Loan Management

The Loan Management Program provides management and maintenance of the department’s loan portfolio. This involves the coordination of required control mechanisms at the loan origination stage and the ongoing monitoring of City-financed or sponsored housing to ensure that the program and financial requirements of the loan terms are met, including loan repayment schedules, resolution of late payments, and contract evaluation. The full range of portfolio management service is provided, including: developing and maintaining reports and schedules to track portfolio activities such as repayments, delinquencies and deferrals; processing repayments, pay-off, refinancing, and subordination; performing property and site inspections; conducting property management and sales; safeguarding the security interest in Department’s investments; providing contract oversight for third party services; and, as necessary, enacting collection procedures for delinquent accounts.

Loan Compliance

The Loan Compliance Unit’s oversight is to help protect the City’s investments while ensuring that the affordable housing units remain affordable. Loans are monitored for affordability and occupancy requirements, payment of property taxes, hazard insurance, loan payments or other terms and conditions of the Developer Loan Agreement, Deed Restrictions or Promissory Note. The Loan Compliance Unit also administers the regulatory review for affordable units provided through programs other than those with direct City financial assistance, such as bond project administration and the inclusionary housing requirement mandated through the State's Health and Safety Code.

If you have any questions regarding your compliance requirements, please contact Chris Morgan at (408) 535-8240 or by e-mail to chris.morgan@sanjoseca.gov.

Programs : Loan Management