Q&A
Overview of HPD's closing processes and volume
1:52:42
·
140 sec
HPD officials provide an overview of their closing processes and the volume of transactions they handle annually. They explain the variety of housing assistance programs they manage and the factors that influence their closing schedules.
- HPD handles thousands of transactions annually, ranging from home repair loans to large multifamily construction projects
- The number of closings varies year to year due to the diverse range of projects
- Last year, HPD financed over 25,000 units of housing, including new construction and preservation
- External factors, such as federal funding cycles, influence the timing and volume of closings
Amanda Farías
1:52:42
Yes.
1:52:43
Thank you.
1:52:44
And then in terms of the closings that you guys have set, you folks have set, how many of them do we look at per quarter, per year, and and do we look at it across the fibros?
Kim Darga
1:52:57
So the number of closings can vary dramatically year to year because we are financing a huge range of different types of real estate.
1:53:05
Right?
1:53:06
Everything from providing home repair loans to single family homeowners to down payment assistance, to financing large multifamily new construction, smaller multifamily new construction, supportive housing, preserving, and providing, you know, run of station assistance for HDFC cooperatives and Mitchell Llamas and former LiTech properties, like everything you can imagine.
1:53:31
We're basically providing assistance in some way.
1:53:33
We are closing thousands of transactions.
1:53:36
Most of them are through the as of right programs that are easier for us to administer and less resource intensive.
1:53:44
So 421a and inclusionary housing has a huge value in my transactions.
1:53:48
And, of course, a lot of transactions with individual homeowners.
1:53:53
So down payment assistance and through our home repair programs.
Amanda Farías
1:53:56
Okay.
Kim Darga
1:53:58
The amount really varies in terms of transactions.
1:54:02
We're trying to get to a certain amount of households that we're serving annually.
1:54:07
And so last year, right, the we financed over 25,000 units of housing, which is a mix of new construction and preservation.
1:54:15
Our goal is to finance as much as possible because we know the are so significant.
Ahmed Tagani
1:54:19
And the only thing I would add is that there's also program areas that are important.
1:54:23
So whether we are trying to increase and meet our benchmarks for supporting files in, for senior housing.
1:54:29
And then additionally, when we look across the year, there are different points where we see external activity about what financing will have.
1:54:36
So there are two points at least in the year where we know where we're gonna get our light tech funding and we know how that will impact each of the different points in the closing season.
1:54:44
There are things that close in between the closing season, but those main points and understanding what the external factors would be what will flow down from the federal government's state to us helps define some of that.
1:54:55
And then we position the capital resource to match that and then see what else we can do both on a program side using those funding sources.
