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Congressional District 4

  1. Ashley
  2. Bradley
  3. Calhoun
  4. Chicot
  5. Clark
  6. Cleveland
  7. Columbia
  8. Dallas
  9. Desha
  10. Drew
  11. Garland
  12. Grant
  13. Hempstead
  14. Hot Spring
  15. Howard
  16. Jefferson
  17. LaFayette
  18. Lincoln
  19. Little River
  20. Miller
  21. Montgomery
  22. Navada
  23. Ouachita
  24. Pike
  25. Sevier
  26. Union

 

 

REPORT OF PROGRAM ACTIVITY

FISCAL YEAR 2006:  July 1, 2005– June 30, 2006

With Comparison to FY 2005 Report

 

See “Statewide” Section for list of FY 2006 Bond Issuances

 

 

CONGRESSIONAL DISTRICT 4

 

 

Counties:     Ashley, Bradley, Calhoun, Chicot, Clark, Cleveland, Columbia, Dallas, Desha, Drew, Garland, Grant, Hempstead, Hot Spring, Howard, Jefferson, Lafayette, Lincoln, Little River, Logan, Miller, Montgomery, Nevada, Ouachita, Pike, Polk, Scott, Sevier and Union

 

HOMEOWNERSHIP

 

HOME-TO-OWN PROGRAM’s Loan Statistics

 

FY

NO. LOANS

DOLLAR AMOUNT

MEAN LOAN AMT.

MEDIAN LOAN AMT.

2006

96

$5,762,773.00

$60,028.89

$59,529.00

2005

72

$4,347,123.00

$60,376.71

$58,007.00

 

Loans by Originator

 

Originator / Branch

FY

No. Loans

Dollar Amount

Arvest Mortgage Company, Lowell, AR

2006

4

$250,451.00

2005

2

$119,462.00

Bank of Dardanelle, Russellville, AR

2006

0

$0.00

2005

1

$66,800.00

Countrywide Home Loans, Inc., North Little Rock, AR

2006

0

$0.00

2005

1

$59,033.00

Elk Horn Bank Trust, Arkadelphia, AR

2006

3

$237,500.00

2005

0

$0.00

First Arkansas Valley Bank, Russellville, AR

2006

1

$62,500.00

2005

0

$0.00

First National Bank, Paris, AR

2006

22

$1,321,095.00

2005

23

$1,279,400.00

First Western Mortgage, Inc., Booneville, AR

2006

2

$113,650.00

2005

4

$161,450.00

Metropolitan National Bank, Little Rock, AR

2006

0

$0.00

2005

2

$136,986.00

Moore Mortgage, Little Rock, AR

2006

2

$77,199.00

2005

0

$0.00

Moore Mortgage, Lowell, AR

2006

0

$0.00

2005

1

$57,596.00

Priority Bank, Ozark, AR

2006

0

$0.00

2005

1

$78,000.00

Pulaski Mortgage Company, Bryant, AR

2006

0

$0.00

2005

1

$77,900.00

Pulaski Mortgage Company, Little Rock, AR

2006

5

$338,252.00

2005

2

$127,889.00

Regions Mortgage, Inc., Benton, AR

2006

0

$0.00

2005

1

$71,872.00

Simmons First, Fort Smith, AR

2006

1

$88,200.00

2005

0

$0.00

Simmons First National Bank, Pine Bluff, AR

2006

55

$3,221,376.00

2005

32

$2,049,736.00

Summit Bank, Inc., Benton, AR

2006

1

$52,550.00

2005

1

$61,000.00

 

Loans by New or Existing

 

New or Existing

FY

No. Loans

Dollar Amount

Existing Construction

2006

93

$5,543,183.00

2005

71

$4,311,040.00

New or Proposed Construction

2006

3

$219,590.00

2005

1

$36,083.00

 

Loans by Loan Type

 

Loan Type

FY

No. Loans

Dollar Amount

FHA

2006

72

$4,207,216.00

2005

52

$3,203,928.00

VA

2006

4

$287,167.00

2005

0

$0.00

Conventional

2006

7

$506,840.00

2005

2

$127,775.00

Rural Development

2006

13

$761,550.00

2005

18

$1,015,420.00

 

Demographics

 

Ethnicity

FY

No. Loans

Dollar Amount

Percent

Non-Minorities

2006

57

$3,516,609.00

59.4%

2005

50

$2,957,196.00

69.4%

Minorities

2006

39

$2,246,164.00

40.6%

2005

21

$1,330,894.00

29.2%

Unknown

2006

0

$0.00

0.0%

2005

1

$59,033.00

1.4%

 

Ethnicity

FY

Mean Income

Median Income

Non-Minorities

2006

$33,219.83

$32,896.92

2005

$33,169.64

$31,788.00

Minorities

2006

$34,005.68

$34,842.24

2005

$35,399.78

$34,248.00

Unknown

2006

$0.00

$0.00

2005

$42,012.00

$42,012.00

 

Gender-Head of Hshld

FY

No.

Pct.

Males

2006

45

46.9%

2005

45

62.5%

Females

2006

51

53.1%

2005

27

37.5%


 

 

FY 2006

Average Age of Head of Household:

 

33.3

FY 2005

 

35.1

 

FY 2006

Average Household Size:

 

2.5

FY 2005

 

2.3

 

 

 

 

FY 2006

Loan Cancellation Rate:

 

16.5%

FY 2005

 

8.8%

 

DOWN PAYMENT ASSISTANCE PROGRAM’s Loan Statistics

 

FY

NO. LOANS

DOLLAR AMOUNT

MEAN LOAN AMT.

% OF H2O LOANS

2006

62

$170,339.00

$2,747.40

64.6%

2005

45

$125,335.00

$2,785.22

62.5%

 

Loans by Homebuyer Counselor

 

Counselor

FY

No. Loans

Dollar Amount

Argenta Neighborworks Homeownership Center, North Little Rock, AR

2006

0

$0.00

2005

2

$6,000.00

Community Resource Technicians, Little Rock, AR

2006

0

$0.00

2005

2

$4,347.00

Crawford Sebastian CDC, Fort Smith, AR

2006

12

$35,275.00

2005

5

$13,695.00

Dream Makers Housing Counseling Agency,  Pine Bluff, AR

2006

35

$93,965.00

2005

30

$83,880.00

Family Service Agency, Little Rock, AR

2006

0

$0.00

2005

1

$3,000.00

In Affordable Housing, Inc., Little Rock, AR

2006

2

$6,000.00

2005

4

$11,413.00

Mississippi County EOC, Blytheville, AR

2006

0

$0.00

2005

1

$3,000.00

South Arkansas CDC

2006

1

$3,000.00

2005

0

$0.00

Universal Housing Development Corporation, Russellville, AR

2006

1

$3,000.00

2005

0

$0.00

Unknown

2006

11

$29,099.00

2005

0

$0.00

 

Loans by New or Existing

 

New or Existing

FY

No. Loans

Dollar Amount

Existing Construction

2006

62

$170,339.00

2005

43

$119,740.00

New or Proposed Construction

2006

0

$0.00

2005

2

$5,595.00

 


 

Demographics

 

Ethnicity

FY

No. Loans

Dollar Amount

Pct

Non-Minorities

2006

34

$96,320.00

54.8%

2005

22

$65,745.00

48.9%

Minorities

2006

28

$74,019.00

45.2%

2005

20

$50,997.00

44.4%

Unknown

2006

0

$0.00

0.0%

2005

3

$8,593.00

6.7%

 

FY 2006

Loan Cancellation Rate:

 

16.2%

FY 2005

 

1.8%

 

ADDI LOAN PROGRAM’s Loan Statistics

 

FY

NO. LOANS

DOLLAR AMOUNT

MEAN LOAN AMT.

% OF H2O LOANS

2006

7

$22,053.00

$3,150.43

7.3%

2005

0

$0.00

$0.00

0.0%

 

Loans by Homebuyer Counselor

 

Counselor

FY

No. Loans

Dollar Amount

Dream Makers Housing Counseling Agency, Pine Bluff, AR

2006

6

$17,053.00

2005

0

$0.00

South Arkansas CDC

2006

1

$5,000.00

2005

0

$0.00

 

Loans by New or Existing

 

New or Existing

FY

No. Loans

Dollar Amount

Existing Construction

2006

7

$22,053.00

2005

0

$0.00

New or Proposed Construction

2006

0

$0.00

2005

0

$0.00

 

Demographics

 

Ethnicity

FY

No. Loans

Dollar Amount

Pct

Non-Minorities

2006

2

$6,565.00

28.6%

2005

0

$0.00

0.0%

Minorities

2006

5

$15,488.00

71.4%

2005

0

$0.00

0.0%

 

FY 2006

Loan Cancellation Rate:

 

36.4%

FY 2005

 

100.0%

 

TOTAL HOMEOWNERSHIP FY 2006:

$5,955,165.00

Total Homeownership FY 2005:

$4,472,458.00

Growth 05 to 06:

+24.9%

 


 

 

HOUSING PRODUCTION’s Program Statistics

 

HOME Allocations / Board Approvals

 

 

 

FY

 

No. Units

 

HOME Funds

Rental New Construction

2006

20

$700,000.00

2005

20

$800,000.00

Rental Rehab

2006

0

$0.00

2005

0

$0.00

Homeowner New Construction

2006

0

$0.00

2005

5

$440,000.00

Homeowner Rehab or Mortgage Subsidy

2006

47

$3,045,959.25

2005

67

$2,997,273.00

Tenant Based Rental Assistance

2006

160

$569,879.00

2005

66

$230,384.00

Acq / Rehab

2006

27

$1,015,384.00

2005

24

$800,000.00

TOTAL

2006

254

$5,331,222.25

2005

182

$5,267,657.00

Average Amount per Unit

2006

 

$20,989.06

2005

 

$28,943.17

 

Low-Income Housing Tax Credits / Board Approvals

 

 

 

 

FY

No. Units

 

Federal LIHTC

 

State LIHTC

 

Total Funds

Average

Per Unit

Total

2006

197

$1,660,168.00

$22,187.00

$1,682,355.00

$8,539.87

2005

272

$1,544,399.00

$80,000.00

$1,624,399.00

$5,972.06

 

Multifamily Housing Bonds

 

 

FY

No. Units

Dollar Amount

Average per Unit

Total

2006

0

$0.00

$0.00

2005

0

$0.00

$0.00

 

TOTAL HOUSING PRODUCTION FY 2006:

$6,740,227.25

Total Housing Production FY 2005:

$6,892,056.00

Growth 05 to 06:

-2.2%

 

DEVELOPMENT FINANCE’s Program Statistics

 

 

Program

 

FY

 

No. Projects

 

Project Amount

Average Project Amount

ADFA Bond Guaranty

2006

2

$8,212,500.00

$4,106,250.00

2005

1

$3,470,000.00

$3,470,000.00

ADED/Other Bond Guaranty

2006

2

$8,212,500.00

$4,106,250.00

2005

1

$3,470,000.00

$3,470,000.00

Higher Education Facilities

2006

1

$800,000.00

$800,000.00

2005

1

$445,000.00

$445,000.00

Wastewater Revolving Loan

2006

4

$15,000,000.00

$3,750,000.00

2005

0

$0.00

$0.00

Safe Drinking Water Revolving Loan

2006

0

$0.00

$0.00

2005

2

$12,450,000.00

$6,225,000.00

Bond Guaranty Reserve Fund

2006

0

$0.00

$0.00

2005

1

$140,000.00

$140,000.00

Capital Access Program

2006

0

$0.00

$0.00

2005

5

$537,321.00

$107,464.20

State Facilities Financing

2006

1

$40,110,000.00

$40,110,000.00

2005

2

$82,650,000.00

$41,325,000.00

Interim Loans with other Agencies

2006

0

$0.00

$0.00

2005

1

$6,425,000.00

$6,425,000.00

Special Projects Fund

2006

0

$0.00

$0.00

2005

6

$14,377,500.00

$2,396,250.00

Taxable Industrial Revenue Bonds

2006

0

$0.00

$0.00

2005

0

$0.00

$0.00

 

TOTAL DEV. FINANCE  FY 2006:

$72,335,000.00

Total DEV. FINANCE FY 2005:

$123,964,821.00

Growth 05 to 06:

-41.7%

 

TOTAL FUNDS FOR CONGRESSIONAL DISTRICT 4  FY 2006

$85,030,392.25

 

TOTAL FUNDS FOR CONGRESSIONAL DISTRICT 4  FY 2005

$135,329,335.00

 

GROWTH 05 TO 06

-37.2%