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
FAULKNER County
in Congressional District 2
HOMEOWNERSHIP
Home-to-Own (H2O)
General Statistics
|
Time Period |
No. Loans |
Dollar Amount |
Mean Loan Amount |
Median Loan Amount |
|
07/2006 – 12/2006 |
12 |
$1,108,766.00 |
$92,397.17 |
$90,231.50 |
|
01/2007 – 06/2007 |
10 |
$891,496.00 |
$89,149,60 |
$89,962.50 |
|
Total FY2007 |
22 |
$2,000,262.00 |
$90,921.00 |
$90,097.00 |
|
Loan Cancellation Rate – Total FY2007: |
29.0% |
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 |
|
Arkansas Federal Credit Union, Jacksonville, AR |
0 |
$0.00 |
1 |
$93,227.00 |
1 |
$93,227.00 |
|
Bank of Little Rock Mortgage, North Little Rock, AR |
0 |
$0.00 |
1 |
$90,640.00 |
1 |
$90,640.00 |
|
Bank of the Ozarks, Little Rock, AR |
1 |
$49,955.00 |
1 |
$88,230.00 |
2 |
$138,185.00 |
|
First Security Bank, Conway, AR |
2 |
$292,208.00 |
3 |
$237,615.00 |
5 |
$529,823.00 |
|
First State Bank, Conway, AR |
0 |
$0.00 |
1 |
$113,403.00 |
1 |
$113,403.00 |
|
Metropolitan National Bank, Little Rock, AR |
2 |
$212,221.00 |
0 |
$0.00 |
2 |
$212,221.00 |
|
Pulaski Mortgage Company, Little Rock, AR |
6 |
$468,919.00 |
0 |
$0.00 |
6 |
$468,919.00 |
|
Pulaski Mortgage, Inc., Conway, AR |
0 |
$0.00 |
2 |
$189,617.00 |
2 |
$189,617.00 |
|
Regions Mortgage, Inc., Little Rock, AR |
0 |
$0.00 |
1 |
$78,764.00 |
1 |
$78,764.00 |
|
United Bank of Springdale, Conway, AR |
1 |
$85,463.00 |
0 |
$0.00 |
1 |
$85,463.00 |
Loans by New / Existing
|
New / Existing |
Time Period |
No. Loans |
Dollar Amount |
|
Existing Construction |
07/2006 – 12/2006 |
8 |
$661,314.00 |
|
01/2007 – 06/2007 |
9 |
$803,266.00 |
|
|
Total FY2007 |
17 |
$1,464,580.00 |
|
|
New or Proposed Construction |
07/2006 – 12/2006 |
4 |
$447,452.00 |
|
01/2007 – 06/2007 |
1 |
$88,230.00 |
|
|
Total FY2007 |
5 |
$535,682.00 |
Loans by Loan Type
|
Loan Type |
Time Period |
No. Loans |
Dollar Amount |
|
FHA |
07/2006 – 12/2006 |
10 |
$951,766.00 |
|
01/2007 – 06/2007 |
7 |
$623,341.00 |
|
|
Total FY2007 |
17 |
$1,575,107.00 |
|
|
VA |
07/2006 – 12/2006 |
0 |
$0.00 |
|
01/2007 - 06/2007 |
0 |
$0.00 |
|
|
Total FY2007 |
0 |
$0.00 |
|
|
Conventional |
07/2006 – 12/2006 |
1 |
$95,000.00 |
|
01/2007 – 06/2007 |
1 |
$90,640.00 |
|
|
Total FY2007 |
2 |
$185,640.00 |
|
|
Rural Development |
07/2006 – 12/2006 |
1 |
$62,000.00 |
|
01/2007 – 06/2007 |
2 |
$177,515.00 |
|
|
Total FY2007 |
3 |
$239,515.00 |
Borrowers’ Profile
|
Ethnicity |
Time Period |
No. Loans |
Dollar Amount |
Percent |
Mean Income |
Median Income |
|
Non-Minority |
07/2006 – 12/2006 |
10 |
$845,995.00 |
83.3% |
$34,836.83 |
$32,527.74 |
|
01/2007 – 06/2007 |
8 |
$733,289.00 |
80.0% |
$34,269.15 |
$36,760.62 |
|
|
Total FY2007 |
18 |
$1,579,284.00 |
81.8% |
$34,552.99 |
$34,644.18 |
|
|
Minority |
07/2006 – 12/2006 |
2 |
$262,771.00 |
16.7% |
$43,125.60 |
$43,125.60 |
|
01/2007 – 06/2007 |
2 |
$158,207.00 |
20.0% |
$42,737.52 |
$42,737.52 |
|
|
Total FY2007 |
4 |
$420,978.00 |
18.2% |
$42,931.56 |
$42,931.56 |
|
Gender of Head of Household |
Time Period |
No. Loans |
Percent |
|
Male |
07/2006 – 12/2006 |
7 |
58.3% |
|
01/2007 – 06/2007 |
3 |
30.0% |
|
|
Total FY2007 |
10 |
45.5% |
|
|
Female |
07/2006 – 12/2006 |
4 |
33.3% |
|
01/2007 – 06/2007 |
7 |
70.0% |
|
|
Total FY2007 |
11 |
50.0% |
|
|
Unknown |
07/2006 – 12/2006 |
1 |
8.3% |
|
01/2007 – 6/2007 |
0 |
0.0% |
|
|
Total FY2007 |
1 |
4.5% |
|
Age of Head of Household |
Time Period |
No. Loans |
Percent |
|
18 to 22 |
07/2006 – 12/2006 |
1 |
8.3% |
|
01/2007 – 06/2007 |
3 |
30.0% |
|
|
Total FY2007 |
4 |
18.2% |
|
|
23 to 30 |
07/2006 - 12/2006 |
7 |
58.3% |
|
01/2007 – 06/2007 |
4 |
40.0% |
|
|
Total FY2007 |
11 |
50.0% |
|
|
31 to 40 |
07/2006 – 12/2006 |
1 |
8.3% |
|
01/2007 – 06/2007 |
2 |
20.0% |
|
|
Total FY2007 |
3 |
13.6% |
|
|
41 to 50 |
07/2006 – 12/2006 |
2 |
16.7% |
|
01/2007 – 06/2007 |
0 |
0.0% |
|
|
Total FY2007 |
2 |
9.1% |
|
|
51 to 60 |
07/2006 – 12/2006 |
0 |
0.0% |
|
01/2007 – 06/2007 |
1 |
10.0% |
|
|
Total FY2007 |
1 |
4.5% |
|
|
61 to 70 |
07/2006 – 12/2006 |
1 |
8.3% |
|
01/2007 – 06/2007 |
0 |
0.0% |
|
|
Total FY2007 |
1 |
4.5% |
|
|
71+ |
07/2006 – 12/2006 |
0 |
0.0% |
|
01/2007 – 06/2007 |
0 |
0.0% |
|
|
Total FY2007 |
0 |
0.0% |
|
|
Average Age |
07/2006 – 12/2006 |
32.3 |
|
|
01/2007 – 06/2007 |
28.8 |
||
|
Total FY2007 |
30.6 |
|
Average Household Size |
07/2006 – 12/2006 |
2.0 |
|
01/2007 – 06/2007 |
2.5 |
|
|
Total FY2007 |
2.3 |
Down Payment Assistance Program (DPA)
General Statistics
|
Time Period |
No. Loans |
Dollar Amount |
Mean Loan Amount |
% of H2O Loans |
|
07/2006 – 12/2006 |
6 |
$27,340.00 |
$4,556.67 |
50.0% |
|
01/2007 – 06/2007 |
2 |
$11,097.00 |
$5,548.50 |
20.0% |
|
Total FY2007 |
8 |
$38,437.00 |
$4,804.63 |
36.4% |
|
Loan Cancellation - Total FY2007: |
20.0% |
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 |
|
Black Community Development Program, Inc. |
1 |
$3,000.00 |
0 |
$0.00 |
1 |
$3,000.00 |
|
Community Resources Tech |
1 |
$5,030.00 |
1 |
$5,097.00 |
2 |
$10,127.00 |
|
Family Service Agency |
1 |
$5,650.00 |
0 |
$0.00 |
1 |
$5,650.00 |
|
In Affordable Housing, Inc. |
2 |
$9,000.00 |
0 |
$0.00 |
2 |
$9,000.00 |
|
Universal Housing Development |
1 |
$4,660.00 |
1 |
$6,000.00 |
2 |
$10,660.00 |
Loans by New / Existing
|
New / Existing |
Time Period |
No. Loans |
Dollar Amount |
|
Existing Construction |
07/2006 – 12/2006 |
5 |
$24,340.00 |
|
01/2007 – 06/2007 |
2 |
$11,097.00 |
|
|
Total FY2007 |
7 |
$35,437.00 |
|
|
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 |
4 |
$18,340.00 |
66.7% |
$41,974.23 |
$43,575.60 |
|
01/2007 – 06/2007 |
2 |
$11,097.00 |
100.0% |
$45,087.96 |
$45,087.96 |
|
|
Total FY2007 |
6 |
$29,437.00 |
75.0% |
$43,531.10 |
$44,331.78 |
|
|
Minority |
07/2006 – 12/2006 |
2 |
$9,000.00 |
33.3% |
$43,152.60 |
$43,152.60 |
|
01/2007 – 06/2007 |
0 |
$0.00 |
0.0% |
$0.00 |
$0.00 |
|
|
Total FY2007 |
2 |
$9,000.00 |
25.0% |
$43,152.60 |
$43,152.60 |
|
Gender of Head of Household |
Time Period |
No. Loans |
Percent |
|
Male |
07/2006 – 12/2006 |
4 |
66.7% |
|
01/2007 – 06/2007 |
0 |
0.0% |
|
|
Total FY2007 |
4 |
50.0% |
|
|
Female |
07/2006 – 12/2006 |
2 |
33.3% |
|
01/2007 – 06/2007 |
2 |
100.0% |
|
|
Total FY2007 |
4 |
50.0% |
|
Age of Head of Household |
Time Period |
No. Loans |
Percent |
|
18 to 22 |
07/2006 – 12/2006 |
0 |
0.0% |
|
01/2007 – 06/2007 |
0 |
0.0% |
|
|
Total FY2007 |
0 |
0.0% |
|
|
23 to 30 |
07/2006 – 12/2006 |
5 |
83.3% |
|
01/2007 – 06/2007 |
1 |
50.0% |
|
|
Total FY2007 |
6 |
75.0% |
|
|
31 to 40 |
07/2006 – 12/2006 |
0 |
0.0% |
|
01/2007 – 06/2007 |
1 |
50.0% |
|
|
Total FY2007 |
1 |
12.5% |
|
|
41 to 50 |
07/2006 – 12/2006 |
1 |
16.7% |
|
01/2007 – 06/2007 |
0 |
0.0% |
|
|
Total FY2007 |
1 |
12.5% |
|
|
51 to 60 |
07/2006 – 12/2006 |
0 |
0.0% |
|
01/2007 – 06/2007 |
0 |
0.0% |
|
|
Total FY2007 |
0 |
0.0% |
|
|
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% |
|
|
Average Age |
07/2006 – 12/2006 |
28.8 |
|
|
01/2007 – 06/2007 |
28.5 |
||
|
Total FY2007 |
28.7 |
|
Average Household Size |
07/2006 – 12/2006 |
1.8 |
|
01/2007 – 06/2007 |
3.0 |
|
|
Total FY2007 |
2.4 |
American Dream Downpayment Initiative (ADDI) Program
General Statistics
|
Time Period |
No. Loans |
Dollar Amount |
Mean Loan Amount |
% of H2O Loans |
|
07/2006 – 12/2006 |
2 |
$8,831.63 |
$4,415.77 |
16.7% |
|
01/2007 – 06/2007 |
2 |
$10,800.00 |
$5,400.00 |
20.0% |
|
Total FY2007 |
4 |
$19,631.63 |
$4,907.88 |
18.2% |
|
Loan Cancellation Rate - Total FY2007: |
60.0% |
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 |
|
Black Community Development Program, Inc. |
1 |
$4,671.63 |
0 |
$0.00 |
1 |
$4,671.63 |
|
Community Resources Tech |
0 |
$0.00 |
1 |
$2,400.00 |
1 |
$2,400.00 |
|
Family Service Agency |
1 |
$4,160.00 |
0 |
$0.00 |
1 |
$4,160.00 |
|
In Affordable Housing, Inc. |
0 |
$0.00 |
1 |
$8,400.00 |
1 |
$8,400.00 |
Loans by New / Existing
|
New / Existing |
Time Period |
No. Loans |
Dollar Amount |
|
Existing Construction |
07/2006 – 12/2006 |
2 |
$8,831.53 |
|
01/2007 – 06/2007 |
2 |
$10,800.00 |
|
|
Total FY2007 |
4 |
$19,631.53 |
|
|
New or Proposed Construction |
07/2006 – 12/2006 |
0 |
$0.00 |
|
01/2007 – 06/2007 |
0 |
$0.00 |
|
|
Total FY2007 |
0 |
$0.00 |
Borrowers’ Profile
|
Ethnicity |
Time Period |
No. Loans |
Dollar Amount |
Percent |
Mean Income |
Median Income |
|
Non-Minority |
07/2006 – 12/2006 |
2 |
$8,831.53 |
100.0% |
$26,344.80 |
$26,344.80 |
|
01/2007 – 06/2007 |
1 |
$2,400.00 |
50.0% |
$32,923.92 |
$32,923.92 |
|
|
Total FY2007 |
3 |
$11,231.53 |
75.0% |
$29,634.36 |
$29,634.36 |
|
|
Minority |
07/2006 – 12/2006 |
0 |
$0.00 |
0.0% |
$0.00 |
$0.00 |
|
01/2007 – 06/2007 |
1 |
$8,400.00 |
50.0% |
$38,576.16 |
$38,576.16 |
|
|
Total FY2007 |
1 |
$8,400.00 |
25.0% |
$38,576.16 |
$38,576.16 |
|
Gender of Head of Household |
Time Period |
No. Loans |
Percent |
|
Male |
07/2006 – 12/2006 |
1 |
50.0% |
|
01/2007 – 06/2007 |
1 |
50.0% |
|
|
Total FY2007 |
2 |
50.0% |
|
|
Female |
07/2006 – 12/2006 |
1 |
50.0% |
|
01/2007 – 06/2007 |
1 |
50.0% |
|
|
Total FY2007 |
2 |
50.0% |
|
Age of Head of Household |
Time Period |
No. Loans |
Percent |
|
18 to 22 |
07/2006 – 12/2006 |
0 |
0.0% |
|
01/2007 – 06/2007 |
0 |
0.0% |
|
|
Total FY2007 |
0 |
0.0% |
|
|
23 to 30 |
07/2006 – 12/2006 |
0 |
0.0% |
|
01/2007 – 06/2007 |
1 |
50.0% |
|
|
Total FY2007 |
1 |
25.0% |
|
|
31 to 40 |
07/2006 – 12/2006 |
1 |
50.0% |
|
01/2007 – 06/2007 |
1 |
50.0% |
|
|
Total FY2007 |
2 |
50.0% |
|
|
41 to 50 |
07/2006 – 12/2006 |
0 |
0.0% |
|
01/2007 – 06/2007 |
0 |
0.0% |
|
|
Total FY2007 |
0 |
0.0% |
|
|
51 to 60 |
07/2006 – 12/2006 |
0 |
0.0% |
|
01/2007 – 06/2007 |
0 |
0.0% |
|
|
Total FY2007 |
0 |
0.0% |
|
|
61 to 70 |
07/2006 – 12/2006 |
1 |
50.0% |
|
01/2007 – 06/2007 |
0 |
0.0% |
|
|
Total FY2008 |
1 |
25.0% |
|
|
71+ |
07/2006 – 12/2006 |
0 |
0.0% |
|
01/2007 – 06/2007 |
0 |
0.0% |
|
|
Total FY2007 |
0 |
0.0% |
|
|
Average Age |
07/2006 – 12/2006 |
49.5 |
|
|
01/2007 – 06/2007 |
30.0 |
||
|
Total FY2007 |
39.8 |
|
Average Household Size |
07/2006 – 12/2006 |
2.0 |
|
01/2007 – 06/2007 |
4.5 |
|
|
Total FY2007 |
3.3 |
|
TOTAL HOMEOWNERSHIP: |
|
||
|
07/2006 – 12/2006 |
01/2007 – 06/2007 |
Total FY2007 |
|
|
$1,144,937.53 |
$913,393.00 |
$2,058,330.53 |
|
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 |
0 |
$0.00 |
|
01/2007 – 06/2007 |
0 |
$0.00 |
|
|
Total FY2007 |
0 |
$0.00 |
|
|
Rental New Construction |
07/2006 – 12/2006 |
0 |
$0.00 |
|
01/2007 – 06/2007 |
30 |
$1,200,000.00 |
|
|
Total FY2007 |
30 |
$1,200,000.00 |
|
|
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 |
8 |
$38,784.00 |
|
|
Total FY2007 |
8 |
$38,784.00 |
|
|
Total |
07/2006 – 12/2006 |
0 |
$0.00 |
|
01/2007 – 06/2007 |
38 |
$1,238,784.00 |
|
|
Total FY2007 |
38 |
$1,238,784.00 |
|
|
Average Amount Per Unit |
07/2006 – 12/2006 |
|
$0.00 |
|
01/2007 – 6/2007 |
$32,599.59 |
||
|
Total FY2007 |
$32,599.59 |
Low Income Housing Tax Credits / Board Approvals (only one round per fiscal year)
|
No. Units |
Federal LIHTC |
State LIHTC |
Total LIHTC |
Average Per Unit |
|
114 |
$1,184,264.00 |
$76,853.00 |
$1,261,117.00 |
$11,062.43 |
Multifamily Housing Bonds
No Multifamily Housing Bond Activity FY2007
|
TOTAL HOUSING PRODUCTION: |
|
||
|
07/2006 – 12/2006 |
01/2007 – 06/2007 |
Total FY2007 |
|
|
$0.00 |
$2,499,901.00 |
$2,499,901.00 |
|
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 |
$12,195,302.00 |
$12,195,302.00 |
|
|
Total FY2007 |
1 |
$12,195,302.00 |
$12,195,302.00 |
|
|
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 |
$12,195,302.00 |
$12,195,302.00 |
|
OTHER PROGRAM(S)
Rehab / Disability Loan Program
No Rehab / Disability Loan Program Activity FY2007
TOTAL FUNDS FOR
FAULKNER COUNTY
|
07/2006 – 12/2006 |
01/2007 – 06/2007 |
Total FY2007 |
|
$1,144,937.53 |
$15,608,596.00 |
$16,753,533.53 |