Montebello Housing Montebello Housing Development Development CorporationCorporation

HOME OWNERSHIP COUNSELING AGENCY AN HOME OWNERSHIP COUNSELING AGENCY AN NCLR AFFILIATENCLR AFFILIATE

Family Strengthening Award RecipientFamily Strengthening Award Recipient

Presented by: Robert Monzon / Board PresidentPresented by: Robert Monzon / Board President

Agency History and Agency History and Service AreaService Area

Established in 1992Established in 1992 Private Not for Profit 501 C (3) Public Private Not for Profit 501 C (3) Public

Benefit CorporationBenefit Corporation Flagship First Time Homebuyer Program Flagship First Time Homebuyer Program

established in 1993 with City of Montebelloestablished in 1993 with City of Montebello In 2000 MHDC sought other sources of In 2000 MHDC sought other sources of

fundsfunds In 2001 we joined the NCLR In 2001 we joined the NCLR

Homeownership NetworkHomeownership Network In 2002 we purchased our own buildingIn 2002 we purchased our own building

Our Service AreaOur Service Area

Agency Programs and Agency Programs and Services IServices I

City of Montebello Down Payment Asst. City of Montebello Down Payment Asst. ProgramProgram

CalHome Down Payment Asst. ProgramCalHome Down Payment Asst. Program Homeowner Rehab programs for seniorsHomeowner Rehab programs for seniors Credit Counseling ServicesCredit Counseling Services Homebuyer Education ProgramHomebuyer Education Program Homeownership CounselingHomeownership Counseling

Agency Programs and Agency Programs and Services IIServices II

Community Beautification ProgramCommunity Beautification Program Advocacy ProgramAdvocacy Program Individual Development AccountsIndividual Development Accounts Federal Home Loan Bank (FHL) Federal Home Loan Bank (FHL)

fundsfunds Regional Housing FairsRegional Housing Fairs New Housing DevelopmentNew Housing Development Corporate OrientationsCorporate Orientations

Loan Department Loan Department ProgramProgram

EducationEducation Homebuyer Education – 8 hour courseHomebuyer Education – 8 hour course Predatory Lending TrainingPredatory Lending Training Pre/Post Purchase TrainingPre/Post Purchase Training Financial Literacy TrainingFinancial Literacy Training

CounselingCounseling Loan and Credit CounselingLoan and Credit Counseling Mortgage readiness CounselingMortgage readiness Counseling Down Payment Assistance CounselingDown Payment Assistance Counseling IDA participants require monthly contactIDA participants require monthly contact

Realtor Partner Program (new)Realtor Partner Program (new)

NCLR Counseling ModelNCLR Counseling Model Initiative En Su Casa PartnershipInitiative En Su Casa Partnership Counselor Max Tracking SystemCounselor Max Tracking System Three Lender MatrixThree Lender Matrix Bilingual / Bicultural staffBilingual / Bicultural staff One on One counselingOne on One counseling Technical SupportTechnical Support HUD CertificationHUD Certification

Client DemographicsClient Demographics Spanish Mono-lingual – 30%Spanish Mono-lingual – 30% Bilingual Spanish / English – 60%Bilingual Spanish / English – 60% English Mono-lingual – 10%English Mono-lingual – 10% Single Head of Household – 45%Single Head of Household – 45% Single Parent Households – 25%Single Parent Households – 25% Families – 30%Families – 30% Low Income - < 80% of Median Income – Low Income - < 80% of Median Income –

90%90% Moderate Income - >80% to 140% of Moderate Income - >80% to 140% of

Median Income – 10%Median Income – 10%

Program HighlightsProgram Highlights The StaffThe Staff

HBE Manager – Lourdes OrtizHBE Manager – Lourdes Ortiz 2 Loan Counselors2 Loan Counselors

Last Years Statistics 2004 / 2005Last Years Statistics 2004 / 2005 3000 Outreach3000 Outreach 398 Homebuyer Education398 Homebuyer Education 300 Clients Counseled300 Clients Counseled 51 DAP Closings / 73 Total Closings51 DAP Closings / 73 Total Closings

Additional Program Additional Program HighlightsHighlights

We own our own We own our own building building centrally located.centrally located.

For efficiency all For efficiency all our loan files are our loan files are scanned and scanned and digitally stored digitally stored for easy retrieval for easy retrieval and for disaster and for disaster recovery recovery purposes.purposes.

Listening Tour 2004Listening Tour 2004

Barriers to Barriers to HomeownershipHomeownership

CreditCredit BudgetingBudgeting Saving consistentlySaving consistently Becoming Home Mortgage ReadyBecoming Home Mortgage Ready Finding a homeFinding a home

This was an issue for our clientsThis was an issue for our clients Lack of Realtors knowledge in Affordable Lack of Realtors knowledge in Affordable

Housing ProgramsHousing Programs Lack of interested professionals due to hot Lack of interested professionals due to hot

Market over the past three yearsMarket over the past three years

Realtor Partner Realtor Partner AgreementAgreement

Major Program HighlightsMajor Program Highlights

Realtors may be referred or have a desire to help buyers Realtors may be referred or have a desire to help buyers that may not be ready to purchase at this timethat may not be ready to purchase at this time

Realtors must demonstrate a desire to assist homebuyers Realtors must demonstrate a desire to assist homebuyers that may require home buying assistancethat may require home buying assistance

Realtors will refer clients with the understanding that they Realtors will refer clients with the understanding that they will remain their clients under our tracking systemwill remain their clients under our tracking system

Realtors will make a $300.00 donation to MHDC per sale Realtors will make a $300.00 donation to MHDC per sale closed by an MHDC client they assistclosed by an MHDC client they assist

MHDC counselors will track clients referred by Realtors MHDC counselors will track clients referred by Realtors and refer them back when ready to purchaseand refer them back when ready to purchase

MHDC counselors will maintain open communication with MHDC counselors will maintain open communication with the client and the Realtors under this programthe client and the Realtors under this program

MHDC will provide housing fairs that Realtors may MHDC will provide housing fairs that Realtors may participate inparticipate in

Realtor Partner Realtor Partner CurriculumCurriculum

Realtor Participate in activities throughout the yearRealtor Participate in activities throughout the year Realtor must attend a home buyer education seminarRealtor must attend a home buyer education seminar Should attend a minimum of one to two housing fairs or community eventsShould attend a minimum of one to two housing fairs or community events Realtor must complete the following trainingRealtor must complete the following training

Session One (In the Second Quarter)Session One (In the Second Quarter) MHDC program overview and orientationMHDC program overview and orientation Down Payment Assistance DAP programDown Payment Assistance DAP program CalHome programCalHome program CalHFA, HOP, and WISH Fund programCalHFA, HOP, and WISH Fund program Tracking system and communication protocolsTracking system and communication protocolsSession Two (In the Third Quarter)Session Two (In the Third Quarter) Lending programs offered by lenders we have memorandums of Lending programs offered by lenders we have memorandums of

understanding withunderstanding with IDA programsIDA programs Senior Rehab programSenior Rehab program Predatory Lending issuesPredatory Lending issues Helping our clients look for a homeHelping our clients look for a home

Thank you.Thank you.