7.3. HRSR 02-03-2020Request for Action
To Item Number
Housing and Redevelopment Authority 7.3
Agenda Section Meeting Date Prepared by
General Business February 3, 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 has not received any new applications this month. Of the two applications received late last month,
one was declined due to delinquency in the first mortgage (120+ DPD), and the other one is still under
review.
Our Aging Delinquency Report shows one loan delinquent. The borrower is 270+ days past due.
This borrower has started working again and they will be sending as much money as they can to bring the
account up to date. They don't have the financial resources yet to bring the account current at once, but
they think they can work on bringing it current a few months after they start receiving periodic
paychecks. They seem to be really committed to make the account current and continue making
payments. CEE suggests that they make three regular payments in a row, and on time, then offer them a
Forbearance Plan to modify the loan.
CEE had a good conversation with another borrower and reached an agreement to make their monthly
payments, they just need a couple of months to be ready. Right now they are paying via Auto-Pay on the
30th of the month (29 days late but not over 30), so they agreed to make January, February and March
payments as scheduled and then, after the Auto-Pay on March 30th is posted, CEE will change the
schedule and we will start pulling the Auto-Pay on the 9th of the month beginning on April 9th, and will
bring them back on track.
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:PARTIAL TRIAL BALANCE REPORT SUMMARY
REPORT DATE:1/29/2020
REPORT PERIOD:Jan-20
INVESTOR:ELK RIVER
TRIAL BALANCE PER POOL AS OF 1/29/2020
POOL LOAN COUNT LOAN VOLUME UNPAID PRN BAL
HRA REHAB 14 279,949.22$219,474.58$
Grand Total 14 279,949.22$219,474.58$
TRIAL BALANCE SUMMARY PER LOAN AS OF 1/29/2020
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$11,920.14$
19-015212 HRA REHAB 525 8TH ST NW 8/3/2015 2.25 18,657.00$10,952.09$
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$899.87$
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$15,965.47$
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$21,350.12$
19-015209 HRA REHAB 609 GATES AVE NW 9/22/2017 2.75 19,665.00$15,454.31$
19-015211 HRA REHAB 810 JACKSON AVE NW 10/31/2017 2.25 6,534.00$3,793.17$
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$24,298.30$
19-016564 HRA REHAB 403 3RD ST NW 7/15/2019 4.00 15,252.22$14,627.99$
279,949.22$219,474.58$
6 MONTH COMPARATIVE REPORT
REPORTED MONTH LOAN COUNT UNPAID PRN BAL
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$
Jan-20 14 219,474.58$
15 15
14 14 14 14
13.4
13.6
13.8
14
14.2
14.4
14.6
14.8
15
15.2
Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20
6 MONTH COMPARATIVE LOAN
COUNT
$248,640.83
$226,782.11
$224,797.27
$222,840.30
$220,681.45
$219,474.58
$200,000.00
$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
Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20
6 MONTH COMPARATIVE UPB
$11,920.14
$10,952.09
$18,870.46
$899.87
$20,749.37
$15,965.47
$19,438.53
$21,350.12
$15,454.31
$3,793.17
$20,017.00
$21,137.76
$24,298.30
$14,627.99
JAN 2020 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: 79C46309-0C0B-4263-8778-944D944AFE1D
CEE SERVICING
REPORT TYPE:PARTIAL TRIAL BALANCE REPORT DETAIL
REPORT DATE:1/29/2020
REPORT PERIOD:Jan-20
INVESTOR:ELK RIVER
ACCOUNT DETAIL FOR ACTIVE LOANS AS OF 1/29/2020
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 11,920.14$66
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 10,952.09$66
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$127
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$60 899.87$9
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 15,965.47$83
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$90
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 21,350.12$151
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 15,454.31$91
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 3,793.17$33
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$98
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 24,298.30$174
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 14,627.99$114
279,949.22$219,474.58$
DocuSign Envelope ID: 79C46309-0C0B-4263-8778-944D944AFE1D
CEE SERVICING
REPORT TYPE:PARTIAL AGING DELINQUENCY REPORT
REPORT DATE:1/29/2020
REPORT PERIOD:Jan-20
INVESTOR:ELK RIVER
AGING DELINQUENCY DETAIL PER ACCOUNT AS OF 1/29/2020
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 DATE LAST PMNT AMNT
19-015215 606 JEFFERSON LN NW 8/3/2015 11,920.14$0 -$-$-$-$-$-$-$Current Loan 1/21/2020 192.33$
19-015212 525 8TH ST NW 8/3/2015 10,952.09$0 -$-$-$-$-$-$-$Current Loan 1/27/2020 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 899.87$0 -$-$-$-$-$-$-$Current Loan 1/27/2020 100.41$
19-015207 1205 4TH ST NW 3/13/2016 20,749.37$303 1,749.75$-$175.67$175.67$351.34$968.05$79.02$300+ DPD 12/20/2019 200.00$
19-015204 1420 5TH ST NW 1/25/2017 15,965.47$0 -$-$-$-$-$-$-$Current Loan 1/20/2020 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 21,350.12$0 -$-$-$-$-$-$-$Current Loan 1/5/2020 200.00$
19-015209 609 GATES AVE NW 9/22/2017 15,454.31$0 -$-$-$-$-$-$-$Current Loan 1/10/2020 187.63$
19-015211 810 JACKSON AVE NW 10/31/2017 3,793.17$0 -$-$-$-$-$-$-$Current Loan 1/2/2020 115.24$
19-015217 1811 MAIN ST 5/4/2018 20,017.00$28 162.79$-$162.79$-$-$-$-$15+ DPD 12/30/2019 162.79$
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 24,298.30$0 -$-$-$-$-$-$-$Current Loan 1/5/2020 200.00$
19-016564 403 3RD ST NW 7/15/2019 14,627.99$0 -$-$-$-$-$-$-$Current Loan 1/15/2020 154.43$
219,474.58$1,912.54$-$338.46$175.67$351.34$968.05$79.02$
DocuSign Envelope ID: 79C46309-0C0B-4263-8778-944D944AFE1D
Electronic Record and Signature Disclosure
Certificate Of Completion
Envelope Id: 79C463090C0B42638778944D944AFE1D Status: Completed
Subject: PARTIAL-ELK-RIVER-LOAN-SERVICING-REPORT-JANUARY-2020.pdf
Source Envelope:
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mlandoni@mncee.org
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Amanda M Othoudt
AOthoudt@elkrivermn.gov
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