OHCS SF Bond Program Has 76% Decline in Loan Volume in 2009.

A comparison of Oregon Housing and Community Single Family bond loan production numbers from the Oregon Housing Council packet for the January 22nd meeting shows that the volume of loans is down 76% from 2008.

Here's a table showing 2007-2009 OHCS loan volume data

Year	Loans Purchased	$$ Loans Purchased	Avg Loan Amt
2009	381	$ 58,805,510	$ 154,345
2008	1,598	$ 281,802,764	$ 176,347
2007	1,381	$ 227,155,739	$ 164,486

• Loan volume dropped off big time later in the year, only 10 loans were purchased in December and only 4 in November.
  
• The average 2009 loan amount was about $10,000 less in 2009 than in 2007, and $22,000 less than in 2008.
  
• If OHCS revenue was $1,500 per loan, the decline of 1,217 loans from 2008-2009 meant a reduction in OHCS revenue of $1,825,500.
  
• Dollar volume of Oregon bond loans fell from $282 million in 2008 to $59 million in 2009 (a decline of 79%).
• The 3 county Portland metro area had 46% of all Oregon bond loans in 2009 vs. 43% in 2008.

I prepared a PDF file HERE that shows loan volume for 2008 and 2009 for all Oregon counties; the second page is an extract from the Council Packet and includes $$ volume data also.

Originally created and posted on the Oregon Housing Blog.