SONYMA

AcronymDefinition
SONYMAState of New York Mortgage Agency
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Closing cost assistance is also available from SONYMA.
INCREASING RISK-TO-CAPITAL TRENDS: Surtax receipts remained low, albeit 22% greater than in 2011, and SONYMA will transfer a $100 million out of excess reserves.
In each community, SONYMA will work with experienced real estate professionals, housing nonprofits, and mortgage lenders to identify and market eligible properties, locate qualified buyers, determine the scope and cost of renovations, and structure the mortgages.
MIF's main source of revenue is mortgage surtax receipts, which were estimated by SONYMA to be about $85 million as of fiscal year ending March 31, 2012.
FDIC and NYSBD examiners found that the bank offered various flexible lending products with low down payment options that are attractive to first-time home buyers, including loans guaranteed by the FHA, the Veterans Administration and SONYMA.
The MIF was created by the state in 1978 as a separate operating unit of SONYMA.
SONYMA has recently committed $100 million to a program designed to help eligible New York households with certain high-risk mortgages avoid possible foreclosure by refinancing to 30-year or 40-year fixed-rate mortgages at competitive interest rates.
The Governors House NY initiative is creating opportunities like this across New York State and HCR through the provision of the Low Income Tax Credits, the HTF loan and SONYMA mortgage insurance is proud to be a part of the transformation.
16, 2005, SONYMA has entered into a Credit Support Agreement with CCDC and set aside $34 million of mortgage recording tax surcharge receipts as reserves in the MIF's DCCS account.
MTMC's servicing strategy includes maintaining its servicing portfolio by concentrating on its strategic alliances and leveraging its platform to pursue niche opportunities including GNMA early buyouts, SONYMA loans, and Alt-A product.
Towns, Commissioner of New York State Homes and Community Renewal, which includes SONYMA.