State of New York Mortgage Agency
- State of New York Mortgage Agency
The State of New York Mortgage Agency (SONYMA) was created in 1970 as a public benefit corporation due to shortages of funds in the private banking system for New York State's residential mortgages. The agency has a number of programs intended for first time home buyers of owner-occupied residences.
The agency's primary program is the Low Interest Rate Mortgage Program, which issues tax-exempt mortgage revenue bonds and uses the proceeds to fund below-market interest rate mortgage loans to low- and middle-income first time home buyers. The agency also has other home ownership programs from time to time.
SONYMA also operates the Mortgage Insurance Fund Division, which provides primary mortgage insurance for disadvantaged properties.
ee also
* Federal Housing Administration
References
* [http://www.nyhomes.org/home/index.asp?page=33 History of the State of New York Mortgage Agency]
External links
* [http://www.nyhomes.org/ nyhomes.org]
Wikimedia Foundation.
2010.
Look at other dictionaries:
New York State Housing Finance Agency — The New York State Housing Finance Agency (HFA) is a New York State public authority created in 1960 to build and preserve affordable multifamily rental housing throughout New York State. HFA sells bonds and uses the proceeds to make mortgages to … Wikipedia
New York State Banking Department — Past NY Banking Superintendents Superintendent Appointment Date Daniel B. St. John April 15, 1851 Marius Schoonmaker April 4, 1854 James M. Cook January 30, 1856 Henry H. Van Dyck April 16, 1861 Edward Hand (banking) August 9, 1865 Emerson W. K … Wikipedia
New York Rangers — 2011–12 New York Rangers season Conference Eastern … Wikipedia
Dutch Reformed Church (Newburgh, New York) — Dutch Reformed Church U.S. National Register of Historic Places U.S. National Historic Landmark … Wikipedia
History of the New York Rangers — Contents 1 History 1.1 Early years 1.2 1927–28 Stanley Cup 1.3 1932–33 Stanley Cup 1.4 … Wikipedia
Mortgage loan — Mortgage redirects here. For other uses, see Mortgage (disambiguation). Finance Financial markets … Wikipedia
New Eyes for the Needy — is a non profit organization started in 1932 (incorporated 1948[1]) and based in Short Hills, New Jersey, which provides people in the United States with eyeglasses and sends recycled eyeglasses to needy people overseas.[2] Contents 1 Vision and… … Wikipedia
New Deal — This article is about the 1930s economic programs of the United States. For other uses, see New Deal (disambiguation). Top left: The Tennessee Valley Authority, part of the New Deal, being signed into law in 1933. Top right: Franklin Delano… … Wikipedia
Mortgage broker — A mortgage broker acts as an intermediary who brokers mortgage loans on behalf of individuals or businesses. Traditionally, banks and other lending institutions have sold their own products. However as markets for mortgages have become more… … Wikipedia
Mortgage industry of the United States — Historical U.S. Prime Rates The Mortgage industry of the United States is a major financial sector. The federal government created several programs, or government sponsored entities, to foster mortgage lending, construction and encourage home… … Wikipedia
