Oregon Housing Council Packets Updated to Include Friday Meeting.

I have added the July, August, and September meeting packets for the Oregon Housing Council in the Oregon Housing Council Materials link in the right pane of the blog. 

The next meeting of the Council is this Friday September 6. 

Originally created and posted on the Oregon Housing Blog.

Oregon Housing Council Packet for Friday Meeting Added.

Link is in right pane, Oregon Housing Council Materials.

Originally created and posted on the Oregon Housing Blog.

Oregon Housing Council Friday Sept 7 Teleconference Meeting Package Updated, Includes 3 Exhibits from August Meeting.

The upcoming Friday Oregon Housing Council meeting is a telephone conference meeting. I have updated the link in right pane, Oregon Housing Council Materials, to include the Board packet for this meeting as well as the packet for the August meeting that I missed. 

In addition OHCS staff were good enough to send me 3 presentations made at the August meeting. Those presentations are bookmarked and start at page 32 of the current packet. Presentations included an update to the SF program, an OHCS program review, and a status report on the Hardest Hit /OHSI programs. 

Originally created and posted on the Oregon Housing Blog. 

Oregon Housing Council Package for Friday Uploaded.

Link HERE in right pane , Oregon Housing Council Materials, has been updated with materials for Friday July 13th meeting. Because of CFC recommendations package for this meeting is longer than usual at 108 pages.

Originally created and posted on the Oregon Housing Blog.

Updated: New Moody's Report on HFA Delinquencies Includes Oregon Data/OHCS Serious Delinquency Rate is Less than Other Loan Types.

Update:

• I added an observation comparing the OHCS serious delinquency rate with the Oregon serious delinquency rate for all loans from MBA for Dec 2011.
• I added an observation that the OHCS Dec 2011 serious delinquency rate was the 10th best of 30 rated state HFA's with SF whole loan programs.
• I added a second worksheet in the workbook showing counts of loans by state HFA's for Dec. 2011, including loans in default, total loans, and serious deliquency rates.

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Report is HERE; story from NCSHA is HERE.

Oregon data is found on several pages of the report. 

My observations about reported OHCS SF delinquency and foreclosure rates 2005-2011: 

1. The  serious delinquency rate using the MBA definition (90+ day defaults PLUS foreclosures) as of 12/2005 was 2.71% and as of 12/2011 it was 4.29%, an increase of 58%.
2. There were 331 loans in the serious delinquency category as of 12/2011 and 184 as of 12/2005, an increase of 147 loans.
3. The OHCS SF serious delinquency rate of 4.29% as of 12/2011 was  substantially lower than the rate for all loan types in Oregon metro areas except Corvallis (2.4% ). Other Oregon metro serious delinquency rates for all loans were Bend 9.9%; Eugene 6.7%; Medford 9.1%; Portland 7.6%; and Salem 8.5%. (The Foreclosure Response default and foreclosure data for 12/2011 for all metro areas can be found in an Excel workbook HERE).
4. I calculate that the Idaho HFA had a 12/2011 serious delinquency rate of 7.41% (Idaho had 594 90+day delinquencies PLUS foreclosures out of a universe of 8,020 loans). That Idaho HFA rate is 73% HIGHER than the OHCS 12/2011 4.29% SF serious delinquency rate.
5. The total inventory of OHCS loans increased by 925 loans (14%) from 12/2005 to 12/2011, from 6,787 loans to 7,712 loans. 
6. Update: The MBA reported serious delinquency for Oregon for all loan types as of 12/11 was 5.89%, 37% higher than the OHCS serious delinquency rate of 4.29%.
7. Update: Oregon had the 10th lowest serious delinquency rate among 30 state housing finance agencies with whole loan programs as of 12/11. State data and rankings are found on the second worksheet that I have added to the embedded SkyDrive Excel file.

Upcoming Housing Council Briefing on SF; My Prior Posts
My memory is that the agenda for the July 13 Housing Council meeting is scheduled to include an update on the OHCS SF program; readers may recall that at a prior Council meeting there was a detailed single family briefing that I summarized in posts HERE and HERE.

I have embedded a SkyDrive Excel file below with OHCS loan data from 2005-2011 below; a direct link is HERE. 

Originally created and posted on the Oregon Housing Blog.

Three Nominated to Oregon State Housing Council.

Governor's PR for Commission appointments is HERE.

State Housing Council nominees, to be acted upon by Senate Rules Committee next week, are:

Mayra Arreola, Portland
Aubre Dickson, Portland
Zee Koza, La Grande 

(Aubre is a fellow Board member for the Housing Development Center; congrats to all for their nominations).

Originally created and posted on the Oregon Housing Blog.

Housing Council Meeting Packet Updated with Friday May 4th Materials.

In right pane, the Oregon Housing Council Materials link has been updated with Friday May 4th meeting information.

Originally created and posted on the Oregon Housing Blog.

Oregon Housing Council Meeting Packet Updated for Friday Meeting, Including Joint CAPO Meeting.

In right pane, Oregon Housing Council Materials link has been updated with Friday April 6th meeting materials. This meeting includes annual joint meeting with CAPO (Community Action Partnership of Oregon).

Originally created and posted on the Oregon Housing Blog.

Oregon Housing Council Materials Posted for Next Friday Feb. 3rd Meeting.

See link in right pane under " Oregon Housing Council Materials". 

Notable agenda items for this meeting: 

NEW BUSINESS
A. Vida Lea Mobile Home Park (Leaburg, OR),
Manufactured Dwelling Park Preservation (MDPP) Grant Request
B. Hyak (Seaside, OR), Predevelopment Loan Request

SPECIAL REPORTS
A. Preserving Manufactured Home Parks Through Pegge McGuire
Resident Ownership, Presented by Theresa Wingard,
Program Coordinator, Manufactured Communities
Resource Center; and Peter Hainley, Executive Director,
CASA of Oregon

DISCUSSION ITEM
A. Community Engagement
Karen Tolvstad

Originally created and posted on the Oregon Housing Blog.

Friday Jan 6th Oregon Housing Council Materials Posted, Including Proposed Qualified Allocation Plan Changes.

I have updated the Oregon Housing Council Materials link in the right pane and HERE to switch to CY 2012 materials starting with the meeting on Friday January 6th.  

The agenda for that meeting includes discussion about proposed revisions to the Qualified Allocation Plan used for Low Income Housing Tax Credits.

If you want to reference back to all CY 2011 Oregon Housing Council materials use the link HERE.

Originally created and posted on the Oregon Housing Blog.

Oregon Housing Council Meeting Package for Friday December 2 is Posted.

I have added the December 2nd Oregon Housing Council meeting package to the Oregon Housing Council Materials link in the right pane; this now completes the Oregon Housing Council meeting packages for CY 2011. (You can find meeting packages or minutes for Oregon Housing Council meetings for CY 2008-2010 HERE). 

December 2nd agenda includes update on OHSI programs, NSP program and a pre development loan request for a Salem project.  Also, during public comment period I plan to provide a brief update of progress made on items I discussed at September Council meeting.

This will be the first non telephone Council meeting with new Director Margaret Van Vliet.

Originally created and posted on the Oregon Housing Blog.

Oregon Housing Council Monday Sept 19 Meeting Packet Added.

In right pane, in links section, look for "Oregon Housing Council Materials".

Originally created and posted on the Oregon Housing Blog.

Friday August 19th Oregon Housing Council Packet, with CFC Recommendations/Summary.

I have added the 141 page packet for the Friday August 19th meeting of the Oregon Housing Council to the Oregon Housing Council Materials LINK in the right pane of the blog. The CFC related summary and individual project recommendations begin on page 25. 

Note that this meeting is not in OHCS building but instead:

Broadway Commons
1300 Broadway Street NE
Mexico Room #304
Salem, OR 97301

Map

Note: It may not be apparent to all, but I download the scanned monthly OHC packet posted to the web and convert it with OCR software to make the text searchable. I then combine the monthly materials with materials from prior months into a single file; so far this year the OHC materials exceed 300 pages. This process allows a user to find all CY 2011 OHC references to a particular project, program, or location by using the Acrobat search function in one file.

Originally created and posted on the Oregon Housing Blog.

Oregon Housing Council Has Two Vacancies Plus One New Nominated PHA Member.

At the Housing Council meeting last Friday Acting OHCS Director Rick Crager announced that with resignation of Nancy McLaughlin there were three Oregon Housing Council vacancies for positions held previously by Maggie LaMont, Francisco Lopez, and Nancy. 

Rick announced that the Governor's Office has approved a nominee for one of those slots, Val Valfre, the Housing Authority Director for Washington County. 

Val will be replacing Maggie LaMont, the NE Oregon Housing Authority Director, who is serving on a temporary extension until September, when Val's nomination is expected to be acted upon by the Oregon Senate.

I am pleased to hear that Val, a long time colleague, has been nominated to the Housing Council and I appreciate very much the long service of Maggie as a representative of PHA's on the Council and as Council President. 

It has not yet been decided how the President of the Housing Council will be determined.  

The Governor's website for Executive Appointments is HERE and I hope a concerted effort is made to recruit skilled replacements for the two remaining vacancies, including recruitment of minorities and women.  

Originally created and posted on the Oregon Housing Blog.

Oregon Housing Council Package for Friday July 15 Meeting Updated.

Meeting is in Salem at 9 AM.

Oregon Housing Council Materials in right pane has been updated to include July meeting materials.

Originally created and posted on the Oregon Housing Blog.

Address Correction:Oregon Housing Council Meeting Friday June 17th at Portland's New Columbia Opportunity Center.

Adress correction: 
OHCS advises that address in agenda is wrong. It should read 4625 Trenton Street, address and map link has been changed below.
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Meeting starts at 9 AM; location is New Columbia Opportunity Center, 4625 N. Trenton Street. The "Oregon Housing Council Materials" link in right pane has been updated to include materials for this meeting.

Originally created and posted on the Oregon Housing Blog.

Oregon Housing Council Friday April 15 Meeting Packet Added.

The meeting package for the Friday April 15 Salem meeting of the Oregon Housing Council has been added to the CY 2011 Oregon Housing Council Materials link in the right pane.

Originally created and posted on the Oregon Housing Blog.

Oregon Housing Council Telephone Meet March 31: Up to $25 Million Revenue Bond for South Waterfront Project With 42 Units Set Aside for Homeless Veterans.

The Oregon Housing Council is holding a telephone conference call meeting on Thursday March 31st., at 10 AM (telephone number from agenda is 503.986.2005).

The only agenda items for this meeting are a consent calendar listing of 3 SF loans AND a resolution authorizing up to a $25 million revenue bond approval for the 209 unit Block 49 South Waterfront Apartments. 

That project includes a set aside of 42 units for formerly homeless veterans who will receive reduced rents via project based vouchers from the Housing Authority of Portland.  Also included in the Council packet are much more details on funding sources and uses for this project. [A separate project fact sheet for this project from the Portland Housing Bureau, and not in the Council packet, can be found HERE]. 

The link to the YTD Oregon Housing Council Materials , that includes the March 31st meeting materials, is found permanently in the right pane of the blog.  

The next regular Council meeting is scheduled for Salem on April 15th.  (I missed a Council meeting in February, the materials for that meeting has been added to the Housing Council packet).

Originally created and posted on the Oregon Housing Blog.

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.

SEC Proposed Rule: Housing Council Members May Need to Register as "Municipal Advisors".

NCSHA has blog item HERE; link to proposed SEC regulations, with comments due by Feb 22, is HERE.

Originally created and posted on the Oregon Housing Blog.