The Minnesota Housing Finance Agency hit the market Wednesday with $75 million of tax-exempt homeownership finance bonds that mark its third use of a mortgage-backed pass-through structure that’s helped jumpstart new-money, tax-exempt borrowing for single-family housing.

Under the pass-through structure, MHFA will issue tax-exempt bonds marketed to MBS buyers with a 30-year bullet maturity that pays a significantly lower yield in the current market than a traditional housing bond.

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