7.2. HRSR 01-03-2022 �J
etyof
ElkRequest for Action
River
To Item Number
Housing and Redevelopment Authoritv 7.2
Agenda Section Meeting Date Prepared by
General Business January 3, 2022 Brent O'Neil, Economic Development 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 reports all accounts are current and the HRA's portfolio is performing as expected with no delinquencies
or late payments. Under 2022 program guidelines, $150,000 is available for new loan disbursements during the
program year.
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 Activity 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
CITY OF ELK RIVER
LOAN SERVICING REPORT
OPERATIONAL RESULTS
NOVEMBER 2021
DATA SET: DECEMBER 1st, 2021
LOAN SERVICING DEPARTMENT
DocuSign Envelope ID: A8BEF414-338F-4174-9C73-E3E8359E3332
Pg. 2
Table of Contents
•Loan Servicing Dashboard•Invoice Report•Trial Balance Summary•Trial Balance Detail•Aging Delinquency Report
DocuSign Envelope ID: A8BEF414-338F-4174-9C73-E3E8359E3332
CEE SERVICING
REPORT TYPE:LOAN SERVICING DASHBOARD
DATA SET DATE:12/1/2021
REPORTING PERIOD:Nov-21
INVESTOR:CITY OF ELK RIVER
CASH PROCESSING RESULTS AS OF NOVEMBER 30, 2021
OPERATIONAL RESULTS AS OF NOVEMBER 30, 2021
8
7 7 7 7
6
5
6
6
7
7
8
8
9
Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21
6 MONTH LOAN COUNT COMPARISON
$75,426.65$76,510.48$99,440.17$100,641.20$101,837.78$103,044.71Nov-21Oct-21Sep-21Aug-21Jul-21Jun-21
UNPAID PRINCIPAL BALANCE 6 MONTH COMPARISON
$8,097.88
$12,024.57
$12,035.75
$12,221.20
$13,274.22
$17,773.03
$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
19-015215
19-015209
19-015204
19-016564
19-015206
19-015217
NOVEMBER-2021 UNPAID PRINCIPAL BALANCE
DISTRIBUTION PER LOAN
$154.43
$162.79
$187.63
$192.33
$208.04
$400.00
$0.00 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00
19-016564
19-015217
19-015209
19-015215
19-015204
19-015206
TOTAL AMOUNT COLLECTED AS NOVEMBER 30, 2021
$98.28
$112.53
$159.18
$178.04
$182.10
$353.70
$0.00 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00
19-015217
19-016564
19-015209
19-015215
19-015204
19-015206
TOTAL PRINCIPAL COLLECTED AS OF NOVEMBER 30, 2021
$14.29
$25.94
$28.45
$41.90
$46.30
$64.51
$0.00 $10.00 $20.00 $30.00 $40.00 $50.00 $60.00 $70.00
19-015215
19-015204
19-015209
19-016564
19-015206
19-015217
TOTAL INTEREST COLLECTED AS OF NOVEMBER 30, 2021
DocuSign Envelope ID: A8BEF414-338F-4174-9C73-E3E8359E3332
CEE SERVICING
REPORT TYPE:PRELIMINARY INVOICE REPORT
DATA SET DATE:12/1/2021
REPORTING PERIOD:Nov-21
INVESTOR:ELK RIVER 212 3rd Avenue North, Suite 560
INVOICE #:8202111 Minneapolis, MN 55401
REPORTING MONTH: NOVEMBER 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 6 0 0 0 $1,305.22 $1,083.83 $221.39 $0.00 $0.00 $36.00 $0.00 $36.00 $1,269.22
Grand Total 6 0 0 0 $1,305.22 $1,083.83 $221.39 $0.00 $0.00 $36.00 $0.00 $36.00 $1,269.22
SATISFACTION DRAFTING FOR LOAN # 19-016434 PAID IN FULL ON 10/18/2021 -$30.00
FINAL AMOUNT TO TRANSFER TO THE CITY $1,239.22
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 11/9/2021 $192.33 $178.04 $14.29 0 0 0
ELK RIVER RESIDENTIAL HRA REHAB 19-015204 1420 5TH ST NW 1/25/2017 $22,069.00 11/20/2021 $208.04 $182.10 $25.94 0 0 0
ELK RIVER RESIDENTIAL HRA REHAB 19-015209 609 GATES AVE NW 9/22/2017 $19,665.00 11/10/2021 $187.63 $159.18 $28.45 0 0 0
ELK RIVER RESIDENTIAL HRA REHAB 19-015217 1811 MAIN ST 5/4/2018 $21,640.00 11/10/2021 $162.79 $98.28 $64.51 0 0 0
ELK RIVER RESIDENTIAL HRA REHAB 19-015206 870 VERNON AVE 12/27/2018 $25,000.00 11/29/2021 $400.00 $353.70 $46.30 0 0 0
ELK RIVER RESIDENTIAL HRA REHAB 19-016564 403 3RD ST NW 7/15/2019 $15,252.22 11/15/2021 $154.43 $112.53 $41.90 0 0 0
$1,305.22 $1,083.83 $221.39
DocuSign Envelope ID: A8BEF414-338F-4174-9C73-E3E8359E3332
CEE SERVICING
REPORT TYPE:TRIAL BALANCE REPORT SUMMARY
DATA SET DATE:12/1/2021
REPORTING PERIOD:Nov-21
INVESTOR:ELK RIVER
TRIAL BALANCE PER POOL AS OF 11/31/2021
POOL LOAN COUNT LOAN VOLUME UNPAID PRN BAL
HRA REHAB 6 124,276.22$75,426.65$
Grand Total 6 124,276.22$75,426.65$
TRIAL BALANCE SUMMARY PER LOAN AS OF 11/31/2021
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 $8,097.88
19-015204 HRA REHAB 1420 5TH ST NW 1/25/2017 2.50 $22,069.00 $12,035.75
19-015209 HRA REHAB 609 GATES AVE NW 9/22/2017 2.75 $19,665.00 $12,024.57
19-015217 HRA REHAB 1811 MAIN ST 5/4/2018 4.25 $21,640.00 $17,773.03
19-015206 HRA REHAB 870 VERNON AVE 12/27/2018 4.00 $25,000.00 $13,274.22
19-016564 HRA REHAB 403 3RD ST NW 7/15/2019 4.00 $15,252.22 $12,221.20
124,276.22$75,426.65$
6 MONTH COMPARATIVE REPORT
REPORTED MONTH LOAN COUNT UNPAID PRN BAL
Jun-21 8 103,044.71$
Jul-21 7 101,837.78$
Aug-21 7 100,641.20$
Sep-21 7 99,440.17$
Oct-21 7 76,510.48$
Nov-21 6 75,426.65$
DocuSign Envelope ID: A8BEF414-338F-4174-9C73-E3E8359E3332
CEE SERVICING
REPORT TYPE:TRIAL BALANCE REPORT DETAIL
DATA SET DATE:12/1/2021
REPORTING PERIOD:Nov-21
INVESTOR:ELK RIVER
ACCOUNT DETAIL FOR ACTIVE LOANS AS OF 11/30/2021
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 $8,097.88 44
19-015204 ELK RIVER RESIDENTIAL HRA REHAB 1420 5TH ST NW ELK RIVER MN 55333 2.50 1/25/2017 1/1/2027 $22,069.00 120 $12,035.75 61
19-015209 ELK RIVER RESIDENTIAL HRA REHAB 609 GATES AVE NW ELK RIVER MN 55334 2.75 9/22/2017 9/1/2027 $19,665.00 120 $12,024.57 69
19-015217 ELK RIVER RESIDENTIAL HRA REHAB 1811 MAIN ST ELK RIVER MN 55336 4.25 5/4/2018 5/1/2033 $21,640.00 180 $17,773.03 137
19-015206 ELK RIVER RESIDENTIAL HRA REHAB 870 VERNON AVE ELK RIVER MN 55337 4.00 12/27/2018 1/1/2029 $25,000.00 120 $13,274.22 59
19-016564 ELK RIVER RESIDENTIAL HRA REHAB 403 3RD ST NW ELK RIVER MN 55339 4.00 7/15/2019 7/15/2029 $15,252.22 120 $12,221.20 92
124,276.22$75,426.65$
DocuSign Envelope ID: A8BEF414-338F-4174-9C73-E3E8359E3332
CEE SERVICING
REPORT TYPE:AGING DELINQUENCY REPORT
DATA SET DATE:12/1/2021
REPORTING PERIOD:Nov-21
INVESTOR:ELK RIVER
AGING DELINQUENCY DETAIL PER ACCOUNT AS OF 11/30/2021
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 $8,097.88 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT 11/9/2021 $192.33
19-015204 1420 5TH ST NW 1/25/2017 $12,035.75 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT 11/20/2021 $208.04
19-015209 609 GATES AVE NW 9/22/2017 $12,024.57 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT 11/10/2021 $187.63
19-015217 1811 MAIN ST 5/4/2018 $17,773.03 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT 11/10/2021 $162.79
19-015206 870 VERNON AVE 12/27/2018 $13,274.22 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT 11/29/2021 $400.00
19-016564 403 3RD ST NW 7/15/2019 $12,221.20 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT 11/15/2021 $154.43
$75,426.65 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 1,305.22$
DocuSign Envelope ID: A8BEF414-338F-4174-9C73-E3E8359E3332