Monday, June 30, 2014

Updated: OHCS FHA MF Risk Sharing Project Occupancy Status, Loan Details, Dec 2013.

Update: 
I added a worksheet that ranks these projects by debt service per unit. (I added a 1/2 of 1% FHA premium to the loan rate shown in the original table). 

Using a filter you can see for example that the DS per unit per month for properties in the city of Portland properties ranges from $144 per unit for Westshore up to $432 for 5th Avenue apartments.  Differences may be attributable to time, type of construction, incomes of population served, LIHTC received, and subsidy coming from other sources.
----
I rarely use EMMA to look up any information on municipal bonds but I recently did spend a little time exploring what kinds of information are available on housing related bonds in Oregon. 

If I knew I had long forgotten that occupancy rate information appears to be included in bond financed annual disclosures for housing.   

Given recent interest in FHA risk sharing program (prior post HERE), I went in and dug out what appears to be the most recent OHCS annual disclosure for their 3,870 FHA risk sharing units. (Full disclosure: the data includes first Oregon FHA risk sharing project, Westshore Apartments in downtown Portland, that was approved when I was Oregon FHA MF Director in 1998).

In origination date sort order, project information is in Excel spreadsheet HERE and embedded below. I added conditional formatting to highlight any project where occupancy rate was below 95%.  (Occupancy rates are as of Nov 2013, rest of data is Dec 2013). 


Originally created and posted on the Oregon Housing Blog.

No comments:

Post a Comment