ANNUAL REPORT OF PROGRAM ACTIVITY
FISCAL YEAR 2005: July 1, 2004 – June 30, 2005
CRITTENDEN COUNTYPart of Congressional District 1 |
Loan Statistics
|
NO. LOANS |
DOLLAR AMOUNT |
MEAN LOAN AMT. |
MEDIAN LOAN AMT. |
|
113 |
$10,261,395.00 |
$90,808.81 |
$89,269.00 |
Loans by Originator
|
Originator / Branch |
No. Loans |
Dollar Amount |
|
Countrywide Home Loans, Inc., Jonesboro, AR |
1 |
$78,764.00 |
|
First Home Mortgage, Inc., Jonesboro, AR |
1 |
$57,049.00 |
|
First Horizon Home Loan Corporation, West Memphis, AR |
17 |
$1,622,023.00 |
|
First Trust Bank for Savings, West Memphis, AR |
3 |
$191,980.00 |
|
Guaranty Loan & Real Estate, West Memphis, AR |
2 |
$214,750.00 |
|
Pulaski Mortgage Company, Forrest City, AR |
89 |
$8,096,829.00 |
|
New or Existing |
No. Loans |
Dollar Amount |
|
Existing Construction |
97 |
$8,262,660.00 |
|
New or Proposed Construction |
16 |
$1,998,735.00 |
Loans by Loan Type
|
Loan Type |
No. Loans |
Dollar Amount |
|
FHA |
80 |
$6,852,662.00 |
|
VA |
5 |
$499,266.00 |
|
Conventional |
2 |
$126,400.00 |
|
Rural Development |
26 |
$2,783,067.00 |
|
Uninsured |
0 |
$0.00 |
|
Other |
0 |
$0.00 |
Demographics
|
Ethnicity |
No. Loans |
Dollar Amount |
Percent |
|
Non-Minorities |
74 |
$6,929,103.00 |
65.5% |
|
Minorities |
38 |
$3,227,138.00 |
33.6% |
|
Unknown |
1 |
$105,154.00 |
0.9% |
|
Ethnicity |
Mean Income |
Median Income |
|
Non-Minorities |
$43,636.03 |
$41,915.50 |
|
Minorities |
$38,582.16 |
$36,342.00 |
|
Unknown |
$70,980.00 |
$70,980.00 |
|
Average Household Size: |
2.3 |
|
|
|
|
Loan Cancellation Rate: |
16.9% |
Loan Statistics
|
NO. LOANS |
DOLLAR AMOUNT |
MEAN LOAN AMT. |
% of H2O (1ST) LOANS |
|
58 |
$148,697.00 |
$2,563.74 |
51.3% |
Loans by Homebuyer Counselor
|
Counselor |
No. Loans |
Dollar Amount |
|
Legal Aid of Arkansas, West Memphis, AR |
1 |
$1,424.00 |
|
Mississippi County EOC, Blytheville, AR |
57 |
$147,273.00 |
|
New or Existing |
No. Loans |
Dollar Amount |
|
Existing Construction |
53 |
$137,929.00 |
|
New or Proposed Construction |
5 |
$10,768.00 |
Demographics
|
Ethnicity |
No. Loans |
Dollar Amount |
Percent |
|
Non-Minorities |
36 |
$97,011.00 |
62.1% |
|
Minorities |
21 |
$49,161.00 |
36.2% |
|
Unknown |
1 |
$2,525.00 |
1.7% |
|
Loan Cancellation Rate: |
14.7% |
Loan Statistics
|
NO. LOANS |
DOLLAR AMOUNT |
MEAN LOAN AMT. |
% of H2O (1ST) LOANS |
|
11 |
$45,769.19 |
$4,160.84 |
9.7% |
Loans by Homebuyer Counselor
|
Counselor |
No. Loans |
Dollar Amount |
|
11 |
$45,769.19 |
|
New or Existing |
No. Loans |
Dollar Amount |
|
Existing Construction |
11 |
$45,769.19 |
|
New or Proposed Construction |
0 |
$0.00 |
Demographics
|
Ethnicity |
No. Loans |
Dollar Amount |
Percent |
|
Non-Minorities |
6 |
$24,388.51 |
54.5% |
|
Minorities |
5 |
$21,380.68 |
45.5% |
|
Loan Cancellation Rate: |
31.3% |
|
TOTAL HOMEOWNERSHIP: |
$10,455,861.19 |
Total Economic Impact
|
Local Jobs Supported |
50 |
|
Local Business Owners’ Income |
$418,880.00 |
|
Local Wages & Salaries |
$1,883,680.00 |
|
Local Government Revenue |
$297,120.00 |
|
|
|
|
TOTAL MONETARY IMPACT |
$2,599,680.00 |
Program Statistics
HOME Allocations / Board Approvals FY 2005
|
|
No. Units |
HOME Funds |
|
Rental New Construction |
44 |
$1,084,100.00 |
|
Rental Rehab |
0 |
$0.00 |
|
Homeowner New Construction |
0 |
$0.00 |
|
Homeowner Rehab or Mortgage Subsidy |
5 |
$440,000.00 |
|
Tenant Based Rental Assistance |
0 |
$0.00 |
|
Acq / Rehab |
0 |
$0.00 |
|
TOTAL |
49 |
$1,524,100.00 |
|
Average Amount per Unit |
|
$31,104.08 |
Low-Income Housing Tax Credits / Board Approvals FY 2005
|
|
No. Units |
Federal LIHTC |
State LIHTC |
Total Funds |
Average Per Unit |
|
0 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
|
|
New Const. |
123 |
$907,613.00 |
$170,000.00 |
$1,077,613.00 |
$8,761.08 |
|
|
|
|
|
|
|
|
Total |
123 |
$907,613.00 |
$170,000.00 |
$1,077,613.00 |
$8,761.08 |
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: |
$2,601,713.00 |
Total Economic Impact
|
Local Jobs Supported |
266 |
|
Local Business Owners’ Income |
$2,458,340.00 |
|
Local Wages & Salaries |
$10,043,380.00 |
|
Local Government Revenue |
$1,693,380.00 |
|
|
|
|
TOTAL MONETARY IMPACT |
$14,195,100.00 |
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 |
0 |
$0.00 |
$0.00 |
|
Bond Guaranty Reserve Fund |
0 |
$0.00 |
$0.00 |
|
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 |
0 |
$0.00 |
$0.00 |
|
Taxable Industrial Revenue Bonds |
0 |
$0.00 |
$0.00 |
|
TOTAL DEVELOPMENT FINANCE: |
$0.00 |
TOTAL FUNDS FOR CRITTENDEN CNTY FY 2005
$13,057,574.19
Distribution of these total funds
|
|
|
% Change from Previous Year |
|
Homeownership |
$10,455,861.19 |
-26.3% |
|
Housing Production |
$2,601,713.00 |
+62.0% |
|
Development Finance |
$0.00 |
0.0% |
|
Overall |
$13,057,574.19 |
-14.0% |