Last Updated on January 30, 2025 by The HD Post Staff
CALIFORNIA – The California Housing Finance Agency (CalHFA), announced January 29, that its down payment and closing cost assistance programs do not rely on federal funds.
“Federal government “pauses” do not impact them,” said the CalHFA news release.
The notification is in response to President Donald Trump’s Office of Management and Budget (OMB) directive to all federal departments and agencies to temporarily stop using or distributing funds for programs tied to recent executive orders.
Although a federal judge blocked the OMB directive and the Trump Administration revoked the memo, White House press secretary Karoline Leavitt wrote on social media that the action is not a rescission of the federal funding freeze.
“The President’s EO’s on federal funding remain in full force and effect, and will be rigorously implemented,” said Leavitt in an X, formerly known as Twitter, post.
This is NOT a rescission of the federal funding freeze.
It is simply a rescission of the OMB memo.
Why? To end any confusion created by the court’s injunction.
The President’s EO’s on federal funding remain in full force and effect, and will be rigorously implemented.
— Karoline Leavitt (@PressSec) January 29, 2025
There are reports that some federal agencies had still not reopened their payment portal so funds can be drawn down.
CalHFA operations funded by mortgage loan program revenues
CalHFA recently released its annual financial report that gives a general overview of its financial position.
In the report, CalHFA said their operations are funded by revenues generated through its mortgage loan programs, not taxpayer dollars, although some of its program funding comes from California’s General Fund and voter-approved initiatives.
The agency reported that it helped 6,307 low- and moderate-income families achieve the dream of homeownership with more than $2.57 billion in first mortgage loans.
RELATED: Report says California helped 6,037 families achieve homeownership
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