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Quarterly Report for Housing Division <br />Projects and Programs <br />November 18, 2014 <br />Page 2 <br />Table 1: Applications Sent Out, Received & Approved <br />Program <br />Inquiries <br />Applications <br />Sent Out <br />Applications <br />Received <br />Applications <br />App roved <br />Q1 <br />Total <br />FY <br />Q1 <br />Total <br />FY <br />Q1 <br />Total <br />FY <br />Q1 <br />Total <br />FY <br />Single-Family Rehabilitation <br />26 <br />26 <br />18 <br />18 <br />1 <br />1 <br />2 <br />2 <br />Mobile Home Rehabilitation <br />4 <br />4 <br />2 <br />2 <br />1 <br />1 <br />1 <br />1 <br />Homeownership <br />44 <br />44 <br />41 <br />41 <br />3 <br />3 <br />2 <br />2 <br />Rehabilitation Loan Underwriting and Approval Process <br />Staff reviews applicant eligibility, verifies income and assets, and oversees underwriting to <br />ensure compliance with program guidelines and requirements established by the funding source. <br />In addition, staff conducts an inspection of the property, prepares a work write up to determine <br />rehabilitation work to be performed, and develops a budget for the work. Due to the complex <br />funding requirements, applicants may be in underwriting several months. The length of time in <br />underwriting is largely determined by the applicant's timely submittal of the necessary paperwork. <br />Once approved, staff prepares all necessary loan documents, makes arrangements for <br />execution, and reserves the required loan funds. <br />Construction Process <br />During this phase, homeowners receiving rehabilitation loans are guided through an open <br />selection of contractors to complete the work on their homes. Each homeowner is given a list of <br />contractors that have been screened by staff for license and insurance requirements. However, <br />homeowners are allowed to select any contractor that meets these same requirements. Staff <br />assists the homeowners in selection of a contractor, monitors the construction work, approves <br />payments to contractors, and tracks expenditures to ensure they do not exceed available funds. <br />At the end of this quarter, there were three homeowner rehabilitation projects out to bid, four <br />under construction, and two were completed. <br />Homeownership Marketing and Approval Process <br />During this quarter staff presented three workshops which were attended by 97 individuals, the <br />majority being Santa Ana residents. <br />Staff evaluates applicant eligibility and oversees underwriting to ensure compliance with program <br />guidelines and requirements established by HUD. Applicants must meet established income <br />requirements, complete an eight -hour pre - purchase counseling program from a HUD - approved <br />19D-2 <br />