Qualified Housing Finance Agency [Banks & Banking] Law and Legal Definition

Pursuant to 12 USCS § 1715z-22a (2) [Title 12. Banks and Banking; Chapter 13. National Housing; Mortgage Insurance], the term qualified housing finance agency means “any State or local housing finance agency that-- (A) carries the designation of "top tier" or its equivalent, as evaluated by Standard and Poors or any other nationally recognized rating agency; (B) receives a rating of "A" for its general obligation bonds from a nationally recognized rating agency; or (C) otherwise demonstrates its capacity as a sound and experienced agency based on, but not limited to, its experience in financing multifamily housing, fund balances, administrative capabilities, investment policy, internal controls and financial management, portfolio quality, and State or local support.”