The OCHS submitted form HERE asks for $300 Million in authority for the New Issue Bond Program. The request includes $250 million for SF bonds and $50 Million for MF bonds. The form indicates that the SF program will use FHA and RD programs and the MF program will use the FHA risk sharing program. (OHCS did not ask to participate in the second program, the Temporary Credit and Liquidity Program).
At $200,000 per loan (may be a bit high) the $250 million SF request would support 1,250 SF loans. (If amount per loan is less, number of loans increases, duh).
Some other information culled from the participation request form
CY OHCS Bond History, 5 Years 2004-2008: $2.5 Billion
| CY | Total | SF | MF |
| CY 2004-2008 | $ 2,518,702,471 | $2,231 | $ 288 |
| Total CY 2008 | $ 351,468,754 | $ 334 | $ 17 |
| Total CY 2007 | $ 390,108,296 | $ 291 | $ 99 |
| Total CY 2006 | $ 641,500,000 | $ 620 | $ 22 |
| Total CY 2005 | $ 242,973,921 | $ 168 | $ 75 |
| Total CY 2004 | $ 892,651,500 | $ 818 | $ 75 |
PAB Allocation Available --$821 MILLION:
| TOTAL PAB Allocation Currently Available | $ 821,904,625 |
| 2006 PAB Carry Forward (expires 12/31/09) | $ 119,659,210 |
| 2007 PAB Carry Forward (expires 12/31/10) | $ 190,070,398 |
| 2008 PAB Carry Forward (expires 12/31/11) | $ 269,833,675 |
| 2008 PAB Carry Forward (expires 12/31/10) | $ 117,341,342 |
| 2009 PAB -Current Year (reverts 12/31/09) | $ 125,000,000 |
(With $300M request, this would apparently still leave $521 Million in unused bond authority allocated to OHCS).
I am sure there are lots of additional steps to be taken before any program becomes available in Oregon or elsewhere. As further information develops I expect OHCS will share it.
Originally created and posted on the Oregon Housing Blog.
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