Hardest Hit Mortgage Payment Assistance Background, Including My Analysis of Eligible Submissions by County.

OHCS staff were kind enough to provide to me with materials used for a Hardest Hit update at a House Ways and Means Subcommittee meeting last week. 

I have put all the documents into a ZIP file that you can download HERE. (Documents include maps, background materials, a process flow, and a PowerPoint presentation).

I also completed a new analysis of one of the OHCS documents that shows the number of slots by county and the number of eligible submissions received by OHSI. I added some data showing the number of unemployed by county in September 2010 ; my analysis is found in the 2 page PDF HERE. 

Some observations: 

1. Because overall cost per household is less than original projections OHSI is now projecting that they will be able to help 5,787 households with the Mortgage Payment Assistance Program, 16% more than the 5,000 they originally projected. (Instead of initial cost projection of $20,000 per family appears that average cost per family is now projected at $17,280 [$100M/5,787 households]).
2. It appears there were 23 counties that were under subscribed [fewer eligible submissions than allocated slots] and 13 that were oversubscribed.
3. The two counties with the highest oversubscribed %'s [MORE eligible submissions than allocated slots] were Multnomah and Lane; the most under subscribed counties were Sherman and Grant.
4. The 5 Portland metro counties had 960 slots assigned to them, and 2,275 total eligible submissions, an over subscription count of 1,315 and a over subscription rate of 137%. 
5. HOWEVER, while these 5 Portland metro counties generated 39.3% of all MPA eligible submissions, they also had an even HIGHER % (47.8%) share of the total state unemployed in September 2010.
6. [ I recognize that applicants did NOT have to be unemployed to be eligible for the MPA program].

Feel free to add YOUR observations as comments to this post.

Originally created and posted on the Oregon Housing Blog.