The Florida Housing Finance Corporation's ("Florida Housing") is expected to come to market with $175 million in Homeowner Mortgage Revenue 2018 Series 2 Bonds ("the Bonds").
The proceeds Bonds will be used to: (i) finance, purchase or acquire, along with other funds available to Florida Housing, Mortgage-Backed Securities guaranteed by the Government National Mortgage Association ("GNMA"), the Federal National Mortgage Association ("Fannie Mae"), or the Federal Home Loan Mortgage Corporation ("Freddie Mac") and backed by first-lien mortgage loans made to eligible persons or families to finance the purchase of single family, owner-occupied residences, which satisfy the Series Program Determinations set forth in the Supplemental Indenture, in order to effectuate Florida Housing's public purpose of providing safe and sanitary affordable housing, and (ii) make deposits in other Funds and Accounts. See the Preliminary Official Statement for further details.
The Bonds are limited obligations of Florida Housing and are payable solely from the Trust Estate pledged pursuant to the Indenture. The Bonds shall not constitute an obligation, either general or special, of the state of Florida, or any agency or local goverment. Neither the faith, revenues, credit, nor taxing power of the state or any agency or local government is pledged to the payment of the Bonds. Florida Housing has no taxing power.
The Bonds are subject to redemption, including optional redemption, mandatory sinking fund redemption and special redemption, in whole or in part, prior to their state maturities as described in the Preliminary Official Statement.
The bond sale offers attractive benefits to individual investors including prices and yields that match those available to institutional investors, the potential for stable income through the call dates, and federal tax-exemption on the bond coupon payments.
How to place an order
The offering is expected to price the week of November 12, 20181, although market conditions and/or the discretion of the issuer may alter the anticipated timeline. Individual investors can place orders online or by calling a Fidelity representative at 800-544-5372. To stay up-to-date on pricing, credit rating changes, and more, please sign up for Fidelity Alerts and see our Municipal Bond New Issue Offerings.