Welcome to Our Investor Relations Site



Issuer Type: Housing

Bond Ratings

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Homeownership Opportunity Bonds


Multi-Family Development Bonds

Kara Lachapelle

On behalf of RIHousing, I would like to welcome you to our new investor relations website. We appreciate your interest and investment in bonds issued by RIHousing, as it allows us to make critical investments in housing throughout Rhode Island. We are committed to maintaining our strong bond ratings, and we are also committed to being as transparent as possible with the investor community and public at large.

I hope you find this website useful as you seek to better understand the credit fundamentals of RIHousing. Please do not hesitate to contact our office with suggestions for how we can improve. Thanks again for your interest in our bond program.

Kara Lachapelle, Chief Financial Officer

News & Highlights

December 18, 2020

RIHousing Launches New Investor Transparency Initiative and January Bond Sale

RIHousing Launches New Investor Transparency Initiative and January Bond Sale

New Investor Website www.RIHousingBonds.com will be used to Attract More Municipal Bond Investors

Providence, RI – December 18, 2020

Rhode Island Housing and Mortgage Finance Corporation (RIHousing) today announced a new investor outreach initiative aimed at attracting more investors to their municipal bond offerings. In advance of its upcoming bond sale, RIHousing launched a new, open-access Investor Relations (IR) site, which provides a single location for investors to access the data and documents that outline the credit features of the agency’s financing programs. 

The new IR website is free to all investors at www.RIHousingBonds.com. It is being powered by BondLink, a financial technology company that has set the standard for investor transparency across the $4 trillion municipal bond market.

RIHousing is currently planning its next Multi-family issuance, which is expected to come to market in January 2021. Information regarding the sale will be accessible on the agency’s new site.

“We are committed to providing investors with easy access to our financial data,” said Kara Lachapelle, Chief Financial Officer at RIHousing. “How data is provided is a key part of being transparent: using an investor website allows us to reach more investors, and to provide financial updates in a much more user-friendly format, whether investors are using a Bloomberg terminal or a mobile phone.”

“Given how difficult market conditions have become, and how credit sensitive investors are now relative to six months ago, we’re excited to work with RIHousing to reach more investors and raise investor demand for its bond programs,” said Colin MacNaught, co-founder and CEO of BondLink. “Sophisticated issuers like RIHousing understand a commitment to transparency includes providing a better digital experience for investors online, and we look forward to partnering with them.”

Academic research shows that better, more accessible disclosure can lead to lower bond yields for municipal issuers and lower trading costs for investors. Enhanced issuer transparency has also been a continued point of emphasis from market regulators.

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September 16, 2020

RIHousing Issues Inaugural Social Bonds to Support Affordable Housing

RIHousing Issues Inaugural Social Bonds to Support Affordable Housing

Proceeds will open doors to homeownership for low-to-moderate income RIers

Providence, RI – RIHousing announced the issuance of $142 million of new bonds, the first ‘Social Bonds’ to be offered by the agency. Social Bonds are bonds that raise funds for new and existing projects that address or mitigate a specific social issue and/or seek to achieve positive social outcomes.  The sale of the bonds will finance affordable home loans and down payment assistance to low-to-moderate income first-time homebuyers in Rhode Island.

“Building upon the growing interest in socially responsible investments, these bonds will enable RIHousing to open the doors to homeownership to more low-and-moderate income first-time homebuyers,” said Kara Lachapelle, RIHousing’s Chief Financial Officer. “Offering these bonds as ‘Social Bonds’ allows investors to invest directly in bonds that achieve positive social outcomes.”

For almost 50 years, RIHousing has worked to ensure that all Rhode Island residents have access to safe and healthy homes in livable and sustainable communities. The agency finances affordable housing through a variety of channels, including its longstanding Homeownership Opportunity Program (“HOP”), where RIHousing issues bonds to finance mortgage loans to first time homebuyers of low-to-moderate income and provides down payment assistance.

“We recognize that homeownership is a meaningful way for families to build wealth and equity, and we are committed to helping more Rhode Islanders invest in their future and achieve the dream of homeownership,” said Carol Ventura, Executive Director of RIHousing. “The proceeds from the sale of Social Bonds will allow us to continue fulfilling our core mission of helping our state and its residents.”

Social Bonds support projects with clear social benefits aimed at addressing or mitigating a specific social issue and/or seeking to achieve positive social outcomes. RIHousing’s Social Bonds designation reflects the use of proceeds of the bonds in a manner that is consistent with the “Social Bond Principles” as promulgated by the International Capital Markets Association (“ICMA”) and mapped to the United Nations Sustainable Development Goals.  The designation reflects the use of the proceeds to meet the goals of reducing poverty and inequalities, expanding access to financial services and supporting sustainable cities and communities in the state. Mortgage loans funded by the bond proceeds will be originated by the agency’s network of Participating Lenders and the RIHousing Loan Center.

“RIHousing has a deep commitment to social responsibility,” said Ventura. “Social Bonds are an important opportunity for investors seeking to make socially impactful investments and critical for attracting funding to benefit some of the most vulnerable Rhode Islanders.”

About RIHousing

RIHousing works to ensure that all people who live in Rhode Island can afford a healthy home that meets their needs. RIHousing provides loans, grants, education and assistance to help Rhode Islanders find, rent, buy, build and keep a good home. Created by the General Assembly in 1973, RIHousing is a self-sustaining corporation and receives no state funding for operations. For more information regarding RIHousing, visit www.RIHousing.com or follow us @RIHousing on Facebook and Twitter.

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September 16, 2020

Press Release
RIHousing Launches New Down Payment Assistance Program for First-time Homebuyers


September 16, 2020

Contact: bonds@rihousing.com 

RIHousing Launches New Down Payment Assistance Program for First-time Homebuyers

$10,000 in down payment assistance available to eligible homebuyers

Providence, RI – RIHousing today announced a new down payment assistance program for first-time homebuyers. The “10kDPA” program provides a $10,000 down payment assistance loan to eligible homebuyers in Rhode Island.

“We’re excited to be able to offer this new program to help first-time homebuyers with what is often the biggest hurdle to homeownership: the down payment,” said Carol Ventura, Executive Director of RIHousing. “Approximately 90% of our mortgage customers receive some form of down payment assistance, which greatly reduces the out-of-pocket expenses incurred during the mortgage process.”

Prospective homebuyers must obtain a RIHousing mortgage through a Participating Lender or through the RIHousing Loan Center. Homebuyers must have a minimum credit score of 660, occupy the home as their primary residence and be a first-time homebuyer purchasing a 1-4 family home or condominium in Rhode Island. The 10kDPA program is structured as a second mortgage and certain income limits and eligibility criteria apply.

“While the COVID-19 pandemic has negatively impacted many renters and existing homeowners, it has also intensified the desire by many to buy a home,” said Peter Pagonis, RIHousing’s Director of Homeownership. “While homebuying activity slowed due to the pandemic, it has significantly rebounded since May. Record low mortgage rates are providing opportunities for buyers to lock-in low monthly mortgage payments for future years.”

In order to participate in the program, homebuyers must complete a RIHousing-approved Homebuyer Education class. The course covers a number of topics, including budgeting, understanding credit, the closing process, and the costs associated with homebuying.

“RIHousing has been opening the doors to homeownership for almost 50 years. In that time, we’ve helped over 85,000 homebuyers invest in their future and achieve the dream of owning a home,” said Ventura. “For those who are in a position to do so, now may be a great time to purchase a home. In fact, for many, owning a home is an important first step to building wealth and investing in the future.”

More information on the 10kDPA program is available online at: www.rihousing.com/10kDPA.

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