2015 Annual Report Thomas S. Mowle El Paso County Public Trustee - PowerPoint PPT Presentation

2015 Annual Report Thomas S. Mowle El Paso County Public Trustee

Public Trustee Report • Current Trends in Foreclosures and Releases • 2015 Report on Work Performed and Finances

1,000 2,000 3,000 4,000 5,000 6,000 0 Jan-05 Jul-05 Jan-06 Jul-06 Jan-07 Monthly Releases Monthly Releases of Deeds of Trust Jul-07 Jan-08 Current Trends Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 3-month average Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15

100,000 120,000 20,000 40,000 60,000 80,000 0 1981 1982 1983 1984 1985 1986 1987 1988 Annual Releases of Deeds of Trust 1989 1990 Current Trends 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Metro Comparison El Paso had 12.6% of large-county releases Up 31% from 2014; Rest of Front Range up 35% 50000 45000 Adams 40000 Arapahoe Boulder Boulder 35000 Denver 30000 Douglas 25000 El Paso Jefferson 20000 Larimer 15000 Mesa 10000 Pueblo Weld 5000 0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

100 200 300 400 500 600 0 Jan-05 Jul-05 Jan-06 Jul-06 Monthly Foreclosure Starts Jan-07 Jul-07 Jan-08 Current Trends Monthly Foreclosure Starts Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 3-month average Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15

1,000 2,000 3,000 4,000 5,000 6,000 0 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 Current Trends 1991 Annual Foreclosure Starts 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Metro Comparison El Paso had 22.2% of large-county foreclosure starts Down 20% from 2014; Rest of Front Range down 33% Down 72% from peak; Rest of Front Range down 86% 8000 7000 Adams Adams 6000 Arapahoe Boulder 5000 Denver Douglas 4000 El Paso Jefferson 3000 Larimer Mesa 2000 Pueblo Weld 1000 0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Current Trends Outcomes of Foreclosure Filings 100.00% 90.00% 80.00% 70.00% 60.00% % Sold 50.00% % WD 40.00% % Active 30.00% 20.00% 10.00% 0.00% Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15

Current Trends 2015 County-wide starts: decrease 20% from 2014 Trends include only zip codes with >500 SFRs / >10 2014 FCs Greatest Density Biggest Increase 80925 (Security/Fountain) 18/1000 80925 (Security/Fountain) +34% 80916 (Panorama) 80808 (Calhan) 80808 (Calhan) 80922 (Springs Ranch/Stetson Hills) 80910 (Pikes Peak Park) 80910 (Pikes Peak Park) 80923 (Ridgeview/Sundown) +1% 80923 (Ridgeview/Sundown) +1% 80817 (Fountain) 13/1000 Lowest Density Biggest Decrease 80106 (Elbert/Black Forest) 2/1000 80907 (North End) -39% 80924 (Cordera/Wolf Ranch) 80951 (Claremont Ranch) 80927 (Banning-Lewis) 80910 (Pikes Peak Park) 80919 (Rockrimmon/Mtn Shadows) 80918 (Vista Grande) 80921 (Gleneagle/Northgate) 3/1000 80904 (Old Colorado City) -35%

Foreclosure Density Trends Starts/1000 SFRs 60.0 North 50.0 East 40.0 Manitou/Ute Pass Fountain Valley Fountain Valley 30.0 30.0 Southwest 20.0 Southeast 10.0 Central Northeast 0.0 2008 2009 2010 2011 2012 2013 2014 2015 North: 80106, 80132, 80133, 80908, 80921 East: 80808, 80831, 80832, 80833, 80835, 80864, 80928, 80929, 80930 Manitou/Ute Pass: 80809, 80819, 80829, 80863 Fountain Valley: 80817, 80911, 80925, 81008 Southwest: 80905, 80906, 80926 Southeast: 80910, 80915, 80916, 80951 Central: 80903, 80904, 80907, 80909, 80917, 80918, 80919 Northeast: 80920, 80922, 80923, 80924, 80927, 80938, 80939

2015 Work Performed • 36441 Deeds of Trust released +31% • 1470 New foreclosure starts -20% • 770 Foreclosures withdrawn (99 after cure) • 807 Properties sold (principal due: $152,127,577) • 807 Properties sold (principal due: $152,127,577) • 313 Sales to 3 rd parties 39% of sales • $54,268,830 in fiduciary funds +11% • STILL busiest PT office in state – #1 in foreclosures (58% more than Arapahoe) – #4 in releases (13% less than Arapahoe)

2015 Financials

2015 Financial Summary • Spending Up… due to unusual non-repeating costs – Cut ordinary costs by $39,392 from 2014 (-7.3%) – Cost of move, computers, phones: $47,245 • Revenue Up – Foreclosure revenue down $79,909 from 2014 (-20.9%) – Foreclosure revenue down $79,909 from 2014 (-20.9%) – Release revenue up $129,825 from 2014 (+31.2%) – Total revenue up $49,639 from 2014 +6.2%) • Revenue Transferred to El Paso County – $334,950, or 39% of earned revenue

Public Trustee Expenses $1,400,000 $1,200,000 $1,000,000 $800,000 TOTAL Cost of non- TOTAL Cost of non- Salary, non-EPC Op $600,000 Expenses $400,000 TOTAL Cost of EPC- Provided Service $200,000 $0 TOTAL Cost of 2007 2008 2009 2010 2011 2012 2013 2014 2015 Salaries and Benefits

2016 Budget Projections • REVENUE – 1200 Foreclosure starts $ 262,196 – 38,000 Releases of Deeds $ 570,000 – TOTAL – TOTAL $ 833,036 $ 833,036 • EXPENSES – Maximum budgeted $ 535,668 • Excess Revenue $ 297,368 • Op Reserve Drawdown(actual) $ 39,392 • TOTAL TO EPC $ 336,760