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

Current Trends

5,000 6,000 7,000

Monthly Releases of Deeds of Trust

1,000 2,000 3,000 4,000 Jan-05 Jul-05 Jan-06 Jul-06 Jan-07 Jul-07 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 Jan-16 Jul-16 Jan-17 Jul-17

Monthly Releases 3-month average

Current Trends

100,000 120,000

Annual Releases of Deeds of Trust

20,000 40,000 60,000 80,000 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 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

Current Trends

14 16 18 20

Annual Releases of Deeds of Trust per 100 persons

2 4 6 8 10 12 14 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 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

Metro Comparison

40000 45000 50000

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

Adams Arapahoe Boulder

5000 10000 15000 20000 25000 30000 35000 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Boulder Denver Douglas El Paso Jefferson Larimer Mesa Pueblo Weld

Current Trends

400 500 600

Monthly Foreclosure Starts

100 200 300 400 Jan-05 Jul-05 Jan-06 Jul-06 Jan-07 Jul-07 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 Jan-16 Jul-16 Jan-17 Jul-17

Monthly Foreclosure Starts 3-month average

Current Trends

5,000 6,000

Annual Foreclosure Starts

1,000 2,000 3,000 4,000 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 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

Current Trends

7 8 9 10

Annual Foreclosure Starts per 1000 persons

1 2 3 4 5 6 7 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 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

Metro Comparison

7000 8000

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%

Adams Arapahoe

1000 2000 3000 4000 5000 6000 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Arapahoe Boulder Denver Douglas El Paso Jefferson Larimer Mesa Pueblo Weld

Foreclosure Outcomes

60.00% 70.00% 80.00% 90.00% 100.00% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 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 Jan-16 Jul-16 Jan-17 Jul-17

% Sold % WD % Active

Current Trends

2017 County-wide starts: decrease 15% from 2016 Trends include only zip codes with >500 SFRs / >10 2016 FCs

Smallest Decrease

80921 (Gleneagle/Northgate) +16% 80911 (Security/Widefield) +3% 80903 (Downtown/Hillside) -0.2% 80831 (Falcon/Peyton)

Greatest Density

80925 (East of Fountain) 14/1000 80911 (Security/Widefield) 80916 (Panorama) 80808 (Calhan) 80831 (Falcon/Peyton) 80918 (Vista Grande) -3%

Biggest Decrease

80924 (Cordera) -56% 80909 (East Side) 80951 (Claremont Ranch) 80817 (Fountain) 80917 (Village 7/Old Farm) -33% 80808 (Calhan) 80817 (Fountain) 10/1000

Lowest Density

80106 (Elbert/Black Forest) 1/1000 80919 (Rockrimmon/Mtn Shadows) 80924 (Cordera) 80819 (Green Mtn Falls) 80809 (Cascade) 2/1000

Foreclosure Density Trends

Starts/1000 SFRs

40.0 50.0 60.0 70.0

North East Manitou/Ute Pass Fountain Valley

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

0.0 10.0 20.0 30.0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Southwest Southeast Central Northeast

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 3rd 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

$800,000 $1,000,000 $1,200,000 $1,400,000

TOTAL Cost of non-

$0 $200,000 $400,000 $600,000 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

TOTAL Cost of non- Salary, non-EPC Op Expenses TOTAL Cost of EPC- Provided Service TOTAL Cost of Salaries and Benefits

Public Trustee Expenses + “Excess Revenue”

$1,000,000 $1,200,000 $1,400,000 $1,600,000 $1,800,000

Earned Net to EPC

$0 $200,000 $400,000 $600,000 $800,000 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Earned Net to EPC TOTAL Cost of non-Salary, non-EPC Op Expenses TOTAL Cost of EPC- Provided Service TOTAL Cost of Salaries and Benefits

2018 Budget Projections

• REVENUE

– 1100 Foreclosure starts $ 218,600 – 36,000 Releases of Deeds $ 540,000 – TOTAL $ 759,500 – TOTAL $ 759,500

• EXPENSES

– Maximum budgeted $ 544,616

• Excess Revenue

$ 214,884

• Op Reserve Deposit

(actual) $ 7,291

• TOTAL TO EPC

$ 207,593