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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

Pulaski County

in Congressional District 2

HOMEOWNERSHIP

Home-to-Own (H2O)

General Statistics

 

Time Period

No. Loans

Dollar Amount

Mean Loan Amount

Median Loan Amount

07/2007 – 12/2007

81

$7,656,011.00

$94,518.65

$87,210.00

01/2008 – 06/2008

90

$8,458,346.00

$93,981.62

$84,283.00

Total FY2008

171

$16,114,357.00

$94,236.00

$85,746.50

Loan Cancellation Rate – Total FY2008:

07/2007 – 12/2007

12 (12.9%)

01/2008 – 06/2008

28 (23.7%)

FY2008 Total

41 (19.4%)

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

American Home Mortgage Corp, Little Rock, AR

1

$76,396.00

0

$0.00

1

$76,396.00

Arvest Mortgage Company, Lowell, AR

4

$402,047.00

6

$670,323.10

10

$1,072,370.00

Bank of the Ozarks, Little Rock, AR

2

$195,966.00

1

$67,835.00

3

$263,801.00

Bank of Little Rock Mortgage, Benton, AR

3

$330,914.00

7

$769,889.00

10

$1,100,803.00

Bank of Little Rock Mortgage, Little Rock, AR

2

$169,882.00

1

$68,918.00

3

$238,800.00

Bank of Little Rock Mortgage, North Little Rock, AR

6

$636,570.00

6

$490,525.00

12

$1,127,095.00

First Arkansas Mortgage, Jacksonville, AR

0

$0.00

3

$248,935.00

3

$248,935.00

First Financial Bank, Fort Smith, AR

1

$141,382.00

1

$135,429.00

2

$276,811.00

First Financial Bank, North Little Rock, AR

2

$210,387.00

0

$0.00

2

$210,387.00

First Security Bank, Searcy, AR

3

$357,713.00

0

$0.00

3

$357,713.00

First Security Bank, Conway, AR

0

$0.00

1

$81,357.00

1

$81,357.00

Liberty Bank, Russellville, AR

0

$0.00

1

$88,755.00

1

$88,755.00

Magna Bank, Little Rock, AR

2

$241,706.00

4

$284,960.00

6

$526,666.00

Metropolitan National Bank, Little Rock, AR

5

$493,510.00

2

$147,831.00

7

$641,341.00

Moore Mortgage, Little Rock, AR

5

$540,619.00

8

$697,525.00

13

$1,238,144.00

National Bank of Arkansas, Little Rock, AR

3

$349,900.00

3

$400,000.00

6

$749,900.00

One Bank & Trust, Little Rock, AR

1

$83,200.00

1

$160,050.00

2

$243,250.00

Pulaski Mortgage Company, Little Rock, AR

24

$1,773,530.00

16

$1,301,934.00

40

$3,075,464.00

Regions Mortgage, Little Rock, AR (371)

1

$115,440.00

0

$0.00

1

$115,440.00

Regions Mortgage, Little Rock, AR (221)

6

$626,670.00

10

$1,103,689.00

16

$1,730,359.00

Regions Mortgage, Searcy, AR

0

$0.00

1

$50,000.00

1

$50,000.00

Simmons First National Bank, Pine Bluff, AR

0

$0.00

1

$51,196.00

1

$51,196.00

Summit Bank, Inc., Little Rock, AR

0

$0.00

1

$51,196.00

1

$51,196.00

Telcoe Federal Credit Union, Little Rock, AR

1

$134,000.00

1

$120,448.00

2

$254,448.00

The Carroll Mortgage Group, Little Rock, AR

5

$443,951.00

6

$639,991.00

11

$1,083,942.00

US Bank Home Mortgage, Bryant, AR

0

$0.00

3

$219,364.00

3

$219,364.00

US Bank Home Mortgage, North Little Rock, AR

4

$332,228.00

1

$111,550.00

5

$443,778.00

Loans by New / Existing

New / Existing

Time Period

No. Loans

Dollar Amount

Existing Construction

07/2007 – 12/2007

75

$6,845,650.00

01/2008 – 06/2008

82

$7,437,218.00

Total FY2008

157

$14,282,868.00

New or Proposed Construction

07/2007 – 12/2007

6

$810,461.00

01/2008 – 06/2008

8

$1,021,128.00

Total FY2008

14

$1,831,589.00

Loans by Loan Type

Loan Type

Time Period

No. Loans

Dollar Amount

FHA

07/2007 – 12/2007

52

$4,565,926.00

01/2008 – 06/2008

68

$5,895,401.00

Total FY2008

120

$10,461,327.00

VA

07/2007 – 12/2007

0

$0.00

01/2008 - 06/2008

4

$496,463.00

Total FY2008

4

$496,463.00

Conventional

07/2007 – 12/2007

29

$3,090,085.00

01/2008 – 06/2008

18

$2,066,482.00

Total FY2008

47

$5,156,567.00

Rural Development

07/2007 – 12/2007

0

$0.00

01/2008 – 06/2008

0

$0.00

Total FY2008

0

$0.00

Borrowers’ Profile

 

Ethnicity

Time Period

No. Loans

Dollar Amount

Percent

Mean Income

Median Income

Non-Minority

07/2007 – 12/2007

36

$3,725,685.00

44.4%

$37,210.75

$38,662.98

01/2008 – 06/2008

54

$5,336,038.00

60.0%

$40,385.74

$42,848.04

Total FY2008

90

$9,061,723.00

52.6%

$38,798.24

$40,755.51

Minority

07/2007 – 12/2007

45

$3,930,326.00

55.6%

$38,335.78

$41,196.24

01/2008 – 06/2008

36

$3,122,308.00

40.0%

$37,084.11

$36,193.13

Total FY2008

81

$7,052,634.00

47.4%

$37,709.94

$38,694.68

Gender of Head of Household

Time Period

No. Loans

Percent

Male

07/2007 – 12/2007

32

39.5%

01/2008 – 06/2008

36

40.0%

Total FY2008

68

39.8%

Female

07/2007 – 12/2007

48

59.3%

01/2008 – 06/2008

53

58.9%

Total FY2008

101

59.1%

Unknown

07/2007 – 12/2007

1

1.2%

01/2008 – 06/2008

1

1.1%

Total FY2008

2

1.1%

Age of Head of Household

Time Period

No. Loans

Percent

18 to 22

07/2007 – 12/2007

5

6.1%

01/2008 – 06/2008

5

5.6%

Total FY2008

10

5.8%

23 to 30

07/2007 - 12/2007

42

51.9%

01/2008 – 06/2008

37

41.1%

Total FY2008

79

46.2%

31 to 40

07/2007 – 12/2007

14

17.3%

01/2008 – 06/2008

20

22.2%

Total FY2008

34

19.9%

41 to 50

07/2007 – 12/2007

13

16.0%

01/2008 – 06/2008

15

16.7%

Total FY2008

28

16.4%

51 to 60

07/2007 – 12/2007

4

4.9%

01/2008 – 06/2008

8

8.9%

Total FY2008

12

7.0%

61 to 70

07/2007 – 12/2007

3

3.7%

01/2008 – 06/2008

3

3.3%

Total FY2008

6

3.5%

71+

07/2007 – 12/2007

0

0.0%

01/2008 – 06/2008

1

1.1%

Total FY2008

1

0.6%

Unknown

07/2007 – 12/2007

0

0.0%

01/2008 – 06/2008

1

0.1%

Total FY2008

1

0.6%

Average Age

07/2007 – 12/2007

33.5

 

01/2008 – 06/2008

35.6

Total FY2008

34.6

Average Household Size

07/2007 – 12/2007

2.1

01/2008 – 06/2008

2.0

Total FY2008

2.1

Down Payment Assistance Program (DPA)

General Statistics

 

Time Period

No. Loans

Dollar Amount

Mean Loan Amount

% of H2O Loans

07/2007 – 12/2007

37

$150,033.00

$4,054.95

45.7%

01/2008 – 06/2008

53

$223,331.00

$4,213.79

58.9%

Total FY2008

90

$373,364.00

$4,148.49

52.6%

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

6

$26,635.00

5

$21,385.11

11

$48,020.11

ARVAC

0

$0.00

1

$6,000.00

1

$6,000.00

Black Community Development Program.

3

$11,721.00

6

$25,936.00

9

$37,657.00

Community Resources Technicians

10

$44,826.00

16

$59,195.00

26

$104,021.00

Dream Makers

6

$22,561.00

10

$43,987.00

16

$66,548.00

Family Service Agency

2

$7,310.00

5

$26,976.00

7

$34,286.00

In Affordable Housing

7

$27,080.00

9

$34,152.00

16

$61,232.00

Promise Land CDC

3

$9,900.00

0

$0.00

3

$9,900.00

Universal Housing

0

$0.00

1

$5,700.00

1

$5,700.00

Loans by New / Existing

New / Existing

Time Period

No. Loans

Dollar Amount

Existing Construction

07/2007 – 12/2007

31

$119,908.00

01/2008 – 06/2008

48

$196,189.00

Total FY2008

79

$316,097.00

New or Proposed Construction

07/2007 – 12/2007

6

$30,125.00

01/2008 – 06/2008

5

$27,142.00

Total FY2008

11

$57,267.00

Borrowers’ Profile

 

Ethnicity

Time Period

No. Loans

Dollar Amount

Percent

Mean Income

Median Income

Non-Minority

07/2007 – 12/2007

14

$60,128.00

37.8%

$44,228.78

$44,928.00

01/2008 – 06/2008

32

$126,517.00

60.4%

$41,977.66

$44,853.54

Total FY2008

46

$186,945.00

51.1%

$43,103.22

$44,890.77

Minority

07/2007 – 12/2007

23

$89,905.00

62.2%

$45,933.52

$48,264.00

01/2008 – 06/2008

21

$96,814.00

39.6%

$42,013.58

$40,312.20

Total FY2008

44

$186,719.00

48.9%

$43,973.55

$44,288.10

Gender of Head of Household

Time Period

No. Loans

Percent

Male

07/2007 – 12/2007

17

46.0%

01/2008 – 06/2008

21

39.6%

Total FY2008

38

42.2%

Female

07/2007 – 12/2007

19

51.3%

01/2008 – 06/2008

32

60.4%

Total FY2008

51

56.7%

Unknown

07/2007 – 12/2007

1

2.7%

01/2008 – 06/2008

0

0.0%

Total FY2008

1

1.1%

Age of Head of Household

Time Period

No. Loans

Percent

18 to 22

07/2007 – 12/2007

1

2.7%

01/2008 – 06/2008

3

5.7%

Total FY2008

4

4.4%

23 to 30

07/2007 – 12/2007

23

62.2%

01/2008 – 06/2008

20

37.7%

Total FY2008

43

47.8%

31 to 40

07/2007 – 12/2007

5

13.5%

01/2008 – 06/2008

11

20.8%

Total FY2008

16

17.8%

41 to 50

07/2007 – 12/2007

6

16.2%

01/2008 – 06/2008

10

18.9%

Total FY2008

16

17.8%

51 to 60

07/2007 – 12/2007

1

2.7%

01/2008 – 06/2008

5

9.4%

Total FY2008

6

6.7%

61 to 70

07/2007 – 12/2007

1

2.7%

01/2008 – 06/2008

2

3.8%

Total FY2008

3

3.3%

71+

07/2007 – 12/2007

0

0.0%

01/2008 – 06/2008

1

1.9%

Total FY2008

1

1.1%

Unknown

07/2007 – 12/2007

0

0.0%

01/2008 – 06/2008

1

1.9%

Total FY2008

1

1.1%

Average Age

07/2007 – 12/2007

33.1

 

01/2008 – 06/2008

36.2

Total FY2008

34.7

Average Household Size

07/2007 – 12/2007

2.2

01/2008 – 06/2008

1.9

Total FY2008

2.1

American Dream Downpayment Initiative (ADDI) Program

General Statistics

 

Time Period

No. Loans

Dollar Amount

Mean Loan Amount

% of H2O Loans

07/2007 – 12/2007

15

$95,885.00

$6,392.33

18.5%

01/2008 – 06/2008

20

$118,142.00

$5,907.10

22.2%

Total FY2008

35

$214,027.00

$6,115.06

20.4%

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

$7,486.00

2

$11,500.00

3

$18,986.00

Black Community Development Program

0

$0.00

3

$18,446.00

3

$18,446.00

Community Resources Technicians

4

$26,722.00

7

$41,854.00

11

$68,576.00

Dream Makers

3

$15,958.00

3

$11,481.00

6

$27,439.00

Family Service Agency

2

$13,730.00

0

$0.00

2

$13,730.00

In Affordable Housing, Inc.

2

$8,772.00

5

$34,861.00

7

$43,633.00

One Stop Homeowner’s Center

1

$5,591.00

0

$0.00

1

$5,591.00

Promise Land CDC

2

$17,626.00

0

$0.00

2

$17,626.00

Loans by New / Existing

New / Existing

Time Period

No. Loans

Dollar Amount

Existing Construction

07/2007 – 12/2007

14

$87,846.00

01/2008 – 06/2008

19

$112,142.00

Total FY2008

33

$199,988.00

New or Proposed Construction

07/2007 – 12/2007

1

$8,039.00

01/2008 – 06/2008

1

$6,000.00

Total FY2008

2

$14,039.00

Borrowers’ Profile

 

Ethnicity

Time Period

No. Loans

Dollar Amount

Percent

Mean Income

Median Income

Non-Minority

07/2007 – 12/2007

9

$55,264.00

60.0%

$23,517.77

$22,620.00

01/2008 – 06/2008

10

$63,059.00

50.0%

$29,171.87

$29,116.20

Total FY2008

19

$118,323.00

54.3%

$26,344.82

$25,868.10

Minority

07/2007 – 12/2007

6

$40,621.00

40.0%

$31,334.76

$31,268.58

01/2008 – 06/2008

10

$55,083.00

50.0%

$27,034.22

$27,777.54

Total FY2008

16

$95,704.00

45.7%

$29,184.49

$29,523.06

Gender of Head of Household

Time Period

No. Loans

Percent

Male

07/2007 – 12/2007

6

40.0%

01/2008 – 06/2008

5

25.0%

Total FY2008

11

31.4%

Female

07/2007 – 12/2007

8

53.3%

01/2008 – 06/2008

13

65.0%

Total FY2008

21

60.0%

Unknown

07/2007 – 12/2007

1

6.7%

01/2008 – 06/2008

2

10.0%

Total FY2008

3

8.6%

Age of Head of Household

Time Period

No. Loans

Percent

18 to 22

07/2007 – 12/2007

2

13.3%

01/2008 – 06/2008

3

15.0%

Total FY2008

5

14.3%

23 to 30

07/2007 – 12/2007

9

60.0%

01/2008 – 06/2008

10

50.0%

Total FY2008

19

54.3%

31 to 40

07/2007 – 12/2007

2

13.3%

01/2008 – 06/2008

4

20.0%

Total FY2008

6

17.1%

41 to 50

07/2007 – 12/2007

0

0.0%

01/2008 – 06/2008

3

15.0%

Total FY2008

3

8.6%

51 to 60

07/2007 – 12/2007

2

13.3%

01/2008 – 06/2008

0

0.0%

Total FY2008

2

5.7%

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

29.9

 

01/2008 – 06/2008

30.4

Total FY2008

30.2

Average Household Size

07/2007 – 12/2007

2.0

01/2008 – 06/2008

2.0

Total FY2008

2.0

TOTAL HOMEOWNERSHIP:

 

07/2007 – 12/2007

01/2008 – 06/2008

Total FY2008

$7,901,929.00

$8,799,819.00

$16,701,748.00

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

7

$192,500.00

Total FY2008

7

$192,500.00

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

17

$592,500.00

Total FY2008

17

$592,500.00

Average Amount Per Unit

07/2007 – 12/2007

 

$0.00

01/2008 – 6/2008

$34,852.94

Total FY2008

$34,852.94

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 Program Activity FY2008

TOTAL HOUSING PRODUCTION:

 

07/2007 – 12/2007

01/2008 – 06/2008

Total FY2008

$0.00

$992,500.00

$992,500.00

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

1

$6,000,000.00

$6,000,000.00

Total FY2008

1

$6,000,000.00

$6,000,000.00

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

1

$18,000,000.00

$18,000,000.00

01/2008 – 06/2008

0

$0.00

$0.00

Total FY2008

1

$18,000,000.00

$18,000,000.00

Safe Drinking Water Revolving Loan Fund

07/2007 – 12/2007

1

$450,000.00

$450,000.00

01/2008 – 06/2008

0

$0.00

$0.00

Total FY2008

1

$450,000.00

$450,000.00

State Facilities Financing

07/2007 – 12/2007

2

$3,910,000.00

$1,955,000.00

01/2008 – 06/2008

0

$0.00

$0.00

Total FY2008

2

$3,910,000.00

$1,955,000.00

Other (Special Projects, Interim Loans, Conduit Issues, Capital Access)

07/2007 – 12/2007

2

$13,100,000.00

$6,550,000.00

01/2008 – 06/2007

0

$0.00

$0.00

Total FY2008

2

$13,100,000.00

$6,550,000.00

DEVELOPMENT FINANCE:

 

07/2007 – 12/2007

01/2008 – 06/2008

Total FY2008

$35,460,000.00

$6,000,000.00

$41,460,000.00

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

2

$34,100.00

0

$0.00

2

$34,100.00

$17,050.00

 

 

TOTAL FUNDS FOR

Pulaski COUNTY

07/2007 – 12/2007

01/2008 – 06/2008

Total FY2008

$43,396,029.00

$15,792,319.00

$59,188,348.00

 

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