New York, September 14, 2015 -- Moody's Investors Service, ("Moody's"), at the request of Southeast Texas Housing Finance Corporation, has reviewed the proposed sale of collateral backing their Single Family Mortgage Revenue Bonds & Refunding Bonds (Guaranteed Mortgage-Backed Securities Program) Series 2006A-1 and A-2, the proceeds of which will be used to redeem the outstanding bonds. The bond calls will be on January 1st, 2016 with a full call on July 1st, 2016, and will not have an adverse effect on the credit quality of the bonds and therefore will not, in and of itself and as of this time, result in reduction or withdrawal of Moody's rating. Moody's does not express an opinion as to whether the proposal could have other, non credit-related effects.

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