Series 2010 B Bond Issue and Revised Program Household Income Limits

Memo Subject:

Memo Date:

10/15/2010 (All day)

Memo No.:

10-13

2010 Series B Bond Issue:

MFA will release the 2010 Series B Bond Issue at the initial interest rates and dollar amounts as specified below. The Mortgage$aver , Mortgage$aver Zero and Mortgage$aver Plus programs will be available for reservation.

Due to market conditions and the high cost to obtain funds with acceptable mortgage rates , Mortgage$aver Xtra and HERO First/HERO DPA funds will not be available for reservation on the 2010 Series B Bond Issue .

Funds for the Mortgage$aver , Mortgage$aver Zero and Mortgage$aver Plus programs will be initially allocated among the state as indicated in the following table. Funds will be added to each allocation, as needed:

	Mortgage$aver	Mortgage$aver Zero	Mortgage$aver Plus
Statewide Allocation	$17,500,000	$15,000,000	$17,500,000

Details for 2010 Series B Bond Issue

Program	Rate	Discount Point	Origination Fee
Mortgage$aver	4.000%	1%	1%
Mortgage$aver Zero	4.625%	0%	0%
Mortgage$aver Plus	5.000%	0%	0% (3.5% grant)
Mortgage Booster	6.000%	($100 fee may be charged)

Master Servicer :

• Mortgage$aver, Mortgage$aver Zero and Mortgage$aver Plus :

• US Bank

Servicing Release Premium: Higher of 1.69% or $750 - All eligible loan types

Master Servicer Administration and Tax Service Fees: $80 tax service fee

We will be accepting reservations via MFA's on-line reservation system at 12:00 am Friday, October 15, 2010 . All reservations are on a first-come , first-served basis. No verbal or phone status will be provided. You may access the on-line reservation system via MFA's web site: www.housingnm.org .

The Notice of Funding Availability (NOFA) is the program document that notifies a Participating Lender the terms and conditions for funding MFA mortgage loans. Please refer to the NOFA's for all program information. The NOFA's for the following MFA loan programs can be found in the following links:

Mortgage$aver

Mortgage Booster

Revised Program Household Income Limits:

Effective 10/15/2010, MFA is amending the Statewide Program Household Income Limits for the Mortgage$aver, Mortgage$aver Zero, Mortgage$aver Plus, Mortgage$aver Green, Mortgage$aver Xtra and Mortgage Booster programs. The Program Household Income Limits include both Targeted and non-Targeted areas throughout the state.

The new Household Income Limits are as follows:

Mortgage$aver, Mortgage$aver Zero, Mortgage$aver Plus, Mortgage$aver Green and Mortgage Booster Program Income Limits

Area		1-to-2-Person Household		3-or-More-Person Household
Area		Old	New	Old	New
Non-Targeted Areas	Albuquerque MSA (Bernalillo , Sandoval , Torrance andValencia Counties)	$55,900	$60,300	$64,285	$69,345
	Santa Fe and Los Alamos Counties	$57,000	$66,900	$65,550	$76,935
	All other areas	$46,600	$52,700	$53,590	$60,605
Targeted Areas	Bernalillo, Sandoval County census tracts	$67,080	$72,360	$78,260	$83,214
Targeted Areas	All other census tracts	$55,920	$63,420	$65,240	$72,726

Mortgage$aver Xtra Income Program Limits

Area	Old	New
Albuquerque MSA (Bernalillo , Sandoval , Torrance and Valencia Counties)	$27,950	$30,150
Santa Fe and Los Alamos Counties	$28,500	$33,450
All other areas	$23,300	$26,350

Revised Program Acquisition Cost Limits:

Effective 10/15/2010, MFA is amending the Statewide Program Acquisition Cost Limits for the Mortgage$aver, Mortgage$aver Zero, Mortgage$aver Plus, Mortgage$aver Green, Mortgage$aver Xtra and Mortgage Booster programs. The Program Acquisition Cost Limits include both Targeted and non-Targeted areas throughout the state.

The new Program Acquisition Cost Limits are as follows:

Area	Old Acquisition Cost Limits	New Acquisition Cost Limits
Santa Fe County	$343,799	$384,750
Los Alamos County	$286,875	$342,585
San Juan County	$237,031	$253,125
All other Areas of The State	$237,031	$243,945
All Targeted Census Tracts Within the State	$289,704	$298,155