The California State Teachers' Retirement System Mortgage Home Loan Program was established in 1984 as a result of legislation that provided CalSTRS with a mortgage-backed investment opportunity, as well as additional source of home financing for its members and retirees.

Later legislation enabled the Teachers' Retirement Board to enter into agreements with private lending institutions to implement the Home Loan Program. In 1986, CalSTRS began offering 30-year and 15-year fixed interest rate conventional home loans to members for single-family dwellings.

Although new mortgage originations were temporarily suspended on October 1, 2011, CalSTRS intends to resume production after completing a thorough review of the mortgage market, and establishing a new administrator and master servicer for the program.