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ANNUAL REPORT OF PROGRAM ACTIVITY

FISCAL YEAR 2005:  July 1, 2004 – June 30, 2005

 

  1. Arkansas
  2. Baxter
  3. Clay
  4. Cleburne
  5. Craighead
  6. Crittenden
  7. Cross
  8. Fulton
  9. Green
  10. Independence
  11. Izard
  12. Jackson
  13. Lawrence
  14. Lee
  15. Lonoke
  16. Mississippi
  17. Monroe
  18. Phillips
  19. Poinsett
  20. Prairie
  21. Randolph
  22. Searcy
  23. Sharp
  24. St. Francis
  25. Stone
  26. Woodruff
 

 

 

See “Statewide” Section for list of FY 2005 Bond Issuances

 

CONGRESSIONAL DISTRICT 1

 

HOMEOWNERSHIP

 

HOME-TO-OWN PROGRAM

Loan Statistics

NO. LOANS

DOLLAR AMOUNT

MEAN LOAN AMT.

MEDIAN LOAN AMT

186

$15,467,802.00

$83,160.23

$79,323.00

Loans by Originator

 

Originator / Branch

 

No. Loans

 

Dollar Amount

 

1st National Bank, Mountain Home, AR

8

$515,280.00

1st National Bank, Wynne, AR

1

$49,608.00

1st Security, Searcy, AR

3

$220,530.00

Arvest Mortgage Company, Lowell, AR

2

$137,500.00

Bank of the Ozarks, Little Rock, AR

4

$375,459.00

Community Home Lenders, Inc., Cabot, AR

1

$82,148.00

Countrywide Home Loans, Inc., Jonesboro, AR

1

$78,764.00

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

3

$207,739.00

First Arkansas Mortgage, Jacksonville, AR

1

$79,900.00

First Financial Bank, Jonesboro, AR

1

$103,900.00

First Home Mortgage, Inc., Jonesboro, AR

7

$397,953.00

First Horizon Home Loan Corporation, West Memphis, AR

17

$1,622,023.00

First Trust Bank for Savings, Jonesboro, AR

1

$81,225.00

First Trust Bank for Savings, West Memphis, AR

3

$191,980.00

Guaranty Loan & Real Estate, West Memphis, AR

2

$214,750.00

Logan Finance Corporation, Blytheville, AR

5

$328,250.00

Pulaski Mortgage Company, Forrest City, AR

116

$10,062,370.00

Pulaski Mortgage Company, Little Rock, AR

3

$196,453.00

Pulaski Mortgage Company, West Memphis, AR

4

$248,110.00

Simmons First Bank, Jonesboro, AR

1

$109,000.00

Simmons First Mortgage, Springdale, AR

1

$81,225.00

The Carroll Mortgage Group, Inc., Springdale, AR

1

$83,636.00

         
Loans by New or Existing
 

New or Existing

No. Loans

Dollar Amount

Existing Construction

165

$12,973,041.00

New or Proposed Construction

21

$2,494,761.00

Loans by Loan Type

Loan Type

No. Loans

Dollar Amount

FHA

109

$8,886,980.00

VA

5

$499,266.00

Conventional

3

$181,000.00

Rural Development

69

$5,900,556.00

Uninsured

0

$0.00

Other

0

$0.00

Demographics

Ethnicity

No. Loans

Dollar Amount

Percent

Non-Minorities

131

$10,982,590.00

70.4%

Minorities

51

$4,172,319.00

27.4%

Unknown

4

$312,893.00

2.2%

 

Ethnicity

Mean Income

Median Income

Non-Minorities

$40,254.99

$39,952.20

Minorities

$38,041.97

$38,844.00

Unknown

$44,265.45

$35,754.90

 

Average Household Size:

2.3

 

 

Loan Cancellation Rate:

21.2%

 

DOWN PAYMENT ASSISTANCE PROGRAM

 Loan Statistics

NO. LOANS

DOLLAR AMOUNT

MEAN LOAN AMT.

% of H2O (1ST) LOANS

87

$217,785.00

$2,503.28

46.8%

 Loans by Homebuyer Counselor

Counselor

No. Loans

Dollar Amount

Community Resource Technicians, Little Rock, AR

1

$3,000.00

Dream Makers, Housing Counseling Agency, Inc., Pine Bluff, AR

2

$5,600.00

Family Service Agency, Little Rock, AR

1

$1,900.00

In Affordable Housing, Inc., Little Rock, AR

7

$18,459.00

Legal Aid of Arkansas, West Memphis, AR

1

$1,424.00

Mississippi County EOC, Blytheville, AR

75

$187,402.00

 

Loans by New or Existing
 

New or Existing

No. Loans

Dollar Amount

Existing Construction

80

$201,017.00

New or Proposed Construction

7

$16,768.00

Demographics

Ethnicity

No. Loans

Dollar Amount

Percent

Non-Minorities

54

$139,403.00

62.1%

Minorities

29

$68,598.00

33.3%

Unknown

4

$9,784.00

4.6%

 

Loan Cancellation Rate:

6.8%

 

ADDI LOAN PROGRAM

 Loan Statistics

 

NO. LOANS

DOLLAR AMOUNT

MEAN LOAN AMT.

% of H2O (1ST) LOANS

12

$46,769.12

$3,897.43

6.5%

Loans by Homebuyer Counselor

Counselor

No. Loans

Dollar Amount

Mississippi County EOC, Blytheville, AR

12

$46,769.12

 

Loans by New or Existing
 

New or Existing

No. Loans

Dollar Amount

Existing Construction

12

$46,769.12

New or Proposed Construction

0

$0.00

Demographics

Ethnicity

No. Loans

Dollar Amount

Percent

Non-Minorities

7

$25,388.51

58.3%

Minorities

5

$21,380.61

41.7%

 

Loan Cancellation Rate:

29.4%

 

TOTAL HOMEOWNERSHIP:

$15,732,356.12

          Total Economic Impact

Local Jobs Supported

66

Local Business Owners’ Income

$549,780.00

Local Wages & Salaries

$2,472,330.00

Local Government Revenue

$389,970.00

 

 

TOTAL MONETARY IMPACT

$3,412,080.00

 

HOUSING PRODUCTION

 HOME Allocations / Board Approvals FY 2005

Program Statistics

 

 

No. Units

 

HOME Funds

Rental New Construction

69

$1,726,570.00

Rental Rehab

10

$400,000.00

Homeowner New Construction

5

$373,750.00

Homeowner Rehab or Mortgage Subsidy

59

$2,350,191.70

Tenant Based Rental Assistance

0

$0.00

Acq / Rehab

20

$800,000.00

TOTAL

163

$5,650,511.70

Average Amount per Unit

 

$34,665.72

Low-Income Housing Tax Credits / Board Approvals FY 2005

 

No. Units

 

Federal LIHTC

 

State LIHTC

 

Total Funds

Average

Per Unit

Acq / Rehab

178

$566,745.00

$0.00

$566,745.00

$3,183.96

New Const.

181

$1,349,167.00

$170,000.00

$1,519,167.00

$8,393,19

 

 

 

 

 

 

Total

359

$1,915,912.00

$170,000.00

$2,085,912.00

$5,810.34

Multifamily Housing Bonds

 

No. Units

Dollar Amount

Average per Unit

Acq / Rehab

0

$0.00

$0.00

New Const.

0

$0.00

$0.00

 

 

 

 

Total

0

$0.00

$0.00

 

TOTAL HOUSING PRODUCTION:

$7,736,423.70

          Total Economic Impact

Local Jobs Supported

405

Local Business Owners’ Income

$3,753,600.00

Local Wages & Salaries

$15,335,700.00

Local Government Revenue

$2,585,700.00

 

 

TOTAL MONETARY IMPACT

$21,675,000.00

 

DEVELOPMENT FINANCE

 Program Statistics

 

Program

 

No. Projects

 

Project Amount

Average Project Amount

ADFA Bond Guaranty

0

$0.00

$0.00

AEDC/Other Bond Guaranty

0

$0.00

$0.00

Higher Education Facilities

0

$0.00

$0.00

Wastewater Revolving Loan

0

$0.00

$0.00

Safe Drinking Water Revolving Loan

2

$10,000,000.00

$5,000,000.00

Bond Guaranty Reserve Fund

1

$280,000.00

$280,000.00

Capital Access Program

0

$0.00

$0.00

State Facilities Finance

0

$0.00

$0.00

Interim Loans with other Agencies

0

$0.00

$0.00

Special Projects Fund

5

$10,490,000.00

$2,098,000.00

Taxable Industrial Revenue Bonds

0

$0.00

$0.00

 

TOTAL DEVELOPMENT FINANCE:

$20,770,000.00

 

 

TOTAL FUNDS FOR CONG. DISTRICT 1 FY 2005

$44,238,779.82

 

Distribution of these total funds

 

 

% Change from Previous Year

Homeownership

$15,732,356.12

-32.5%

Housing Production

$7,736,423.70

+45.5%

Development Finance

$20,770,000.00

+88.9%

Overall

$44,238.779.82

+32.5%