When will the CalSTRS Home Loan Program return?
Last fall 2011, the previous CalSTRS Home Loan Program master servicing agent/program administrator made a strategic decision to cease mortgage originations via its correspondent lending channel nationwide. As a result, CalSTRS temporarily suspended its Home Loan Program and began the process of finding a new partner.
CalSTRS is currently working to reactivate the Home Loan Program with a new mortgage offering as soon as a partnership with a new master servicing agent/program administrator can be established. We anticipate selecting a new partner by early next year, with loan originations anticipated to resume by the late spring 2013.