CDCB has had considerable experience in all aspects of housing development. From its beginnings in 1974, eliminating “pit privies” within the City of Brownsville, CDCB has evolved to the largest producer of single family housing for homeownership in the State of Texas. CDCB operates seven housing and educational programs to meet the needs of Cameron County residents.

Since 1974, CDCB has been the major sub-recipient of over $55,000,000 in Federal, State, and local funds made available for housing in Southern Cameron County. CDCB has managed numerous federally and privately funded housing programs including HOME, CDBG, Rental Rehabilitation, HODAG, FMHA, Section 312, HOPE II, CASA, YouthBuild, HUD Rural & Economic Development, HUD Colonia Initiative; USDA Empowerment Zone, USDA 523 Mutual Self Help, Stuart B. McKinney funds, Americorp, Department of Labor, Texas Housing Truct Fund, Federal Home Loan Bank of Dallas, H.B. Haron Foundation, Fannie Mae Foundation, Chase Bank Foundation, HOME Depot, Sisters of Charity Washington Mutual, and the Hispanic Housing Foundation funds. Currently (Fiscal 2005-2006) CDCB manages the following public funds:

CDCB is also an approved FHA Title I & Title II lender; a Fannie Mae approved seller/servicer; and Rural Development lender. CDCB has originated over $59 million in First Lien Mortgage Loans over the last five years utilizing State of Texas and Cameron County Housing Finance Corporation Single Family Mortgage Revenue Bonds, USDA Rural Development and Wells Fargo Home Mortgage - Wholesale and Ameriquest Mortgage. Virtually all first lien loans originated by CDCB are to Hispanic families below 80% AMFI.

CDCB has an operating budget of roughly $1.5 million and employs a full time staff of 28 full-time professionals. CDCB develops, finances, coordinates, supervises, and guarantees all new housing and rehabilitation construction.

Since 1993-1994 the Community Development Corporation of Brownsville has built and/or mortgage financed 2,549 affordable homes in the Southern Cameron County area. In 2004 –2005, CDCB delivered 177 affordable homes into the local market.

Since 1998 CDCB and its private contractor partners have built 10% of all homes in the City of Brownsville, making up over 6% of all permit revenue in the City. CDCB is the most productive organization and/or company (private or public) in the City.

FHA 203b & USDA/Rural Development First Lien Orientation Lending

In October, 1996, CDCB was approved as a Title II Lender by the Federal Housing Administration and in 1998 CDCB was the first non-profit in the State of Texas to originate under the State’s Mortgage Revenue Bond Program. Since 1996 CDCB has originated over $41 million in FHA 203b lending products through the TDHCA and Cameron County Mortgage Revenue Bond Program.

State of Texas Single Family Mortgage Revenue Bond Program
The First Time Homebuyer Program channels low interest rate mortgage revenue bond funds through participating Texas lenders to eligible families and individuals who are purchasing their first home or who have not owned a home in the past three years. Eligibility is determined by a variety of factors - most importantly, income and first time homebuyer status.

In 1998 and 1999, CDCB purchased additional MRB commitments of $3.6 million of 6.75% and $2 million of 5.85% from the Texas Department of Housing and Community. All funds were originated. Since 1999 CDCB has consistently been among the top five of lenders in the State to originate MRB loans through the State of Texas.

Cameron County Housing Finance Corporation
In 1995, using private funds, CDCB purchased from the Cameron County Housing Finance Corporation a $7.125 million dollar allocation of Mortgage Revenue Bond proceeds to originate FHA, FNMA, and conventional mortgage loans to persons at or below 120% of the area median family income. Over the three year origination period, CDCB originated $6.6 million dollars of fixed rate 7.1% 30 year mortgage loans. In July, 2002 the CCHFC made available to participating lenders its Single Family Mortgage Revenue Bond Program, Series 2002A. This program provides a 4% grant for down payment assistance to first time homebuyers.

In December, 2000 CDCB began originating USDA/Rural Development 502 loans for families purchasing homes in rural areas of the County. As of September 30, 2005 CDCB has originated over $9 million through the 502 Direct or 502 Leverage Programs.

In addition, CDCB maintains a $2,000,000 warehouse line of credit with Texas State Bank to close and fund all first lien origination loans.

In January 2000, CDCB became the second non-profit nationwide to originate loans under a wholesale lending relationship with Wells Fargo Home Mortgage Inc.

Mortgage Servicing
CDCB services two different in-house loan products, the Affordable Housing Loan Programs (AHLP) and the Rural and Colonia Loan Program (RCLP). The AHLP is a 4.5%, 18 year loan and the RCLP is a 20 year 3.5% loan made to low income individuals seeking new or replacement housing in conjunction with the Rio Grande Valley Multibank (RGVMB) - a U.S. Treasury Certified Community Development Financial Institution (CDFI) through which nine (9) stockholder institutions provide up to 75% of the permanent mortgage financing for each AHLP loan and 50% for the RCLP loan originated, with public funds providing the remaining 25% to 50%. CDCB prepares all security documentation, records, and sets up individual home mortgage loans on its computerized Loan Ledger system. All loan servicing, including receiving/recording payments, escrow collection, escrow tax and insurance payments, assessments, statements, and reconciliation’s are performed. A Loan Servicing Administrator, in conjunction with a HUD-certified housing counselor, issues letters of delinquency and negotiates special circumstance payment situations. CDCB's current delinquency rate is less than .03% of all balances outstanding.

CDCB single family affordable housing (AHLP) loan portfolio tops $13 million. Total bank and Multibank portion of (AHLP) loans receivable stands at $7,166,447 as of September 30, 2005 compared to $2,917,203 at September 30, 1994, an increase of 247% over ten (10) years. Over 474 loans are currently serviced by CDCB in association with the AHLP, with a 90+ delinquency rate is 3.59%.