REPORT OF PROGRAM ACTIVITY
FISCAL YEAR 2008: July 1, 2007 June 30, 2008
1st Half of FY2008 = July 1, 2007 December 31, 2007
2nd Half of FY2008 = January 1, 2008 June 30, 2008
CRITTENDEN
Countyin Congressional District
1HOMEOWNERSHIP
Home-to-Own (H2O)
General Statistics
|
Time Period |
No. Loans |
Dollar Amount |
Mean Loan Amount |
Median Loan Amount |
|
07/2007 12/2007 |
84 |
$9,168,681.00 |
$109,150.96 |
$108,139.50 |
|
01/2008 06/2008 |
60 |
$6,711,218.00 |
$111,853.63 |
$116,330.50 |
|
Total FY2008 |
144 |
$15,879,899.00 |
$110,277.08 |
$112,235.00 |
Loan Cancellation Rate
Total FY2008:|
07/2007 12/2007 |
8 (8.7%) |
|
01/2008 06/2008 |
17 (22.1%) |
|
FY2008 Total |
25 (14.8%) |
Loans by Originator / Branch
|
7/1/07 - 12/31/07 |
1/1/08 - 6/30/08 |
TOTAL FY 2008 |
||||
|
ORIGINATOR / BRANCH |
NO. LOANS |
DOLLAR AMOUNT |
NO. LOANS |
DOLLAR AMOUNT |
NO. LOANS |
DOLLAR AMOUNT |
|
First Community Bank of E Arkansas, Marion, AR |
1 |
$111,122.00 |
1 |
$65,866.00 |
2 |
$176,988.00 |
|
First Horizon Home Loan Corp, West Memphis, AR |
11 |
$1,195,016.00 |
2 |
$292,761.00 |
13 |
$1,487,777.00 |
|
Guaranty Loan, West Memphis, AR |
0 |
$0.00 |
1 |
$120,950.00 |
1 |
$120,950.00 |
|
Magna Bank, Memphis, TN |
1 |
$125,409.00 |
2 |
$269,175.00 |
3 |
$394,584.00 |
|
Pulaski Mortgage Company, West Memphis, AR |
71 |
$7,737,134.00 |
53 |
$5,854,466.00 |
124 |
$13,591,600.00 |
|
Regions Mortgage, Memphis, AR |
0 |
$0.00 |
1 |
$108,000.00 |
1 |
$108,000.00 |
Loans by New / Existing
|
New / Existing |
Time Period |
No. Loans |
Dollar Amount |
|
Existing Construction |
07/2007 12/2007 |
76 |
$8,040,462.00 |
|
01/2008 06/2008 |
53 |
$5,639,616.00 |
|
|
Total FY2008 |
129 |
$13,680,078.00 |
|
|
New or Proposed Construction |
07/2007 12/2007 |
8 |
$1,128,219.00 |
|
01/2008 06/2008 |
7 |
$1,071,602.00 |
|
|
Total FY2008 |
15 |
$2,199,821.00 |
Loans by Loan Type
|
Loan Type |
Time Period |
No. Loans |
Dollar Amount |
|
FHA |
07/2007 12/2007 |
36 |
$3,741,894.00 |
|
01/2008 06/2008 |
35 |
$3,485,266.00 |
|
|
Total FY2008 |
71 |
$7,227,160.00 |
|
|
VA |
07/2007 12/2007 |
4 |
$535,743.00 |
|
01/2008 - 06/2008 |
1 |
$99,684.00 |
|
|
Total FY2008 |
5 |
$635,427.00 |
|
|
Conventional |
07/2007 12/2007 |
34 |
$3,598,805.00 |
|
01/2008 06/2008 |
14 |
$1,850,400.00 |
|
|
Total FY2008 |
48 |
$5,449,205.00 |
|
|
Rural Development |
07/2007 12/2007 |
10 |
$1,292,239.00 |
|
01/2008 06/2008 |
10 |
$1,275,868.00 |
|
|
Total FY2008 |
20 |
$2,568,107.00 |
Borrowers Profile
|
Ethnicity |
Time Period |
No. Loans |
Dollar Amount |
Percent |
Mean Income |
Median Income |
|
Non-Minority |
07/2007 12/2007 |
59 |
$6,470,450.00 |
70.2% |
$49,568.12 |
$51,702.00 |
|
01/2008 06/2008 |
31 |
$3,623,256.00 |
51.7% |
$52,512.81 |
$51,598.56 |
|
|
Total FY2008 |
90 |
$10,093,706.00 |
62.5% |
$51,040.46 |
$51,650.28 |
|
|
Minority |
07/2007 12/2007 |
25 |
$2,698,231.00 |
29.8% |
$46,301.40 |
$49,230.60 |
|
01/2008 06/2008 |
29 |
$3,087,962.00 |
48.3% |
$43,303.96 |
$39,792.00 |
|
|
Total FY2008 |
54 |
$5,786,913.00 |
37.5% |
$44,802.68 |
$44,511.30 |
|
Gender of Head of Household |
Time Period |
No. Loans |
Percent |
|
Male |
07/2007 12/2007 |
60 |
71.4% |
|
01/2008 06/2008 |
37 |
61.7% |
|
|
Total FY2008 |
97 |
67.4% |
|
|
Female |
07/2007 12/2007 |
24 |
28.6% |
|
01/2008 06/2008 |
23 |
38.3% |
|
|
Total FY2008 |
47 |
32.6% |
|
Age of Head of Household |
Time Period |
No. Loans |
Percent |
|
18 to 22 |
07/2007 12/2007 |
2 |
2.4% |
|
01/2008 06/2008 |
5 |
8.3% |
|
|
Total FY2008 |
7 |
4.9% |
|
|
23 to 30 |
07/2007 - 12/2007 |
29 |
34.5% |
|
01/2008 06/2008 |
21 |
35.0% |
|
|
Total FY2008 |
50 |
34.7% |
|
|
31 to 40 |
07/2007 12/2007 |
20 |
23.8% |
|
01/2008 06/2008 |
11 |
18.3% |
|
|
Total FY2008 |
31 |
21.5% |
|
|
41 to 50 |
07/2007 12/2007 |
15 |
17.9% |
|
01/2008 06/2008 |
7 |
11.7% |
|
|
Total FY2008 |
22 |
15.3% |
|
|
51 to 60 |
07/2007 12/2007 |
13 |
15.5% |
|
01/2008 06/2008 |
8 |
13.3% |
|
|
Total FY2008 |
21 |
14.6% |
|
|
61 to 70 |
07/2007 12/2007 |
2 |
2.4% |
|
01/2008 06/2008 |
4 |
6.7% |
|
|
Total FY2008 |
6 |
4.2% |
|
|
71+ |
07/2007 12/2007 |
3 |
3.6% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
3 |
2.1% |
|
|
Unknown |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
4 |
6.7% |
|
|
Total FY2008 |
4 |
2.8% |
|
|
Average Age |
07/2007 12/2007 |
39.3 |
|
|
01/2008 06/2008 |
36.8 |
||
|
Total FY2008 |
38.1 |
|
Average Household Size |
07/2007 12/2007 |
2.5 |
|
01/2008 06/2008 |
2.0 |
|
|
Total FY2008 |
2.3 |
Down Payment Assistance Program (DPA)
General Statistics
|
Time Period |
No. Loans |
Dollar Amount |
Mean Loan Amount |
% of H2O Loans |
|
07/2007 12/2007 |
37 |
$129,462.00 |
$3,498.97 |
44.0% |
|
01/2008 06/2008 |
21 |
$91,486.00 |
$4,356.48 |
35.0% |
|
Total FY2008 |
58 |
$220,948.00 |
$3,809.45 |
40.3% |
Loans by Homebuyer Counselor
|
7/1/07 - 12/31/07 |
1/1/08 - 6/30/08 |
TOTAL FY 2008 |
||||
|
HOMEBUYER COUNSELOR |
NO. LOANS |
DOLLAR AMOUNT |
NO. LOANS |
DOLLAR AMOUNT |
NO. LOANS |
DOLLAR AMOUNT |
|
Legal Aid of Arkansas |
1 |
$1,454.00 |
1 |
$3,862.00 |
2 |
$5,316.00 |
|
Mississippi County EOC |
36 |
$128,008.00 |
20 |
$87,624.00 |
56 |
$215,632.00 |
Loans by New / Existing
|
New / Existing |
Time Period |
No. Loans |
Dollar Amount |
|
Existing Construction |
07/2007 12/2007 |
36 |
$128,008.00 |
|
01/2008 06/2008 |
20 |
$87,216.00 |
|
|
Total FY2008 |
56 |
$215,224.00 |
|
|
New or Proposed Construction |
07/2007 12/2007 |
1 |
$1,454.00 |
|
01/2008 06/2008 |
1 |
$4,270.00 |
|
|
Total FY2008 |
2 |
$5,724.00 |
Borrowers Profile
|
Ethnicity |
Time Period |
No. Loans |
Dollar Amount |
Percent |
Mean Income |
Median Income |
|
Non-Minority |
07/2007 12/2007 |
28 |
$95,834.00 |
75.7% |
$52,094.19 |
$53,096.00 |
|
01/2008 06/2008 |
9 |
$34,954.00 |
42.9% |
$54,446.17 |
$53,496.00 |
|
|
Total FY2008 |
37 |
$130,788.00 |
63.8% |
$53,270.18 |
$53,296.00 |
|
|
Minority |
07/2007 12/2007 |
9 |
$33,628.00 |
24.3% |
$49,587.07 |
$51,668.28 |
|
01/2008 06/2008 |
12 |
$56,532.00 |
57.1% |
$49,998.67 |
$46,558.74 |
|
|
Total FY2008 |
21 |
$90,160.00 |
36.2% |
$49,792.87 |
$49,113.51 |
|
Gender of Head of Household |
Time Period |
No. Loans |
Percent |
|
Male |
07/2007 12/2007 |
30 |
81.8% |
|
01/2008 06/2008 |
13 |
61.9% |
|
|
Total FY2008 |
43 |
74.1% |
|
|
Female |
07/2007 12/2007 |
7 |
18.9% |
|
01/2008 06/2008 |
8 |
38.1% |
|
|
Total FY2008 |
15 |
25.9% |
|
Age of Head of Household |
Time Period |
No. Loans |
Percent |
|
18 to 22 |
07/2007 12/2007 |
1 |
2.7% |
|
01/2008 06/2008 |
2 |
9.5% |
|
|
Total FY2008 |
3 |
5.2% |
|
|
23 to 30 |
07/2007 12/2007 |
14 |
37.8% |
|
01/2008 06/2008 |
5 |
23.8% |
|
|
Total FY2008 |
19 |
32.8% |
|
|
31 to 40 |
07/2007 12/2007 |
7 |
18.9% |
|
01/2008 06/2008 |
4 |
19.0% |
|
|
Total FY2008 |
11 |
19.0% |
|
|
41 to 50 |
07/2007 12/2007 |
7 |
18.9% |
|
01/2008 06/2008 |
4 |
19.0% |
|
|
Total FY2008 |
11 |
19.0% |
|
|
51 to 60 |
07/2007 12/2007 |
6 |
16.2% |
|
01/2008 06/2008 |
4 |
19.0% |
|
|
Total FY2008 |
10 |
17.2% |
|
|
61 to 70 |
07/2007 12/2007 |
2 |
5.4% |
|
01/2008 06/2008 |
2 |
9.5% |
|
|
Total FY2008 |
4 |
6.9% |
|
|
71+ |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
0 |
0.0% |
|
|
Average Age |
07/2007 12/2007 |
38.7 |
|
|
01/2008 06/2008 |
39.8 |
||
|
Total FY2008 |
39.3 |
|
Average Household Size |
07/2007 12/2007 |
2.6 |
|
01/2008 06/2008 |
1.7 |
|
|
Total FY2008 |
2.2 |
American Dream Downpayment Initiative (ADDI) Program
General Statistics
|
Time Period |
No. Loans |
Dollar Amount |
Mean Loan Amount |
% of H2O Loans |
|
07/2007 12/2007 |
10 |
$82,276.00 |
$8,227.60 |
11.9% |
|
01/2008 06/2008 |
0 |
$0.00 |
$0.00 |
0.0% |
|
Total FY2008 |
10 |
$82,276.00 |
$8,227.60 |
6.9% |
Loans by Homebuyer Counselor
|
7/1/07- 12/31/07 |
1/1/08 - 6/30/08 |
TOTAL FY 2008 |
||||
|
HOMEBUYER COUNSELOR |
NO. LOANS |
DOLLAR AMOUNT |
NO. LOANS |
DOLLAR AMOUNT |
NO. LOANS |
DOLLAR AMOUNT |
|
Legal Aid of Arkansas |
1 |
$8,451.00 |
0 |
$0.00 |
1 |
$8,451.00 |
|
Mississippi County EOC |
9 |
$73,825.00 |
0 |
$0.00 |
9 |
$73,825.00 |
Loans by New / Existing
|
New / Existing |
Time Period |
No. Loans |
Dollar Amount |
|
Existing Construction |
07/2007 12/2007 |
9 |
$73,742.00 |
|
01/2008 06/2008 |
0 |
$0.00 |
|
|
Total FY2008 |
9 |
$73,742.00 |
|
|
New or Proposed Construction |
07/2007 12/2007 |
1 |
$8,534.00 |
|
01/2008 06/2008 |
0 |
$0.00 |
|
|
Total FY2008 |
1 |
$8,534.00 |
Borrowers Profile
|
Ethnicity |
Time Period |
No. Loans |
Dollar Amount |
Percent |
Mean Income |
Median Income |
|
Non-Minority |
07/2007 12/2007 |
6 |
$54,146.00 |
60.0% |
$30,692.24 |
$29,270.52 |
|
01/2008 06/2008 |
0 |
$0.00 |
0.0% |
$0.00 |
$0.00 |
|
|
Total FY2008 |
6 |
$54,146.00 |
60.0% |
$30,692.24 |
$29,270.52 |
|
|
Minority |
07/2007 12/2007 |
4 |
$28,130.00 |
40.0% |
$31,870.20 |
$31,040.22 |
|
01/2008 06/2008 |
0 |
$0.00 |
0.0% |
$0.00 |
$0.00 |
|
|
Total FY2008 |
4 |
$28,130.00 |
40.0% |
$31,870.20 |
$31,040.22 |
|
Gender of Head of Household |
Time Period |
No. Loans |
Percent |
|
Male |
07/2007 12/2007 |
6 |
60.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
6 |
60.0% |
|
|
Female |
07/2007 12/2007 |
4 |
40.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
4 |
40.0% |
|
Age of Head of Household |
Time Period |
No. Loans |
Percent |
|
18 to 22 |
07/2007 12/2007 |
1 |
10.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
1 |
10.0% |
|
|
23 to 30 |
07/2007 12/2007 |
4 |
40.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
4 |
40.0% |
|
|
31 to 40 |
07/2007 12/2007 |
3 |
30.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
3 |
30.0% |
|
|
41 to 50 |
07/2007 12/2007 |
2 |
20.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
2 |
20.0% |
|
|
51 to 60 |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
0 |
0.0% |
|
|
61 to 70 |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
0 |
0.0% |
|
|
71+ |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
0 |
0.0% |
|
|
Average Age |
07/2007 12/2007 |
32.1 |
|
|
01/2008 06/2008 |
0.0 |
||
|
Total FY2008 |
32.1 |
|
Average Household Size |
07/2007 12/2007 |
2.3 |
|
01/2008 06/2008 |
0.0 |
|
|
Total FY2008 |
2.3 |
|
TOTAL HOMEOWNERSHIP: |
|||
|
07/2007 12/2007 |
01/2008 06/2008 |
Total FY2008 |
|
|
$9,380,419.00 |
$6,802,704.00 |
$16,183,123.00 |
|
HOUSING PRODUCTION (HP)
Program Partners:
N/A
HOME Allocations / Board Approvals by Type
|
Type |
Time Period |
No. Units |
HOME Funds |
|
Total |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 06/2008 |
0 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
Low Income Housing Tax Credits / Board Approvals (only one round per fiscal year)
|
No. Units |
Federal LIHTC |
State LIHTC |
Total LIHTC |
Average Per Unit |
|
0 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Multifamily Housing Bonds
No Multifamily Housing Bond Activity FY2008
|
TOTAL HOUSING PRODUCTION: |
|||
|
07/2007 12/2007 |
01/2008 06/2008 |
Total FY2008 |
|
|
$0.00 |
$0.00 |
$0.00 |
|
DEVELOPMENT FINANCE
|
DEVELOPMENT FINANCE: |
|||
|
07/2007 12/2007 |
01/2008 06/2008 |
Total FY2008 |
|
|
$0.00 |
$0.00 |
$0.00 |
|
OTHER PROGRAM(S)
Rehab / Disability Loan Program
|
7/2007 - 12/2007 |
1/2008 - 6/2008 |
FY2008 TOTAL |
||||
|
No. Loans |
Dollar Amount |
No. Loans |
Dollar Amount |
No. Loans |
Dollar Amount |
Average Per Unit |
|
0 |
$0.00 |
0 |
$0.00 |
0 |
$0.00 |
$0.00 |
TOTAL FUNDS FOR
CRITTENDEN
COUNTY|
07/2007 12/2007 |
01/2008 06/2008 |
Total FY2008 |
|
$9,380,419.00 |
$6,802,704.00 |
$16,183,123.00 |
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