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
Saline 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 |
16 |
$1,403,196.00 |
$87,699.75 |
$86,228.50 |
|
01/2007 – 06/2007 |
31 |
$2,835,451.00 |
$91.466.16 |
$86,317.00 |
|
Total FY2007 |
47 |
$4,238,647.00 |
$90,183.98 |
$86,272.75 |
|
Loan Cancellation Rate – Total FY2007: |
17.5% |
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 Security, Searcy, AR |
1 |
$67,467.00 |
0 |
$0.00 |
1 |
$67,467.00 |
|
Arvest Mortgage Company, Lowell, AR |
0 |
$0.00 |
1 |
$97,186.00 |
1 |
$97,186.00 |
|
Bank of Little Rock Mortgage, Benton, AR |
0 |
$0.00 |
2 |
$218,671.00 |
2 |
$218,671.00 |
|
Bank of the Ozarks, Little Rock, AR |
1 |
$96,387.00 |
0 |
$0.00 |
1 |
$96,387.00 |
|
Elk Horn Bank Trust, Arkadelphia, AR |
0 |
$0.00 |
1 |
$139,900.00 |
1 |
$139,900.00 |
|
Metropolitan National Bank, Little Rock, AR |
1 |
$40,092.00 |
1 |
$94,254.00 |
2 |
$134,346.00 |
|
Moore Mortgage, Little Rock, AR |
1 |
$105,346.00 |
5 |
$414,806.00 |
6 |
$520,152.00 |
|
One Bank & Trust, Little Rock, AR |
3 |
$302,300.00 |
1 |
$142,000.00 |
4 |
$444,300.00 |
|
Pulaski Mortgage Company, Little Rock, AR |
1 |
$87,132.00 |
6 |
$576,225.00 |
7 |
$663,357.00 |
|
Regions Mortgage, Inc., Benton, AR |
5 |
$463,697.00 |
5 |
$415,477.00 |
10 |
$879,174.00 |
|
Regions Mortgage, Inc., Little Rock, AR |
0 |
$0.00 |
1 |
$130,950.00 |
1 |
$130,950.00 |
|
Simmons First National Bank, Pine Bluff, AR |
0 |
$0.00 |
1 |
$110,269.00 |
1 |
$110,269.00 |
|
Summit Bank, Inc., Benton, AR |
1 |
$79,250.00 |
2 |
$119,673.00 |
3 |
$198,923.00 |
|
Summit Bank, Inc., Hot Springs, AR |
0 |
$0.00 |
1 |
$104,300.00 |
1 |
$104,300.00 |
|
Telcoe Federal Credit Union, Little Rock, AR |
0 |
$0.00 |
1 |
$115,090.00 |
1 |
$115,090.00 |
|
The Carroll Mortgage Group, Inc., Little Rock, AR |
1 |
$101,753.00 |
0 |
$0.00 |
1 |
$101,753.00 |
|
US Bank Home Mortgage, North Little Rock, AR |
1 |
$59,772.00 |
3 |
$156,650.00 |
4 |
$216,422.00 |
Loans by New / Existing
|
New / Existing |
Time Period |
No. Loans |
Dollar Amount |
|
Existing Construction |
07/2006 – 12/2006 |
14 |
$1,190,257.00 |
|
01/2007 – 06/2007 |
26 |
$2,237,584.00 |
|
|
Total FY2007 |
40 |
$3,427,841.00 |
|
|
New or Proposed Construction |
07/2006 – 12/2006 |
2 |
$212,939.00 |
|
01/2007 – 06/2007 |
5 |
$597,867.00 |
|
|
Total FY2007 |
7 |
$810,806.00 |
Loans by Loan Type
|
Loan Type |
Time Period |
No. Loans |
Dollar Amount |
|
FHA |
07/2006 – 12/2006 |
11 |
$909,243.00 |
|
01/2007 – 06/2007 |
21 |
$1,869,627.00 |
|
|
Total FY2007 |
32 |
$2,778,870.00 |
|
|
VA |
07/2006 – 12/2006 |
1 |
$89,900.00 |
|
01/2007 - 06/2007 |
0 |
$0.00 |
|
|
Total FY2007 |
1 |
$89,900.00 |
|
|
Conventional |
07/2006 – 12/2006 |
4 |
$404,053.00 |
|
01/2007 – 06/2007 |
10 |
$965,824.00 |
|
|
Total FY2007 |
14 |
$1,369,877.00 |
|
|
Rural Development |
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 |
13 |
$1,114,663.00 |
81.2% |
$41,108.18 |
$43,728.00 |
|
01/2007 – 06/2007 |
26 |
$2,366,564.00 |
83.9% |
$36,879.93 |
$39,738.90 |
|
|
Total FY2007 |
39 |
$3,481,227.00 |
83.0% |
$38,994.06 |
$41,733.45 |
|
|
Minority |
07/2006 – 12/2006 |
3 |
$288,533.00 |
18.8% |
$42,548.44 |
$43,260.00 |
|
01/2007 – 06/2007 |
5 |
$468,887.00 |
16.1% |
$29,161.34 |
$32,316.00 |
|
|
Total FY2007 |
8 |
$757,420.00 |
17.0% |
$35,854.89 |
$37,788.00 |
|
Gender of Head of Household |
Time Period |
No. Loans |
Percent |
|
Male |
07/2006 – 12/2006 |
9 |
56.3% |
|
01/2007 – 06/2007 |
20 |
64.5% |
|
|
Total FY2007 |
29 |
61.7% |
|
|
Female |
07/2006 – 12/2006 |
7 |
43.7% |
|
01/2007 – 06/2007 |
11 |
35.5% |
|
|
Total FY2007 |
18 |
38.3% |
|
Age of Head of Household |
Time Period |
No. Loans |
Percent |
|
18 to 22 |
07/2006 – 12/2006 |
2 |
12.5% |
|
01/2007 – 06/2007 |
6 |
19.4% |
|
|
Total FY2007 |
8 |
17.0% |
|
|
23 to 30 |
07/2006 - 12/2006 |
6 |
37.5% |
|
01/2007 – 06/2007 |
14 |
45.2% |
|
|
Total FY2007 |
20 |
42.6% |
|
|
31 to 40 |
07/2006 – 12/2006 |
3 |
18.6% |
|
01/2007 – 06/2007 |
5 |
16.1% |
|
|
Total FY2007 |
8 |
17.0% |
|
|
41 to 50 |
07/2006 – 12/2006 |
1 |
1.2% |
|
01/2007 – 06/2007 |
4 |
12.9% |
|
|
Total FY2007 |
5 |
10.6% |
|
|
51 to 60 |
07/2006 – 12/2006 |
4 |
25.0% |
|
01/2007 – 06/2007 |
2 |
3.2% |
|
|
Total FY2007 |
6 |
12.8% |
|
|
61 to 70 |
07/2006 – 12/2006 |
0 |
0.0% |
|
01/2007 – 06/2007 |
0 |
0.0% |
|
|
Total FY2007 |
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 |
33.9 |
|
|
01/2007 – 06/2007 |
29.8 |
||
|
Total FY2007 |
31.9 |
|
Average Household Size |
07/2006 – 12/2006 |
2.1 |
|
01/2007 – 06/2007 |
2.0 |
|
|
Total FY2007 |
2.1 |
Down Payment Assistance Program (DPA)
General Statistics
|
Time Period |
No. Loans |
Dollar Amount |
Mean Loan Amount |
% of H2O Loans |
|
07/2006 – 12/2006 |
11 |
$38,163.00 |
$3,469.36 |
68.8% |
|
01/2007 – 06/2007 |
17 |
$65,395.00 |
$3,846.76 |
54.8% |
|
Total FY2007 |
28 |
$103,558.00 |
$3,698.50 |
59.6% |
|
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 |
|
Argenta Neighborworks Homeownership Center |
0 |
$0.00 |
2 |
$4,300.00 |
2 |
$4,300.00 |
|
Black Community Development Program, Inc. |
1 |
$3,700.00 |
0 |
$0.00 |
1 |
$3,700.00 |
|
Community Resources Tech |
3 |
$7,185.00 |
3 |
$7,365.00 |
6 |
$14,550.00 |
|
Dream Makers Housing Counseling Agency, Inc. |
0 |
$0.00 |
2 |
$12,000.00 |
2 |
$12,000.00 |
|
Family Service Agency |
0 |
$0.00 |
1 |
$6,000.00 |
1 |
$6,000.00 |
|
In Affordable Housing, Inc. |
6 |
$24,778.00 |
9 |
$35,730.00 |
15 |
$60,508.00 |
|
Promise Land CDC |
1 |
$2,500.00 |
0 |
$0.00 |
1 |
$2,500.00 |
Loans by New / Existing
|
New / Existing |
Time Period |
No. Loans |
Dollar Amount |
|
Existing Construction |
07/2006 – 12/2006 |
11 |
$38,163.00 |
|
01/2007 – 06/2007 |
14 |
$50,395.00 |
|
|
Total FY2007 |
25 |
$88,558.00 |
|
|
New or Proposed Construction |
07/2006 – 12/2006 |
0 |
$0.00 |
|
01/2007 – 06/2007 |
3 |
$15,000.00 |
|
|
Total FY2007 |
3 |
$15,000.00 |
Borrowers’ Profile
|
Ethnicity |
Time Period |
No. Loans |
Dollar Amount |
Percent |
Mean Income |
Median Income |
|
Non-Minority |
07/2006 – 12/2006 |
9 |
$30,763.00 |
81.8% |
$44,619.48 |
$46,735.56 |
|
01/2007 – 06/2007 |
15 |
$57,715.00 |
88.2% |
$44,584.74 |
$47,367.78 |
|
|
Total FY2007 |
24 |
$88,478.00 |
85.7% |
$44,602.11 |
$47,051.67 |
|
|
Minority |
07/2006 – 12/2006 |
2 |
$7,400.00 |
18.2% |
$42,192.66 |
$42,192.66 |
|
01/2007 – 06/2007 |
2 |
$7,680.00 |
11.8% |
$34,926.00 |
$34,926.00 |
|
|
Total FY2007 |
4 |
$15,080.00 |
14.3% |
$38,559.33 |
$38,559.33 |
|
Gender of Head of Household |
Time Period |
No. Loans |
Percent |
|
Male |
07/2006 – 12/2006 |
6 |
54.5% |
|
01/2007 – 06/2007 |
10 |
58.8% |
|
|
Total FY2007 |
16 |
57.1% |
|
|
Female |
07/2006 – 12/2006 |
5 |
45.5% |
|
01/2007 – 06/2007 |
7 |
41.2% |
|
|
Total FY2007 |
12 |
42.9% |
|
Age of Head of Household |
Time Period |
No. Loans |
Percent |
|
18 to 22 |
07/2006 – 12/2006 |
1 |
9.1% |
|
01/2007 – 06/2007 |
4 |
23.5% |
|
|
Total FY2007 |
5 |
17.9% |
|
|
23 to 30 |
07/2006 – 12/2006 |
6 |
54.5% |
|
01/2007 – 06/2007 |
8 |
47.1% |
|
|
Total FY2007 |
14 |
50.0% |
|
|
31 to 40 |
07/2006 – 12/2006 |
1 |
9.1% |
|
01/2007 – 06/2007 |
2 |
11.7% |
|
|
Total FY2007 |
3 |
10.7% |
|
|
41 to 50 |
07/2006 – 12/2006 |
0 |
0.0% |
|
01/2007 – 06/2007 |
3 |
17.6% |
|
|
Total FY2007 |
3 |
10.7% |
|
|
51 to 60 |
07/2006 – 12/2006 |
3 |
27.3% |
|
01/2007 – 06/2007 |
0 |
0.0% |
|
|
Total FY2007 |
3 |
10.7% |
|
|
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 |
32.6 |
|
|
01/2007 – 06/2007 |
27.2 |
||
|
Total FY2007 |
29.9 |
|
Average Household Size |
07/2006 – 12/2006 |
2.0 |
|
01/2007 – 06/2007 |
2.1 |
|
|
Total FY2007 |
2.1 |
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 |
$9,472.22 |
$4,736.11 |
12.5% |
|
01/2007 – 06/2007 |
6 |
$30,329.00 |
$5,054.83 |
19.4% |
|
Total FY2007 |
8 |
$39,801.22 |
$4,975.15 |
17.0% |
|
Loan Cancellation Rate - Total FY2007: |
46.7% |
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. |
0 |
$0.00 |
1 |
$5,168.00 |
1 |
$5,168.00 |
|
Community Resources Tech |
0 |
$0.00 |
3 |
$15,136.00 |
3 |
$15,136.00 |
|
In Affordable Housing, Inc. |
2 |
$9,472.22 |
2 |
$10,025.00 |
4 |
$19,497.22 |
Loans by New / Existing
|
New / Existing |
Time Period |
No. Loans |
Dollar Amount |
|
Existing Construction |
07/2006 – 12/2006 |
2 |
$9,472.22 |
|
01/2007 – 06/2007 |
5 |
$25,209.00 |
|
|
Total FY2007 |
7 |
$34,681.22 |
|
|
New or Proposed Construction |
07/2006 – 12/2006 |
0 |
$0.00 |
|
01/2007 – 06/2007 |
1 |
$5,120.00 |
|
|
Total FY2007 |
1 |
$5,120.00 |
Borrowers’ Profile
|
Ethnicity |
Time Period |
No. Loans |
Dollar Amount |
Percent |
Mean Income |
Median Income |
|
Non-Minority |
07/2006 – 12/2006 |
2 |
$9,472.22 |
100.0% |
$29,685.00 |
$29,685.00 |
|
01/2007 – 06/2007 |
5 |
$25,209.00 |
83.3% |
$14,904.41 |
$14,472.00 |
|
|
Total FY2007 |
7 |
$34,681.22 |
87.5% |
$22,294.71 |
$22,078.50 |
|
|
Minority |
07/2006 – 12/2006 |
0 |
$0.00 |
0.0% |
$0.00 |
$0.00 |
|
01/2007 – 06/2007 |
1 |
$5,120.00 |
16.7% |
$37,644.00 |
$37,644.00 |
|
|
Total FY2007 |
1 |
$5,120.00 |
16.7% |
$37,644.00 |
$37,644.00 |
|
Gender of Head of Household |
Time Period |
No. Loans |
Percent |
|
Male |
07/2006 – 12/2006 |
2 |
100.0% |
|
01/2007 – 06/2007 |
1 |
16.7% |
|
|
Total FY2007 |
3 |
37.5% |
|
|
Female |
07/2006 – 12/2006 |
0 |
0.0% |
|
01/2007 – 06/2007 |
5 |
83.3% |
|
|
Total FY2007 |
5 |
62.5% |
|
Age of Head of Household |
Time Period |
No. Loans |
Percent |
|
18 to 22 |
07/2006 – 12/2006 |
1 |
50.0% |
|
01/2007 – 06/2007 |
1 |
16.7% |
|
|
Total FY2007 |
2 |
25.0% |
|
|
23 to 30 |
07/2006 – 12/2006 |
1 |
50.0% |
|
01/2007 – 06/2007 |
1 |
16.7% |
|
|
Total FY2007 |
2 |
25.0% |
|
|
31 to 40 |
07/2006 – 12/2006 |
0 |
0.0% |
|
01/2007 – 06/2007 |
2 |
33.3% |
|
|
Total FY2007 |
2 |
25.0% |
|
|
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 |
2 |
33.3% |
|
|
Total FY2007 |
2 |
25.0% |
|
|
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 |
22.5 |
|
|
01/2007 – 06/2007 |
39.7 |
||
|
Total FY2007 |
31.1 |
|
Average Household Size |
07/2006 – 12/2006 |
1.5 |
|
01/2007 – 06/2007 |
1.8 |
|
|
Total FY2007 |
1.7 |
|
TOTAL HOMEOWNERSHIP: |
|
||
|
07/2006 – 12/2006 |
01/2007 – 06/2007 |
Total FY2007 |
|
|
$1,450,831.22 |
$2,931,175.00 |
$4,382,006.22 |
|
HOUSING PRODUCTION (HP)
Program Partners:
N/A
HOME Allocations / Board Approvals by Type
No HOME Program Activity FY2007
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 Program Activity FY2007
|
TOTAL HOUSING PRODUCTION: |
|
||
|
07/2006 – 12/2006 |
01/2007 – 06/2007 |
Total FY2007 |
|
|
$0.00 |
$0.00 |
$0.00 |
|
DEVELOPMENT FINANCE
No Development Finance Programs Activities FY2007
|
DEVELOPMENT FINANCE: |
|
||
|
07/2006 – 12/2006 |
01/2007 – 06/2007 |
Total FY2007 |
|
|
$0.00 |
$0.00 |
$0.00 |
|
OTHER PROGRAM(S)
Rehab / Disability Loan Program
No Rehab / Disability Loan Program Activity FY2007
TOTAL FUNDS FOR
SALINE COUNTY
|
07/2006 – 12/2006 |
01/2007 – 06/2007 |
Total FY2007 |
|
$1,450,831.22 |
$2,931,175.00 |
$4,382,006.22 |