Staff Evaluation Process
- Staff diligence pursuant to Government Code § 15437(b): "The authority shall establish financial eligibility standards by studying the creditworthiness and earning capacity of each project, together with the amount of pledged revenues, debt service coverage, and basic security."
- Work compiled in staff report
- Sample staff report form
- Draft report will be provided to Borrower, Underwriter, Bond Counsel, CHFFA's Financial Analyst and Attorney General for review and comment
- Final report sent to Authority members seven days prior to meeting
- Staff makes recommendation but Authority retains discretion
- If applicable, staff report recommendation will be subject to Cal Mortgage Loan Committee Approval