2260 California Housing Finance Agency
Program Descriptions

10 - LENDING ACTIVITY

The objective of this program is to finance housing at affordable interest rates, using the proceeds of tax-exempt and taxable revenue bonds to make: (1) mortgage loans to qualified first-time homebuyers to finance the purchase of single family homes, (2) permanent loans for the creation and preservation of multifamily housing projects, and (3) special needs housing loans to facilitate the construction, rehabilitation and acquisition of housing needed to serve special needs populations.

20 - INSURANCE ACTIVITY

The objective of the Mortgage Insurance Services Division is to encourage the preservation of existing housing and improve new housing opportunities by offering mortgage insurance products to homebuyers who might not qualify for traditional lending programs. The program provides primary mortgage insurance at favorable rates by working with participating lenders, government agencies, government-sponsored enterprises, and the secondary mortgage market to develop and offer innovative homebuyer lending and mortgage insurance programs. Mortgage Insurance Services is not writing new policies, but continues to administer existing policies and claims.