Glossary of Municipal Securities Terms


A program in which bond proceeds are loaned by the issuer to an entity that in turn lends portions of the proceeds to the ultimate beneficiaries of the bond financing. Loans-to-lenders programs are sometimes seen in single family housing revenue bond issues and certain other types of private activity bond financings. See: HOUSING REVENUE BOND; MORTGAGE REVENUE BOND; PRIVATE ACTIVITY BOND - Qualified student loan bonds.

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