The City’s Housing Rehabilitation Program and First Time Homebuyer Program provide grants and loans to income-eligible residents for the rehabilitation or down-payment of single family residences located in El Centro. Funding for these programs is provided through the Department of Housing and Urban Development (HUD) and the California Department of Housing and Community Development (HCD). The City also provides loans to residents in need to connect to water and sewer services within the City of El Centro; some of these loans are to cover water and waste water capacity fees. In addition, the City offers business loans and various municipal loans. The City is seeking services from an escrow company to provide a variety of services, such as but not limited to: • Loan Portfolio Management (Timely collection of amortized and deferred loan payments) • Preparation of Monthly Collection/Status Reports on the receipt and disbursement of funds • Preparation of Loan Payoff Statements • New Loan Set-Up • Monitoring Client’s real estate taxes and insurance coverage • On-line System – All data and information pertaining to the City’s loan portfolio must be accessible to City staff on an up-to-date basis.
