7.2. HRSR 05-06-2019Request for Action
To Item Number
Housing and Redevelopment Authority 7.2
Agenda Section Meeting Date Prepared by
General Business May 6, 2019 Amanda Othoudt, EDD
Item Description Reviewed by
HRA Housing Rehabilitation Loan Program Update Cal Portner, City Administrator
Reviewed by
Action Requested
Receive update on the Rehabilitation Loan Program
Background/Discussion
CEE has received nine total requests for information on the HRA rehabilitation loan program since
February 25, 2019. Two of the requests have turned in formal applications. Three applicants requested
paper applications to be mailed out. Four of the requests are still in the early stages. One application was
withdrawn last month.
Our Aging Delinquency Report shows two loans delinquent. One 30 days and the other is 90+ days
delinquent. Attempts are being made by both CEE and staff to work with the homeowners on getting
their accounts current.
Financial Impact
The total 2019 program budget is $117,854. This allocation includes $67,854 that has revolved from the
program since its inception and $50,000 budgeted for 2019.
Attachments
CEE Monthly Loan Reports
The Elk River Vision
A welcoming community with revolutionary and spirited resourcefulness, exceptional
service, and community engagement that encourages and inspires prosperity
City of Elk River Loan Servicing Report
Results Period: April 1st to April 30th, 2019
Report of Active Accounts Serviced by CEE as of April 30th, 2019
Includes Loan Balances and Maturity Dates
05/01/2018
DocuSign Envelope ID: 5078937D-34EB-4CC5-AAD8-E62E65BED0AF
Pg. 2
1.Invoice Report for March 2019
2.Trial Balance Report for March 2019
3.Aging Delinquency Report
Table of Contents:
DocuSign Envelope ID: 5078937D-34EB-4CC5-AAD8-E62E65BED0AF
CEE SERVICINGREPORT TYPE: INVOICE REPORTREPORT DATE: 5/1/2019REPORT PERIOD: 4/01/2019 TO 4/30/2019CLIENT: CITY OF ELK RIVERREPORTING MONTH: APRIL 2019INVESTOR/POOL Total count of LoansNew Loans Added to the PoolLoans Transferred for ServicingTotal Amount Collected during the MonthPrincipal Collected During the MonthInterest Collected During the MonthCount of Active Delinquent Accounts New Loan On-boarding Fee @ $20/Account Loan Transfer On-Boarding Fee @ $20/Account Monthly Servicing @ $6/Account Delinquent Loan Management @ $3/Account Total Monthly Fees Netted Amount to Transfer to Investor ELK RIVERELK RIVER HRA REHAB13001,991.94$ 1,468.03$ 523.91$ 1-$ -$ 78.00$ 3.00$ 81.00$ 1,910.94$ Grand Total13001,991.94$ 1,468.03$ 523.91$ 1-$ -$ 78.00$ 3.00$ 81.00$ 1,910.94$ ACCOUNT DETAIL FOR INVOICINGBORROWERRECEIVABLEPOOLLOAN #DATE CREATEDCONTRACT DATENEW LOANTRANSFERREDPMNT COLLECTEDPRIN COLLECTEDINT COLLECTEDPMNT DATEDELINQ INDEXTRACY CUNNINGHAM ELK RIVER RESIDENTIAL HRA REHAB 19-015204 3/12/2019 1/25/2017 0 0 $210.00 $161.03 $48.97 4/8/2019 0JESSICA GADACH ELK RIVER RESIDENTIAL HRA REHAB 19-015206 3/12/2019 12/27/2018 0 0 $400.00 $318.31 $81.69 4/29/2019 0MATT HICKS ELK RIVER RESIDENTIAL HRA REHAB 19-015207 3/12/2019 3/13/2016 0 0 $0.00 $0.00 $0.00 1WILLIAM HOOPS ELK RIVER RESIDENTIAL HRA REHAB 19-015208 3/12/2019 9/10/2017 0 0 $200.00 $115.17 $84.83 4/5/2019 0LARRY KRIEG ELK RIVER RESIDENTIAL HRA REHAB 19-015209 3/12/2019 9/22/2017 0 0 $187.63 $135.29 $52.34 4/10/2019 0SAMUEL MAHON ELK RIVER RESIDENTIAL HRA REHAB 19-0152103/12/2019 10/22/2015 0 0 $100.41 $98.40 $2.01 4/25/2019 0LINDA MCCLELLAN ELK RIVER RESIDENTIAL HRA REHAB 19-015211 3/12/2019 10/31/2017 0 0 $115.24 $105.95 $9.29 4/1/20190SHAWN MENNING ELK RIVER RESIDENTIAL HRA REHAB 19-015212 3/12/2019 8/3/2015 0 0 $173.54 $158.18 $15.36 4/1/2019 0JEROME OLESEN ELK RIVER RESIDENTIAL HRA REHAB 19-015213 3/12/2019 9/2/2015 0 0 $0.00 $0.00 $0.00 0SCOT SANDHOEFNER ELK RIVER RESIDENTIAL HRA REHAB 19-015214 3/12/2019 8/2/2017 0 0 $250.00 $189.16 $60.84 4/22/2019 0MARLIN STIMPSON ELK RIVER RESIDENTIAL HRA REHAB 19-015215 3/12/2019 8/3/2015 0 0 $192.33 $166.34 $25.99 4/22/20190CHAD SWENSON ELK RIVER RESIDENTIAL HRA REHAB 19-0152163/12/2019 9/3/2015 0 0 $0.00 $0.00 $0.00 4/25/2019 0KYLE TORFINELK RIVER RESIDENTIALHRA REHAB19-0152173/12/20195/4/201800$162.79$20.20$142.594/29/201901,991.94$ 1,468.03$ 523.91$ DocuSign Envelope ID: 5078937D-34EB-4CC5-AAD8-E62E65BED0AF
CEE SERVICINGREPORT TYPE:TRIAL BALANCE REPORT SUMMARYREPORT DATE:5/1/2019REPORT PERIOD:4/01/2019 TO 4/30/2019CLIENT:CITY OF ELK RIVERACCOUNT DETAIL FOR LOANS ACTIVE FROM 4/01/2019 TO 4/30/2019LOAN #PORTFOLIOSUB-PORTFOLIOBORROWER NAMEADDRESSCITYSTATE ZIP CODECOLLATERAL TYPEINTEREST RATECONTRACT DATEMATURITY DATELOAN AMOUNTLOAN TERMUNPAID PRIN BALREMAINING TERM19-015204ELK RIVER RESIDENTIALELK RIVER HRA REHABTRACY CUNNINGHAM1420 5TH ST NWELK RIVERMN55330Real Estate2.501/25/20171/1/202722,069.00$ 12017,713.63$ 9319-015206ELK RIVER RESIDENTIALELK RIVER HRA REHABJESSICA GADACH870 VERNON AVEELK RIVERMN55330Real Estate4.0012/27/201810/1/202825,000.00$ 12023,730.78$ 11419-015207ELK RIVER RESIDENTIALELK RIVER HRA REHABMATT HICKS1205 4TH ST NWELK RIVERMN55330Real Estate3.253/13/20163/1/203125,000.00$ 18021,138.70$ 14319-015208ELK RIVER RESIDENTIALELK RIVER HRA REHABWILLIAM HOOPS806 HOLT AVE NWELK RIVERMN55330Real Estate3.509/10/20179/1/203224,645.00$ 18022,569.25$ 16119-015209ELK RIVER RESIDENTIALELK RIVER HRA REHABLARRY KRIEG609 GATES AVE NWELK RIVERMN55330Real Estate2.759/22/20179/1/202719,665.00$ 12016,807.18$ 10119-015210ELK RIVER RESIDENTIALELK RIVER HRA REHABSAMUEL MAHON501 6TH STELK RIVERMN55330Real Estate1.2510/22/201511/1/20205,837.00$ 601,790.32$ 1919-015211ELK RIVER RESIDENTIALELK RIVER HRA REHABLINDA MCCLELLAN810 JACKSON AVE NWELK RIVERMN55330Real Estate2.2510/31/201711/1/20226,534.00$ 604,756.65$ 4319-015212ELK RIVER RESIDENTIALELK RIVER HRA REHABSHAWN MENNING525 8TH ST NWELK RIVERMN55330Real Estate2.258/3/20158/1/202518,657.00$ 12012,299.06$ 7619-015213ELK RIVER RESIDENTIALELK RIVER HRA REHABJEROME OLESEN420 MAIN STELK RIVERMN55330Real Estate3.259/2/20159/1/203025,000.00$ 18020,233.47$ 13719-015214ELK RIVER RESIDENTIALELK RIVER HRA REHABSCOT SANDHOEFNER730 JACKSON AVE NWELK RIVERMN55330Real Estate2.758/2/20178/1/202725,000.00$ 12021,062.33$ 10019-015215ELK RIVER RESIDENTIALELK RIVER HRA REHABMARLIN STIMPSON606 JEFFERSON LN NWELK RIVERMN55330Real Estate2.258/3/20158/1/202520,650.00$ 12013,435.54$ 7619-015216ELK RIVER RESIDENTIALELK RIVER HRA REHABCHAD SWENSON602 GATES AVE NWELK RIVERMN55330Real Estate3.259/3/20159/1/203025,000.00$ 18019,879.15$ 13719-015217ELK RIVER RESIDENTIALELK RIVER HRA REHABKYLE TORFIN1811 MAIN STELK RIVERMN55330Real Estate4.255/4/20185/1/203321,640.00$ 18020,736.63$ 169264,697.00$ 216,152.69$ DocuSign Envelope ID: 5078937D-34EB-4CC5-AAD8-E62E65BED0AF
CEE SERVICINGREPORT TYPE:AGING DELINQUENCY REPORTREPORT DATE:5/1/2019REPORT PERIOD:4/01/2019 TO 4/30/2019CITY / INVESTOR:ELK RIVERCLIENT NUMBER:8REPORT SUMMARYSTATUSLOAN COUNTPAST DUE AMOUNT15+ DPD Loan3498.50$ 60+ DPD Loan1527.01$ Current Loan9-$ Grand Total131,025.51$ AGING DELINQUENCY DETAIL PER ACCOUNT AS OF 4/26/2019LOAN #BORROWER 1BORROWER 2ADDRESSCONTRACT DATELOAN AMOUNTLOAN BALANCEDPDTOTAL AMOUNT DUE1 TO 15 DPD15+ DAYS PAST DUE30+ DAYS PAST DUE60+ DAYS PAST DUE90+ DAYS PAST DUELOAN STATUSLAST PAYMENT DATELAST PAYMENT AMOUNTNEXT DUE DATE19-015206JESSICA GADACHLYNN GADACH870 VERNON AVE ELK RIVER MN 5533012/27/201825,000.00$ 23,730.78$ 0-$ -$ -$ -$ -$ -$ Current Loan4/29/2019400.00$ 6/1/201919-015208WILLIAM HOOPSDENISE HOOPS806 HOLT AVE NW ELK RIVER MN 553309/10/201724,645.00$ 22,569.25$ 0176.18$ 175.18$ -$ -$ -$ -$ Current Loan4/5/2019200.00$ 5/1/201919-015209LARRY KRIEGNANCY KRIEG609 GATES AVE NW ELK RIVER MN 553309/22/201719,665.00$ 16,807.18$ 0187.63$ 187.63$ -$ -$ -$ -$ Current Loan4/10/2019187.63$ 5/1/201919-015210SAMUEL MAHONAUDREY MAHON501 6TH ST ELK RIVER MN 5533010/22/20155,837.00$ 1,790.32$ 0-$ -$ -$ -$ -$ -$ Current Loan4/25/2019100.41$ 6/1/201919-015211LINDA MCCLELLANDANIEL MCCLELLAN810 JACKSON AVE NW ELK RIVER MN 5533010/31/20176,534.00$ 4,756.65$ 0115.24$ 115.24$ -$ -$ -$ -$ Current Loan4/1/2019115.24$ 5/1/201919-015212SHAWN MENNINGDEBORAH MENNING525 8TH ST NW ELK RIVER MN 553308/3/201518,657.00$ 12,299.06$ 0173.77$ 173.77$ -$ -$ -$ -$ Current Loan4/1/2019173.54$ 5/1/201919-015214SCOT SANDHOEFNERKRISTEN SANDHOEFNER730 JACKSON AVE NW ELK RIVER MN 553308/2/201725,000.00$ 21,062.33$ 0-$ -$ -$ -$ -$ -$ Current Loan4/22/2019250.00$ 6/1/201919-015215MARLIN STIMPSONVICKY STIMPSON606 JEFFERSON LN NW ELK RIVER MN 553308/3/201520,650.00$ 13,435.54$ 0-$ -$ -$ -$ -$ -$ Current Loan4/22/2019192.33$ 6/1/201919-015216CHAD SWENSONJAYME SWENSON602 GATES AVE NW ELK RIVER MN 553309/3/201525,000.00$ 19,879.15$ 0-$ -$ -$ -$ -$ -$ Current Loan4/25/2019176.00$ 6/1/201919-015204TRACY CUNNINGHAMERIN CUNNINGHAM1420 5TH ST NW ELK RIVER MN 553301/25/201722,069.00$ 17,571.11$ 0208.04$ 208.04$ -$ -$ -$ -$ Current Loan4/30/2019208.04$ 5/1/201919-015213JEROME OLESENBARBARA OLESEN420 MAIN ST ELK RIVER MN 553309/2/201525,000.00$ 20,233.47$ 30351.34$ 175.67$ -$ 175.67$ -$ -$ 30+ DPD3/15/2019175.67$ 4/1/201919-015217KYLE TORFIN1811 MAIN ST ELK RIVER MN 553305/4/201821,640.00$ 20,736.63$ 0162.79$ 162.79$ -$ -$ -$ -$ Current Loan4/29/2019162.79$ 5/1/201919-015207MATT HICKSCAROL HICKS1205 4TH ST NW ELK RIVER MN 553303/13/201625,000.00$ 21,138.70$ 90702.68$ 175.67$ -$ 175.67$ 175.67$ 175.67$ 90+ DPD2/5/2019180.00$ 2/1/20192,077.67$ 1,373.99$ -$ 351.34$ 175.67$ 175.67$ COMPARATIVE SUMMARYMar-19Apr-19STATUSLOAN COUNTLOAN COUNT15+ DPD Loan1030+ DPD Loan0160+ DPD Loan1090+ DPD Loan01Current Loan1111DocuSign Envelope ID: 5078937D-34EB-4CC5-AAD8-E62E65BED0AF
Certificate Of Completion
Envelope Id: 5078937D34EB4CC5AAD8E62E65BED0AF Status: Completed
Subject: CEE-CITY-OF-ELK-RIVER-APRIL-2019-SERVICING-REPORT
Source Envelope:
Document Pages: 5 Signatures: 0 Envelope Originator:
Certificate Pages: 4 Initials: 0 Marco Landoni
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5/2/2019 7:42:41 PM
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