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NORTEX Housing Finance Corporation has issued:
Mortgage Revenue Bonds
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$58,355,000 | ||||||||||||
| 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 Herring National Bank - Prime West Mortgage - Wells Fargo
Multi-Family
NORTEX HFC has issued multi-family bonds for the acquisition and rehabilitation of affordable apartment units. It has also provided a loan as part of the general financing for the construction of a new complex.
Multi-family Bonds $9,352,000 American Housing Foundation, 320 units Development Loan $15,000 Woodview Apartments, 104 unitsBond Ratings
The complete total of bonds issued has been $107,707,000. All of the senior bonds have been AAA rated and purchased by the Federal National Mortgage Association (Fannie Mae) or the Transamerica Life Insurance Company.
Pending Projects
Multi-family Bonds $9,000,000 Highland Oaks, Wichita Falls, TX Development Loan $155,000 Campus View Apts., Vernon TX
