By Chris Wack
The Cleveland County Home Loan Authority plans to sell $25 million in single-family mortgage revenue bonds.
The Series 2025 A bonds are expected to be used to finance the purchase of single-family residential housing and the purchase of second-lien mortgage loans, according to a document posted Thursday on MuniOS.
Interest on the bonds will be payable starting on July 1 and again on Jan. 1. Interest rates and yields have not yet been set. The bonds mature from 2027 through 2056.
The bonds are being issued to provide financing for mortgage loans to be made to eligible borrowers for the purchase of newly constructed and existing single-family residences located within the geographic limits of Cleveland County, Oklahoma, and is just south of Oklahoma City. They will also be used for financing second-lien mortgage loans to such borrowers in order to provide downpayment and closing cost assistance.
The bonds are special obligations of the authority, and aren't secured by, or payable from, the second-lien mortgage loans.
The authority is a duly constituted public trust, organized for the purpose of providing financing for the construction, acquisition and rehabilitation of homes.
Moody's assigned the bonds a rating of Aa1.
Stifel is the lead underwriter.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
November 14, 2025 12:09 ET (17:09 GMT)
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