserved on our website (www.housingnm.org), you may select the Master Servicer of your choice.
- Servicing Release Premiums:
Higher of 1.85% or $750 - All eligible loan types Higher of 1.85% 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, October 30, 2007. 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:
Thank you for participating in MFA’s program. Should you have any questions, please contact an MFA Homeownership Representative at 1-800-444-6880 or 505-843-6880.