Illinois Housing Development Authority Revenue Bonds Series A2 Refunding 3% due 08/01/2023

Liquidità di Illinois Housing Development Authority Revenue Bonds Series A2 Refunding 3% due 08/01/2023

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Su Illinois Housing Development Authority Revenue Bonds Series A2 Refunding 3% due 08/01/2023

Illinois Housing Development Authority Revenue Bonds Series A2 Refunding 3% due 08/01/2023 are municipal revenue bonds issued by the Illinois Housing Development Authority (IHDA), a self-supporting state agency dedicated to financing affordable housing across Illinois. These bonds, part of the Revenue Bonds program under the general indenture, carry a 3% coupon and matured on August 1, 2023, serving as a refunding series to refinance prior obligations. Proceeds from IHDA's Revenue Bonds, including refunding series like this one, primarily fund the purchase or reimbursement of mortgage-backed securities (MBS) backed by Ginnie Mae, Fannie Mae, and Freddie Mac, supporting pools of qualifying mortgages for affordable single-family homes targeted at low- and moderate-income families in Illinois. Additional uses include second-lien loans for down payment or closing cost assistance, costs of issuance, and related fees, though such assistance loans are not pledged to the program. Secured equally by pledged revenues and assets like MBS, mortgage loans, and investments, these bonds feature a robust legal structure with high credit ratings from Moody's, reflecting strong collateral and IHDA's experienced oversight. As Social Bonds in many series, they promote inclusive homeownership programs, including fixed-rate mortgages, financial education, and targeted support for underserved communities, playing a vital role in state housing policy by channeling capital to socioeconomic advancement and affordable housing preservation.