Travis County Commissioners Court
August 2, 2005
Housing Finance Corporation
Let's call to order the Travis County housing finance corporation. First item and only item, consider and take appropriate action on request to ask the Texas department of housing and community affairs for approval to add participating lenders and to eliminate the builder match to the home buyer assistance program.
>> good afternoon, harvey Davis, manager of the corporation. I’m asking the board to approve sending a letter to the state asking permission to make two changes, and the first is to expand the lender list to include the -- the mortgage companies that participated in the 2002 bond program. The second request that I’d like to make to the state is to eliminate the builder match. The reason that we are -- I’m recommending that we request these changes is that, as you know, there are two -- two builders that are participating in the program and have a match requirement. One of the builders has not been originating these loans. They've only done seven out of their 30, and have indicated despite a lot of effort and retraining on our part, has indicated that they will not be able to use their allocation. So this is to make some changes I believe will enable us to originate the final 30 loans that we have on this program.
>> we told that builder what you had in mind.
>> absolutely, yes.
>> the builder said okay.
>> yes.
>> all right.
>> and I will add that I have had some conversations with the state indicating that I would be coming to the board requesting these changes and feel that we have a good opportunity that they will give the okay.
>> and to eliminate the builder match to the home buyer assistance program.
>> and the reason for that is it's -- it will make the program easier to administer, and because we would be bringing in these other lenders, you know, they were not part of that original setup of the program.
>> any objection to this letter that you drafted, mr. Blunt?
>> no, sir.
>> move approval of the request, the letter, and authorize county judge and president of the corporation to sign on behalf of the corporation.
>> second.
>> discussion? All in favor? That passes by unanimous vote. Show director Gomez absent for the entirety of this court meeting.
>> move adjourn.
>> second.
>> all in favor? That passes by unanimous vote.
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Last Modified:
Wednesday, August 2, 2005 10:01 AM