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
Saline
Countyin Congressional District
2HOMEOWNERSHIP
Home-to-Own (H2O)
General Statistics
|
Time Period |
No. Loans |
Dollar Amount |
Mean Loan Amount |
Median Loan Amount |
|
07/2007 12/2007 |
36 |
$3,355,433.00 |
$93,206.47 |
$97,643.50 |
|
01/2008 06/2008 |
40 |
$4,034,768.00 |
$100,869.20 |
$105,911.00 |
|
Total FY2008 |
76 |
$7,390,201.00 |
$97,239.48 |
$101,777.25 |
Loan Cancellation Rate
Total FY2008:|
07/2007 12/2007 |
7 (16.3%) |
|
01/2008 06/2008 |
6 (13.0%) |
|
FY2008 Total |
13 (14.6%) |
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 |
0 |
$0.00 |
1 |
$147,784.00 |
1 |
$147,784.00 |
|
Bank of Little Rock Mortgage, Benton, AR |
1 |
$122,576.00 |
8 |
$934,192.00 |
9 |
$1,056,768.00 |
|
Bank of Little Rock Mortgage, North Little Rock, AR |
0 |
$0.00 |
2 |
$197,894.00 |
2 |
$197,894.00 |
|
Bank of the Ozarks, Little Rock, AR |
1 |
$42,335.00 |
0 |
$0.00 |
1 |
$42,335.00 |
|
Elk Horn Bank, Arkadelphia, AR |
1 |
$98,900.00 |
1 |
$110,999.00 |
2 |
$209,899.00 |
|
Magna Bank, Little Rock, AR |
3 |
$336,518.00 |
0 |
$0.00 |
3 |
$36,518.00 |
|
Metropolitan National Bank, Little Rock, AR |
2 |
$142,382.00 |
1 |
$109,038.00 |
3 |
$251,420.00 |
|
Moore Mortgage, Little Rock, AR |
2 |
$175,513.00 |
2 |
$169,932.00 |
4 |
$345,445.00 |
|
Pulaski Mortgage Company, Little Rock, AR |
11 |
$1,050,704.00 |
7 |
$746,414.00 |
18 |
$1,797,118.00 |
|
Regions Mortgage, Benton, AR |
5 |
$463,819.00 |
8 |
$666,801.00 |
13 |
$1,130,620.00 |
|
Regions Mortgage, Little Rock, AR |
2 |
$215,100.00 |
3 |
$324,500.00 |
5 |
$539,600.00 |
|
Regions Mortgage, Searcy, AR |
0 |
$0.00 |
1 |
$143,876.00 |
1 |
$143,876.00 |
|
Summit Bank, Benton, AR |
2 |
$149,640.00 |
0 |
$0.00 |
2 |
$149,640.00 |
|
Telcoe Federal Credit Union, Little Rock, AR |
1 |
$112,113.00 |
1 |
$113,998.00 |
2 |
$226,111.00 |
|
The Carroll Mortgage Group, Little Rock, AR |
1 |
$79,373.00 |
1 |
$119,853.00 |
2 |
$199,226.00 |
|
US Bank Home Mortgage, Bryant, AR |
1 |
$113,223.00 |
3 |
$182,041.00 |
4 |
$295,264.00 |
|
US Bank Home Mortgage, North Little Rock, AR |
3 |
$253,237.00 |
0 |
$0.00 |
3 |
$253,237.00 |
|
Wells Fargo Home Mortgage, Inc., ? |
0 |
$0.00 |
1 |
$67,446.00 |
1 |
$67,446.00 |
Loans by New / Existing
|
New / Existing |
Time Period |
No. Loans |
Dollar Amount |
|
Existing Construction |
07/2007 12/2007 |
28 |
$2,438,229.00 |
|
01/2008 06/2008 |
27 |
$2,460,323.00 |
|
|
Total FY2008 |
55 |
$4,898,552.00 |
|
|
New or Proposed Construction |
07/2007 12/2007 |
8 |
$917,204.00 |
|
01/2008 06/2008 |
13 |
$1,574,445.00 |
|
|
Total FY2008 |
21 |
$2,491,649.00 |
Loans by Loan Type
|
Loan Type |
Time Period |
No. Loans |
Dollar Amount |
|
FHA |
07/2007 12/2007 |
29 |
$2,730,333.00 |
|
01/2008 06/2008 |
35 |
$3,445,240.00 |
|
|
Total FY2008 |
64 |
$6,175,573.00 |
|
|
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 |
7 |
$625,100.00 |
|
01/2008 06/2008 |
4 |
$445,652.00 |
|
|
Total FY2008 |
11 |
$1,070,752.00 |
|
|
Rural Development |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 06/2008 |
1 |
$143,876.00 |
|
|
Total FY2008 |
1 |
$143,876.00 |
Borrowers Profile
|
Ethnicity |
Time Period |
No. Loans |
Dollar Amount |
Percent |
Mean Income |
Median Income |
|
Non-Minority |
07/2007 12/2007 |
30 |
$2,706,901.00 |
83.3% |
$33,734.69 |
$34,497.84 |
|
01/2008 06/2008 |
35 |
$3,472,012.00 |
87.5% |
$36,601.22 |
$40,764.00 |
|
|
Total FY2008 |
65 |
$6,178,913.00 |
85.5% |
$35,167.95 |
$37,630.92 |
|
|
Minority |
07/2007 12/2007 |
6 |
$648,532.00 |
16.7% |
$41,341.76 |
$38,0481.20 |
|
01/2008 06/2008 |
5 |
$562,756.00 |
12.5% |
$44,618.92 |
$52,680.00 |
|
|
Total FY2008 |
11 |
$1,211,288.00 |
14.5% |
$42,980.34 |
$45,364.00 |
|
Gender of Head of Household |
Time Period |
No. Loans |
Percent |
|
Male |
07/2007 12/2007 |
18 |
50.0% |
|
01/2008 06/2008 |
23 |
57.5% |
|
|
Total FY2008 |
41 |
53.9% |
|
|
Female |
07/2007 12/2007 |
18 |
50.0% |
|
01/2008 06/2008 |
17 |
42.5% |
|
|
Total FY2008 |
35 |
46.1% |
|
Age of Head of Household |
Time Period |
No. Loans |
Percent |
|
18 to 22 |
07/2007 12/2007 |
6 |
16.7% |
|
01/2008 06/2008 |
8 |
20.0% |
|
|
Total FY2008 |
14 |
18.4% |
|
|
23 to 30 |
07/2007 - 12/2007 |
17 |
47.2% |
|
01/2008 06/2008 |
14 |
35.0% |
|
|
Total FY2008 |
31 |
40.8% |
|
|
31 to 40 |
07/2007 12/2007 |
8 |
22.2% |
|
01/2008 06/2008 |
9 |
22.5% |
|
|
Total FY2008 |
17 |
22.3% |
|
|
41 to 50 |
07/2007 12/2007 |
3 |
8.3% |
|
01/2008 06/2008 |
4 |
10.0% |
|
|
Total FY2008 |
7 |
9.2% |
|
|
51 to 60 |
07/2007 12/2007 |
1 |
2.8% |
|
01/2008 06/2008 |
4 |
10.0% |
|
|
Total FY2008 |
5 |
6.6% |
|
|
61 to 70 |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
1 |
2.5% |
|
|
Total FY2008 |
1 |
1.3% |
|
|
71+ |
07/2007 12/2007 |
1 |
2.8% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
1 |
1.3% |
|
|
Average Age |
07/2007 12/2007 |
30.8 |
|
|
01/2008 06/2008 |
33.2 |
||
|
Total FY2008 |
32.0 |
|
Average Household Size |
07/2007 12/2007 |
2.1 |
|
01/2008 06/2008 |
2.2 |
|
|
Total FY2008 |
2.2 |
Down Payment Assistance Program (DPA)
General Statistics
|
Time Period |
No. Loans |
Dollar Amount |
Mean Loan Amount |
% of H2O Loans |
|
07/2007 12/2007 |
18 |
$79,255.00 |
$4,403.06 |
50.0% |
|
01/2008 06/2008 |
25 |
$112,019.00 |
$4,480.76 |
62.5% |
|
Total FY2008 |
43 |
$191,274.00 |
$4,448.23 |
56.6% |
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 |
|
Argenta |
4 |
$18,360.00 |
0 |
$0.00 |
4 |
$18,360.00 |
|
Benton Public Housing Authority |
0 |
$0.00 |
1 |
$3,258.00 |
1 |
$3,258.00 |
|
Black Community Development Program |
1 |
$1,200.00 |
3 |
$13,900.00 |
4 |
$15,100.00 |
|
Community Resources Technicians |
2 |
$9,180.00 |
12 |
$50,761.00 |
14 |
$59,941.00 |
|
Dream Makers |
1 |
$6,000.00 |
2 |
$10,700.00 |
3 |
$16,700.00 |
|
Family Service Agency |
3 |
$14,150.00 |
1 |
$6,000.00 |
4 |
$20,150.00 |
|
In Affordable Housing |
7 |
$30,365.00 |
6 |
$27,400.00 |
13 |
$57,765.00 |
Loans by New / Existing
|
New / Existing |
Time Period |
No. Loans |
Dollar Amount |
|
Existing Construction |
07/2007 12/2007 |
13 |
$53,895.00 |
|
01/2008 06/2008 |
18 |
$81,361.00 |
|
|
Total FY2008 |
31 |
$135,256.00 |
|
|
New or Proposed Construction |
07/2007 12/2007 |
5 |
$25,360.00 |
|
01/2008 06/2008 |
7 |
$30,658.00 |
|
|
Total FY2008 |
12 |
$56,018.00 |
Borrowers Profile
|
Ethnicity |
Time Period |
No. Loans |
Dollar Amount |
Percent |
Mean Income |
Median Income |
|
Non-Minority |
07/2007 12/2007 |
16 |
$67,255.00 |
88.9% |
$37,695.83 |
$35,207.16 |
|
01/2008 06/2008 |
22 |
$95,229.00 |
88.0% |
$46,454.14 |
$46,990.08 |
|
|
Total FY2008 |
38 |
$162,484.00 |
88.4% |
$42,074.99 |
$41,098.62 |
|
|
Minority |
07/2007 12/2007 |
2 |
$12,000.00 |
11.1% |
$54,947.40 |
$54,974.40 |
|
01/2008 06/2008 |
3 |
$16,790.00 |
12.0% |
$60,635.28 |
$63,600.00 |
|
|
Total FY2008 |
5 |
$28,790.00 |
11.6% |
$57,791.34 |
$59,287.20 |
|
Gender of Head of Household |
Time Period |
No. Loans |
Percent |
|
Male |
07/2007 12/2007 |
12 |
66.7% |
|
01/2008 06/2008 |
15 |
60.0% |
|
|
Total FY2008 |
27 |
62.8% |
|
|
Female |
07/2007 12/2007 |
6 |
33.3% |
|
01/2008 06/2008 |
10 |
40.0% |
|
|
Total FY2008 |
16 |
37.2% |
|
Age of Head of Household |
Time Period |
No. Loans |
Percent |
|
18 to 22 |
07/2007 12/2007 |
5 |
27.8% |
|
01/2008 06/2008 |
5 |
20.0% |
|
|
Total FY2008 |
10 |
23.3% |
|
|
23 to 30 |
07/2007 12/2007 |
7 |
38.9% |
|
01/2008 06/2008 |
8 |
32.0% |
|
|
Total FY2008 |
15 |
34.9% |
|
|
31 to 40 |
07/2007 12/2007 |
4 |
22.2% |
|
01/2008 06/2008 |
8 |
32.0% |
|
|
Total FY2008 |
12 |
27.9% |
|
|
41 to 50 |
07/2007 12/2007 |
2 |
11.1% |
|
01/2008 06/2008 |
2 |
8.0% |
|
|
Total FY2008 |
4 |
9.3% |
|
|
51 to 60 |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
1 |
4.0% |
|
|
Total FY2008 |
1 |
2.3% |
|
|
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 |
0 |
0.0% |
|
01/2008 06/2008 |
1 |
4.0% |
|
|
Total FY2008 |
1 |
2.3% |
|
|
Average Age |
07/2007 12/2007 |
28.7 |
|
|
01/2008 06/2008 |
30.3 |
||
|
Total FY2008 |
29.5 |
|
Average Household Size |
07/2007 12/2007 |
2.2 |
|
01/2008 06/2008 |
2.3 |
|
|
Total FY2008 |
2.3 |
American Dream Downpayment Initiative (ADDI) Program
General Statistics
|
Time Period |
No. Loans |
Dollar Amount |
Mean Loan Amount |
% of H2O Loans |
|
07/2007 12/2007 |
12 |
$80,487.32 |
$6,707.28 |
33.3% |
|
01/2008 06/2008 |
12 |
$62,437.00 |
$5,203.08 |
30.0% |
|
Total FY2008 |
24 |
$142,924.32 |
$5,955.18 |
31.6% |
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 |
|
Argenta |
2 |
$15,690.00 |
0 |
$0.00 |
2 |
$15,690.00 |
|
Benton Public Housing Authority |
0 |
$0.00 |
2 |
$11,545.00 |
2 |
$11,545.00 |
|
Black Community Development Program, Inc. |
1 |
$7,588.00 |
0 |
$0.00 |
1 |
$7,588.00 |
|
Community Resources Technicians |
4 |
$24,922.32 |
4 |
$15,932.00 |
8 |
$40,854.32 |
|
Credit Counseling of Arkansas |
0 |
$0.00 |
1 |
$8,200.00 |
1 |
$8,200.00 |
|
Family Service Agency |
2 |
$11,070.00 |
0 |
$0.00 |
2 |
$11,070.00 |
|
In Affordable Housing, Inc. |
3 |
$21,217.00 |
4 |
$22,460.00 |
7 |
$43,677.00 |
Loans by New / Existing
|
New / Existing |
Time Period |
No. Loans |
Dollar Amount |
|
Existing Construction |
07/2007 12/2007 |
11 |
$70,487.32 |
|
01/2008 06/2008 |
10 |
$46,057.00 |
|
|
Total FY2008 |
21 |
$116,544.32 |
|
|
New or Proposed Construction |
07/2007 12/2007 |
1 |
$10,000.00 |
|
01/2008 06/2008 |
2 |
$16,380.00 |
|
|
Total FY2008 |
3 |
$26,380.00 |
Borrowers Profile
|
Ethnicity |
Time Period |
No. Loans |
Dollar Amount |
Percent |
Mean Income |
Median Income |
|
Non-Minority |
07/2007 12/2007 |
7 |
$45,260.00 |
58.3% |
$29,419.18 |
$25,128.00 |
|
01/2008 06/2008 |
8 |
$41,669.00 |
66.7% |
$23,364.98 |
$25,770.42 |
|
|
Total FY2008 |
15 |
$86,929.00 |
62.5% |
$26,392.08 |
$25,449.21 |
|
|
Minority |
07/2007 12/2007 |
5 |
$35,227.73 |
41.7% |
$28,664.04 |
$30,258.72 |
|
01/2008 06/2008 |
4 |
$20,768.00 |
33.3% |
$25,029.78 |
$29,465.16 |
|
|
Total FY2008 |
9 |
$55,995.73 |
37.5% |
$26,846.91 |
$29,861.94 |
|
Gender of Head of Household |
Time Period |
No. Loans |
Percent |
|
Male |
07/2007 12/2007 |
8 |
66.7% |
|
01/2008 06/2008 |
5 |
41.7% |
|
|
Total FY2008 |
13 |
54.2% |
|
|
Female |
07/2007 12/2007 |
4 |
33.3% |
|
01/2008 06/2008 |
7 |
58.3% |
|
|
Total FY2008 |
11 |
45.8% |
|
Age of Head of Household |
Time Period |
No. Loans |
Percent |
|
18 to 22 |
07/2007 12/2007 |
3 |
25.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
3 |
12.5% |
|
|
23 to 30 |
07/2007 12/2007 |
4 |
33.3% |
|
01/2008 06/2008 |
4 |
33.3% |
|
|
Total FY2008 |
8 |
33.3% |
|
|
31 to 40 |
07/2007 12/2007 |
2 |
16.7% |
|
01/2008 06/2008 |
4 |
33.3% |
|
|
Total FY2008 |
6 |
25.0% |
|
|
41 to 50 |
07/2007 12/2007 |
2 |
16.7% |
|
01/2008 06/2008 |
1 |
8.3% |
|
|
Total FY2008 |
3 |
12.5% |
|
|
51 to 60 |
07/2007 12/2007 |
1 |
8.3% |
|
01/2008 06/2008 |
2 |
16.7% |
|
|
Total FY2008 |
3 |
12.5% |
|
|
61 to 70 |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
1 |
8.3% |
|
|
Total FY2008 |
1 |
4.1% |
|
|
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 |
34.0 |
|
|
01/2008 06/2008 |
38.5 |
||
|
Total FY2008 |
36.3 |
|
Average Household Size |
07/2007 12/2007 |
2.1 |
|
01/2008 06/2008 |
2.4 |
|
|
Total FY2008 |
2.3 |
|
TOTAL HOMEOWNERSHIP: |
|||
|
07/2007 12/2007 |
01/2008 06/2008 |
Total FY2008 |
|
|
$3,515,175.32 |
$4,209,224.00 |
$7,724,399.32 |
|
HOUSING PRODUCTION (HP)
Program Partners:
N/A
HOME Allocations / Board Approvals by Type
|
Type |
Time Period |
No. Units |
HOME Funds |
|
Total |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 06/2008 |
0 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
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 |
$0.00 |
$0.00 |
|
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 |
0 |
$0 |
$0 |
|
01/2008 06/2008 |
1 |
$800,000.00 |
$800,000.00 |
|
|
Total FY2008 |
1 |
$800,000.00 |
$800,000.00 |
|
|
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 06/2008 |
0 |
$0.00 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
$0.00 |
|
DEVELOPMENT FINANCE: |
|||
|
07/2007 12/2007 |
01/2008 06/2008 |
Total FY2008 |
|
|
$0.00 |
$800,000.00 |
$800,000.00 |
|
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 |
0 |
$0.00 |
0 |
$0.00 |
$0.00 |
TOTAL FUNDS FOR
SALINE
COUNTY|
07/2007 12/2007 |
01/2008 06/2008 |
Total FY2008 |
|
$3,515,175.32 |
$5,009,224.00 |
$8,524,399.32 |
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