Two firms were selected as construction-loan lenders.

First Interstate Mortgage Co. and Wells Fargo Realty Finance-Wells Fargo Mortgage Co. were chosen by the California Housing Finance Agency as lenders under a new program in which multifamily mortgage revenue bond issues will provide long-term financing for rental housing developments to be constructed throughout the state. The first CHFA-sponsored issue of about $40 million is expected in the first quarter of 1985.