REPORT OF PROGRAM ACTIVITY
FISCAL YEAR 2008: July 1, 2007 June 30, 2008
1st Half of FY2008 = July 1, 2007 December 31, 2007
2nd Half of FY2008 = January 1, 2008 June 30, 2008
CRAWFORD
Countyin Congressional District
3HOMEOWNERSHIP
Home-to-Own (H2O)
General Statistics
|
Time Period |
No. Loans |
Dollar Amount |
Mean Loan Amount |
Median Loan Amount |
|
07/2007 12/2007 |
79 |
$7,772,033.00 |
$98,380.16 |
$94,387.00 |
|
01/2008 06/2008 |
65 |
$6,049,207.00 |
$93,064.72 |
$92,245.00 |
|
Total FY2008 |
144 |
$13,821,240.00 |
$95,980.83 |
$93,316.00 |
Loan Cancellation Rate
Total FY2008:|
07/2007 12/2007 |
4 (4.8%) |
|
01/2008 06/2008 |
9 (12.1%) |
|
FY2008 Total |
13 (8.3%) |
Loans by Originator / Branch
|
7/1/07- 12/31/07 |
1/1/08 6/30/08 |
TOTAL FY 2008 |
||||
|
ORIGINATOR / BRANCH |
NO. LOANS |
DOLLAR AMOUNT |
NO. LOANS |
DOLLAR AMOUNT |
NO. LOANS |
DOLLAR AMOUNT |
|
Arvest Mortgage Company, Lowell, AR |
5 |
$356,668.00 |
13 |
$1,271,861.00 |
18 |
$1,628,529.00 |
|
BancorpSouth, Fort Smith, AR |
7 |
$668,468.00 |
7 |
$477,748.00 |
14 |
$1,146,216.00 |
|
BancorpSouth, Van Buren, AR |
0 |
$0.00 |
1 |
$59,033.00 |
1 |
$59,033.00 |
|
Benefit Bank, Fort Smith, AR |
39 |
$4,046,392.00 |
23 |
$2,081,505.00 |
62 |
$6,127,897.00 |
|
Citizens Bank and Trust Company, Van Buren, AR |
3 |
$269,820.00 |
2 |
$192,750.00 |
5 |
$462,570.00 |
|
First Financial Bank, Fort Smith, AR |
9 |
$1,004,500.00 |
14 |
$1,561,597.00 |
23 |
$2,566,097.00 |
|
First Western Mortgage, Fort Smith, AR |
1 |
$77,700.00 |
0 |
$0.00 |
1 |
$77,700.00 |
|
Liberty Bank, Russellville, AR |
5 |
$557,471.00 |
0 |
$0.00 |
5 |
$557,471.00 |
|
Simmons First Mortgage, Fort Smith, AR |
10 |
$791,014.00 |
4 |
$320,149.00 |
14 |
$1,111,163.00 |
|
Wells Fargo Home Mortgage, Inc., Unknown |
0 |
$0.00 |
1 |
$84,564.00 |
1 |
$84,564.00 |
Loans by New / Existing
|
New / Existing |
Time Period |
No. Loans |
Dollar Amount |
|
Existing Construction |
07/2007 12/2007 |
66 |
$6,135,347.00 |
|
01/2008 06/2008 |
59 |
$5,415,016.00 |
|
|
Total FY2008 |
125 |
$11,550,363.00 |
|
|
New or Proposed Construction |
07/2007 12/2007 |
13 |
$1,636,686.00 |
|
01/2008 06/2008 |
6 |
$634,191.00 |
|
|
Total FY2008 |
19 |
$2,270,877.00 |
Loans by Loan Type
|
Loan Type |
Time Period |
No. Loans |
Dollar Amount |
|
FHA |
07/2007 12/2007 |
30 |
$2,780,236.00 |
|
01/2008 06/2008 |
36 |
$3,511,360.00 |
|
|
Total FY2008 |
66 |
$6,291,596.00 |
|
|
VA |
07/2007 12/2007 |
1 |
$84,245.00 |
|
01/2008 - 06/2008 |
2 |
$225,900.00 |
|
|
Total FY2008 |
3 |
$310,145.00 |
|
|
Conventional |
07/2007 12/2007 |
11 |
$999,035.00 |
|
01/2008 06/2008 |
3 |
$195,600.00 |
|
|
Total FY2008 |
14 |
$1,194,635.00 |
|
|
Rural Development |
07/2007 12/2007 |
37 |
$3,908,517.00 |
|
01/2008 06/2008 |
24 |
$2,116,347.00 |
|
|
Total FY2008 |
61 |
$6,024,864.00 |
Borrowers Profile
|
Ethnicity |
Time Period |
No. Loans |
Dollar Amount |
Percent |
Mean Income |
Median Income |
|
Non-Minority |
07/2007 12/2007 |
74 |
$7,323,434.00 |
93.7% |
$41,599.35 |
$31,519.80 |
|
01/2008 06/2008 |
60 |
$5,593,977.00 |
92.3% |
$45,588.32 |
$45,116.52 |
|
|
Total FY2008 |
134 |
$12,917,411.00 |
93.1% |
$43,593.84 |
$38,318.16 |
|
|
Minority |
07/2007 12/2007 |
5 |
$448,599.00 |
6.3% |
$38,113.22 |
$33,716.76 |
|
01/2008 06/2008 |
5 |
$455,230.00 |
7.7% |
$38,982.02 |
$32,543.73 |
|
|
Total FY2008 |
10 |
$903,829.00 |
6.9% |
$38,547.62 |
$33,130.24 |
|
Gender of Head of Household |
Time Period |
No. Loans |
Percent |
|
Male |
07/2007 12/2007 |
59 |
74.7% |
|
01/2008 06/2008 |
38 |
58.5% |
|
|
Total FY2008 |
93 |
64.6% |
|
|
Female |
07/2007 12/2007 |
19 |
24.1% |
|
01/2008 06/2008 |
27 |
41.5% |
|
|
Total FY2008 |
46 |
31.9% |
|
|
Unknown |
07/2007 12/2007 |
1 |
1.3% |
|
01/2008 12/2008 |
0 |
0.0% |
|
|
Total FY2008 |
1 |
0.7% |
|
Age of Head of Household |
Time Period |
No. Loans |
Percent |
|
18 to 22 |
07/2007 12/2007 |
14 |
17.7% |
|
01/2008 06/2008 |
11 |
16.9% |
|
|
Total FY2008 |
25 |
17.4% |
|
|
23 to 30 |
07/2007 - 12/2007 |
37 |
46.8% |
|
01/2008 06/2008 |
28 |
43.1% |
|
|
Total FY2008 |
65 |
45.1% |
|
|
31 to 40 |
07/2007 12/2007 |
13 |
16.5% |
|
01/2008 06/2008 |
11 |
16.9% |
|
|
Total FY2008 |
24 |
16.7% |
|
|
41 to 50 |
07/2007 12/2007 |
7 |
8.9% |
|
01/2008 06/2008 |
9 |
13.8% |
|
|
Total FY2008 |
16 |
1.1% |
|
|
51 to 60 |
07/2007 12/2007 |
4 |
5.1% |
|
01/2008 06/2008 |
1 |
1.5% |
|
|
Total FY2008 |
5 |
3.5% |
|
|
61 to 70 |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
0 |
0.0% |
|
|
71+ |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
2 |
3.1% |
|
|
Total FY2008 |
2 |
1.4% |
|
|
Unknown |
07/2007 12/2007 |
4 |
5.1% |
|
01/2008 06/2008 |
3 |
4.6% |
|
|
Total FY2008 |
7 |
4.9% |
|
|
Average Age |
07/2007 12/2007 |
29.8 |
|
|
01/2008 06/2008 |
31.4 |
||
|
Total FY2008 |
30.6 |
|
Average Household Size |
07/2007 12/2007 |
2.3 |
|
01/2008 06/2008 |
2.6 |
|
|
Total FY2008 |
2.5 |
Down Payment Assistance Program (DPA)
General Statistics
|
Time Period |
No. Loans |
Dollar Amount |
Mean Loan Amount |
% of H2O Loans |
|
07/2007 12/2007 |
26 |
$112,749.00 |
$4,366.50 |
32.9% |
|
01/2008 06/2008 |
23 |
$102,110.00 |
$4,439.57 |
35.4% |
|
Total FY2008 |
49 |
$214,859.00 |
$4,384.88 |
34.0% |
Loans by Homebuyer Counselor
|
7/1/07 - 12/31/07 |
1/1/08 - 6/30/08 |
TOTAL FY 2008 |
||||
|
HOMEBUYER COUNSELOR |
NO. LOANS |
DOLLAR AMOUNT |
NO. LOANS |
DOLLAR AMOUNT |
NO. LOANS |
DOLLAR AMOUNT |
|
Community Resources Technicians |
0 |
$0.00 |
1 |
$5,250.00 |
1 |
$5,250.00 |
|
Crawford Sebastian CDC |
25 |
$106,949.00 |
21 |
$94,560.00 |
46 |
$201,509.00 |
|
Credit Counseling of Arkansas |
0 |
$0.00 |
1 |
$2,300.00 |
1 |
$2,300.00 |
|
EOA of Washington County |
1 |
$5,800.00 |
0 |
$0.00 |
1 |
$5,800.00 |
Loans by New / Existing
|
New / Existing |
Time Period |
No. Loans |
Dollar Amount |
|
Existing Construction |
07/2007 12/2007 |
26 |
$112,749.00 |
|
01/2008 06/2008 |
21 |
$93,098.00 |
|
|
Total FY2008 |
47 |
$205,847.00 |
|
|
New or Proposed Construction |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 06/2008 |
2 |
$9,012.00 |
|
|
Total FY2008 |
2 |
$9,012.00 |
Borrowers Profile
|
Ethnicity |
Time Period |
No. Loans |
Dollar Amount |
Percent |
Mean Income |
Median Income |
|
Non-Minority |
07/2007 12/2007 |
25 |
$109,199.00 |
96.2% |
$49,209.93 |
$48,394.44 |
|
01/2008 06/2008 |
23 |
$102,110.00 |
100.0% |
$50,688.77 |
$52,001.76 |
|
|
Total FY2008 |
48 |
$211,309.00 |
98.0% |
$49,949,35 |
$50,198.10 |
|
|
Minority |
07/2007 12/2007 |
1 |
$3,550.00 |
3.8% |
$42,474.72 |
$42,474.72 |
|
01/2008 06/2008 |
0 |
$0.00 |
0.0% |
$0.00 |
$0.00 |
|
|
Total FY2008 |
1 |
$3,550.00 |
2.0% |
$42,474.72 |
$42,474.72 |
|
Gender of Head of Household |
Time Period |
No. Loans |
Percent |
|
Male |
07/2007 12/2007 |
20 |
76.9% |
|
01/2008 06/2008 |
15 |
65.2% |
|
|
Total FY2008 |
35 |
71.4% |
|
|
Female |
07/2007 12/2007 |
5 |
19.2% |
|
01/2008 06/2008 |
8 |
34.8% |
|
|
Total FY2008 |
13 |
26.5% |
|
|
Unknown |
07/2007 12/2007 |
1 |
3.8% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
1 |
2.0% |
|
Age of Head of Household |
Time Period |
No. Loans |
Percent |
|
18 to 22 |
07/2007 12/2007 |
5 |
19.2% |
|
01/2008 06/2008 |
5 |
21.7% |
|
|
Total FY2008 |
10 |
20.4% |
|
|
23 to 30 |
07/2007 12/2007 |
13 |
50.0% |
|
01/2008 06/2008 |
11 |
47.8% |
|
|
Total FY2008 |
24 |
49.0% |
|
|
31 to 40 |
07/2007 12/2007 |
3 |
11.5% |
|
01/2008 06/2008 |
2 |
8.7% |
|
|
Total FY2008 |
5 |
10.2% |
|
|
41 to 50 |
07/2007 12/2007 |
3 |
11.5% |
|
01/2008 06/2008 |
5 |
21.7% |
|
|
Total FY2008 |
8 |
16.3% |
|
|
51 to 60 |
07/2007 12/2007 |
1 |
3.8% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
1 |
2.0% |
|
|
61 to 70 |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
0 |
0.0% |
|
|
71+ |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
0 |
0.0% |
|
|
Unknown |
07/2007 12/2007 |
1 |
3.8% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
1 |
2.0% |
|
|
Average Age |
07/2007 12/2007 |
27.8 |
|
|
01/2008 06/2008 |
30.3 |
||
|
Total FY2008 |
29.1 |
|
Average Household Size |
07/2007 12/2007 |
2.5 |
|
01/2008 06/2008 |
2.8 |
|
|
Total FY2008 |
2.7 |
American Dream Downpayment Initiative (ADDI) Program
General Statistics
|
Time Period |
No. Loans |
Dollar Amount |
Mean Loan Amount |
% of H2O Loans |
|
07/2007 12/2007 |
4 |
$28,513.00 |
$7,128.25 |
5.1% |
|
01/2008 06/2008 |
5 |
$25,854.00 |
$5,170.80 |
7.7% |
|
Total FY2008 |
9 |
$54,367.00 |
$6,040.78 |
6.3% |
Loans by Homebuyer Counselor
|
7/1/07 - 12/31/07 |
1/1/08 - 6/30/08 |
TOTAL FY 2008 |
||||
|
HOMEBUYER COUNSELOR |
NO. LOANS |
DOLLAR AMOUNT |
NO. LOANS |
DOLLAR AMOUNT |
NO. LOANS |
DOLLAR AMOUNT |
|
Crawford Sebastian CDC |
3 |
$22,724.00 |
4 |
$20,861.00 |
7 |
$43,585.00 |
|
One Stop Homeowners Center |
1 |
$5,789.00 |
0 |
$0.00 |
1 |
$5,789.00 |
|
Unknown |
0 |
$0.00 |
1 |
$4,993.00 |
1 |
$4,993.00 |
Loans by New / Existing
|
New / Existing |
Time Period |
No. Loans |
Dollar Amount |
|
Existing Construction |
07/2007 12/2007 |
2 |
$14,985.00 |
|
01/2008 06/2008 |
4 |
$20,861.00 |
|
|
Total FY2008 |
6 |
$35,846.00 |
|
|
New or Proposed Construction |
07/2007 12/2007 |
2 |
$13,528.00 |
|
01/2008 06/2008 |
1 |
$4,993.00 |
|
|
Total FY2008 |
3 |
$18,521.00 |
Borrowers Profile
|
Ethnicity |
Time Period |
No. Loans |
Dollar Amount |
Percent |
Mean Income |
Median Income |
|
Non-Minority |
07/2007 12/2007 |
2 |
$17,796.00 |
50.0% |
$25,876.56 |
$25,876.56 |
|
01/2008 06/2008 |
5 |
$25,854.00 |
100.0% |
$23,888.40 |
$20,280.00 |
|
|
Total FY2008 |
7 |
$43,650.00 |
77.8% |
$24,882.48 |
$23,078.28 |
|
|
Minority |
07/2007 12/2007 |
2 |
$10,717.00 |
50.0% |
$27,904.38 |
$27,904.38 |
|
01/2008 06/2008 |
0 |
$0.00 |
0.0% |
$0.00 |
$0.00 |
|
|
Total FY2008 |
2 |
$10,717.00 |
22.2% |
$27,904.38 |
$27,904.38 |
|
Gender of Head of Household |
Time Period |
No. Loans |
Percent |
|
Male |
07/2007 12/2007 |
4 |
100.0% |
|
01/2008 06/2008 |
2 |
40.0% |
|
|
Total FY2008 |
6 |
66.7% |
|
|
Female |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
3 |
60.0% |
|
|
Total FY2008 |
3 |
33.3% |
|
Age of Head of Household |
Time Period |
No. Loans |
Percent |
|
18 to 22 |
07/2007 12/2007 |
1 |
25.0% |
|
01/2008 06/2008 |
2 |
40.0% |
|
|
Total FY2008 |
3 |
33.3% |
|
|
23 to 30 |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
2 |
40.0% |
|
|
Total FY2008 |
2 |
22.2% |
|
|
31 to 40 |
07/2007 12/2007 |
2 |
50.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
2 |
22.2% |
|
|
41 to 50 |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
0 |
0.0% |
|
|
51 to 60 |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
0 |
0.0% |
|
|
61 to 70 |
07/2007 12/2007 |
1 |
25.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
1 |
11.1% |
|
|
71+ |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
0 |
0.0% |
|
|
Unknown |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
1 |
20.0% |
|
|
Total FY2008 |
1 |
14.3% |
|
|
Average Age |
07/2007 12/2007 |
39.0 |
|
|
01/2008 06/2008 |
23.8 |
||
|
Total FY2008 |
31.4 |
|
Average Household Size |
07/2007 12/2007 |
2.8 |
|
01/2008 06/2008 |
2.2 |
|
|
Total FY2008 |
2.5 |
|
TOTAL HOMEOWNERSHIP: |
|||
|
07/2007 12/2007 |
01/2008 06/2008 |
Total FY2008 |
|
|
$7,913,295.00 |
$6,177,171.00 |
$14,090,466.00 |
|
HOUSING PRODUCTION (HP)
Program Partners:
HOME Allocations / Board Approvals by Type
|
Type |
Time Period |
No. Units |
HOME Funds |
|
Acquisition Rehab |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 06/2007 |
10 |
$400,000.00 |
|
|
Total FY2008 |
10 |
$400,000.00 |
|
|
Homeowner Acquisition |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 06/2008 |
0 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
|
|
Homeowner New Construction |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 06/2008 |
0 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
|
|
Homeowner Rehab or Mortgage Subsidy |
07/2007 12/2007 |
7 |
$320,119.00 |
|
01/2008 06/2008 |
0 |
$0.00 |
|
|
Total FY2008 |
7 |
$320,119.00 |
|
|
Rental New Construction |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 06/2008 |
10 |
$400,000.00 |
|
|
Total FY2008 |
10 |
$400,000.00 |
|
|
Rental Rehab |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 06/2008 |
0 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
|
|
Tenant Based Rental Assistance |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 06/2008 |
0 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
|
|
Total |
07/2007 12/2007 |
7 |
$320,119.00 |
|
01/2008 06/2008 |
20 |
$800,000.00 |
|
|
Total FY2008 |
27 |
$1,120,119.00 |
|
|
Average Amount Per Unit |
07/2007 12/2007 |
$45,731.29 |
|
|
01/2008 6/2008 |
$40,000.00 |
||
|
Total FY2008 |
$41,485.89 |
Low Income Housing Tax Credits / Board Approvals (only one round per fiscal year)
|
No. Units |
Federal LIHTC |
State LIHTC |
Total LIHTC |
Average Per Unit |
|
66 |
$285,229.00 |
$0.00 |
$285,229.00 |
$4,321.65 |
Multifamily Housing Bonds
No Multifamily Housing Bond Activity FY2008
|
TOTAL HOUSING PRODUCTION: |
|||
|
07/2007 12/2007 |
01/2008 06/2008 |
Total FY2008 |
|
|
$320,119.00 |
$1,085,229.00 |
$1,405,348.00 |
|
DEVELOPMENT FINANCE
|
DEVELOPMENT FINANCE: |
|||
|
07/2007 12/2007 |
01/2008 06/2008 |
Total FY2008 |
|
|
$0.00 |
$0.00 |
$0.00 |
|
OTHER PROGRAM(S)
Rehab / Disability Loan Program
|
7/2007 - 12/2007 |
1/2008 - 6/2008 |
FY2008 TOTAL |
||||
|
No. Loans |
Dollar Amount |
No. Loans |
Dollar Amount |
No. Loans |
Dollar Amount |
Average Per Unit |
|
0 |
$0.00 |
0 |
$0.00 |
0 |
$0.00 |
$0.00 |
TOTAL FUNDS FOR
CRAWFORD
COUNTY|
07/2007 12/2007 |
01/2008 06/2008 |
Total FY2008 |
|
$8,233,414.00 |
$7,262,400.00 |
$15,495,814.00 |
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