Support Services


The Financing division manages the capital used to finance CalHFA's affordable housing programs. It also handles the Agency's outstanding debt obligations and non-mortgage investments. The division frequently evaluates various alternatives for generating low-cost capital, including balancing risk versus benefit. CalHFA's tax-exempt issuance authority allows it to serve the affordable housing needs of Californians in a way that the general market does not.

Hand holding cog with financial guy inside


  • Reduced the amount of variable rate debt outstanding by $1.35 billion.
  • Reduced the notional amount of interest rate swaps outstanding by $368 million.
  • Worked with Moody's and Standard & Poor's to maintain the Agency's credit ratings.
  • Closed a $69.95 million bond transaction under the New Issue Bond Program to fund multifamily preservation projects and $4.55 million of multifamily conduit financing.
  • Refunded $133.8 million of Residential Mortgage Revenue Bonds.
  • Redeemed all bonds under the Multifamily Housing Revenue Bonds II indenture.
  • Closed the New Issue Bond Program. Escrow proceeds were used for:
    • Residential Mortgage Revenue Bond Escrow—Single Family
      • Original allocation of $1.02 billion
      • $680 million used to issue long-term bonds
      • Redeemed $336 million in unused proceeds
    • Affordable Multifamily Housing Revenue Bond Escrow
      • Original allocation of $380.53 million
      • $379.75 million used to issue long-term bonds
      • Redeemed $780,000 in unused proceeds
  • Worked with Multifamily Programs and Asset Management to receive $82 million of prepayments on multifamily loans.
  • Established the Enterprise Risk Management team.
  • Completed the extension of the Temporary Credit and Liquidity Program to December 23, 2015.