SONYMA Bonds Receive Strong Rating Under William Mulrow

Moody’s Investor Services has declared an Aa1 ranking for the State of New York Mortgage Agency’s Homeowner Mortgage Revenue Bonds in Series 178, 179 and 180. The rating comes in part due to the program’s strong asset-to-debt ratio, stable profitability, sound portfolio composition, cushioned mortgage insurance provisions and secure cash flow projections. Moody’s press release gives special mention to the program’s “sophisticated and highly experienced staff.” The SONYMA bonds affected by this rating carry a value of $126 million. In 2012, New York’s Governor had appointed William Mulrow to be Chairman of the Board for SONYMA.