MuniMae Completes Rev Bond Transaction

Published August 05, 1998, 1:00 p.m. EDT

1 Min Read

Municipal Mortgage & Equity LLC, Baltimore, has completed a $6.25 million tax-exempt mortgage revenue bond transaction.The 7.09% 15-year bond, issued by the Weymouth Housing Authority, is secured by the Queen Anne IV Apartments, a 110-unit multistory apartment and townhouse community in Weymouth, Mass., southeast of Boston. MuniMae -- which originates, invests in, and services tax-exempt multifamily housing bonds -- earned a 1.0% origination fee on the transaction and will retain the mortgage servicing rights.

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