Single Family Programs
The Asset Management division plays a major role in preserving and maintaining affordable housing for the Agency. The division manages the multifamily housing portfolio throughout the life of the typically 30 to 40 year loans, protecting CalHFA's real assets from loss and ensuring regulatory compliance. The division also collaborates with building owners and managers to ensure properties are well-operated, fiscally sound, clean and safe for tenants.
Accomplishments - Asset Management
- Provided oversight for 515 CalHFA Multifamily projects with a principal balance of $1.9 billion.
- Asset Management oversees $6.8 million in Capitalized Operating Subsidy for the MHSA Program. At fiscal year end, 12 loans have been transferred from Multifamily Programs to Asset Management with additional projects at various stages of the pipeline. For more details of the MHSA program, see the Multifamily Programs section of this report.
- Initiated the first-ever Pilot Prepayment Program in May 2010 and will continue through June 30, 2012.