ANNUAL REPORT OF PROGRAM ACTIVITY
FISCAL YEAR 2005: July 1, 2004 – June 30, 2005
 |
CONGRESSIONAL DISTRICT 1 |
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 |
||
|
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% |
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 |
|
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 |
|
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% |
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 |
|
12 |
$46,769.12 |
|
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 |
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 |
|
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 |
|
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 |
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% |