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Housing Memo October 28, 2010 Page 2 include Anoka, Blaine, Brooklyn Park, Coon Rapids and Fridley. CEE also administers the Minnesota Housing Finance Agency programs and provides remodeling advisors and energy audits/analyses services to homeowners for a fee. Typically, the sponsoring city subsidizes the cost of these additional services. The agency charges a flat rate of $550.00 origination fee per loan. This fee covers the staff time, program design, staffing, customer contacts (phone calls), loan origination charge, general marketing (excluding printing and postage), and reporting. Parties interested in taking advantage of the remodeling advisor would see an additional charge. Loan servicing would be done by a separate agency (CRF) for an additional charge. Greater Metropolitan Housing Corporation (GMHQ GMHC is also a non—profit organization that administers a variety of home improvement/energy programs including the Minnesota Housing Finance Agency programs. They operate numerous housing resource centers, with the nearest one located in the City of Shoreview. GMHC administers special programs for Brooklyn Center, Columbia Heights, Crystal, Falcon Heights, Mounds View, Ramsey County, Roseville, Shoreview, and Woodbury. GHMC charges a 10% fee for the cost of program, based on the size of the program (i.e. $200,000 for a $2.OM program). This would cover the design of the program, staffing, customer contacts, loan origination charges, remodeling advisor, document recording, general marketing (excluding printing & postage) and reporting. Loan servicing would be done by separate agency (CRF) for an additional charge. Comparison ofAgency Capacity and Cost GMHC Pros: Cons: -Access to MHFA and Ramsey County programs -Local housing resource center (Shoreview). -Remodeling advisor -Work in nearby cities -High administration cost -Did not have high rate of participation by NB residents in a previous program.