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Monthly Report fog Housing Divilan Projects <br />Tend at~.vitie - Deen~ber ~ ~ a <br />~`ebruary ~ , 2 ~ a 7 <br />. Page 2 <br />Hardship Fargi~r~ble loan Program, ~`ederal Empowerment bane Forgivable <br />Loin Program, alHome Mobile Home Rehab ~o~n Program, and alHame <br />Replacement Loin Program. The Housing Division re~riews applications to <br />determine which pragr~m best fits tie needs of the applicants. <br />~pplic~tians are mailed out end recei~red far these programs on ~ <br />continuing basis. chart 1 shags the number of applic~.tlans sent out by <br />type this fiscal year. <br />~,oan Underwriting end approval Process <br />Stiff reviews applicant eligibility, <br />verifies ~.ncame and assets, oversees <br />underwriting, conduits ~n ~.nspection of the <br />unit, and prepares a wor]~ write up to <br />determine reh~bl~~.tation work to be <br />performed, Due to the aomple~ funding <br />requirements, applicants may be ire <br />underwriting ~s long as several mant.s. It <br />is largely determined by the applicant to <br />sub~.t the necessary paperwork. Once <br />approved, stiff prepares all necessary loan <br />documents, makes arrangements far <br />e~eoutian, and reserves the required lawn <br />funds. chart ~ ind~.oates the 1o~ns in the <br />underwriting process ~ of December. <br />G~art 3 L~a~s Approved <br />z <br />1 <br />ingie Family M agile Hanle Mabiie Hame Homepuyer <br />Rehabilitation ~ep~acement ~ehahilitation ~rflgra~ <br />Ch~r# 2 I~oar~ ire Underwriting <br />NCabiie F6a <br />ReY~ab~Repiacement S <br />ir~~ie Far~ly <br />owner s <br />chart reflects the total <br />number of loans approved this <br />fiscal year by type of loan and <br />inoa~ne level. To date, there <br />as~~A~E <br />®~ae~~~~ have been seventeen lams <br />[.4]3a°IaAMG funded . <br />~~ <br />