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.