This page provides financial reports, bond financing resources, and program information for lenders, developers, and other housing finance partners working with the Commission. It includes audited financial statements, bond program guidance, approved lender resources, and tools supporting multifamily and homeownership financing programs.
Audited Financial Statements
The financial statements report information for all Commission programs and operations. The statements of net position include all Commission assets, liabilities and deferred inflows and outflows of resources. All revenues and expenses of the Commission are accounted for in the statements of revenues, expenses, and changes in net position.
- 2018 - 2025
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- June 30, 2025 and 2024
- June 30, 2024 and 2023
- June 30, 2023 and 2022
- June 30, 2022 and 2021
- June 30, 2021 and 2020
- June 30, 2020 and 2019
- June 30, 2019 and 2018
- June 30, 2018 and 2017
- June 30, 2017 and 2016
- June 30, 2016 and 2015
- June 30, 2015 and 2014
- June 30, 2014 and 2013
- June 30, 2013 and 2012
- June 30, 2012 and 2011
- June 30, 2011 and 2010
- June 30, 2010 and 2009
- June 30, 2009 and 2008
- June 30, 2008 and 2007
- June 30, 2007 and 2006
- June 30, 2006 and 2005
- June 30, 2005 and 2004
- June 30, 2004 and 2003
- June 30, 2003 and 2002
Information for Bond Lenders
List of Approved Underwriters (PDF)
Background
The Commission does not make loans. Through you, we provide your customers with below-market financing options. The Commission does not have additional underwriting requirements. Loans involving bond financing remain your loans. You determine the amount of the loan according to your policies and underwriting criteria. The interest savings to the borrower often increases the borrower's financial strength and in turn creates a stronger more viable project.
The Commission is a self-funded state entity that neither uses tax dollars nor the good faith of the state of Washington. Commission bonds stand alone. The Commission has developed several programs and financing policies that ensure the integrity of Commission bonds.
Two Financing Methods
Letter of Credit
To provide a letter of credit the bank does not necessarily have to be the bank who is making the loan. The bank underwrites the project and determines the amount of the letter of credit. The bank will work with the Commission, the Commission's bond counsel, investment bankers, the bond trustee, and the Commission's financial advisor in issuing and selling bonds to fund the loan to be made by the bank. The borrower will make mortgage payments to the bank as in any other loan transaction. The trustee will draw on the letter of credit to pay the bond holders. The Commission requires that the letter of credit achieve at least an "A" rating from a rating agency approved by the Commission such as Moody's, Standard and Poor's, or Fitch.
Purchasing a Commission-Issued Bond/Loan
For a bank funding a loan to a nonprofit borrower, the Commission has developed STEP (Streamlined Tax-Exempt Placement) for multifamily developers, which allow the bank to earn tax-exempt interest on the loan.
4% Bond Allocation Resources
- Placed-In-Service
- ESDS
- How to make a Public Information Request
- Sustainability Resources for Multifamily Housing
- 10% Carryover Cost Certification (Word)
- v QCT/DDA list for this year only
- Resource List (PDF)
Disclaimer
All information contained herein is obtained from sources believed to be accurate and reliable. Refer to the Official Statement and operative documents of each series for complete information on that issue. Because of the possibility of human and mechanical error as well as other factors, however, such information is provided "as is" without warranty of any kind and, in particular, no representation or warranty, express or implied, is made nor should any be inferred as to the accuracy, timeliness or completeness of any such information.
Under no circumstances shall the Washington State Housing Finance Commission have any liability to any person or entity for (a) any loss or damage in whole or part caused by, resulting from, or relating to any error (from neglect or otherwise) or other circumstance involved in procuring, collecting, compiling, interpreting, analyzing, editing, transcribing, transmitting, communicating or delivering any such information, or (b) any direct, indirect, special, consequential or incidental damages whatsoever, even if the Washington State Housing Finance Commission is advised in advance of the possibility of such damages, resulting from the use of, or inability to use, any such information. This is not an offering document. The aforementioned information relates to bond issues of Washington State Housing Finance Commission that have been sold and distributed in underwritten public offerings described in the related official statements.
Each viewer of the aforementioned information acknowledges that (i) the Washington State Housing Finance Commission is not now by this document offering any bonds or other securities, nor soliciting an offer to buy any securities (ii) this information is not to be construed as any description of the Washington State Housing Finance Commission or its programs in conjunction with any offering of bonds or securities of the Washington State Housing Finance Commission - such offerings are only made pursuant to the appropriate official statements of the Washington State Housing Finance Commission - nor shall anyone assume from the availability of the aforementioned information that the affairs of the Washington State Housing Finance Commission have not changed since the date of this information, (iii) no representation is made as to the propriety or legality of any secondary market trading of the bonds or other securities of the Washington State Housing Finance Commission by anyone in any jurisdiction, (iv) the Washington State Housing Finance Commission does not hereby obligate itself in any manner to periodically or otherwise update this information, and (v) this information is not to be relied upon in connection with the purchase or sale of any bonds or other securities of the Washington State Housing Finance Commission.