7.1. HRSR 01-06-2020Request for Action
To Item Number
Housing and Redevelopment Authority 7.1
Agenda Section Meeting Date Prepared by
General Business January 6, 2020 Amanda Othoudt, ED Director
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 received two new applications during the last week of December. They are still under review and in
the document collection process.
Our Aging Delinquency Report shows one loan delinquent. The borrower is 270+ days past due.
The borrower sent a check for $200 and is expecting to return to a regular payment schedule. We are
charging a late fee of $8.78/month and they have thus far accrued a total of $79.05. CEE conducted
research on the equity of property and the estimated sell price comfortably exceeds their loan and
mortgage balance.
A second borrower indicated he is facing some financial challenges. He made his last payment at 29 days,
just under the delinquency period of 30 days. He requested a 3-month payment plan to avoid collections
and we are working with him on his options. He has not incurred late fees at the moment.
Financial Impact
N/A
Attachments
CEE Monthly Loan Report
The Elk River Vision
A welcoming community with revolutionary and spirited resourcefulness, exceptional
service, and community engagement that encourages and inspires prosperity
CEE SERVICING
REPORT TYPE:INVOICE REPORT
REPORT DATE:1/1/2020
REPORT PERIOD:Dec-19
INVESTOR:ELK RIVER 212 3rd Avenue North, Suite 560
Minneapolis, MN 55401
REPORTING MONTH: DECEMBER 2019 Ph.: 612.455.7805
POOL Total Count of
Loans
New Loans
Added Loans Transferred for Serviving
Count of Active
Delinquent
Accounts
Total Amount
Collected During
the Month
Principal
Collected During
the Month
Interest
Collected During
the Month
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
Row Labels Count of LOAN #Sum of NEW LOAN INDSum of SERV TRX IND
HRA REHAB 14 0 0 1 2,724.64$2,158.85$565.79$-$-$84.00$3.00$87.00$2,637.64$
Grand Total 14 0 0 1 2,724.64$2,158.85$565.79$-$-$84.00$3.00$87.00$2,637.64$
ACCOUNT DETAIL FOR INVOICING
PORTFOLIO POOL LOAN #PROPERTY CONTRACT DATE LOAN AMOUNT PMNT DATE PMNT AMOUNT PRN COLLECTED INT COLLECTED TRNX INDEX NEW LN INDEX DELINQ INDEX
ELK RIVER RESIDENTIAL HRA REHAB 19-015215 606 JEFFERSON LN NW ELK RIVER MN 55330 8/3/2015 20,650.00$12/23/2019 192.33$168.14$24.19$0 0 0
ELK RIVER RESIDENTIAL HRA REHAB 19-015212 525 8TH ST NW ELK RIVER MN 55330 8/3/2015 18,657.00$12/18/2019 173.77$144.66$29.11$0 0 0
ELK RIVER RESIDENTIAL HRA REHAB 19-015216 602 GATES AVE NW ELK RIVER MN 55330 9/3/2015 25,000.00$12/30/2019 180.00$127.56$52.44$0 0 0
ELK RIVER RESIDENTIAL HRA REHAB 19-015210 501 6TH ST ELK RIVER MN 55330 10/22/2015 5,837.00$12/30/2019 100.41$99.09$1.32$0 0 0
ELK RIVER RESIDENTIAL HRA REHAB 19-015207 1205 4TH ST NW ELK RIVER MN 55330 3/13/2016 25,000.00$12/20/2019 200.00$200.00$ $ -0 0 1
ELK RIVER RESIDENTIAL HRA REHAB 19-015204 1420 5TH ST NW ELK RIVER MN 55330 1/25/2017 22,069.00$12/20/2019 208.04$174.52$33.52$0 0 0
ELK RIVER RESIDENTIAL HRA REHAB 19-015214 730 JACKSON AVE NW ELK RIVER MN 55330 8/2/2017 25,000.00$12/23/2019 250.00$202.64$47.36$0 0 0
ELK RIVER RESIDENTIAL HRA REHAB 19-015208 806 HOLT AVE NW ELK RIVER MN 55330 9/10/2017 24,645.00$12/5/2019 200.00$137.79$62.21$0 0 0
ELK RIVER RESIDENTIAL HRA REHAB 19-015209 609 GATES AVE NW ELK RIVER MN 55330 9/22/2017 19,665.00$12/10/2019 187.63$152.02$35.61$0 0 0
ELK RIVER RESIDENTIAL HRA REHAB 19-015211 810 JACKSON AVE NW ELK RIVER MN 55330 10/31/2017 6,534.00$12/2/2019 115.24$107.82$7.42$0 0 0
ELK RIVER RESIDENTIAL HRA REHAB 19-015217 1811 MAIN ST ELK RIVER MN 55330 5/4/2018 21,640.00$12/30/2019 162.79$92.55$70.24$0 0 0
ELK RIVER RESIDENTIAL HRA REHAB 19-015206 870 VERNON AVE ELK RIVER MN 55330 12/27/2018 25,000.00$12/30/2019 400.00$327.07$72.93$0 0 0
ELK RIVER RESIDENTIAL HRA REHAB 19-016434 19135 TROY STREET NW ELK RIVER MN 55330 7/5/2019 25,000.00$12/5/2019 200.00$119.34$80.66$0 0 0
ELK RIVER RESIDENTIAL HRA REHAB 19-016564 403 3RD ST NW ELK RIVER MN 55330 7/15/2019 15,252.22$12/15/2019 154.43$105.65$48.78$0 0 0
2,724.64$2,158.85$565.79$
DocuSign Envelope ID: 47181119-C78B-494E-95E8-03684A1B6FF7
CEE SERVICING
REPORT TYPE:TRIAL BALANCE REPORT SUMMARY
REPORT DATE:1/1/2020
REPORT PERIOD:Dec-19
INVESTOR:ELK RIVER
TRIAL BALANCE PER POOL AS OF 12/31/2019
POOL LOAN COUNT LOAN VOLUME UNPAID PRN BAL
HRA REHAB 14 279,949.22$220,681.45$
Grand Total 14 279,949.22$220,681.45$
TRIAL BALANCE SUMMARY PER LOAN AS OF 12/31/2019
LOAN #POOL PROPERTY CONTRACT DATE INT RATE LOAN AMOUNT UNPAID PRN BAL
19-015215 HRA REHAB 606 JEFFERSON LN NW 8/3/2015 2.25 20,650.00$12,090.86$
19-015212 HRA REHAB 525 8TH ST NW 8/3/2015 2.25 18,657.00$11,098.49$
19-015216 HRA REHAB 602 GATES AVE NW 9/3/2015 3.25 25,000.00$18,870.46$
19-015210 HRA REHAB 501 6TH ST 10/22/2015 1.25 5,837.00$999.32$
19-015207 HRA REHAB 1205 4TH ST NW 3/13/2016 4.00 25,000.00$20,749.37$
19-015204 HRA REHAB 1420 5TH ST NW 1/25/2017 2.50 22,069.00$16,139.24$
19-015214 HRA REHAB 730 JACKSON AVE NW 8/2/2017 2.75 25,000.00$19,438.53$
19-015208 HRA REHAB 806 HOLT AVE NW 9/10/2017 3.50 24,645.00$21,486.25$
19-015209 HRA REHAB 609 GATES AVE NW 9/22/2017 2.75 19,665.00$15,605.49$
19-015211 HRA REHAB 810 JACKSON AVE NW 10/31/2017 2.25 6,534.00$3,900.96$
19-015217 HRA REHAB 1811 MAIN ST 5/4/2018 4.25 21,640.00$20,017.00$
19-015206 HRA REHAB 870 VERNON AVE 12/27/2018 4.00 25,000.00$21,137.76$
19-016434 HRA REHAB 19135 TROY STREET NW 7/5/2019 4.00 25,000.00$24,415.35$
19-016564 HRA REHAB 403 3RD ST NW 7/15/2019 4.00 15,252.22$14,732.37$
279,949.22$220,681.45$
6 MONTH COMPARATIVE REPORT
REPORTED MONTH LOAN COUNT UNPAID PRN BAL
Jul-19 15 250,435.33$
Aug-19 15 248,640.83$
Sep-19 15 226,782.11$
Oct-19 14 224,797.27$
Nov-19 14 222,840.30$
Dec-19 14 220,681.45$
15 15 15
14 14 14
13.4
13.6
13.8
14
14.2
14.4
14.6
14.8
15
15.2
Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19
6 MONTH COMPARATIVE LOAN
COUNT $250,435.33$248,640.83
$226,782.11$224,797.27$222,840.30
$220,681.45
$205,000.00
$210,000.00
$215,000.00
$220,000.00
$225,000.00
$230,000.00
$235,000.00
$240,000.00
$245,000.00
$250,000.00
$255,000.00
Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19
6 MONTH COMPARATIVE UPB
$12,090.86
$11,098.49
$18,870.46
$999.32
$20,749.37
$16,139.24
$19,438.53
$21,486.25
$15,605.49
$3,900.96
$20,017.00
$21,137.76
$24,415.35
$14,732.37
DEC-19 UNPAID PRN BAL DISTRIBUTION CHART
606 JEFFERSON LN NW
525 8TH ST NW
602 GATES AVE NW
501 6TH ST
1205 4TH ST NW
1420 5TH ST NW
730 JACKSON AVE NW
806 HOLT AVE NW
609 GATES AVE NW
810 JACKSON AVE NW
1811 MAIN ST
870 VERNON AVE
19135 TROY STREET NW
DocuSign Envelope ID: 47181119-C78B-494E-95E8-03684A1B6FF7
CEE SERVICING
REPORT TYPE:TRIAL BALANCE REPORT DETAIL
REPORT DATE:1/1/2020
REPORT PERIOD:Dec-19
INVESTOR:ELK RIVER
ACCOUNT DETAIL FOR ACTIVE LOANS AS OF 12/31/2019
LOAN #PORTFOLIO POOL ADDRESS CITY STATE ZIP CODE INT RATE CONTRACT MATURITY LOAN AMOUNT TERM UNPD PRN BAL RMNG TERM
19-015215 ELK RIVER RESIDENTIAL HRA REHAB 606 JEFFERSON LN NW ELK RIVER MN 55330 2.25 8/3/2015 8/1/2025 20,650.00$120 $12,090.86 67
19-015212 ELK RIVER RESIDENTIAL HRA REHAB 525 8TH ST NW ELK RIVER MN 55330 2.25 8/3/2015 8/1/2025 18,657.00$120 $11,098.49 67
19-015216 ELK RIVER RESIDENTIAL HRA REHAB 602 GATES AVE NW ELK RIVER MN 55330 3.25 9/3/2015 9/1/2030 25,000.00$180 $18,870.46 128
19-015210 ELK RIVER RESIDENTIAL HRA REHAB 501 6TH ST ELK RIVER MN 55330 1.25 10/22/2015 11/1/2020 5,837.00$60 $999.32 10
19-015207 ELK RIVER RESIDENTIAL HRA REHAB 1205 4TH ST NW ELK RIVER MN 55330 4.00 3/13/2016 3/13/2031 25,000.00$180 $20,749.37 134
19-015204 ELK RIVER RESIDENTIAL HRA REHAB 1420 5TH ST NW ELK RIVER MN 55330 2.50 1/25/2017 1/1/2027 22,069.00$120 $16,139.24 84
19-015214 ELK RIVER RESIDENTIAL HRA REHAB 730 JACKSON AVE NW ELK RIVER MN 55330 2.75 8/2/2017 8/1/2027 25,000.00$120 $19,438.53 91
19-015208 ELK RIVER RESIDENTIAL HRA REHAB 806 HOLT AVE NW ELK RIVER MN 55330 3.50 9/10/2017 9/1/2032 24,645.00$180 $21,486.25 152
19-015209 ELK RIVER RESIDENTIAL HRA REHAB 609 GATES AVE NW ELK RIVER MN 55330 2.75 9/22/2017 9/1/2027 19,665.00$120 $15,605.49 92
19-015211 ELK RIVER RESIDENTIAL HRA REHAB 810 JACKSON AVE NW ELK RIVER MN 55330 2.25 10/31/2017 11/1/2022 6,534.00$60 $3,900.96 34
19-015217 ELK RIVER RESIDENTIAL HRA REHAB 1811 MAIN ST ELK RIVER MN 55330 4.25 5/4/2018 5/1/2033 21,640.00$180 $20,017.00 160
19-015206 ELK RIVER RESIDENTIAL HRA REHAB 870 VERNON AVE ELK RIVER MN 55330 4.00 12/27/2018 5/1/2028 25,000.00$120 $21,137.76 99
19-016434 ELK RIVER RESIDENTIAL HRA REHAB 19135 TROY STREET NW ELK RIVER MN 55330 4.00 7/5/2019 7/5/2034 25,000.00$180 $24,415.35 175
19-016564 ELK RIVER RESIDENTIAL HRA REHAB 403 3RD ST NW ELK RIVER MN 55330 4.00 7/15/2019 7/15/2029 15,252.22$120 $14,732.37 115
279,949.22$220,681.45$
DocuSign Envelope ID: 47181119-C78B-494E-95E8-03684A1B6FF7
CEE SERVICING
REPORT TYPE:AGING DELINQUENCY REPORT
REPORT DATE:1/1/2020
REPORT PERIOD:Dec-19
INVESTOR:ELK RIVER
AGING DELINQUENCY DETAIL PER ACCOUNT AS OF 12/31/2019
LOAN #BORROWER CONTRACT UNPD PRN BAL DPD TOTAL DUE 1 TO 15 DPD 15+ DPD 30+ DPD 60+ DPD 90+ DPD UNPD LATE FEES STATUS LAST PMNT DATELAST PMNT AMNT
19-015215 606 JEFFERSON LN NW 8/3/2015 12,090.86$0 -$-$-$-$-$-$-$Current Loan 12/23/2019 192.33$
19-015212 525 8TH ST NW 8/3/2015 11,098.49$0 -$-$-$-$-$-$-$Current Loan 12/18/2019 173.77$
19-015216 602 GATES AVE NW 9/3/2015 18,870.46$0 -$-$-$-$-$-$-$Current Loan 12/30/2019 180.00$
19-015210 501 6TH ST 10/22/2015 999.32$0 -$-$-$-$-$-$-$Current Loan 12/30/2019 100.41$
19-015207 1205 4TH ST NW 3/13/2016 20,749.37$270 1,574.08$-$-$175.67$351.34$871.40$79.02$270+ DPD 12/20/2019 200.00$
19-015204 1420 5TH ST NW 1/25/2017 16,139.24$0 -$-$-$-$-$-$-$Current Loan 12/20/2019 208.04$
19-015214 730 JACKSON AVE NW 8/2/2017 19,438.53$0 -$-$-$-$-$-$-$Current Loan 12/23/2019 250.00$
19-015208 806 HOLT AVE NW 9/10/2017 21,486.25$0 -$-$-$-$-$-$-$Current Loan 12/5/2019 200.00$
19-015209 609 GATES AVE NW 9/22/2017 15,605.49$0 -$-$-$-$-$-$-$Current Loan 12/10/2019 187.63$
19-015211 810 JACKSON AVE NW 10/31/2017 3,900.96$0 -$-$-$-$-$-$-$Current Loan 12/2/2019 115.24$
19-015217 1811 MAIN ST 5/4/2018 20,017.00$0 -$-$-$-$-$-$-$Current Loan 12/30/2019 162.79$
19-015206 870 VERNON AVE 12/27/2018 21,137.76$0 -$-$-$-$-$-$-$Current Loan 12/30/2019 400.00$
19-016434 19135 TROY STREET NW 7/5/2019 24,415.35$0 -$-$-$-$-$-$-$Current Loan 12/5/2019 200.00$
19-016564 403 3RD ST NW 7/15/2019 14,732.37$0 -$-$-$-$-$-$-$Current Loan 12/15/2019 154.43$
220,681.45$1,574.08$-$-$175.67$351.34$871.40$79.02$
DocuSign Envelope ID: 47181119-C78B-494E-95E8-03684A1B6FF7
Electronic Record and Signature Disclosure
Certificate Of Completion
Envelope Id: 47181119C78B494E95E803684A1B6FF7 Status: Completed
Subject: Elk river Servicing Report
Source Envelope:
Document Pages: 8 Signatures: 0 Envelope Originator:
Certificate Pages: 4 Initials: 0 Marco Landoni
AutoNav: Enabled
EnvelopeId Stamping: Enabled
Time Zone: (UTC-06:00) Central Time (US & Canada)
212 3rd Avenue North
Minneapolis, MN 55401
mlandoni@mncee.org
IP Address: 65.121.0.34
Record Tracking
Status: Original
1/3/2020 11:28:03 AM
Holder: Marco Landoni
mlandoni@mncee.org
Location: DocuSign
Signer Events Signature Timestamp
In Person Signer Events Signature Timestamp
Editor Delivery Events Status Timestamp
Agent Delivery Events Status Timestamp
Intermediary Delivery Events Status Timestamp
Certified Delivery Events Status Timestamp
Amanda M Othoudt
AOthoudt@elkrivermn.gov
Security Level: Email, Account Authentication
(None), Access Code Using IP Address: 156.99.27.161
Sent: 1/3/2020 11:30:23 AM
Viewed: 1/3/2020 11:32:47 AM
Electronic Record and Signature Disclosure:
Accepted: 3/25/2019 1:49:11 PM
ID: 7b67470c-67ec-4b25-8725-ad9a3aa20ad1
Carbon Copy Events Status Timestamp
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Envelope Summary Events Status Timestamps
Envelope Sent Hashed/Encrypted 1/3/2020 11:30:23 AM
Certified Delivered Security Checked 1/3/2020 11:32:47 AM
Completed Security Checked 1/3/2020 11:32:47 AM
Payment Events Status Timestamps
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