Output Class 4: Financial Assistance - Housing | Housing New Zealand

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        Output Class 4: Financial Assistance - Housing

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Statement of Responsibility
Statement of Forecast Service Performance
- Output Class 1: Advisory Services
- Output Class 2: State House Tenancies
- Output Class 3: Policy Advice
- Output Class 4: Financial Assistance - Housing
- Output Class 5: Property Management Agency Services
Statement of Forecast Financial Performance
Forecast financial statements

About us

Output Class 4: Financial Assistance - Housing

Description
The scope of this Output Class is limited to the management of financial products that assist individuals/households and community housing providers to purchase houses and maintain houses that they own. Loans and grants issued may be in the Crown's name or in the Corporation's name for different financial products.
Performance Information
Measure	Standard - 2009/10	Standard - 2008/09
4.1 Loans and Grants
Accuracy - loans and grants issued meet the eligibility criteria (Corporation and Crown loans)	At least 98 percent	New measure
Planned volume - Corporation loans: suspensory loans approved for essential repairs in Northland, East Coast and eastern Bay of Plenty suspensory loans approved for essential repairs in Rural Housing rollout areas households assisted with infrastructure repairs in Northland, East Coast and eastern Bay of Plenty Rural Housing loans - dwellings repaired	175 - 190 30 - 40 30 - 40 205 - 230	215 - 245 50 - 70 40 - 60 265 - 315
Planned volume - Crown loans - Housing Innovation Fund units provided bedrooms provided substantial grants to Ma - ori organisations approved	At least 120 240 - 400 5 - 15	80 - 100 New measure New measure
Timeliness (monitoring) - suspensory loans and grants - annual confirmation sought from borrowers that conditions are met loans (community housing providers) - annual review that conditions of loan continue to be met, is completed	At least 95 percent At least 95 percent	New measure New measure
Wellington City Council loan - monitoring reports to the Minister on the Council's progress against the programme of work set out in the Deed of Grant	Quarterly - meeting the Minister's expectations	New measure
Debt management (Corporation) - total arrears as a proportion of the total loan portfolio	1.2 percent or less	New measure
4.2 Co-ownership Arrangements
Accuracy - new Shared Equity Scheme loans issued meet eligibility criteria	100 percent	100 percent
4.3 Mortgage Repayment Assurance
Claims management - percentage of loans issued by provider banks meet eligibility criteria claims from provider banks settled consistent with agreements	At least 98 percent At least 98 percent	New measure New measure
Planned volume - new loans with mortgage repayment assurance arrangements underwritten	At least 1,150	900 - 1,300
Debt management - the fund is managed effectively within liability provision	At least 98 percent	New measure

Contextual Information
Estimated demand	4.1 Loans and Grants Financial limits for new (Crown) loans: Housing Innovation Fund (Crown) - $15 million Housing Innovation Fund (Ma - ori Demonstration Partnerships) - $5 million Housing Innovation Fund lending subsidies - $1.292 million Financial limits for new (Corporation) loans: Rural Housing (suspensory loans and infrastructure repairs) - $7 million Wellington City Council - $13.5 million lending subsidies - $1.45 million 4.2 Co-ownership Arrangements Financial limit for new arrangements: Shared Equity Scheme - $6 million
Development actions	KiwiSaver housing deposit subsidy - development of operational policies and procedures - for implementation on 1 July 2010 Welcome Home Loans - extension to papaka - inga and non-government organisations (pending policy approval and product development) Loan portfolio reports - complete a review of reporting required against loans for which management is outsourced and from provider banks - by 30 June 2010
Programmes	4.1 Loans and Grants Housing Innovation Fund (Crown loans) Rural Housing Essential Repairs Suspensory Loans Infrastructure Suspensory Loans Weathertight Loans 4.2 Co-ownership Arrangements Shared Equity Scheme 4.3 Mortgage Repayment Assurance Welcome Home Loans

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Page Updated: 1 July 2009
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