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Monthly Report for dousing Di~risi.an Projects
<br />and activities -- January 2007
<br />~........ March 2D07
<br />Page ~
<br />applications to determine Which progx~an~ best fits the seeds of the
<br />applicants. applications aye mailed out and received far these progras
<br />an a cantin~ing basis. Chart 1 shows the number of applications sent aut
<br />by type thi f i scab. year .
<br />Laan Under~rrit~.ng and Appraval Process
<br />In this process, staff x~e~riews a~~lioant
<br />eligibilit~r, vc~~.fies income ar~d assets,
<br />oversees under~rr~.ting, conducts an
<br />inspection of the unit, and p~~pares a ~ror
<br />Trite u~ to detern~~.n~ rehabilitation wor1~ to
<br />be performed. Due o the com~le~ funding
<br />reg~irement, applicants may be in
<br />underwriting as long a several months. It
<br />is largely determined bar the applicant's
<br />submittal of the necessary pape~'~ror~. Cnce
<br />approved, staff prepares alb. necessar~r loan
<br />documents, makes arrangements for execution,
<br />and reserves the requ~.~ed loan funds. chart
<br />2 indicates the loans i r~ the uncle rt~ri t i ~, ~
<br />process as of ~Tanuary,
<br />Char# 3 Loans Approved
<br />~-
<br />~~ -
<br />-
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<br />_ 'M:' ::to-: -::'r n~u
<br />l~~ . f r=`
<br />- - - ~.li.
<br />~ - - y;: ~yij~ _
<br />+h. Js _ _
<br />- titi - - -.:. ti:: ~~:
<br />~'~; _
<br />Single Family M o~ile dome (~ o~il~ Home Homet}r~yer
<br />Rehabilitatiari Replacement Rehabili#a#ion Program
<br />ha~# ~ Loans in Underw~it~ng
<br />N~obi~e Name
<br />R~h~b11~e~lac~me~t ~
<br />~+,v per T
<br />Chart ~ reflects the total
<br />number a f 1 n
<br />oa s a roved
<br />1
<br />~ i
<br />h~
<br />t flsaal ear b
<br />t c o~
<br />1
<br />i
<br />loan an
<br />d ~,r~come level. To
<br />80 °IaAM I
<br />date ther h v
<br />~ ~. o been
<br />0 pk~ ~
<br />~l1VYi
<br />1
<br />0
<br />nin
<br />eteen loans funded.
<br />3a IoAM E
<br />y~
<br />
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