2017 Annual Report Thomas S. Mowle El Paso County Public Trustee - PowerPoint PPT Presentation

2017 Annual Report Thomas S. Mowle El Paso County Public Trustee Appointed 2/1/2008

2017 Annual Report • Current Trends in Foreclosures and Releases • Report on Operations and Finances

1,000 2,000 3,000 4,000 5,000 6,000 7,000 0 Jan-05 Jul-05 Jan-06 Jul-06 Jan-07 Jul-07 Monthly Releases Monthly Releases of Deeds of Trust Jan-08 Jul-08 Current Trends Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 3-month average Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15 Jan-16 Jul-16 Jan-17 Jul-17

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 2016 2017

10 12 14 14 16 18 20 0 2 4 6 8 1981 1982 1983 1984 1985 Annual Releases of Deeds of Trust per 100 persons 1986 1987 1988 1989 1990 1991 Current Trends 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Metro Comparison In 2017, El Paso had 14.5% of large-county releases Up 8% from 2015; Rest of Front Range down 3% 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 2016 2017

100 200 300 400 400 500 600 0 Jan-05 Jul-05 Jan-06 Jul-06 Monthly Foreclosure Starts Jan-07 Jul-07 Jan-08 Jul-08 Current Trends Monthly Foreclosure Starts Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 3-month average Jul-13 Jan-14 Jul-14 Jan-15 Jul-15 Jan-16 Jul-16 Jan-17 Jul-17

1,000 2,000 3,000 4,000 5,000 6,000 0 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 Current Trends 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 2016 2017

10 0 1 2 3 4 5 6 7 7 8 9 1981 1982 1983 1984 1985 1986 1987 Annual Foreclosure Starts per 1000 persons 1988 1989 1990 1991 Current Trends 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Metro Comparison In 2016, El Paso had 20% of large-county foreclosure starts Down 15% from 2016; Rest of Front Range down 10% Down 79% from peak; Rest of Front Range down 88% 8000 Adams 7000 Arapahoe Arapahoe 6000 Boulder Denver 5000 Douglas 4000 El Paso Jefferson 3000 Larimer 2000 Mesa Pueblo 1000 Weld 0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

100.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 60.00% 70.00% 80.00% 90.00% 0.00% Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Foreclosure Outcomes Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15 Jan-16 Jul-16 Jan-17 Jul-17 % Active % WD % Sold

Current Trends 2017 County-wide starts: decrease 15% from 2016 Trends include only zip codes with >500 SFRs / >10 2016 FCs Greatest Density Smallest Decrease 80925 (East of Fountain) 14/1000 80921 (Gleneagle/Northgate) +16% 80911 (Security/Widefield) 80911 (Security/Widefield) +3% 80916 (Panorama) 80903 (Downtown/Hillside) -0.2% 80808 (Calhan) 80808 (Calhan) 80831 (Falcon/Peyton) 80831 (Falcon/Peyton) 80817 (Fountain) 10/1000 80918 (Vista Grande) -3% Lowest Density Biggest Decrease 80106 (Elbert/Black Forest) 1/1000 80924 (Cordera) -56% 80919 (Rockrimmon/Mtn Shadows) 80909 (East Side) 80924 (Cordera) 80951 (Claremont Ranch) 80819 (Green Mtn Falls) 80817 (Fountain) 80809 (Cascade) 2/1000 80917 (Village 7/Old Farm) -33%

Foreclosure Density Trends Starts/1000 SFRs 70.0 60.0 North 50.0 East Manitou/Ute Pass 40.0 Fountain Valley Southwest 30.0 Southeast 20.0 Central Northeast 10.0 0.0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 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

2017 Work Performed • 42,463 Deeds of Trust released +8% • 1,089 New foreclosure starts -15% • 802 Foreclosures withdrawn (92 after cure) • 412 Properties sold (principal due: $84,044,364) • 412 Properties sold (principal due: $84,044,364) • 321 Sales to 3 rd parties 78% of sales • $65,964,316 in fiduciary funds -20% • CLEARLY busiest PT office in Colorado – #1 in foreclosure starts (54% more than Arapahoe) – #1 in releases (4% more than Arapahoe)

2017 Financials

2017 Financial Summary • Costs Up – Costs increased $33,781 from 2016 (6.9%) – Retirement payout & EPC benefits/services: +$42,615 • Revenue Flat – Foreclosure revenue down $45,455 from 2016 (-16.0%) – Foreclosure revenue down $45,455 from 2016 (-16.0%) – Release revenue up $44,775 from 2016 (+7.6%) – Total revenue up $748 from 2016 (+0.1%) • Revenue Transferred to El Paso County – $359,354.59, or 41% 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 Salaries 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 and Benefits

Public Trustee Expenses + “Excess Revenue” $1,800,000 $1,600,000 $1,400,000 $1,200,000 Earned Net to EPC Earned Net to EPC $1,000,000 $800,000 TOTAL Cost of non-Salary, non-EPC Op Expenses $600,000 TOTAL Cost of EPC- $400,000 Provided Service $200,000 TOTAL Cost of Salaries and Benefits $0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

2018 Budget Projections • REVENUE – 1100 Foreclosure starts $ 218,600 – 36,000 Releases of Deeds $ 540,000 – TOTAL – TOTAL $ 759,500 $ 759,500 • EXPENSES – Maximum budgeted $ 544,616 • Excess Revenue $ 214,884 • Op Reserve Deposit (actual) $ 7,291 • TOTAL TO EPC $ 207,593