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
FAULKNER
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 |
32 |
$3,292,112.00 |
$102,878.50 |
$104,265.50 |
|
01/2008 06/2008 |
24 |
$2,581,286.00 |
$107,553.58 |
$103,426.00 |
|
Total FY2008 |
56 |
$5,873,398.00 |
$104,882.10 |
$103,845.75 |
Loan Cancellation Rate
Total FY2008:|
07/2007 12/2007 |
2 (5.9%) |
|
01/2008 06/2008 |
12 (33.3%) |
|
FY2008 Total |
14 (20.0%) |
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 |
3 |
$345,338.00 |
1 |
$109,137.00 |
4 |
$454,475.00 |
|
Bank of Little Rock Mortgage, Benton, AR |
0 |
$0.00 |
4 |
$451,323.00 |
4 |
$451,323.00 |
|
Bank of Little Rock Mortgage, Conway, AR |
0 |
$0.00 |
1 |
$123,523.00 |
1 |
$123,523.00 |
|
Bank of Little Rock Mortgage, North Little Rock, AR |
3 |
$237,000.00 |
0 |
$0.00 |
3 |
$237,000.00 |
|
Bank of the Ozarks, Little Rock, AR |
3 |
$336,778.00 |
0 |
$0.00 |
3 |
$336,788.00 |
|
Benefit Bank, Fort Smith, AR |
0 |
$0.00 |
1 |
$105,052.00 |
1 |
$105,052.00 |
|
Elk Horn Bank, Arkadelphia, AR |
1 |
$94,000.00 |
0 |
$0.00 |
1 |
$94,000.00 |
|
First Arkansas Valley Bank, Russellville, AR |
1 |
$144,850.00 |
0 |
$0.00 |
1 |
$144,850.00 |
|
First Financial Bank, North Little Rock, AR |
2 |
$218,260.00 |
0 |
$0.00 |
2 |
$218,260.00 |
|
First Security Bank, Conway, AR |
7 |
$755,080.00 |
6 |
$579,932.00 |
13 |
$1,335,012.00 |
|
First State Bank, Conway, AR |
4 |
$452,330.00 |
1 |
$96,000.00 |
5 |
$548,330.00 |
|
Liberty Bank, Russellville, AR |
0 |
$0.00 |
1 |
$90,782.00 |
1 |
$90,782.00 |
|
Metropolitan National Bank, Little Rock, AR |
1 |
$158,746.00 |
1 |
$79,373.00 |
2 |
$238,119.00 |
|
Pulaski Mortgage Company, Conway, AR |
7 |
$549,730.00 |
4 |
$483,730.00 |
11 |
$1,033,460.00 |
|
Pulaski Mortgage Company, Little Rock, AR |
0 |
$0.00 |
1 |
$79,373.00 |
1 |
$79,373.00 |
|
Simmons First National Bank, Pine Bluff, AR |
0 |
$0.00 |
1 |
$94,242.00 |
1 |
$94,242.00 |
|
The Carroll Mortgage Group, Little Rock, AR |
0 |
$0.00 |
1 |
$139,900.00 |
1 |
$139,900.00 |
Loans by New / Existing
|
New / Existing |
Time Period |
No. Loans |
Dollar Amount |
|
Existing Construction |
07/2007 12/2007 |
24 |
$2,242,428.00 |
|
01/2008 06/2008 |
18 |
$1,913,072.00 |
|
|
Total FY2008 |
42 |
$4,155,500.00 |
|
|
New or Proposed Construction |
07/2007 12/2007 |
8 |
$1,049,684.00 |
|
01/2008 06/2008 |
6 |
$668,214.00 |
|
|
Total FY2008 |
14 |
$1,717,898.00 |
Loans by Loan Type
|
Loan Type |
Time Period |
No. Loans |
Dollar Amount |
|
FHA |
07/2007 12/2007 |
21 |
$2,154,967.00 |
|
01/2008 06/2008 |
17 |
$1,747,714.00 |
|
|
Total FY2008 |
38 |
$3,902,681.00 |
|
|
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 |
9 |
$850,295.00 |
|
01/2008 06/2008 |
4 |
$463,200.00 |
|
|
Total FY2008 |
13 |
$1,313,495.00 |
|
|
Rural Development |
07/2007 12/2007 |
2 |
$286,850.00 |
|
01/2008 06/2008 |
3 |
$370,372.00 |
|
|
Total FY2008 |
5 |
$657,222.00 |
Borrowers Profile
|
Ethnicity |
Time Period |
No. Loans |
Dollar Amount |
Percent |
Mean Income |
Median Income |
|
Non-Minority |
07/2007 12/2007 |
29 |
$2,917,837.00 |
90.6% |
$38,429.58 |
$38,324.76 |
|
01/2008 06/2008 |
22 |
$2,335,376.00 |
91.7% |
$39,318.07 |
$36,990.72 |
|
|
Total FY2008 |
51 |
$5,253,213.00 |
91.1% |
$38,873.82 |
$37,657.74 |
|
|
Minority |
07/2007 12/2007 |
3 |
$374,275.00 |
9.4% |
$49,074.20 |
$53,847.12 |
|
01/2008 06/2008 |
2 |
$245,914.00 |
8.3% |
$44,922.06 |
$44,922.06 |
|
|
Total FY2008 |
5 |
$620,189.00 |
8.9% |
$46,998.13 |
$48,884.59 |
|
Gender of Head of Household |
Time Period |
No. Loans |
Percent |
|
Male |
07/2007 12/2007 |
14 |
43.8% |
|
01/2008 06/2008 |
17 |
70.8% |
|
|
Total FY2008 |
31 |
55.4% |
|
|
Female |
07/2007 12/2007 |
18 |
56.3% |
|
01/2008 06/2008 |
7 |
29.2% |
|
|
Total FY2008 |
25 |
44.6% |
|
Age of Head of Household |
Time Period |
No. Loans |
Percent |
|
18 to 22 |
07/2007 12/2007 |
6 |
18.8% |
|
01/2008 06/2008 |
3 |
12.5% |
|
|
Total FY2008 |
9 |
16.1% |
|
|
23 to 30 |
07/2007 - 12/2007 |
13 |
40.6% |
|
01/2008 06/2008 |
16 |
66.7% |
|
|
Total FY2008 |
29 |
51.8% |
|
|
31 to 40 |
07/2007 12/2007 |
7 |
21.9% |
|
01/2008 06/2008 |
3 |
12.5% |
|
|
Total FY2008 |
10 |
17.9% |
|
|
41 to 50 |
07/2007 12/2007 |
3 |
9.4% |
|
01/2008 06/2008 |
2 |
8.3% |
|
|
Total FY2008 |
5 |
8.9% |
|
|
51 to 60 |
07/2007 12/2007 |
2 |
6.3% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
2 |
3.6% |
|
|
61 to 70 |
07/2007 12/2007 |
1 |
3.1% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
1 |
1.8% |
|
|
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 |
31.9 |
|
|
01/2008 06/2008 |
27.9 |
||
|
Total FY2008 |
29.9 |
|
Average Household Size |
07/2007 12/2007 |
1.9 |
|
01/2008 06/2008 |
2.5 |
|
|
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 |
14 |
$63,284.00 |
$4,520.29 |
43.8% |
|
01/2008 06/2008 |
10 |
$49,871.00 |
$4,987.10 |
41.7% |
|
Total FY2008 |
24 |
$113,155.00 |
$4,714.79 |
42.9% |
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 |
|
ARVAC |
7 |
$36,287.00 |
0 |
$0.00 |
7 |
$36,287.00 |
|
Black Community Development Program |
0 |
$0.00 |
1 |
$6,000.00 |
1 |
$6,000.00 |
|
Community Resources Technicians |
5 |
$17,247.00 |
4 |
$18,132.00 |
9 |
$35,379.00 |
|
Dream Makers |
1 |
$4,900.00 |
1 |
$5,545.00 |
2 |
$10,445.00 |
|
Family Service Agency |
1 |
$4,850.00 |
1 |
$6,000.00 |
2 |
$10,850.00 |
|
In Affordable Housing |
0 |
$0.00 |
1 |
$6,000.00 |
1 |
$6,000.00 |
|
Universal Housing |
0 |
$0.00 |
1 |
$2,694.00 |
1 |
$2,694.00 |
Loans by New / Existing
|
New / Existing |
Time Period |
No. Loans |
Dollar Amount |
|
Existing Construction |
07/2007 12/2007 |
11 |
$46,944.00 |
|
01/2008 06/2008 |
8 |
$42,081.00 |
|
|
Total FY2008 |
19 |
$89,025.00 |
|
|
New or Proposed Construction |
07/2007 12/2007 |
3 |
$16,340.00 |
|
01/2008 06/2008 |
2 |
$7,790.00 |
|
|
Total FY2008 |
5 |
$24,130.00 |
Borrowers Profile
|
Ethnicity |
Time Period |
No. Loans |
Dollar Amount |
Percent |
Mean Income |
Median Income |
|
Non-Minority |
07/2007 12/2007 |
12 |
$52,384.00 |
85.7% |
$35,930.14 |
$37,283.88 |
|
01/2008 06/2008 |
9 |
$43,871.00 |
90.0% |
$47,614.96 |
$46,872.36 |
|
|
Total FY2008 |
21 |
$96,255.00 |
87.5% |
$41,772.55 |
$42,078.12 |
|
|
Minority |
07/2007 12/2007 |
2 |
$10,900.00 |
14.3% |
$55,173.42 |
$55,173.42 |
|
01/2008 06/2008 |
1 |
$6,000.00 |
10.0% |
$45,714.84 |
$45,714.84 |
|
|
Total FY2008 |
3 |
$16,900.00 |
12.5% |
$50,444.13 |
$50,444.13 |
|
Gender of Head of Household |
Time Period |
No. Loans |
Percent |
|
Male |
07/2007 12/2007 |
5 |
35.7% |
|
01/2008 06/2008 |
8 |
80.0% |
|
|
Total FY2008 |
13 |
54.2% |
|
|
Female |
07/2007 12/2007 |
9 |
64.3% |
|
01/2008 06/2008 |
2 |
20.0% |
|
|
Total FY2008 |
11 |
45.8% |
|
Age of Head of Household |
Time Period |
No. Loans |
Percent |
|
18 to 22 |
07/2007 12/2007 |
4 |
28.6% |
|
01/2008 06/2008 |
1 |
10.0% |
|
|
Total FY2008 |
5 |
20.8% |
|
|
23 to 30 |
07/2007 12/2007 |
6 |
42.9% |
|
01/2008 06/2008 |
6 |
60.0% |
|
|
Total FY2008 |
12 |
50.0% |
|
|
31 to 40 |
07/2007 12/2007 |
2 |
14.3% |
|
01/2008 06/2008 |
1 |
10.0% |
|
|
Total FY2008 |
3 |
12.5% |
|
|
41 to 50 |
07/2007 12/2007 |
1 |
7.1% |
|
01/2008 06/2008 |
2 |
20.0% |
|
|
Total FY2008 |
3 |
12.5% |
|
|
51 to 60 |
07/2007 12/2007 |
1 |
7.1% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
1 |
4.2% |
|
|
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 |
29.1 |
|
|
01/2008 06/2008 |
29.2 |
||
|
Total FY2008 |
29.2 |
|
Average Household Size |
07/2007 12/2007 |
1.6 |
|
01/2008 06/2008 |
2.8 |
|
|
Total FY2008 |
2.2 |
American Dream Downpayment Initiative (ADDI) Program
General Statistics
|
Time Period |
No. Loans |
Dollar Amount |
Mean Loan Amount |
% of H2O Loans |
|
07/2007 12/2007 |
9 |
$54,694.39 |
$6,077.15 |
28.1% |
|
01/2008 06/2008 |
8 |
$48,769.00 |
$6,096.13 |
33.3% |
|
Total FY2008 |
17 |
$103,463.39 |
$6,086.08 |
30.4% |
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 |
1 |
$6,200.00 |
0 |
$0.00 |
1 |
$6,200.00 |
|
ARVAC |
4 |
$20,413.39 |
3 |
$19,400.00 |
7 |
$39,813.39 |
|
Community Resources Technicians |
1 |
$7,247.00 |
0 |
$0.00 |
1 |
$7,247.00 |
|
Credit Counseling of Arkansas |
1 |
$7,340.00 |
0 |
$0.00 |
1 |
$7,340.00 |
|
Family Service Agency |
2 |
$13,494.00 |
4 |
$24,509.00 |
6 |
$38,003.00 |
|
Promise Land CDC |
0 |
$0.00 |
1 |
$4,860.00 |
1 |
$4,860.00 |
Loans by New / Existing
|
New / Existing |
Time Period |
No. Loans |
Dollar Amount |
|
Existing Construction |
07/2007 12/2007 |
7 |
$43,924.39 |
|
01/2008 06/2008 |
7 |
$41,459.00 |
|
|
Total FY2008 |
14 |
$85,383.39 |
|
|
New or Proposed Construction |
07/2007 12/2007 |
2 |
$10,770.00 |
|
01/2008 06/2008 |
1 |
$7,310.00 |
|
|
Total FY2008 |
3 |
$18,080.00 |
Borrowers Profile
|
Ethnicity |
Time Period |
No. Loans |
Dollar Amount |
Percent |
Mean Income |
Median Income |
|
Non-Minority |
07/2007 12/2007 |
7 |
$41,200.39 |
77.8% |
$26,118.03 |
$32,128.56 |
|
01/2008 06/2008 |
7 |
$40,566.00 |
87.5% |
$29,887.23 |
$30,132.00 |
|
|
Total FY2008 |
14 |
$81,766.39 |
82.4% |
$28,002.63 |
$31,130.28 |
|
|
Minority |
07/2007 12/2007 |
2 |
$13,494.00 |
22.2% |
$31,935.60 |
$31,935.60 |
|
01/2008 06/2008 |
1 |
$8,213.00 |
12.5% |
$44,129.28 |
$44,129.82 |
|
|
Total FY2008 |
3 |
$21,707.00 |
17.6% |
$38,032.44 |
$38,032.44 |
|
Gender of Head of Household |
Time Period |
No. Loans |
Percent |
|
Male |
07/2007 12/2007 |
4 |
44.4% |
|
01/2008 06/2008 |
5 |
62.5% |
|
|
Total FY2008 |
9 |
52.9% |
|
|
Female |
07/2007 12/2007 |
5 |
55.6% |
|
01/2008 06/2008 |
3 |
37.5% |
|
|
Total FY2008 |
8 |
47.1% |
|
Age of Head of Household |
Time Period |
No. Loans |
Percent |
|
18 to 22 |
07/2007 12/2007 |
3 |
33.3% |
|
01/2008 06/2008 |
2 |
25.0% |
|
|
Total FY2008 |
5 |
29.4% |
|
|
23 to 30 |
07/2007 12/2007 |
1 |
11.1% |
|
01/2008 06/2008 |
4 |
50.0% |
|
|
Total FY2008 |
5 |
29.4% |
|
|
31 to 40 |
07/2007 12/2007 |
2 |
22.2% |
|
01/2008 06/2008 |
1 |
12.5% |
|
|
Total FY2008 |
3 |
17.6% |
|
|
41 to 50 |
07/2007 12/2007 |
3 |
33.3% |
|
01/2008 06/2008 |
1 |
12.5% |
|
|
Total FY2008 |
4 |
23.5% |
|
|
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 |
31.2 |
|
|
01/2008 06/2008 |
28.3 |
||
|
Total FY2008 |
29.8 |
|
Average Household Size |
07/2007 12/2007 |
2.4 |
|
01/2008 06/2008 |
2.1 |
|
|
Total FY2008 |
2.3 |
|
TOTAL HOMEOWNERSHIP: |
|||
|
07/2007 12/2007 |
01/2008 06/2008 |
Total FY2008 |
|
|
$3,410,090.39 |
$2,679,926.00 |
$6,090,016.39 |
|
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 |
0 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
|
|
Rental New Construction |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 06/2008 |
10 |
$400,000.00 |
|
|
Total FY2008 |
10 |
$400,000.00 |
|
|
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 |
0 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
|
|
Total |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 06/2008 |
10 |
$400,000.00 |
|
|
Total FY2008 |
10 |
$400,000.00 |
|
|
Average Amount Per Unit |
07/2007 12/2007 |
$0.00 |
|
|
01/2008 6/2008 |
$40,000.00 |
||
|
Total FY2008 |
$40,000.00 |
Low Income Housing Tax Credits / Board Approvals (only one round per fiscal year)
|
No. Units |
Federal LIHTC |
State LIHTC |
Total LIHTC |
Average Per Unit |
|
38 |
$400,000.00 |
$0.00 |
$400,000.00 |
$10,526.32 |
Multifamily Housing Bonds
No Multifamily Housing Bond Activity FY2008
|
TOTAL HOUSING PRODUCTION: |
|||
|
07/2007 12/2007 |
01/2008 06/2008 |
Total FY2008 |
|
|
$0.00 |
$800,00.00 |
$800,000.00 |
|
DEVELOPMENT FINANCE
|
DEVELOPMENT FINANCE: |
|||
|
07/2007 12/2007 |
01/2008 06/2008 |
Total FY2008 |
|
|
$0.00 |
$0.00 |
$0.00 |
|
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 |
$23,837.00 |
1 |
$23,837.00 |
$23,837.00 |
TOTAL FUNDS FOR
FAULKNER
COUNTY|
07/2007 12/2007 |
01/2008 06/2008 |
Total FY2008 |
|
$3,410,090.39 |
$3,503,763.00 |
$6,913,853.39 |
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