Effective July 1, 2013, pursuant to the Governor's Reorganization Plan No. 2 of 2012, the 2013-14 information for the California Housing Finance Agency is merging with the Department of Housing and Community Development (Organization Code 2240), which is moving to this Agency (Business, Consumer Services, and Housing). The California Housing Finance Agency was previously reported within the Business, Transportation, and Housing Agency.
The mission of the California Housing Finance Agency, which was statutorily chartered in 1975 to be the State's affordable housing bank, is to create safe, decent, and affordable rental housing and to assist first-time homebuyers in achieving the dream of home ownership by providing affordable first and secondary mortgage loans and mortgage insurance. The agency is financially self-supporting, setting loan interest rates slightly above its cost and charging fees for specific services to cover its lending costs and risks.
The agency has $11 billion in assets that are comprised mainly of loan receivables and investments related to bond proceeds. Each year, the agency produces an annual report by November 1st and is audited by independent outside auditors. The annual report and audited financial statements outline the lending activity and services provided by the agency 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