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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

 

pulaski 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

66

$5,589,586.00

$84,690.70

$86,492.50

01/2007 – 06/2007

44

$4,079,703.00

$92,720.52

$88,455.00

Total FY2007

110

$9,669,289.00

$87,902.63

$87,473.75

 

Loan Cancellation Rate – Total FY2007:

21.4%

 

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

3

$303,295.00

0

$0.00

3

$303,295.00

Arvest Mortgage Company, Lowell, AR

4

$360,209.00

5

$481,998.00

9

$842,207.00

Bank of Little Rock Mortgage, North Little Rock, AR

0

$0.00

1

$71,500.00

1

$71,500.00

Bank of the Ozarks, Little Rock, AR

4

$325,161.00

4

$438,925.00

8

$764,086.00

England Lending, Cabot, AR

1

$98,500.00

0

$0.00

1

$98,500.00

Metropolitan National Bank, Little Rock, AR

7

$496,097.00

4

$349,419.00

11

$845,516.00

Moore Mortgage, Little Rock, AR

4

$305,717.00

3

$314,836.00

7

$620,553.00

One Bank & Trust, Little Rock, AR

2

$230,000.00

1

$112,000.00

3

$342,000.00

Pinnacle Mortgage of Little Rock, Jacksonville, AR

0

$0.00

1

$70,000.00

1

$70,000.00

Pulaski Mortgage Company, Little Rock, AR

28

$2,292,220.00

12

$1,088,735.00

40

$3,380,955.00

Regions Mortgage, Inc., Little Rock, AR

9

$860,487.00

4

$335,580.00

13

$1,196,067.00

Telcoe Federal Credit Union, Little Rock, AR

0

$0.00

1

$146,194.00

1

$146,194.00

The Carroll Mortgage Group, Inc., Little Rock, AR

0

$0.00

4

$367,259.00

4

$367,259.00

United Bank of Springdale, Little Rock, AR

3

$256,270.00

0

$0.00

3

$256,270.00

US Bank Home Mortgage, North Little Rock, AR

1

$61,630.00

4

$303,257.00

5

$364,887.00

 

Loans by New / Existing

 

New / Existing

Time Period

No. Loans

Dollar Amount

Existing Construction

07/2006 – 12/2006

60

$4,858,553.00

01/2007 – 06/2007

38

$3,311,601.00

Total FY2007

98

$8,170,154.00

New or Proposed Construction

07/2006 – 12/2006

6

$731,033.00

01/2007 – 06/2007

6

$768,102.00

Total FY2007

12

$1,499,135.00

 

Loans by Loan Type

 

Loan Type

Time Period

No. Loans

Dollar Amount

FHA

07/2006 – 12/2006

58

$4,753,804.00

01/2007 – 06/2007

37

$3,451,367.00

Total FY2007

95

$8,205,171.00

VA

07/2006 – 12/2006

2

$216,530.00

01/2007  - 06/2007

0

$0.00

Total FY2007

2

$216,530.00

Conventional

07/2006 – 12/2006

5

$537,400.00

01/2007 – 06/2007

7

$628,336.00

Total FY2007

12

$1,165,736.00

Rural Development

07/2006 – 12/2006

0

$0.00

01/2007 – 06/2007

0

$0.00

Total FY2007

0

$0.00

Unknown

07/2006 – 12/2006

1

$81,852.00

01/2007 – 06/2007

0

$0.00

Total FY2007

1

$81,852.00

 

Borrowers’ Profile

 

 

Ethnicity

 

Time Period

 

No. Loans

 

Dollar Amount

 

Percent

Mean Income

Median Income

Non-Minority

07/2006 – 12/2006

34

$3,116,308.00

51.5%

$39,021.89

$40,232.76

01/2007 – 06/2007

14

$1,377,323.00

31.8%

$35,588.20

$31,606.20

Total FY2007

48

$4,493,631.00

43.6%

$37,305.05

$35,919.48

Minority

07/2006 – 12/2006

32

$2,473,278.00

48.5%

$32,222.85

$31,073.40

01/2007 – 06/2007

29

$2,556,186.00

65.9%

$35,589.76

$34,372.68

Total FY2007

61

$5,029,464.00

55.5%

$33,906.31

$32,723.04

Unknown

07/2006 – 12/2006

0

$0.00

0.0%

$0.00

$0.00

01/2007 – 06/2007

1

$146,194.00

2.3%

$49,319.52

$49,319.52

Total FY2007

1

$146,194.00

0.9%

$49,319.52

$49,319.52

 

Gender of Head of Household

Time Period

No. Loans

Percent

Male

07/2006 – 12/2006

20

30.3%

01/2007 – 06/2007

17

38.6%

Total FY2007

37

33.6%

Female

07/2006 – 12/2006

46

69.7%

01/2007 – 06/2007

27

61.4%

Total FY2007

63

57.3%

 

Age of Head of Household

Time Period

No. Loans

Percent

18 to 22

07/2006 – 12/2006

4

6.1%

01/2007 – 06/2007

3

6.8%

Total FY2007

7

6.4%

23 to 30

07/2006 - 12/2006

31

47.0%

01/2007 – 06/2007

17

38.6%

Total FY2007

48

43.6%

31 to 40

07/2006 – 12/2006

7

10.6%

01/2007 – 06/2007

17

38.6%

Total FY2007

24

21.8%

41 to 50

07/2006 – 12/2006

11

16.7%

01/2007 – 06/2007

6

13.6%

Total FY2007

17

15.4%

51 to 60

07/2006 – 12/2006

10

15.2%

01/2007 – 06/2007

1

2.3%

Total FY2007

11

10.0%

61 to 70

07/2006 – 12/2006

2

3.0%

01/2007 – 06/2007

0

0.0%

Total FY2007

2

1.8%

71+

07/2006 – 12/2006

1

1.8%

01/2007 – 06/2007

0

0.0%

Total FY2007

1

0.9%

 Average Age

07/2006 – 12/2006

35.7

 

01/2007 – 06/2007

32.3

Total FY2007

34.0

 

Average Household Size

07/2006 – 12/2006

2.2

01/2007 – 06/2007

2.4

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

23

$91,782.00

$3,990.52

34.8%

01/2007 – 06/2007

18

$86,770.00

$4,820.56

40.9%

Total FY2007

41

$178,552.00

$4,354.93

37.3%

 

Loan Cancellation -  Total FY2007:

22.6%

 

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

Argenta Neighborworks Homeownership Center

1

$2,750.00

2

$10,600.00

3

$13,350.00

Black Community Development Program, Inc.

3

$11,200.00

2

$8,955.00

5

$20,155.00

Community Resources Tech

8

$27,000.00

4

$20,720.00

12

$47,720.00

Dream Makers Housing Counseling Agency, Inc.

7

$30,879.00

4

$20,676.00

11

$51,555.00

Family Service Agency

0

$0.00

2

$7,100.00

2

$7,100.00

In Affordable Housing, Inc.

2

$8,386.00

4

$18,719.00

6

$27,105.00

Promise Land CDC

2

$11,567.00

0

$0.00

2

$11,567.00

 

Loans by New / Existing

 

New / Existing

Time Period

No. Loans

Dollar Amount

Existing Construction

07/2006 – 12/2006

21

$85,782.00

01/2007 – 06/2007

14

$66,470.00

Total FY2007

35

$152,252.00

New or Proposed Construction

07/2006 – 12/2006

2

$6,000.00

01/2007 – 06/2007

4

$20,300.00

Total FY2007

6

$26,300.00

 

Borrowers’ Profile

 

 

Ethnicity

 

Time Period

No. Loans

Dollar Amount

 

Percent

Mean Income

Median Income

Non-Minority

07/2006 – 12/2006

14

$51,904.00

60.9%

$42,585.27

$44,029.98

01/2007 – 06/2007

5

$26,720.00

27.8%

$44,511.19

$48,180.00

Total FY2007

19

$78,624.00

46.3%

$43,548.23

$46,104.99

Minority

07/2006 – 12/2006

9

$39,878.00

39.1%

$45,458.12

$47,256.60

01/2007 – 06/2007

12

$54,050.00

66.7%

$43,447.27

$41,149.98

Total FY2007

21

$93,928.00

51.2%

$44,452.70

$44,203.29

Unknown

07/2006 – 12/2006

0

$0.00

0.0%

$0.00

$0.00

01/2007 – 06/2007

1

$6,000.00

5.5%

$49,319.52

$49,319.52

Total FY2007

1

$6,000.00

2.4%

$49,319.52

$49,319.52

 

Gender of Head of Household

Time Period

No. Loans

Percent

Male

07/2006 – 12/2006

9

39.1%

01/2007 – 06/2007

8

44.4%

Total FY2007

17

41.5%

Female

07/2006 – 12/2006

14

60.9%

01/2007 – 06/2007

10

55.6%

Total FY2007

24

58.5%

 

Age of Head of Household

Time Period

No. Loans

Percent

18 to 22

07/2006 – 12/2006

1

4.3%

01/2007 – 06/2007

0

0.0%

Total FY2007

1

2.4%

23 to 30

07/2006 – 12/2006

10

43.5%

01/2007 – 06/2007

4

22.2%

Total FY2007

14

34.1%

31 to 40

07/2006 – 12/2006

2

8.7%

01/2007 – 06/2007

8

44.4%

Total FY2007

10

24.4%

41 to 50

07/2006 – 12/2006

7

30.4%

01/2007 – 06/2007

6

33.3%

Total FY2007

13

31.7%

51 to 60

07/2006 – 12/2006

3

13.0%

01/2007 – 06/2007

0

0.0%

Total FY2007

3

7.3%

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

35.8

 

01/2007 – 06/2007

35.8

Total FY2007

35.8

 

Average Household Size

07/2006 – 12/2006

2.1

01/2007 – 06/2007

2.6

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

12

$67,556.00

$5,629.67

18.2%

01/2007 – 06/2007

15

$86,296.00

$5,753.07

34.1%

Total FY2007

27

$153,852.00

$5,698.22

24.5%

 

Loan Cancellation Rate - Total FY2007:

48.1%

 

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

Argenta Neighborworks Homeownership Center

1

$10,000.00

5

$25,887.00

6

$35,887.00

Black Community Development Program, Inc.

1

$4,500.00

0

$0.00

1

$4,500.00

Community Resources Tech

4

$23,200.00

3

$17,733.00

7

$40,933.00

Dream Makers Housing Counseling Agency, Inc.

1

$5,340.00

1

$5,000.00

2

$10,340.00

Family Service Agency

1

$3,408.00

2

$14,801.00

3

$18,209.00

In Affordable Housing, Inc.

4

$21,108.00

4

$22,875.00

8

$43,983.00

 

Loans by New / Existing

 

New / Existing

Time Period

No. Loans

Dollar Amount

Existing Construction

07/2006 – 12/2006

12

$67,556.00

01/2007 – 06/2007

12

$65,113.00

Total FY2007

24

$132,669.00

New or Proposed Construction

07/2006 – 12/2006

0

$0.00

01/2007 – 06/2007

3

$21,183.00

Total FY2007

3

$21,183.00

 

Borrowers’ Profile

 

 

Ethnicity

 

Time Period

No. Loans

Dollar Amount

 

Percent

Mean Income

Median Income

Non-Minority

07/2006 – 12/2006

4

$27,262.00

33.3%

$27,979.02

$27,103.98

01/2007 – 06/2007

7

$35,716.00

46.7%

$26,009.76

$25,644.00

Total FY2007

11

$62,978.00

40.7%

$26,994.39

$26,373.99

Minority

07/2006 – 12/2006

8

$40,294.00

66.7%

$28,156.29

$29,058.54

01/2007 – 06/2007

8

$50,580.00

53.3%

$29,629.58

$28,508.70

Total FY2007

16

$90,874.00

59.3%

$28,892.94

$28,783.62

 

Gender of Head of Household

Time Period

No. Loans

Percent

Male

07/2006 – 12/2006

4

33.3%

01/2007 – 06/2007

3

20.0%

Total FY2007

7

25.9%

Female

07/2006 – 12/2006

8

66.7%

01/2007 – 06/2007

12

80.0%

Total FY2007

20

74.1%

 

Age of Head of Household

Time Period

No. Loans

Percent

18 to 22

07/2006 – 12/2006

1

8.3%

01/2007 – 06/2007

1

6.7%

Total FY2007

2

7.4%

23 to 30

07/2006 – 12/2006

8

66.7%

01/2007 – 06/2007

6

40.0%

Total FY2007

14

51.9%

31 to 40

07/2006 – 12/2006

1

8.3%

01/2007 – 06/2007

5

33.3%

Total FY2007

6

22.2%

41 to 50

07/2006 – 12/2006

1

8.3%

01/2007 – 06/2007

0

0.0%

Total FY2007

1

3.7%

51 to 60

07/2006 – 12/2006

0

0.0%

01/2007 – 06/2007

2

13.3%

Total FY2007

2

7.4%

61 to 70

07/2006 – 12/2006

1

8.3%

01/2007 – 06/2007

1

6.7%

Total FY2008

2

7.4%

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

30.8

 

01/2007 – 06/2007

35.3

Total FY2007

33.1

 

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

$5,748,924.00

$4,252,769.00

$10,001,693.00

       

 

HOUSING PRODUCTION (HP)

 

Program Partners:

 

HOME Allocations / Board Approvals by Type

 

Type

Time Period

No. Units

HOME Funds

Acquisition Rehab

07/2006 – 12/2006

10

$400,000.00

01/2007 – 06/2006

10

$400,000.00

Total FY2007

20

$800,000.00

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

0

$0.00

Total FY2007

0

$0.00

Rental Rehab

07/2006 – 12/2006

0

$0.00

01/2007 – 06/2007

20

$800,000.00

Total FY2007

20

$800,000.00

Tenant Based Rental Assistance

07/2006 – 12/2006

0

$0.00

01/2007 – 06/2007

18

$77,436.00

Total FY2007

18

$77,436.00

Total

07/2006 – 12/2006

10

$400,000.00

01/2007 – 06/2007

48

$1,277,436.00

Total FY2007

58

$1,677,436.00

Average Amount Per Unit

07/2006 – 12/2006

 

$40.000.00

01/2007 – 6/2007

$26,613.25

Total FY2007

$28,921.31

 

Low Income Housing Tax Credits / Board Approvals (only one round per fiscal year)

 

No. Units

Federal LIHTC

State LIHTC

Total LIHTC

Average Per Unit

184

$1,112,540.00

$62,508.00

$1,175,048.00

$6,386.13

 

Multifamily Housing Bonds

 

No Multifamily Housing Bond  Program Activity FY2007

 

TOTAL HOUSING PRODUCTION:

 

07/2006 – 12/2006

01/2007 – 06/2007

Total FY2007

$400,000.00

$2,452,484.00

$2,852,484.00

       

 

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

8

$47,014,846.00

$5,876,855.75

Total FY2007

8

$47,014,846.00

$5,876,855.75

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

$47,014,846.00

$47,014,846.00

       

 

OTHER PROGRAM(S)

 

Rehab / Disability Loan Program

 

Time Period

No. Loans

Dollar Amount

Mean Loan Amount

07/2006 – 12/2006

1

$8,050.00

$8,050.00

01/2007 – 06/2007

0

$0.00

$0.00

Total FY2007

1

$8,050.00

$8,050.00

 

 

TOTAL FUNDS FOR

pulaski COUNTY


 

 

07/2006 – 12/2006

01/2007 – 06/2007

Total FY2007

$6,148,924.00

$53,720,099.00

$59,869,023.00

 

 

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