CHFA board raises warehousing cap to $225 million, extends authorization to April 2028

The Connecticut Housing Finance Authority Board of Directors on March 27 adopted a Second Amending Resolution to increase the Authority’s authorization for revolving mortgage loan warehousing obligations and to extend the authorization period.

Hazim Taib, Chief Financial Officer, presented the amending resolution that proposed raising the aggregate principal amount that may be outstanding under the Authority’s warehousing facilities and extending the expiration date of the authorization. The Board voted to adopt the measure following a motion by Gregory Ugalde and a second by Timothy Hodges.

The Board’s adopted changes replace the prior cap: Section 3 was amended by replacing "$150,000,000" with "$225,000,000," and Section 8 was amended by replacing "October 30, 2026" with "April 28, 2028." The resolution took effect immediately upon adoption.

The resolution updates an earlier 2022 authorization and the October 2023 amending resolution and is intended to facilitate the Authority’s continued use of warehouse facilities to pool single-family loans into mortgage‑backed securities, as described in the adopted text.

In related actions, the Board discussed and authorized certain delegations and securities‑issuance mechanics connected to the Authority’s ongoing Housing Mortgage Finance Program, which appear elsewhere on the agenda. Those matters addressed procedures for bond sales and other financing steps the Authority may use to fund mortgage lending and related reimbursements.

The Board approved the amending resolution by roll call vote with all members present voting in favor.