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How does SONYMA make its funds available?

April 26, 2017funds sonyma

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How does SONYMA make its funds available?

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SONYMA makes it program funds available through the issuance of tax-exempt bonds. This permits SONYMA to offer low interest rate mortgage loan financing to New Yorkers. To maintain the tax-exempt status of our bonds, all loans, borrowers, and properties must comply with certain Federal laws and regulations. Most of the additional forms required by SONYMA are due to these laws and regulations.