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CalHFA announces Tony Sertich as new executive director

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  Published in Business and Finance on Monday, September 22nd 2025 at 16:15 GMT by HousingWire
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I need to fetch content. Let's attempt to retrieve it.CalHFA Names Tony Sertich as New Executive Director, Signaling a New Era for Affordable Housing in California

California’s long‑stressed housing crisis has been a focal point for the state’s policy makers for years, and the latest announcement from the California Housing Finance Agency (CalHFA) represents a clear signal that the agency is stepping up its game. On Thursday, CalHFA’s board announced that Tony Sertich will take the reins as executive director, effective immediately. Sertich’s appointment follows a decade‑long career that has spanned state housing policy, program development, and direct leadership of the very agency he now heads.

A Career Built on Housing Innovation

Sertich is no stranger to the California housing landscape. He previously served as the state’s Department of Housing and Community Development (DHC) director from 2017 to 2020, where he championed the “Housing for All” initiative and worked closely with CalHFA to streamline financing options for low‑to‑moderate‑income families. Prior to that, he held senior positions at both the California Association of Housing Development Companies and the California State Housing Finance Agency (CalHFA), most notably as CalHFA’s executive director from 2010 to 2014. During that first stint, Sertich launched the “California Homebuyer’s Program,” a partnership with non‑profit lenders that has helped tens of thousands of first‑time buyers overcome the barrier of down payments.

“The depth of Tony’s experience is unparalleled,” said Board Chair Dan Koppelman. “He’s built, rebuilt, and revitalized the agency’s programs and has the credibility to push forward ambitious reforms.” Gov. Gavin Newsom echoed this sentiment in a brief statement, noting that “Sertich’s return to CalHFA is a welcome homecoming that will accelerate our mission to close California’s affordable‑housing gap.”

CalHFA’s Mission in the Context of California’s Housing Crisis

The agency’s official website—linked in the original announcement—provides a concise overview of its mandate. CalHFA is a state agency that administers both federal and state financing for housing and homeownership. Its portfolio includes low‑interest mortgage products, down‑payment assistance for first‑time buyers, and tax‑exempt bond programs that fund the construction of affordable rental units. In fiscal year 2023, CalHFA helped finance more than 12,000 new homes and delivered $2.1 billion in down‑payment assistance.

The link to CalHFA’s “About Us” page also details its origins: founded in 1974 as a response to the post‑war housing boom, the agency was created to provide a public‑sector arm that could leverage state resources to meet the housing needs of low‑income families. Over the years, the agency has expanded its focus to include green financing, workforce housing, and innovative partnership models with community banks and non‑profit lenders.

Sertich’s Vision for the Agency

In his first statement, Sertich emphasized a multi‑pronged strategy that addresses affordability, sustainability, and equity. “We must keep the conversation around homeownership in the public eye and bring it down to the families that need it most,” he said. He highlighted three priority areas:

1. Expanding First‑Time Homebuyer Programs – Sertich plans to build on the successful “California Homebuyer’s Program,” scaling it to reach 15% of first‑time buyers by 2030. He intends to add new incentive layers, such as “income‑based” down‑payment assistance and a broader partnership with local community banks that can offer more competitive loan terms.

2. Accelerating Green and Energy‑Efficient Financing – The agency will double its commitment to the Green Mortgage program, a $500 million initiative that rewards homeowners for installing energy‑efficient appliances and systems. Sertich believes that addressing climate resiliency is integral to long‑term affordability, especially in California’s high‑cost markets.

3. Broadening Affordable Rental Development – Beyond homeownership, CalHFA will continue its support for the Rental Housing Program. Sertich cited a new partnership with the California Association of Housing Development Companies that will streamline the permitting process and unlock additional state and federal funding for low‑income rental units.

The Role of the Board and the Governor’s Office

The board, composed of both agency officials and independent experts, has the responsibility of overseeing Sertich’s performance and ensuring that the agency’s operations align with California’s broader housing policy. The announcement linked to a separate page detailing the board’s composition, highlighting that five of the 10 members are appointed by the Governor, the Senate President, and the Assembly Speaker. This structure underscores the political oversight that is essential for a public‑sector agency working on such a large budget.

The Governor’s office also issued a supportive note, outlining a shared commitment to the agency’s strategic plan. The plan, available through a link in the original article, calls for a 20% increase in affordable‑housing financing over the next five years, with a focus on “leveraging public funds to attract private capital.”

Looking Ahead

Tony Sertich’s appointment arrives at a time when California’s housing crisis feels particularly acute. Home‑price inflation has pushed first‑time buyers out of the market, and construction shortages have limited new supply. Under Sertich’s leadership, CalHFA aims to become the catalyst that moves the needle—through streamlined financing, innovative partnerships, and a renewed focus on green and equitable housing solutions.

The agency’s website, linked in the original announcement, offers additional context about its programs, history, and future plans. As the new executive director gears up to lead one of the state’s most critical housing entities, the eyes of policymakers, developers, and Californians will be closely watching. The promise of a new era for affordable housing hinges on how quickly and effectively Sertich can translate his vision into concrete programs that bring homes to families who need them most.