Oregon Housing Council Meeting: Two Single Family Updates.

There were a variety of topics covered at the Friday Jan 21st. Housing Council meeting, but I am going to focus on single family items here. 

Single Family Bond Program: About 110 loan reservations have been made to date, using $15 million of bond proceeds, about half of funding available. If pace continues expect to see another bond sale in April-May. 

Hardest Hit Update

Mortgage Payment Assistance Program: 15,500 completed on line applications were received by deadline. Next step is completion of interviews which should be completed next week.  After that OHSI staff will then review the applications and coordinate with loan servicers.  

Once those addition steps are completed the expectation is that there will be 5,000-6,000 applicants who are determined to be fully qualified. Fund obligations for those households expected to begin in February. 

Refinance Pilot Program: This was program limited to Deschutes and Jackson county; OHSI completing a third iteration of program for submission to Treasury for review (and hoped for approval).

Originally created and posted on the Oregon Housing Blog.