California Housing Finance Agency 2011-2012 ANNUAL REPORT

SINGLE FAMILY PROGRAMS

 

Loan Servicing

The Loan Servicing division provides service to the Agency’s portfolio of single family loans. The division receives and processes payments, manages loans to minimize delinquencies and communicates with existing CalHFA borrowers.

California Housing Finance Agency

SUNDIAL BRIDGE

The Sundial Bridge is a cantilever spar cable-stayed bridge for bicycles and pedestrians that spans the Sacramento River in Redding, California. The support tower of the bridge forms a single 217 foot mast that points due north at a cantilevered angle, allowing it to serve as a gnomon; it has been billed as the world’s largest sundial.

Accomplishments - Loan Servicing

 

  • Serviced 8,468 first mortgage loans totaling an unpaid principal balance of $1.84 billion
  • Hosted two loan modification workshops in Sacramento and San Diego
  • Completed 184 short sales
  • Completed 110 modifications payment and accounting of vendor invoices and contracts
  • Collected more than $6.05 million in Keep Your Home California funds during the 2011-12 fiscal year
  • Developed programs to enhance loss mitigation efforts and improve customer service