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Monthly Repot For Mousing <br /> Division Projects And <br /> Activities - Nover~ber <br /> January 2, 2D07 <br /> Page ~ <br /> family, single faily and mobile homes. There are four different mobile <br /> hone programs: Mobile Hone Hardship Forgivable Loan Program, Federal <br /> Empowerment Zone Forgivable Loan Program, alHome Mobile Home Rehab Loan <br /> Program, and alHome Replaceent Loan Program. The Housing division <br /> reviews applications to determine which program. best fits the needs of <br /> the applicants. Applications are .ailed out and received for these <br /> programs on a continuing basis. chart 1 shows the number of applications <br /> sent out by type this fiscal gear. <br /> Loan Underwriting ar~d Approval Process <br /> Staff reviews applicant eliibilit~r, <br /> verifies income and assets, oversees chart ~ Leans in Underw~i~in <br /> underwriting, conducts an inspection <br /> of the unit, and prepares a work <br /> write up to determine rehabilitation in~~e Family <br /> work to be performed. Due to the owners <br /> complex funding requirements, <br /> applicant may be in underwriting as ~ <br /> long as several months . It is largely <br /> determined y the applicant to submit <br /> the necessar~r paperwork. once <br /> approved, staff prepares all ~ <br /> necessary loan documents, makes - <br /> arrangement for execution, and l~obi~e ~lorr~ ~ <br /> reserves the required loan funds. Rehabl~ep~acer~ent8 <br /> chart 2 ind~.cate the loans in the <br /> under-writing process as of November. <br /> Chart 3 Loans Approved <br /> hart ref~.ect the total <br /> s <br /> . <br /> - <br /> - - r <br /> .r <br /> - ~i i <br /> _ nu r <br /> ti:}:~ mbe of loan : <br /> - - a roved h <br /> t <br /> - - pp <br /> - - , <br /> • <br /> . <br /> . . - 4.. .\.t <br /> n <br /> ear b t <br /> -~t~ _ fiscal <br /> e o 0 <br /> ..............,;:•,r <br /> 1. - - <br /> . . <br /> - - -~°ti'> <br /> - - e level. Th <br /> - e alt <br /> :.::.:.M,:~,::,:~:.:~- <br /> - r:w~ <br /> . <br /> ::1 <br /> r. . <br /> - - - <br /> - I~ V+1 l4l l <br /> _ fun <br /> ~;:;.W;; <br /> tae asses <br /> - .r.. Lance <br /> - >~L - - <br /> - <br /> ' "-,w:4 - <br /> ~ <br /> - r <br /> . . <br /> ~ ~0 Io1~1M I <br /> _ _ -~ti;~: _ _ - <br /> . o ber f ede <br /> _ can in N vem us~n ral <br /> ¦IllR[ <br /> . _ .th4~ <br /> ~V J~IYI <br /> i `y~'l <br /> `..1'1 - <br /> a ment <br /> =F~~:>::~.~ . ale r l c a n D r <br /> ears Down <br /> =..h':::::. <br /> . . <br /> -'lam <br /> t <br /> _ ~ } <br /> _ stance AD <br /> - D I r <br /> - o ram <br /> ~ <br /> lei. - <br /> - - r:'~: v <br /> r`: <br /> _ i <br /> . . <br /> fund <br /> - - - ~:~t _ _ - - <br /> _ _ _ ;~t: _ <br /> - - <br /> n - <br /> SEr~gle Famiiy M abile h~om~ Mobile Home H~mebuyer <br /> Rehabilitatiar~ Re~lace~mer~t Re~~bil~tat~~n Pro~~am <br /> <br /> Il~~a-~~16~'~hdat~~ATrDN12~07 HAI~Vtar~ly~p~~sgDivPr~ <br /> j&Act NOV ~ -2-~7.d~c <br /> <br />