The Massachusetts Housing Finance Agency took a big step toward clearing up some troubled credits this week through an innovative refunding of rental housing properties.

Proceeds from Wednesday's $327.8 million refunding, 1994 Series A, will be used to restructure 32 defaulted mortgages on 27 low-income housing developments.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.