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Monthly Report <br />And Activities <br />April 2, 0~7 <br />Page <br />For Housing Division Prod ects <br />~- February ~~~7 <br />are four different mobile home programs; Mobile Home Hardship Forgivable <br />Loan Program, Federal Fmpoer~nent Zone Forg~.~rable Loan Program f Ca1Ho~ne <br />Mobile Home Rehab Lean Program, and CalHome Replacement Lean Program. <br />The Hou1ng Diva~slon reviews app~.ications to determine Which program best <br />fits the needs of the appl~.cants. Applications are mailed out and <br />xeceived for these programs an a continuing basis. Chart 1 show's the <br />number of appl.a.catians sent out by type this fiscal gear. <br />Loan Underwrita.n~ and Appro~ral Process <br />In th~.s process staff reviews applicant <br />eligibility, verifies income and assets, <br />oversees underwriting, conducts an <br />inspection of the unit, and prepares a <br />word write up to determine rehabilitation <br />worl~ to be perf armed . Due to the comp~.ex <br />fun~.ing requa.rements, applicants may be <br />in underwriting as long as several <br />months. It is largely determined by the <br />applicant's submittal of the necessary <br />paper~ror~ . Once approved, staf f prepares <br />all necessary loan documents, ~na}~es <br />arrane~nents for execution, and reserves <br />the required loan funds. Chart ~ indicates <br />the loans in the underwriting process as <br />of February . <br />hard 3 Loa~~ App~~ved <br />~o <br />s <br />Chat ~ Loam i~ U~dervv~~~in <br />ob~fe Ha~ne <br />~ehab~ <br />replacement 4 <br />ingie F~m~ly <br />Re~a~ fi <br />Chart reflects the total <br />number of ~.oans approved this <br />f ~,al gear by type of loan <br />p8~aloAMl and income level. ~~ date, <br />~~oaraAMi there have been nineteen loans <br />®~~o-~°~ ~" i funded . <br />y~4 y <br />~' l~ ~i ~ <br />iegle i'amily ~ o~ile Hama ~ chile Dome ~iome~~yer <br />Rehatailitati~n Replacement Re~abilitattan Program <br />