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7.4. HRSR 05-03-2021 �J etyof ElkRequest for Action River To Item Number Housing and Redevelopment Authoritv 7.4 Agenda Section Meeting Date Prepared by General Business May 3, 2021 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 reports all accounts are current. On the Originations side, there were three active applications at the end of last month; one was declined due to credit problems (low score and past due mortgage payments), one was withdrawn (the borrower decided not to do the improvements until next year), and the third one is still under review. One new application was received; however, they are requesting over the$25,000 threshold. 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—March 2021 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 CITY OF ELK RIVER LOAN SERVICING REPORT OPERATIONAL RESULTS MARCH 2021 APRIL 1st, 2021 LOAN SERVICING DEPARTMENT DocuSign Envelope ID: DA739982-2DD5-4C30-B333-2E59639EA2E6 Pg. 2 Table of Contents •Loan Servicing Dashboard•Invoice Report•Trial Balance Summary•Trial Balance Detail•Paid in Full Report•Aging Delinquency Report DocuSign Envelope ID: DA739982-2DD5-4C30-B333-2E59639EA2E6 CEE SERVICING REPORT TYPE:LOAN SERVICING DASHBOARD REPORT DATE:4/1/2021 REPORT PERIOD:Mar-21 INVESTOR:CITY OF ELK RIVER CASH PROCESSING RESULTS FOR MARCH 2021 OPERATIONAL RESULTS FOR MARCH 2021 12 12 11 11 11 11 5 6 7 8 9 10 11 12 13 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 6 MONTH LOAN COUNT COMPARISON $137,414.91 $156,533.57 $158,469.56 $160,158.13 $162,014.82 $163,666.98 $120,000.00 $125,000.00 $130,000.00 $135,000.00 $140,000.00 $145,000.00 $150,000.00 $155,000.00 $160,000.00 $165,000.00 $170,000.00 Mar-21Feb-21Jan-21Dec-20Nov-20Oct-20 UNPAID PRINCIPAL BALANCE 6 MONTH COMPARISON $- $2,260.50 $8,603.34 $9,502.18 $13,114.97 $13,290.48 $13,484.40 $16,075.37 $18,555.73 $19,937.07 $22,590.87 $- $5,000.00 $10,000.00 $15,000.00 $20,000.00 $25,000.00 19-015216 19-015211 19-015212 19-015215 19-016564 19-015209 19-015204 19-015206 19-015217 19-015207 19-016434 MARCH-2021 UNPAID PRINCIPAL BALANCE DISTRIBUTION PER LOAN $115.24 $154.43 $162.79 $173.77 $175.67 $187.63 $192.33 $200.00 $208.04 $800.00 $17,223.55 $0.00 $2,000.00 $4,000.00 $6,000.00 $8,000.00 $10,000.00 $12,000.00 $14,000.00 $16,000.00 $18,000.00 $20,000.00 19-015211 19-016564 19-015217 19-015212 19-015207 19-015209 19-015215 19-016434 19-015204 19-015206 19-015216 TOTAL AMOUNT COLLECTED DURING MARCH 2021 $101.96 $111.15 $113.84 $124.68 $130.28 $152.73 $159.26 $175.63 $181.84 $692.64 $17,174.65 $0.00 $2,000.00 $4,000.00 $6,000.00 $8,000.00 $10,000.00 $12,000.00 $14,000.00 $16,000.00 $18,000.00 $20,000.00 19-015217 19-015211 19-016564 19-015207 19-016434 19-015212 19-015209 19-015215 19-015204 19-015206 19-015216 TOTAL PRINCIPAL COLLECTED DURING MARCH 2021 $4.09 $16.70 $21.04 $26.20 $28.37 $40.59 $48.89 $50.99 $60.83 $69.72 $107.36 $0.00 $20.00 $40.00 $60.00 $80.00 $100.00 $120.00 19-015211 19-015215 19-015212 19-015204 19-015209 19-016564 19-015216 19-015207 19-015217 19-016434 19-015206 TOTAL INTEREST COLLECTED DURING MARCH 2021 DocuSign Envelope ID: DA739982-2DD5-4C30-B333-2E59639EA2E6 CEE SERVICING REPORT TYPE:INVOICE REPORT REPORT DATE:4/1/2021 REPORT PERIOD:Mar-21 INVESTOR:ELK RIVER 212 3rd Avenue North, Suite 560 Minneapolis, MN 55401 REPORTING MONTH: MARCH 2021 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 LN INDEXSum of TRNX INDEX Sum of DELINQ INDEXSum of PMNT AMOUNTSum of PRN COLLECTEDSum of INT COLLECTED HRA REHAB 11 0 0 0 $19,593.45 $19,118.66 $474.78 $0.00 $0.00 $66.00 $0.00 66.00$19,527.45$ Grand Total 11 0 0 0 $19,593.45 $19,118.66 $474.78 $0.00 $0.00 $66.00 $0.00 66.00$19,527.45$ 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 8/3/2015 $20,650.00 3/9/2021 $192.33 $175.63 $16.70 0 0 0 ELK RIVER RESIDENTIAL HRA REHAB 19-015212 525 8TH ST NW 8/3/2015 $18,657.00 3/29/2021 $173.77 $152.73 $21.04 0 0 0 ELK RIVER RESIDENTIAL HRA REHAB 19-015216 602 GATES AVE NW 9/3/2015 $25,000.00 3/4/2021 $17,223.55 $17,174.65 $48.89 0 0 0 ELK RIVER RESIDENTIAL HRA REHAB 19-015207 1205 4TH ST NW 3/13/2016 $25,000.00 3/10/2021 $175.67 $124.68 $50.99 0 0 0 ELK RIVER RESIDENTIAL HRA REHAB 19-015204 1420 5TH ST NW 1/25/2017 $22,069.00 3/20/2021 $208.04 $181.84 $26.20 0 0 0 ELK RIVER RESIDENTIAL HRA REHAB 19-015209 609 GATES AVE NW 9/22/2017 $19,665.00 3/10/2021 $187.63 $159.26 $28.37 0 0 0 ELK RIVER RESIDENTIAL HRA REHAB 19-015211 810 JACKSON AVE NW 10/31/2017 $6,534.00 3/1/2021 $115.24 $111.15 $4.09 0 0 0 ELK RIVER RESIDENTIAL HRA REHAB 19-015217 1811 MAIN ST 5/4/2018 $21,640.00 3/10/2021 $162.79 $101.96 $60.83 0 0 0 ELK RIVER RESIDENTIAL HRA REHAB 19-015206 870 VERNON AVE 12/27/2018 $25,000.00 3/10/2021 $800.00 $692.64 $107.36 0 0 0 ELK RIVER RESIDENTIAL HRA REHAB 19-016434 19135 TROY STREET NW 7/5/2019 $25,000.00 3/4/2021 $200.00 $130.28 $69.72 0 0 0 ELK RIVER RESIDENTIAL HRA REHAB 19-016564 403 3RD ST NW 7/15/2019 $15,252.22 3/15/2021 $154.43 $113.84 $40.59 0 0 0 19,593.45$19,118.66$474.78$ DocuSign Envelope ID: DA739982-2DD5-4C30-B333-2E59639EA2E6 CEE SERVICING REPORT TYPE:TRIAL BALANCE REPORT SUMMARY REPORT DATE:4/1/2021 REPORT PERIOD:Mar-21 INVESTOR:ELK RIVER TRIAL BALANCE PER POOL AS OF 3/31/2021 POOL LOAN COUNT LOAN VOLUME UNPAID PRN BAL HRA REHAB 11 224,467.22$137,414.91$ Grand Total 11 224,467.22$137,414.91$ TRIAL BALANCE SUMMARY PER LOAN AS OF 3/31/2021 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 $9,502.18 19-015212 HRA REHAB 525 8TH ST NW 8/3/2015 2.25 $18,657.00 $8,603.34 19-015216 HRA REHAB 602 GATES AVE NW 9/3/2015 3.25 $25,000.00 $0.00 19-015207 HRA REHAB 1205 4TH ST NW 3/13/2016 4.00 $25,000.00 $19,937.07 19-015204 HRA REHAB 1420 5TH ST NW 1/25/2017 2.50 $22,069.00 $13,484.40 19-015209 HRA REHAB 609 GATES AVE NW 9/22/2017 2.75 $19,665.00 $13,290.48 19-015211 HRA REHAB 810 JACKSON AVE NW 10/31/2017 2.25 $6,534.00 $2,260.50 19-015217 HRA REHAB 1811 MAIN ST 5/4/2018 4.25 $21,640.00 $18,555.73 19-015206 HRA REHAB 870 VERNON AVE 12/27/2018 4.00 $25,000.00 $16,075.37 19-016434 HRA REHAB 19135 TROY STREET NW 7/5/2019 4.00 $25,000.00 $22,590.87 19-016564 HRA REHAB 403 3RD ST NW 7/15/2019 4.00 $15,252.22 $13,114.97 224,467.22$137,414.91$ 6 MONTH COMPARATIVE REPORT REPORTED MONTH LOAN COUNT UNPAID PRN BAL Oct-20 12 163,666.98$ Nov-20 12 162,014.82$ Dec-20 11 160,158.13$ Jan-21 11 158,469.56$ Feb-21 11 156,533.57$ Mar-21 11 137,414.91$ DocuSign Envelope ID: DA739982-2DD5-4C30-B333-2E59639EA2E6 CEE SERVICING REPORT TYPE:TRIAL BALANCE REPORT DETAIL REPORT DATE:4/1/2021 REPORT PERIOD:Mar-21 INVESTOR:ELK RIVER ACCOUNT DETAIL FOR ACTIVE LOANS AS OF 3/31/2021 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 $9,502.18 53 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 $8,603.34 53 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 $0.00 0 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 $19,937.07 136 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 $13,484.40 70 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 $13,290.48 78 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 $2,260.50 20 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 $18,555.73 146 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 $16,075.37 73 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 $22,590.87 158 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 $13,114.97 100 224,467.22$137,414.91$ DocuSign Envelope ID: DA739982-2DD5-4C30-B333-2E59639EA2E6 CEE SERVICING REPORT TYPE:PAID IN FULL REPORT REPORT DATE:4/1/2021 REPORT PERIOD:Mar-21 INVESTOR:ELK RIVER DETAIL OF LOANS PAID IN FULL PER POOL AS OF 3/31/2021 LOAN #PORTFOLIO POOL ADDRESS PAYOFF DATE CLOSED DATE AMOUNT RECEIVED PRINCIPAL RECEIVED INTEREST RECEIVED FEES RECEIVED 19-015216 ELK RIVER RESIDENTIAL HRA REHAB 602 GATES AVE NW 3/5/2021 3/5/2021 $17,223.55 $17,174.65 $48.89 $0.00 $17,223.55 $17,174.65 $48.89 $0.00 DocuSign Envelope ID: DA739982-2DD5-4C30-B333-2E59639EA2E6 CEE SERVICING REPORT TYPE:AGING DELINQUENCY REPORT REPORT DATE:4/1/2021 REPORT PERIOD:Mar-21 INVESTOR:ELK RIVER AGING DELINQUENCY DETAIL PER ACCOUNT AS OF 3/31/2021 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 $9,502.18 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT 3/9/2021 $192.33 19-015212 525 8TH ST NW 8/3/2015 $8,603.34 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT 3/29/2021 $173.77 19-015216 602 GATES AVE NW 9/3/2015 $0.00 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT 3/4/2021 $17,223.55 19-015207 1205 4TH ST NW 3/13/2016 $19,937.07 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT 3/10/2021 $175.67 19-015204 1420 5TH ST NW 1/25/2017 $13,484.40 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT 3/20/2021 $208.04 19-015209 609 GATES AVE NW 9/22/2017 $13,290.48 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT 3/10/2021 $187.63 19-015211 810 JACKSON AVE NW 10/31/2017 $2,260.50 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT 3/1/2021 $115.24 19-015217 1811 MAIN ST 5/4/2018 $18,555.73 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT 3/10/2021 $162.79 19-015206 870 VERNON AVE 12/27/2018 $16,075.37 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT 3/10/2021 $800.00 19-016434 19135 TROY STREET NW 7/5/2019 $22,590.87 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT 3/4/2021 $200.00 19-016564 403 3RD ST NW 7/15/2019 $13,114.97 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT 3/15/2021 $154.43 $137,414.91 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 DocuSign Envelope ID: DA739982-2DD5-4C30-B333-2E59639EA2E6 Electronic Record and Signature Disclosure Certificate Of Completion Envelope Id: DA7399822DD54C30B3332E59639EA2E6 Status: Completed Subject: Loan Servicing Report for the month of March 2021 Source Envelope: Document Pages: 16 Signatures: 0 Envelope Originator: Certificate Pages: 5 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: 68.46.16.203 Record Tracking Status: Original 4/14/2021 4:13:21 PM 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 Collen Eddy CEddy@elkrivermn.gov Security Level: Email, Account Authentication (None), Access Code Using IP Address: 156.99.27.161 Sent: 4/14/2021 4:19:51 PM Viewed: 4/15/2021 8:12:03 AM Electronic Record and Signature Disclosure: Accepted: 4/15/2021 8:12:03 AM ID: 4562e1aa-6abf-4aea-8ae2-d85c45e46850 Carbon Copy Events Status Timestamp Finance Department Elk River, MN Finance@elkrivermn.gov Security Level: Email, Account Authentication (None) Sent: 4/14/2021 4:19:51 PM Electronic Record and Signature Disclosure: Accepted: 7/3/2019 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