Featured Links
- Promoting California Trade and Tourism
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- Proposition 1B - Transportation
- Proposition 1C - Housing
- Goods Movement Action Plan
- Jobs and the Economy
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- Strategic Growth Plan
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- Governor's Broadband Initiative
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Highlights
- Governor Schwarzenegger Highlights Economic Benefits of Proposition 1C
- Governor Signs Legislation to Expedite Funding for Transportation and Housing Projects
- Secretary Bonner Welcomes 2008 BIO International Convention to California
- Governor Schwarzenegger Announces $136 Million for Transit Projects
- Governor/CHP Highlight New Cell Phone Laws Taking Effect July 1
- California Selected as Partner State for CeBIT 2009
- CTC Approves Landmark $3 Billion Goods Movement Program
- Governor Schwarzenegger Continues Push for Congressional Leaders to Permanently Raise Federal Home Loan Limits
Departments
Theresa Parker
Executive Director
California Housing Finance Agency
For more information about CalHFA and its programs, go to www.calhfa.ca.gov.
Responsibilities and accomplishments include:
Increasing first-time homeownership:
- Planned to finance an estimated 5,800 first mortgage loans for $1.5 billion during FY 2006-07, which would place 17,500 Californians in their first homes.
- Also planned to expand down-payment assistance dollars during FY 2006-07, to first-time homebuyers in all 18 of California's least affordable and most underserved counties.
Providing innovative housing finance products and technologies:
- Introduced 35-year interest only PLUSSM and 40-Year Fixed Mortgage products for approximately 2,900 loans - about 50 percent of the agency's total homeownership loan volume amounting to $750 million dollars.
- Projected to insure 3,000 mortgages worth $840 million with HomeOpeners®* through the agency's Mortgage Insurance Division - which has $1.3 billion of insurance in force.
- Committed to developing a new homeownership loan origination system to ensure CalHFA loans are processed according to future technology requirements.
Expanding availability of affordable rental and special-needs housing:
- Planned to finance construction and permanent financing through the agency's Multifamily Division for 1,500 affordable rental units assisting 3,750 Californians.
- Committed to financing the governor's Initiative to End Long-Term Homelessness.
- Planned to roll-out new Multifamily and Special Needs programs in FY 2006-07 to meet the growing demands for affordable rental and special-needs housing.
* "HomeOpeners" is a registered trademark of Genworth Mortgage Holdings, LLC.
The California Housing Finance Agency (CalHFA) was created in 1975 as the state's affordable housing bank. Currently with more than $9 billion in pledged assets, CalHFA is the third largest state-chartered bank in California. CalHFA's $14 billion five-year business plan will produce 75,000 jobs, finance 7,000 newly constructed homes, and create affordable housing for 105,000 Californians.
"CalHFA works with both public and private business partners to ensure its programs are competitive and delivered in the most efficient manner." CalHFA Executive Director Theresa Parker said. "CalHFA is dedicated to creating innovative solutions to help build communities by making homeownership a reachable goal for more Californians while also increasing affordable rental housing availability."