State housing finance agencies are increasingly willing to comply with bond insurers' requests that the agencies take on more risk, according to a report issued yesterday by Standard & Poor's Corp.

"In the multifamily area in particular, state housing finance agencies have started providing general obligation pledges as additional security for insured deals," the rating agency's report says. "It is also not unusual for insurers to enter reimbursement agreements with state agencies to offset the risks of new programs."

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