The story
CalHFA was created by the Zenovich–Moscone–Chacon Housing and Home Finance Act of 1975, which also permanently established and reorganized the California Department of Housing and Community Development.
CalHFA was known as CHFA until 2002 when it was rebranded.
CalHFA provides housing assistance in two main areas: below-market interest rate mortgages and down payment assistance for low and moderate income, first-time homebuyers, many of whom are ethnic minorities not well-served by market rate products and loans for the development and preservation of affordable multifamily rental housing. Though CalHFA is a state agency, it is self-supported meaning that it does not use any general fund allocations for its operations. CalHFA no longer issues mortgage insurance.
CalHFA also administers programs using funds allocated to it by the Federal Government, State Legislature and other sources. These programs have included Keep Your Home California, the National Mortgage Settlement Housing Counseling Program, the California Mortgage Relief Program and others.
From Wikipedia’s article on California Housing Finance Agency, shared under CC BY-SA 4.0.5