Secondly, all credit enhancements must run to the length of the bonds. That is, the maturity of the bonds and the maturity of the credit enhancement must be the same. If a credit enhancer does not issue Letters of Credit etc for a typical twenty-five to thirty years of a mortgage on a project, then a enhancement of lesser term may be acceptable so long as it renews or is substituted with Housing Division approval, by an equally high or higher rated credit enhancement. Absent approved substitution or renewal, the credit enhancement must allow for full call of the bonds upon expiration of the enhancement. Specific inquiries should be addressed to the Housing Division's Chief Financial Officer at 775-687-4258 ext 223 or e-mail: nhd@govmail.state.nv.us
The following list does not constitute an endorsement and is not considered an exhaustive listing of all possible institutions or organizations who may provide credit enhancement on a real estate secured business transaction. Rather it is provided as a helpful list to potential applicants who may not have a strong working knowledge of the credit enhancement financial markets.