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
Washington
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 |
23 |
$2,633,639.00 |
$114,506.04 |
$121,584.00 |
|
01/2008 06/2008 |
17 |
$1,816,212.00 |
$106,836.00 |
$104,100.00 |
|
Total FY2008 |
40 |
$4,449,851.00 |
$111,246.27 |
$112,842.00 |
Loan Cancellation Rate
Total FY2008:|
07/2007 12/2007 |
2 (8.0%) |
|
01/2008 06/2008 |
3 (15.0%) |
|
FY2008 Total |
5 (11.1%) |
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 |
|
ANB Financial, Rogers, AR |
1 |
$104,958.00 |
0 |
$0.00 |
1 |
$104,958.00 |
|
Arvest Mortgage Company, Lowell, AR |
12 |
$1,326,015.00 |
8 |
$824,420.00 |
20 |
$2,150,435.00 |
|
Bank of America, Little Rock, AR |
0 |
$0.00 |
1 |
$57,084.00 |
1 |
$57,084.00 |
|
Bank of Arkansas Mortgage Group, Bentonville, AR |
0 |
$0.00 |
1 |
$80,733.00 |
1 |
$80,733.00 |
|
Bank of the Ozarks, Little Rock, AR |
2 |
$257,156.00 |
0 |
$0.00 |
2 |
$257,156.00 |
|
Community First Bank, Harrison, AR |
1 |
$123,000.00 |
0 |
$0.00 |
1 |
$123,000.00 |
|
Community First Bank, Pea Ridge, AR |
1 |
$146,880.00 |
0 |
$0.00 |
1 |
$146,880.00 |
|
First Western Mortgage, Rogers, AR |
0 |
$0.00 |
1 |
$103,279.00 |
1 |
$103,279.00 |
|
Global Mortgage, Bentonville, AR |
0 |
$0.00 |
1 |
$122,400.00 |
1 |
$122,400.00 |
|
Liberty Bank, Russellville, AR |
0 |
$0.00 |
1 |
$125,860.00 |
1 |
$125,860.00 |
|
Liberty Bank, Springdale, AR |
2 |
$250,905.00 |
2 |
$205,186.00 |
4 |
$456,091.00 |
|
Moore Mortgage, Little Rock, AR |
1 |
$85,655.00 |
0 |
$0.00 |
1 |
$85,655.00 |
|
Priority Bank, Fayetteville, AR |
0 |
$0.00 |
1 |
$131,929.00 |
1 |
$131,929.00 |
|
Regions Mortgage, Little Rock, AR |
1 |
$124,019.00 |
0 |
$0.00 |
1 |
$124,019.00 |
|
Simmons First Mortgage, Little Rock, AR |
1 |
$127,551.00 |
0 |
$0.00 |
1 |
$127,551.00 |
|
Valley Bank, Springdale, AR |
1 |
$87,500.00 |
0 |
$0.00 |
1 |
$87,500.00 |
Loans by New / Existing
|
New / Existing |
Time Period |
No. Loans |
Dollar Amount |
|
Existing Construction |
07/2007 12/2007 |
18 |
$1,972,731.00 |
|
01/2008 06/2008 |
15 |
$1,518,962.00 |
|
|
Total FY2008 |
33 |
$3,491,693.00 |
|
|
New or Proposed Construction |
07/2007 12/2007 |
5 |
$660,908.00 |
|
01/2008 06/2008 |
2 |
$297,250.00 |
|
|
Total FY2008 |
7 |
$958,158.00 |
Loans by Loan Type
|
Loan Type |
Time Period |
No. Loans |
Dollar Amount |
|
FHA |
07/2007 12/2007 |
5 |
$541,611.00 |
|
01/2008 06/2008 |
9 |
$899,695.00 |
|
|
Total FY2008 |
14 |
$1,441,306.00 |
|
|
VA |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 - 06/2008 |
0 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
|
|
Conventional |
07/2007 12/2007 |
13 |
$1,468,055.00 |
|
01/2008 06/2008 |
7 |
$799,681.00 |
|
|
Total FY2008 |
20 |
$2,267,736.00 |
|
|
Rural Development |
07/2007 12/2007 |
5 |
$623,973.00 |
|
01/2008 06/2008 |
1 |
$116,836.00 |
|
|
Total FY2008 |
6 |
$740,809.00 |
Borrowers Profile
|
Ethnicity |
Time Period |
No. Loans |
Dollar Amount |
Percent |
Mean Income |
Median Income |
|
Non-Minority |
07/2007 12/2007 |
22 |
$2,494,889.00 |
95.7% |
$40,359.94 |
$43,434.48 |
|
01/2008 06/2008 |
16 |
$1,650,891.00 |
94.1% |
$34,937.00 |
$34,606.50 |
|
|
Total FY2008 |
38 |
$4,145,780.00 |
95.0% |
$37,648.47 |
$39,020.49 |
|
|
Minority |
07/2007 12/2007 |
1 |
$138,750.00 |
4.3% |
$50,850.72 |
$50,850.72 |
|
01/2008 06/2008 |
1 |
$165,321.00 |
5.9% |
$51,332.52 |
$51,332.52 |
|
|
Total FY2008 |
2 |
$304,071.00 |
5.0% |
$51,591.62 |
$51,592.62 |
|
Gender of Head of Household |
Time Period |
No. Loans |
Percent |
|
Male |
07/2007 12/2007 |
14 |
60.9% |
|
01/2008 06/2008 |
5 |
29.4% |
|
|
Total FY2008 |
19 |
47.5% |
|
|
Female |
07/2007 12/2007 |
9 |
39.1% |
|
01/2008 06/2008 |
12 |
70.6% |
|
|
Total FY2008 |
21 |
52.5% |
|
Age of Head of Household |
Time Period |
No. Loans |
Percent |
|
18 to 22 |
07/2007 12/2007 |
1 |
4.3% |
|
01/2008 06/2008 |
1 |
5.9% |
|
|
Total FY2008 |
2 |
5.0% |
|
|
23 to 30 |
07/2007 - 12/2007 |
14 |
60.9% |
|
01/2008 06/2008 |
7 |
41.2% |
|
|
Total FY2008 |
21 |
52.5% |
|
|
31 to 40 |
07/2007 12/2007 |
5 |
21.7% |
|
01/2008 06/2008 |
3 |
17.6% |
|
|
Total FY2008 |
8 |
20.0% |
|
|
41 to 50 |
07/2007 12/2007 |
2 |
8.7% |
|
01/2008 06/2008 |
5 |
29.4% |
|
|
Total FY2008 |
7 |
17.5% |
|
|
51 to 60 |
07/2007 12/2007 |
1 |
4.3% |
|
01/2008 06/2008 |
1 |
5.9% |
|
|
Total FY2008 |
2 |
5.0% |
|
|
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% |
|
|
Average Age |
07/2007 12/2007 |
30.5 |
|
|
01/2008 06/2008 |
34.8 |
||
|
Total FY2008 |
32.7 |
|
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 |
2 |
$5,789.00 |
$2,894.50 |
8.7% |
|
01/2008 06/2008 |
6 |
$32,996.00 |
$5,499.33 |
35.3% |
|
Total FY2008 |
8 |
$38,785.00 |
$4,848.13 |
20.0% |
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 |
|
Credit Counseling of Arkansas |
0 |
$0.00 |
3 |
$17,196.00 |
3 |
$17,196.00 |
|
EOA of Washington County |
2 |
$5,789.00 |
3 |
$15,800.00 |
5 |
$21,589.00 |
Loans by New / Existing
|
New / Existing |
Time Period |
No. Loans |
Dollar Amount |
|
Existing Construction |
07/2007 12/2007 |
2 |
$5,789.00 |
|
01/2008 06/2008 |
5 |
$27,059.00 |
|
|
Total FY2008 |
7 |
$32,848.00 |
|
|
New or Proposed Construction |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 06/2008 |
1 |
$5,937.00 |
|
|
Total FY2008 |
1 |
$5,937.00 |
Borrowers Profile
|
Ethnicity |
Time Period |
No. Loans |
Dollar Amount |
Percent |
Mean Income |
Median Income |
|
Non-Minority |
07/2007 12/2007 |
2 |
$5,789.00 |
100.0% |
$37,744.32 |
$37,744.32 |
|
01/2008 06/2008 |
6 |
$32,996.00 |
100.0% |
$40,248.94 |
$40,516.50 |
|
|
Total FY2008 |
8 |
$38,785.00 |
100.0% |
$35,496.63 |
$39,130.41 |
|
|
Minority |
07/2007 12/2007 |
0 |
$0.00 |
0.0% |
$0.00 |
$0.00 |
|
01/2008 06/2008 |
0 |
$0.00 |
0.0% |
$0.00 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
0.0% |
$0.00 |
$0.00 |
|
Gender of Head of Household |
Time Period |
No. Loans |
Percent |
|
Male |
07/2007 12/2007 |
2 |
100.0% |
|
01/2008 06/2008 |
3 |
50.0% |
|
|
Total FY2008 |
5 |
62.5% |
|
|
Female |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
3 |
50.0% |
|
|
Total FY2008 |
3 |
37.5% |
|
Age of Head of Household |
Time Period |
No. Loans |
Percent |
|
18 to 22 |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
1 |
16.7% |
|
|
Total FY2008 |
1 |
12.5% |
|
|
23 to 30 |
07/2007 12/2007 |
1 |
50.0% |
|
01/2008 06/2008 |
2 |
33.3% |
|
|
Total FY2008 |
3 |
37.5% |
|
|
31 to 40 |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
2 |
33.3% |
|
|
Total FY2008 |
2 |
25.0% |
|
|
41 to 50 |
07/2007 12/2007 |
1 |
50.0% |
|
01/2008 06/2008 |
1 |
16.7% |
|
|
Total FY2008 |
2 |
25.0% |
|
|
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 |
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% |
|
|
Average Age |
07/2007 12/2007 |
36.5 |
|
|
01/2008 06/2008 |
30.7 |
||
|
Total FY2008 |
33.6 |
|
Average Household Size |
07/2007 12/2007 |
1.5 |
|
01/2008 06/2008 |
2.7 |
|
|
Total FY2008 |
2.1 |
American Dream Downpayment Initiative (ADDI) Program
General Statistics
|
Time Period |
No. Loans |
Dollar Amount |
Mean Loan Amount |
% of H2O Loans |
|
07/2007 12/2007 |
3 |
$21,291.00 |
$7,097.00 |
13.0% |
|
01/2008 06/2008 |
3 |
$16,484.00 |
$5,494.67 |
17.6% |
|
Total FY2008 |
6 |
$37,775.00 |
$6,295.83 |
15.0% |
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 |
|
Credit Counseling of Arkansas |
2 |
$11,691.00 |
1 |
$6,050.00 |
3 |
$17,741.00 |
|
EOA of Washington County |
1 |
$9,600.00 |
2 |
$10,434.00 |
3 |
$20,034.00 |
Loans by New / Existing
|
New / Existing |
Time Period |
No. Loans |
Dollar Amount |
|
Existing Construction |
07/2007 12/2007 |
3 |
$21,291.00 |
|
01/2008 06/2008 |
3 |
$16,484.00 |
|
|
Total FY2008 |
6 |
$37,775.00 |
|
|
New or Proposed Construction |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 06/2008 |
0 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
Borrowers Profile
|
Ethnicity |
Time Period |
No. Loans |
Dollar Amount |
Percent |
Mean Income |
Median Income |
|
Non-Minority |
07/2007 12/2007 |
3 |
$21,29.001 |
100.0% |
$35,319.92 |
$38,146.56 |
|
01/2008 06/2008 |
3 |
$16,484.00 |
100.0% |
$21,660.00 |
$22,308.00 |
|
|
Total FY2008 |
6 |
$37,775.00 |
100.0% |
$28,489.96 |
$30,227.28 |
|
|
Minority |
07/2007 12/2007 |
0 |
$0.00 |
0.0% |
$0.00 |
$0.00 |
|
01/2008 06/2008 |
0 |
$0.00 |
0.0% |
$0.00 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
0.0% |
$0.00 |
$0.00 |
|
Gender of Head of Household |
Time Period |
No. Loans |
Percent |
|
Male |
07/2007 12/2007 |
2 |
66.7% |
|
01/2008 06/2008 |
1 |
33.3% |
|
|
Total FY2008 |
3 |
50.0% |
|
|
Female |
07/2007 12/2007 |
1 |
33.3% |
|
01/2008 06/2008 |
2 |
66.7% |
|
|
Total FY2008 |
3 |
50.0% |
|
Age of Head of Household |
Time Period |
No. Loans |
Percent |
|
18 to 22 |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
1 |
33.3% |
|
|
Total FY2008 |
1 |
16.7% |
|
|
23 to 30 |
07/2007 12/2007 |
1 |
33.3% |
|
01/2008 06/2008 |
1 |
33.3% |
|
|
Total FY2008 |
2 |
33.3% |
|
|
31 to 40 |
07/2007 12/2007 |
2 |
66.7% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
2 |
33.3% |
|
|
41 to 50 |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
1 |
33.3% |
|
|
Total FY2008 |
1 |
16.7% |
|
|
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 |
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% |
|
|
Average Age |
07/2007 12/2007 |
30.7 |
|
|
01/2008 06/2008 |
33.0 |
||
|
Total FY2008 |
31.9 |
|
Average Household Size |
07/2007 12/2007 |
2.7 |
|
01/2008 06/2008 |
2.0 |
|
|
Total FY2008 |
2.4 |
|
TOTAL HOMEOWNERSHIP: |
|||
|
07/2007 12/2007 |
01/2008 06/2008 |
Total FY2008 |
|
|
$2,660,719.00 |
$1,865,692.00 |
$4,526,411.00 |
|
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 |
0 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
|
|
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 |
0 |
$0.00 |
|
01/2008 06/2008 |
40 |
$400,000.00 |
|
|
Total FY2008 |
40 |
$400,000.00 |
|
|
Rental New Construction |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 06/2008 |
0 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
|
|
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 |
60 |
$673,002.00 |
|
|
Total FY2008 |
60 |
$673,002.00 |
|
|
Total |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 06/2008 |
100 |
$1,073,002.00 |
|
|
Total FY2008 |
100 |
$1,073,002.00 |
|
|
Average Amount Per Unit |
07/2007 12/2007 |
$0.00 |
|
|
01/2008 6/2008 |
$10,730.02 |
||
|
Total FY2008 |
$10,730.02 |
Low Income Housing Tax Credits / Board Approvals (only one round per fiscal year)
|
No. Units |
Federal LIHTC |
State LIHTC |
Total LIHTC |
Average Per Unit |
|
0 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Multifamily Housing Bonds
No Multifamily Housing Bond Program Activity FY2008
|
TOTAL HOUSING PRODUCTION: |
|||
|
07/2007 12/2007 |
01/2008 06/2008 |
Total FY2008 |
|
|
$0.00 |
$1,073,002.00 |
$1,073,002.00 |
|
DEVELOPMENT FINANCE
|
Program |
Time Period |
No. Projects |
Project Amount |
Average Project Amount |
|
Bond Guaranty |
07/2007 12/2007 |
0 |
$0.00 |
$0.00 |
|
01/2008 06/2008 |
0 |
$0.00 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
$0.00 |
|
|
Higher Education Facilities |
07/2007 12/2007 |
0 |
$0.00 |
$0.00 |
|
01/2008 06/2008 |
0 |
$0.00 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
$0.00 |
|
|
Wastewater Revolving Loan Fund |
07/2007 12/2007 |
1 |
$4,500,000.00 |
$4,500,000.00 |
|
01/2008 06/2008 |
0 |
$0.00 |
$0.00 |
|
|
Total FY2008 |
1 |
$4,500,000.00 |
$4,500,000.00 |
|
|
Safe Drinking Water Revolving Loan Fund |
07/2007 12/2007 |
0 |
$0.00 |
$0.00 |
|
01/2008 06/2008 |
0 |
$0.00 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
$0.00 |
|
|
State Facilities Financing |
07/2007 12/2007 |
0 |
$0.00 |
$0.00 |
|
01/2008 06/2008 |
0 |
$0.00 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
$0.00 |
|
|
Other (Special Projects, Interim Loans, Conduit Issues, Capital Access) |
07/2007 12/2007 |
0 |
$0.00 |
$0.00 |
|
01/2008 06/2007 |
0 |
$0.00 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
$0.00 |
|
DEVELOPMENT FINANCE: |
|||
|
07/2007 12/2007 |
01/2008 06/2008 |
Total FY2008 |
|
|
$4,500,000.00 |
$0.00 |
$4,500,000.00 |
|
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 |
1 |
$13,241.00 |
1 |
$13,241.00 |
$13,241.00 |
TOTAL FUNDS FOR
Washington
COUNTY|
07/2007 12/2007 |
01/2008 06/2008 |
Total FY2008 |
|
$7,160,719.00 |
$2,951,935.00 |
$10,112,654.00 |
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