7.1. HRSR 11-02-2020 �J
etyof
ElkRequest for Action
River
To Item Number
Housing and Redevelopment Authoritv 7.1
Agenda Section Meeting Date Prepared by
General Business November 2, 2020 Colleen Eddy, Economic Development Specialist
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 reported on the loan servicing area that all accounts are current. The past due homeowner,whose loan
modification was approved at the October 5,2020, HRA meeting,is back on track.
On the origination side, the phones and the applications have been very quiet this month; CEE did not receive
any new applications. From the two applications that were still under review last month, one was approved for
an MHFA loan (as the amount needed for the project was a little over $30,000.00 requiring a different loan);
the other application is still pending documentation.
Staff would like to have CEE present at the December 7, 2020, meeting to discuss the various programs they
offer and the HRA Rehab Loan Program,to see if any modifications would be of interest.
Financial Impact
N/A
Mission/Policy/Goal
The goal of the HRA is to improve existing housing stock by offering incentives or programs to repair and
maintain residential properties.
Attachments
■ CEE Monthly Loan Report
The Elk River Vision
A Y�elcoming community nvith revolutionary and spirited resourcefulness, exceptional P U W E H E o s r
service, and community engagement that encourages and inspires prosperity ,g /` UR
CEE SERVICING
REPORT TYPE:TRIAL BALANCE REPORT SUMMARY
REPORT DATE:10/27/2020
REPORT PERIOD: Oct-20
INVESTOR:ELK RIVER
TRIAL BALANCE PER POOL AS OF10/27/2020
POOL LOAN COUNT LOAN VOLUME UNPAID PRN BAL
HRA REHAB 12 230,304.22$163,802.85$
Grand Total 12 230,304.22$163,802.85$
TRIAL BALANCE SUMMARY PER LOAN AS OF 10/27/2020
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$10,369.75$
19-015212 HRA REHAB 525 8TH ST NW 8/3/2015 2.25 18,657.00$9,552.85$
19-015216 HRA REHAB 602 GATES AVE NW 9/3/2015 3.25 25,000.00$17,701.41$
19-015210 HRA REHAB 501 6TH ST 10/22/2015 1.25 5,837.00$101.14$
19-015207 HRA REHAB 1205 4TH ST NW 3/13/2016 4.00 25,000.00$21,109.20$
19-015204 HRA REHAB 1420 5TH ST NW 1/25/2017 2.50 22,069.00$14,379.51$
19-015209 HRA REHAB 609 GATES AVE NW 9/22/2017 2.75 19,665.00$14,072.02$
19-015211 HRA REHAB 810 JACKSON AVE NW 10/31/2017 2.25 6,534.00$2,812.72$
19-015217 HRA REHAB 1811 MAIN ST 5/4/2018 4.25 21,640.00$19,038.24$
19-015206 HRA REHAB 870 VERNON AVE 12/27/2018 4.00 25,000.00$17,788.17$
19-016434 HRA REHAB 19135 TROY STREET NW 7/5/2019 4.00 25,000.00$23,213.29$
19-016564 HRA REHAB 403 3RD ST NW 7/15/2019 4.00 15,252.22$13,664.55$
230,304.22$163,802.85$
6 MONTH COMPARATIVE REPORT
REPORTED MONTH LOAN COUNT UNPAID PRN BAL
May-20 14 191,982.29$
Jun-20 13 189,956.00$
Jul-20 13 188,203.91$
Aug-20 13 186,425.84$
Sep-20 13 164,458.19$
Oct-20 12 163,802.85$
CEE SERVICING
REPORT TYPE:TRIAL BALANCE REPORT DETAIL
REPORT DATE:10/27/2020
REPORT PERIOD:Oct-20
INVESTOR:ELK RIVER
ACCOUNT DETAIL FOR ACTIVE LOANS AS OF 10/27/2020
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 $10,369.75 57
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 $9,552.85 57
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 $17,701.41 118
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 $101.14 1
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 $21,109.20 148
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 $14,379.51 74
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 $14,072.02 82
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 $2,812.72 24
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 $19,038.24 150
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 $17,788.17 84
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 $23,213.29 164
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 $13,664.55 105
230,304.22$163,802.85$
CEE SERVICING
REPORT TYPE:AGING DELINQUENCY REPORT
REPORT DATE:10/27/2020
REPORT PERIOD:Oct-20
INVESTOR:ELK RIVER
AGING DELINQUENCY DETAIL PER ACCOUNT AS OF 10/27/2020
LOAN #BORROWER ADDRESS 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 10,369.75$0 -$-$-$-$-$-$-$Current Loan 10/8/2020 192.33$
19-015212 525 8TH ST NW 8/3/2015 9,552.85$0 -$-$-$-$-$-$-$Current Loan 10/14/2020 173.77$
19-015216 602 GATES AVE NW 9/3/2015 17,701.41$0 -$-$-$-$-$-$-$Current Loan 10/1/2020 180.00$
19-015210 501 6TH ST 10/22/2015 101.14$0 -$-$-$-$-$-$-$Current Loan 9/23/2020 -$
19-015207 1205 4TH ST NW 3/13/2016 21,109.20$0 -$-$-$-$-$-$-$Modified Loan 10/10/2020 375.67$
19-015204 1420 5TH ST NW 1/25/2017 14,379.51$0 -$-$-$-$-$-$-$Current Loan 10/20/2020 208.04$
19-015209 609 GATES AVE NW 9/22/2017 14,072.02$0 -$-$-$-$-$-$-$Current Loan 10/10/2020 187.63$
19-015211 810 JACKSON AVE NW 10/31/2017 2,812.72$0 -$-$-$-$-$-$-$Current Loan 10/2/2020 115.24$
19-015217 1811 MAIN ST 5/4/2018 19,038.24$0 -$-$-$-$-$-$-$Current Loan 10/10/2020 162.79$
19-015206 870 VERNON AVE 12/27/2018 17,788.17$0 -$-$-$-$-$-$-$Current Loan 10/27/2020 400.00$
19-016434 19135 TROY STREET NW 7/5/2019 23,213.29$0 -$-$-$-$-$-$-$Current Loan 10/5/2020 200.00$
19-016564 403 3RD ST NW 7/15/2019 13,664.55$0 -$-$-$-$-$-$-$Current Loan 10/15/2020 154.43$
163,802.85$-$-$-$-$-$-$-$