1/23/1990 - Laserfiche WebLink

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Maximum Current Annual Family Income: Indian River Martin St. Lucie Maximum Acquisition Prices: Indian River Martin St. Lucie Homebuyer Origination Fee: Lender . "'Commitment Fee: _:_ `= Lender °,--Origination Profit: =:Builder Reservations: NON -TARGETED AREAS 1-2 Family 3 + Family Members Members 29,500 33,925 29,500 33,935 29,500 33,925 NON -TARGETED AREAS New Existing 84,870 72,540 84,870 72,540 84,870 72,540 TARGETED AREAS 1-2 Family 3 + Family Members Members N/A N/A N/A N/A 35,400 41,300 . TARGETED AREAS New Existing N/A N/A N/A N/A 103,730 88,660 3.50%, plus $250 application fee 2% for spot funds 2.50% for builder reservations 1.59 A maximum of 759 of each lender's allocation can be reserved for builders. No more than 50% of total program moneys can be reserved for builders. No more than 10% to any one builder. Commitment Period: 50% of program allocation within 6 months 75% of program allocation within 9 months 100% of program allocatioh within 12 months Master Servicer: Servicing Released; Master Servicer not determined. OMB Director Baird advised that he put this item on the Agenda for the last meeting in January at the request of Hough & Co., but unfortunately, they still have not forwarded information about the banks who might be interested in participating in the program. In addition, they have a slight problem with our application fee and our 1/2% per bond up to $10,000. They were requesting that he waive that; he said he could not; and they are going to forward something in writing to the Commission in that regard. Since he has not received any of that information, Director Baird did not know if they are possibly rethinking that or not. Commissioner Scurlock advised that, as directed by the Board, he, Administrator Chandler, and Director Baird, did meet with these people and came up with a positive recommendation to try to work with the group to show our interest in low cost house. He felt that now the ball is in their court. 33