National Mortgage Settlement

CalHFA is administering funds disbursed to California from the National Mortgage Settlement, as laid out in Governor Newsom's 2020-2021 budget. These funds will be used for a variety of purposes. The funds will be administered in two phases:

  • Phase I will provide housing counseling services that are certified by the federal Department of Housing and Urban Development
  • Phase II will include assessing the market to provide mortgage assistance to qualified California households

 

We are currently working on Phase I, with this timeline:

July/August 2020: Program development

August 2020: Selection of counseling intermediaries and program approval by the Board

September/October 2020: Program launch

 

Phase II is expected to be released in 12-18 months

 

We would be happy to receive and consider your comments with regard to the distribution of National Mortgage Settlement funds in California:

  1. Email comments to feedback@calhfa.ca.gov
  2. Public comments will be accepted at the CalHFA Board meeting, expected to be held in August, where we will request Board approval of the counseling program for Phase I. Phase II will be presented at a later date.