Mortgage Revenue Bond History

    NORTEX Housing Finance Corporation has issued:

    Mortgage Revenue Bonds

    (Tax Exempt)
    1996 $13,750,000
    1998 $4,235,000
    1999A $15,000,000
    2002 $10,000,000
    2006 $15,370,000
    2009 $24,450,000
    Taxable Mortgage Revenue Bonds (2000) $10,000,000
    Recycling Bonds $30,000,000

    A taxable bond was utilized as a “bridge” to continue assistance between tax-exempt allocations. The recycling bond affords the opportunity to capture and recycle principal payments and prepayments from our tax-exempt mortgage revenue bonds. This can assist in the amount of future bonding authority.

    Operation for mortgage loans is ultimately dependent on the participation of local mortgage lending institutions. Participants have included: American National Bank, First Bank, First National Bank, First United, Herring National Bank, Prime West Mortgage, Wells Fargo

    Bond Ratings

    The complete total of revenue bonds issued has been $122,805,000. All of the bonds have been AAA rated and purchased by the Federal National Mortgage Association (Fannie Mae) or the Transamerica Life Insurance Company.

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