Effective July 1, 2013, pursuant to the Governor's Reorganization Plan No. 2 of 2012, the 2013-14 and 2014-15 information for the California Housing Finance Agency (CalHFA) is displayed within the Department of Housing and Community Development (HCD), which reports to the Business, Consumer Services, and Housing Agency. The 2012-13 budget information for the CalHFA is displayed in Organization Code 2260 and was previously reported within the Business, Transportation, and Housing Agency.
The mission of the HCD is to preserve and expand safe and affordable housing opportunities and promote strong communities for all Californians. The HCD: (1) administers housing finance, economic development and community development programs; (2) develops housing policy and advocates for an adequate housing supply; and (3) develops building codes and regulates manufactured homes and mobilehome parks. The HCD also provides technical and financial assistance to local agencies to support housing development.
CalHFA, a statutorily independent agency and component unit of state government, is not subject to Budget Act Appropriation. CalHFA's mission is to create and finance progressive housing solutions so more Californians have a place to call home. CalHFA is financially self-supporting, setting loan interest rates slightly above its cost and charging fees to cover its lending costs and risks. Currently, CalHFA has $6.8 billion in assets that are comprised mainly of loan receivables and investments related to bond proceeds. Each year, CalHFA is audited by independent outside auditors and produces an annual report by November 1. The annual report and audited financial statements outline the lending activity and services provided by the CalHFA and the financial results of those activities. These reports can be viewed using the following link: http://www.calhfa.ca.gov/about/financials/reports/index.htm