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HomeMy WebLinkAboutMinutes Corpus Christi Community Improvement Corporation/Loan Review Committee - 08/19/2015 CORPUS CHRISTI COMMUNITY IMPROVEMENT CORPORATION LOAN REVIEW COMMITTEE August 19, 2015 MINUTES STAFF PRESENT Felicia Lopez, Housing Administration Supervisor Debbie Davenport, Loan Processor Melissa DeLeon, Management Aide MEMBERS PRESENT MEMBERS ABSENT Alice Vaughn (Chairwoman) Cathy Mehne Barry Lobell Maria Clarissa Lopez-Briseno David Cantu Monique Espinosa Call to Order: Alice Vaughn, Chairwoman, called the meeting to order at 12:20p.m., 1st Floor Staff Conference Room, 1201 Leopard St., of City Hall. Roll Call: Mrs. Felicia Lopez called roll reflecting five (5) members present and one (1) member absent. Approval of Minutes: A motion was made to approve the minutes for April 22, 2015 by board member Mr. David Cantu and seconded by board member Ms. Monique Espinosa. Chairwoman Alice Vaughn moved to accept the minutes as written. Motion carried. Single Family Loan Requests: Rudy R. & Gloria G. Trevino- Mrs. Felicia Lopez presented the loan application for Rudy R. & Gloria G. Trevino, 4726 Rogerson, under the Demo Replacement Loan Program for$82,715.00. Mr. and Mrs. Trevino will have an 840 sq. ft., 2 bedroom, 1 bath home constructed. They will be receiving a 3% loan in the amount of$46,115.00, a Deferred Forgivable loan for $20,000. Also, included is a $7,000 Relocation Grant and a Demolition Grant in the amount of$9,600. Leaving the total loan amount to be $82,715.00. Mrs. Lopez recommending this loan for approval, states that the City of Corpus Christi will have the first lien position on the property which has clear title. Mrs. Lopez states that Mr. & Mrs. Trevino has no liabilities. Their purposed housing ratio is 9% and debt to income is 23%. They have excellent credit with a credit score of 800+. Mrs. Lopez stated Mr. & Mrs. Trevino new home payment will be $254.42. They currently have an auto loan in the amount of$255.00 which will soon be paid off. This will create a wash putting the clients in a solid position. Ms. Monique Espinosa asked why was there an inquiry on December 2nd from Coastal Community Teacher's Credit Union on Mr. Trevino's credit report. Felicia replied she did not ask them if they applied for anything, but did inquire about all outstanding debt and they only have one credit card and one auto loan. A motion was made by board member Mr. David Cantu to approve the loan as presented, and seconded by board member Mr. Barry Lobell. Chairwoman Alice Vaughn states it's been moved and seconded that this loan has been approved as presented. She then asked if there was any further discussion regarding this loan application. Mrs. Felicia Lopez provided a copy of the delinquency summary report for review as requested from the previous meeting. ADJOURN: A motion to adjourn was made by Mr. Barry Lobell and seconded by Mr. David Cantu. Motion passed unanimously.