REPORT OF PROGRAM ACTIVITY
FISCAL YEAR 2007: July 1, 2006 – June 30, 2007
1st Half of FY2007 = July 1, 2006 – December 31, 2006
2nd Half of FY2007 = January 1, 2007 – June 30, 2007
cRITTENDEN County
in Congressional District 1
HOMEOWNERSHIP
Home-to-Own (H2O)
General Statistics
|
Time Period |
No. Loans |
Dollar Amount |
Mean Loan Amount |
Median Loan Amount |
|
07/2006 – 12/2006 |
96 |
$10,253.957.00 |
$106,812.05 |
$104,361.00 |
|
01/2007 – 06/2007 |
95 |
$9,636,936.00 |
$101,441.43 |
$100,000.00 |
|
Total FY2007 |
191 |
$19,890,893.00 |
$104,140.80 |
$102,180.50 |
|
Loan Cancellation Rate – Total FY2007: |
10.7% |
Loans by Originator / Branch
|
|
7/1/06 - 12/31/06 |
1/1/07 - 6/30/07 |
TOTAL FY 2007 |
|||
|
ORIGINATOR / BRANCH |
NO. LOANS |
DOLLAR AMOUNT |
NO. LOANS |
DOLLAR AMOUNT |
NO. LOANS |
DOLLAR AMOUNT |
|
1st Home Mortgage, Inc., Jonesboro, AR |
1 |
$100,510.00 |
0 |
$0.00 |
1 |
$100,510.00 |
|
BancorpSouth, Jonesboro, AR |
1 |
$52,000.00 |
0 |
$0.00 |
1 |
$52,000.00 |
|
Bank of America, West Memphis, AR |
1 |
$110,767.00 |
0 |
$0.00 |
1 |
$110,767.00 |
|
First Community Bank, Marion, AR |
0 |
$0.00 |
1 |
$79,560.00 |
1 |
$79,560.00 |
|
First Horizon Home Loan Corp, West Memphis, AR |
10 |
$971,962.00 |
7 |
$712,906.00 |
17 |
$1,684,868.00 |
|
Guaranty Loan, West Memphis, AR |
2 |
$284,950.00 |
1 |
$62,500.00 |
3 |
$347,450.00 |
|
Pulaski Mortgage Company, West Memphis, AR |
79 |
$8,525,923.00 |
85 |
$8,654,970.00 |
164 |
$17,180,893.00 |
|
Regions Mortgage, Inc., Little Rock, AR |
0 |
$0.00 |
1 |
$127,000.00 |
1 |
$127,000.00 |
|
Regions Mortgage, Inc., Marion, AR |
1 |
$82,845.00 |
0 |
$0.00 |
1 |
$82,845.00 |
|
Regions Mortgage, Inc., Searcy, AR |
1 |
$125,000.00 |
0 |
$0.00 |
1 |
$125,000.00 |
Loans by New / Existing
|
New / Existing |
Time Period |
No. Loans |
Dollar Amount |
|
Existing Construction |
07/2006 – 12/2006 |
16 |
$2,291,183.00 |
|
01/2007 – 06/2007 |
85 |
$8,136,141.00 |
|
|
Total FY2007 |
101 |
$10,427,324.00 |
|
|
New or Proposed Construction |
07/2006 – 12/2006 |
80 |
$7,962,774.00 |
|
01/2007 – 06/2007 |
10 |
$1,500,795.00 |
|
|
Total FY2007 |
90 |
$9,463,569.00 |
Loans by Loan Type
|
Loan Type |
Time Period |
No. Loans |
Dollar Amount |
|
FHA |
07/2006 – 12/2006 |
39 |
$3,881,964.00 |
|
01/2007 – 06/2007 |
39 |
$3,461,281.00 |
|
|
Total FY2007 |
78 |
$7,343,245.00 |
|
|
VA |
07/2006 – 12/2006 |
4 |
$345,312.00 |
|
01/2007 - 06/2007 |
6 |
$703,613.00 |
|
|
Total FY2007 |
10 |
$1,048,925.00 |
|
|
Conventional |
07/2006 – 12/2006 |
37 |
$4,110,717.00 |
|
01/2007 – 06/2007 |
44 |
$4,791,872.00 |
|
|
Total FY2007 |
81 |
$8,902,589.00 |
|
|
Rural Development |
07/2006 – 12/2006 |
16 |
$1,915,964.00 |
|
01/2007 – 06/2007 |
6 |
$680,170.00 |
|
|
Total FY2007 |
22 |
$2,596,134.00 |
Borrowers’ Profile
|
Ethnicity |
Time Period |
No. Loans |
Dollar Amount |
Percent |
Mean Income |
Median Income |
|
Non-Minority |
07/2006 – 12/2006 |
66 |
$6,864,953.00 |
68.7% |
$49,258.75 |
$50,669.34 |
|
01/2007 – 06/2007 |
70 |
$7,250,237.00 |
73.7% |
$45,348.37 |
$44,359.38 |
|
|
Total FY2007 |
136 |
$14,115,190.00 |
71.2% |
$47,303.56 |
$47,514.36 |
|
|
Minority |
07/2006 – 12/2006 |
30 |
$3,389,004.00 |
31.3% |
$44,474.08 |
$46,585.74 |
|
01/2007 – 06/2007 |
25 |
$2,386,699.00 |
26.3% |
$44,112.05 |
$42,806.04 |
|
|
Total FY2007 |
55 |
$5,775,703.00 |
28.8% |
$44,293.07 |
$44,695.89 |
|
Gender of Head of Household |
Time Period |
No. Loans |
Percent |
|
Male |
07/2006 – 12/2006 |
55 |
57.3% |
|
01/2007 – 06/2007 |
54 |
56.8% |
|
|
Total FY2007 |
109 |
57.1% |
|
|
Female |
07/2006 – 12/2006 |
40 |
41.7% |
|
01/2007 – 06/2007 |
35 |
36.8% |
|
|
Total FY2007 |
75 |
39.2% |
|
Age of Head of Household |
Time Period |
No. Loans |
Percent |
|
18 to 22 |
07/2006 – 12/2006 |
4 |
4.2% |
|
01/2007 – 06/2007 |
7 |
7.4% |
|
|
Total FY2007 |
11 |
5.8% |
|
|
23 to 30 |
07/2006 - 12/2006 |
31 |
32.3% |
|
01/2007 – 06/2007 |
25 |
26.3% |
|
|
Total FY2007 |
56 |
29.3% |
|
|
31 to 40 |
07/2006 – 12/2006 |
31 |
32.3% |
|
01/2007 – 06/2007 |
26 |
27.4% |
|
|
Total FY2007 |
57 |
29.8% |
|
|
41 to 50 |
07/2006 – 12/2006 |
14 |
14.6% |
|
01/2007 – 06/2007 |
19 |
20.0% |
|
|
Total FY2007 |
33 |
17.3% |
|
|
51 to 60 |
07/2006 – 12/2006 |
13 |
13.5% |
|
01/2007 – 06/2007 |
7 |
7.4% |
|
|
Total FY2007 |
20 |
10.5% |
|
|
61 to 70 |
07/2006 – 12/2006 |
3 |
3.1% |
|
01/2007 – 06/2007 |
4 |
4.2% |
|
|
Total FY2007 |
7 |
3.7% |
|
|
71+ |
07/2006 – 12/2006 |
0 |
0.0% |
|
01/2007 – 06/2007 |
1 |
1.1% |
|
|
Total FY2007 |
1 |
0.5% |
|
|
Unknown |
07/2006 – 12/2006 |
0 |
0.0% |
|
01/2007 – 06/2007 |
6 |
6.3% |
|
|
Total FY2007 |
6 |
3.1% |
|
|
Average Age |
07/2006 – 12/2006 |
36.8 |
|
|
01/2007 – 06/2007 |
37.0 |
||
|
Total FY2007 |
36.9 |
|
Average Household Size |
07/2006 – 12/2006 |
2.3 |
|
01/2007 – 06/2007 |
2.1 |
|
|
Total FY2007 |
2.2 |
Down Payment Assistance Program (DPA)
General Statistics
|
Time Period |
No. Loans |
Dollar Amount |
Mean Loan Amount |
% of H2O Loans |
|
07/2006 – 12/2006 |
17 |
$49,141.00 |
$2,890.65 |
17.7% |
|
01/2007 – 06/2007 |
38 |
$115,191.00 |
$3,031.34 |
40.0% |
|
Total FY2007 |
55 |
$164,332.00 |
$2,987.85 |
28.8% |
|
Loan Cancellation - Total FY2007: |
5.2% |
Loans by Homebuyer Counselor
|
|
7/1/06 - 12/31/06 |
1/1/07 - 6/30/07 |
TOTAL FY 2007 |
|||
|
HOMEBUYER COUNSELOR |
NO. LOANS |
DOLLAR AMOUNT |
NO. LOANS |
DOLLAR AMOUNT |
NO. LOANS |
DOLLAR AMOUNT |
|
Legal Aid of Arkansas |
2 |
$5,695.00 |
3 |
$12,716.00 |
5 |
$18,411.00 |
|
Mississippi County EOC |
15 |
$43,446.00 |
34 |
$100,000.00 |
49 |
$143,446.00 |
|
Unknown |
0 |
$0.00 |
1 |
$2,475.00 |
1 |
$2,475.00 |
Loans by New / Existing
|
New / Existing |
Time Period |
No. Loans |
Dollar Amount |
|
Existing Construction |
07/2006 – 12/2006 |
16 |
$46,141.00 |
|
01/2007 – 06/2007 |
38 |
$115,191.00 |
|
|
Total FY2007 |
54 |
$161,332.00 |
|
|
New or Proposed Construction |
07/2006 – 12/2006 |
1 |
$3,000.00 |
|
01/2007 – 06/2007 |
0 |
$0.00 |
|
|
Total FY2007 |
1 |
$3,000.00 |
Borrowers’ Profile
|
Ethnicity |
Time Period |
No. Loans |
Dollar Amount |
Percent |
Mean Income |
Median Income |
|
Non-Minority |
07/2006 – 12/2006 |
13 |
$38,031.00 |
76.5% |
$55,545.69 |
$56,832.00 |
|
01/2007 – 06/2007 |
27 |
$84,180.00 |
71.1% |
$46,194.84 |
$46,248.00 |
|
|
Total FY2007 |
40 |
$122,211.00 |
72.7% |
$50,870.27 |
$51,540.00 |
|
|
Minority |
07/2006 – 12/2006 |
4 |
$11,110.00 |
23.5% |
$40,275.12 |
$39,000.00 |
|
01/2007 – 06/2007 |
11 |
$31,011.00 |
28.9% |
$38,440.32 |
$39,377.88 |
|
|
Total FY2007 |
15 |
$42,121.00 |
27.3% |
$39,357.72 |
$39,188.94 |
|
Gender of Head of Household |
Time Period |
No. Loans |
Percent |
|
Male |
07/2006 – 12/2006 |
11 |
64.7% |
|
01/2007 – 06/2007 |
22 |
57.9% |
|
|
Total FY2007 |
33 |
60.0% |
|
|
Female |
07/2006 – 12/2006 |
6 |
35.3% |
|
01/2007 – 06/2007 |
15 |
39.5% |
|
|
Total FY2007 |
21 |
38.2% |
|
|
Unknown |
07/2006 – 12/2006 |
0 |
0.0% |
|
01/2007 – 06/2007 |
1 |
2.6% |
|
|
Total FY2007 |
1 |
1.8% |
|
Age of Head of Household |
Time Period |
No. Loans |
Percent |
|
18 to 22 |
07/2006 – 12/2006 |
1 |
5.9% |
|
01/2007 – 06/2007 |
3 |
7.9% |
|
|
Total FY2007 |
4 |
7.3% |
|
|
23 to 30 |
07/2006 – 12/2006 |
5 |
29.4% |
|
01/2007 – 06/2007 |
12 |
31.6% |
|
|
Total FY2007 |
17 |
30.9% |
|
|
31 to 40 |
07/2006 – 12/2006 |
7 |
41.2% |
|
01/2007 – 06/2007 |
13 |
34.2% |
|
|
Total FY2007 |
20 |
36.4% |
|
|
41 to 50 |
07/2006 – 12/2006 |
3 |
17.6% |
|
01/2007 – 06/2007 |
5 |
13.2% |
|
|
Total FY2007 |
8 |
14.5% |
|
|
51 to 60 |
07/2006 – 12/2006 |
1 |
5.9% |
|
01/2007 – 06/2007 |
4 |
10.5% |
|
|
Total FY2007 |
5 |
9.1% |
|
|
61 to 70 |
07/2006 – 12/2006 |
0 |
0.0% |
|
01/2007 – 06/2007 |
0 |
0.0% |
|
|
Total FY2008 |
0 |
0.0% |
|
|
71+ |
07/2006 – 12/2006 |
0 |
0.0% |
|
01/2007 – 06/2007 |
0 |
0.0% |
|
|
Total FY2007 |
0 |
0.0% |
|
|
Unknown |
07/2006 – 12/2006 |
0 |
0.0% |
|
01/2007 – 06/2007 |
1 |
2.6% |
|
|
Total FY2007 |
1 |
1.8% |
|
|
Average Age |
07/2006 – 12/2006 |
35.2 |
|
|
01/2007 – 06/2007 |
33.4 |
||
|
Total FY2007 |
34.3 |
|
Average Household Size |
07/2006 – 12/2006 |
2.3 |
|
01/2007 – 06/2007 |
2.3 |
|
|
Total FY2007 |
2.3 |
American Dream Downpayment Initiative (ADDI) Program
General Statistics
|
Time Period |
No. Loans |
Dollar Amount |
Mean Loan Amount |
% of H2O Loans |
|
07/2006 – 12/2006 |
21 |
$122,669.00 |
$5,841.38 |
21.9% |
|
01/2007 – 06/2007 |
13 |
$78,440.00 |
$6,033.85 |
13.7% |
|
Total FY2007 |
34 |
$201,109.00 |
$5,914.97 |
17.8% |
|
Loan Cancellation Rate - Total FY2007: |
5.6% |
Loans by Homebuyer Counselor
|
|
7/1/06 - 12/31/06 |
1/1/07 - 6/30/07 |
TOTAL FY 2007 |
|||
|
HOMEBUYER COUNSELOR |
NO. LOANS |
DOLLAR AMOUNT |
NO. LOANS |
DOLLAR AMOUNT |
NO. LOANS |
DOLLAR AMOUNT |
|
Legal Aid of Arkansas |
2 |
$18,609.00 |
0 |
$0.00 |
2 |
$18,609.00 |
|
Mississippi County EOC |
19 |
$104,060.00 |
13 |
$78,440.00 |
32 |
$182,500.00 |
Loans by New / Existing
|
New / Existing |
Time Period |
No. Loans |
Dollar Amount |
|
Existing Construction |
07/2006 – 12/2006 |
19 |
$106,037.00 |
|
01/2007 – 06/2007 |
13 |
$78,440.00 |
|
|
Total FY2007 |
32 |
$184,477.00 |
|
|
New or Proposed Construction |
07/2006 – 12/2006 |
2 |
$16,632.00 |
|
01/2007 – 06/2007 |
0 |
$0.00 |
|
|
Total FY2007 |
2 |
$16,632.00 |
Borrowers’ Profile
|
Ethnicity |
Time Period |
No. Loans |
Dollar Amount |
Percent |
Mean Income |
Median Income |
|
Non-Minority |
07/2006 – 12/2006 |
11 |
$59,511.00 |
52.4% |
$26,516.50 |
$24,340.32 |
|
01/2007 – 06/2007 |
7 |
$46,326.00 |
53.8% |
$29,503.20 |
$28,108.20 |
|
|
Total FY2007 |
18 |
$105,837.00 |
52.9% |
$28,009.85 |
$26,224.26 |
|
|
Minority |
07/2006 – 12/2006 |
10 |
$63,158.00 |
47.6% |
$27,840.36 |
$30,753.18 |
|
01/2007 – 06/2007 |
6 |
$32,114.00 |
46.2% |
$33,213.06 |
$34,286.22 |
|
|
Total FY2007 |
16 |
$95,272.00 |
47.1% |
$30,526.71 |
$32,519.70 |
|
Gender of Head of Household |
Time Period |
No. Loans |
Percent |
|
Male |
07/2006 – 12/2006 |
8 |
38.1% |
|
01/2007 – 06/2007 |
6 |
46.2% |
|
|
Total FY2007 |
14 |
41.2% |
|
|
Female |
07/2006 – 12/2006 |
13 |
61.9% |
|
01/2007 – 06/2007 |
6 |
46.2% |
|
|
Total FY2007 |
19 |
55.9% |
|
|
Unknown |
07/2006 – 12/2006 |
0 |
0.0% |
|
01/2007 – 06/2007 |
1 |
7.6% |
|
|
Total FY2007 |
1 |
2.9% |
|
Age of Head of Household |
Time Period |
No. Loans |
Percent |
|
18 to 22 |
07/2006 – 12/2006 |
4 |
19.0% |
|
01/2007 – 06/2007 |
1 |
7.6% |
|
|
Total FY2007 |
5 |
14.7% |
|
|
23 to 30 |
07/2006 – 12/2006 |
4 |
19.0% |
|
01/2007 – 06/2007 |
2 |
15.4% |
|
|
Total FY2007 |
6 |
17.6% |
|
|
31 to 40 |
07/2006 – 12/2006 |
7 |
33.3% |
|
01/2007 – 06/2007 |
6 |
46.2% |
|
|
Total FY2007 |
13 |
38.2% |
|
|
41 to 50 |
07/2006 – 12/2006 |
4 |
19.0% |
|
01/2007 – 06/2007 |
2 |
15.4% |
|
|
Total FY2007 |
6 |
17.6% |
|
|
51 to 60 |
07/2006 – 12/2006 |
1 |
4.8% |
|
01/2007 – 06/2007 |
0 |
0.0% |
|
|
Total FY2007 |
1 |
2.9% |
|
|
61 to 70 |
07/2006 – 12/2006 |
1 |
4.8% |
|
01/2007 – 06/2007 |
1 |
7.6% |
|
|
Total FY2008 |
2 |
5.9% |
|
|
71+ |
07/2006 – 12/2006 |
0 |
0.0% |
|
01/2007 – 06/2007 |
0 |
0.0% |
|
|
Total FY2007 |
0 |
0.0% |
|
|
Unknown |
07/2006 – 12/2006 |
0 |
0.0% |
|
01/2007 – 06/2007 |
1 |
7.6% |
|
|
Total FY2007 |
1 |
2.9% |
|
|
Average Age |
07/2006 – 12/2006 |
36.0 |
|
|
01/2007 – 06/2007 |
33.2 |
||
|
Total FY2007 |
34.6 |
|
Average Household Size |
07/2006 – 12/2006 |
2.3 |
|
01/2007 – 06/2007 |
2.5 |
|
|
Total FY2007 |
2.4 |
|
TOTAL HOMEOWNERSHIP: |
|
||
|
07/2006 – 12/2006 |
01/2007 – 06/2007 |
Total FY2007 |
|
|
$10,425,767.00 |
$9,830,567.00 |
$20,256,334.00 |
|
HOUSING PRODUCTION (HP)
Program Partners:
HOME Allocations / Board Approvals by Type
|
Type |
Time Period |
No. Units |
HOME Funds |
|
Acquisition Rehab |
07/2006 – 12/2006 |
0 |
$0.00 |
|
01/2007 – 06/2006 |
0 |
$0.00 |
|
|
Total FY2007 |
0 |
$0.00 |
|
|
Homeowner Acquisition |
07/2006 – 12/2006 |
0 |
$0.00 |
|
01/2007 – 06/2007 |
0 |
$0.00 |
|
|
Total FY2007 |
0 |
$0.00 |
|
|
Homeowner New Construction |
07/2006 – 12/2006 |
0 |
$0.00 |
|
01/2007 – 06/2007 |
0 |
$0.00 |
|
|
Total FY2007 |
0 |
$0.00 |
|
|
Homeowner Rehab or Mortgage Subsidy |
07/2006 – 12/2006 |
31 |
$1,032,543.73 |
|
01/2007 – 06/2007 |
5 |
$439,750.00 |
|
|
Total FY2007 |
36 |
$1,472,293.73 |
|
|
Rental New Construction |
07/2006 – 12/2006 |
0 |
$0.00 |
|
01/2007 – 06/2007 |
0 |
$0.00 |
|
|
Total FY2007 |
0 |
$0.00 |
|
|
Rental Rehab |
07/2006 – 12/2006 |
0 |
$0.00 |
|
01/2007 – 06/2007 |
0 |
$0.00 |
|
|
Total FY2007 |
0 |
$0.00 |
|
|
Tenant Based Rental Assistance |
07/2006 – 12/2006 |
0 |
$0.00 |
|
01/2007 – 06/2007 |
0 |
$0.00 |
|
|
Total FY2007 |
0 |
$0.00 |
|
|
Total |
07/2006 – 12/2006 |
31 |
$1,032,543.73 |
|
01/2007 – 06/2007 |
5 |
$439,750.00 |
|
|
Total FY2007 |
36 |
$1,472,293.73 |
|
|
Average Amount Per Unit |
07/2006 – 12/2006 |
|
$33,307.86 |
|
01/2007 – 6/2007 |
$87,950.00 |
||
|
Total FY2007 |
$40,890.05 |
Low Income Housing Tax Credits / Board Approvals (only one round per fiscal year)
No LIHTC Program Activity FY2007
Multifamily Housing Bonds
No Multifamily Housing Bond Activity FY2007
|
TOTAL HOUSING PRODUCTION: |
|
||
|
07/2006 – 12/2006 |
01/2007 – 06/2007 |
Total FY2007 |
|
|
$1,032,543.73 |
$439,750.00 |
$1,472,293.73 |
|
DEVELOPMENT FINANCE
|
Program |
Time Period |
No. Projects |
Project Amount |
Average Project Amount |
|
Bond Guaranty |
07/2006 – 12/2006 |
0 |
$0.00 |
$0.00 |
|
01/2007 – 06/2007 |
0 |
$0.00 |
$0.00 |
|
|
Total FY2007 |
0 |
$0.00 |
$0.00 |
|
|
Higher Education Facilities |
07/2006 – 12/2006 |
0 |
$0.00 |
$0.00 |
|
01/2007 – 06/2007 |
1 |
$1,350,000.00 |
$1,350,000.00 |
|
|
Total FY2007 |
1 |
$1,350,000.00 |
$1,350,000.00 |
|
|
Wastewater Revolving Loan Fund |
07/2006 – 12/2006 |
0 |
$0.00 |
$0.00 |
|
01/2007 – 06/2007 |
0 |
$0.00 |
$0.00 |
|
|
Total FY2007 |
0 |
$0.00 |
$0.00 |
|
|
Safe Drinking Water Revolving Loan Fund |
07/2006 – 12/2006 |
0 |
$0.00 |
$0.00 |
|
01/2007 – 06/2007 |
0 |
$0.00 |
$0.00 |
|
|
Total FY2007 |
0 |
$0.00 |
$0.00 |
|
|
State Facilities Financing |
07/2006 – 12/2006 |
0 |
$0.00 |
$0.00 |
|
01/2007 – 06/2007 |
0 |
$0.00 |
$0.00 |
|
|
Total FY2007 |
0 |
$0.00 |
$0.00 |
|
|
Other (Special Projects, Interim Loans, Conduit Issues, Capital Access) |
07/2006 – 12/2006 |
0 |
$0.00 |
$0.00 |
|
01/2007 – 06/2006 |
0 |
$0.00 |
$0.00 |
|
|
Total FY2007 |
0 |
$0.00 |
$0.00 |
|
DEVELOPMENT FINANCE: |
|
||
|
07/2006 – 12/2006 |
01/2007 – 06/2007 |
Total FY2007 |
|
|
$0.00 |
$1,350,000.00 |
$1,350,000.00 |
|
OTHER PROGRAM(S)
Rehab / Disability Loan Program
No Rehab / Disability Loan Program Activity FY2007
TOTAL FUNDS FOR
CRITTENDEN COUNTY
|
07/2006 – 12/2006 |
01/2007 – 06/2007 |
Total FY2007 |
|
$11,458,310.73 |
$11,620,317.00 |
$23,078,627.73 |
Congressional District 1 / Statewide Statistics / Home Page