Underwriting Criteria

VRA Underwriting Criteria

VRA has a robust set of underwriting criteria that provides the foundation for the credit approval process and ensures our underwriting practices closely align with our Strategic Plan. These criteria are periodically reviewed for potential updates or improvements that are relevant to recent credit trends. All underwriting criteria are reviewed and adopted by the VRA Board of Directors.

Criteria NameLast RevisionDocument Link
Revenue Credit Criteria9/12/2023Download PDF
Regional Authority Criteria6/13/2023Download PDF
Lease Transaction Criteria3/21/2023Download PDF
Parity Bond Criteria12/12/2023Download PDF
Restructuring Criteria9/12/2023Download PDF
Regional Jail Criteria6/13/2023Download PDF
Subordinate Debt Criteria12/12/2023Download PDF
Tax Supported Debt Evaluation Criteria9/12/2023Download PDF
Appropriation-Only-Backed Criteria3/21/2023Download PDF
Affordable and Workforce Housing Criteria12/12/2023Download PDF