Friday, October 21, 2011

Oregon Hardest Hit Data Out for 3rd Quarter: Cumulative Approval Rate Very Low.

The 2nd Oregon Hardest Hit performance report has been posted to the OHSI website HERE. It covers the quarter from July 1-September 30th and includes cumulative data for the Mortgage Payment Assistance Program. 

I haven't had a chance to analyze it in depth, and I expect OHSI will have a press release out soon with more perspective, but the one piece of data that caught my eye was on page 5.  

The data on that page shows that through September 30th. there were:
  • A cumulative total of 18,735 unique applications
  • 17,460 of those applications had actions completed,
  • 3,846 applications had been approved,
  • Another 1,275 applications had actions still pending at the end of September, and
  • Of the 17,460 applications where action was completed, 13,614 were either withdraw or denied. That appears to mean that cumulatively 78% of applications where actions were completed [13,614/17,460] were withdrawn or denied and only 22% of completed actions to date [3,856 /17,460] were approvals.
Originally created and posted on the Oregon Housing Blog.

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