CalHFA board creates New Opportunities Committee to vet new lending products

The California Housing Finance Agency board voted to ratify a charter establishing the New Opportunities Committee (NOC), an advisory body charged with evaluating new loan products, lending programs and lines of business consistent with CalHFA’s strategic and business plans.

General Counsel Claire Turanian told the board the NOC was formed to refine and prioritize ideas that emerged from the board’s March workshop and subsequent new‑opportunities work. The charter specifies the committee will be advisory, will consist of no fewer than three members, and will recommend concepts for full board consideration.

Doctor White, who was named committee chair during the workshop process, said the charter reflected the work the group has already been doing and cleared statutory questions about ownership or lending authorities. Director Sotelo and Secretary Moss urged operational checks and stronger ties between the NOC’s recommendations and the audit and risk functions. Claire Turanian advised the board that committee membership can be adjusted by the chair but cautioned against forming a membership that would constitute a quorum of the full board (six or more of 13 voting members) under Bagley‑Keene open‑meeting rules.

After a public‑comment check (no speakers), the board moved, seconded and approved Resolution 24‑21 to adopt the NOC charter. Roll‑call votes recorded by staff showed unanimous support among voting members present.