The Federation of Appalachian Housing Enterprises, Fahe, is one of several nonprofit organizations that participated in USDA’s loan packaging pilot program, which became permanent in May 2016. They are working to further expand the reach and scope of the Section 502 Direct loan program to assist low-income rural families in achieving homeownership. To achieve this goal, Fahe has partnered with the West Virginia Housing Development Fund (WVHDF) and the U.S. Department of Agriculture (USDA). For the first time a state housing agency, WVHDF, will package USDA Section 502 Direct loans. Fahe will serve as the intermediary for the loans.
A ceremony was held at the WVHDF offices in Charleston, WV in recognition of this important event. Presenters at the ceremony included Jim King, CEO and President of Fahe, Erica Boggess, Acting Executive Director of WVHDF; Bobby Lewis, USDA West Virginia State Director; and Tony Hernandez, USDA Administrator for the Rural Housing Service. Additionally Mary Elisabeth Eckerson read on behalf of Senator Shelly Moore-Capito, Sara Payne Scarbo read remarks for Senator Joe Manchin, Payne Warner read remarks for Congressman Alex Mooney, and Brian Aluise read for West Virginia Governor Earl Ray Tomblin.
During the ceremony, Administrator Hernandez presented Fahe an award in recognition of the organization’s effort as a Champion of Rural Housing, and for their impact and achievements on the Section 502 Direct loan program. Jim King said that in the past 6 years of partnership with USDA, Fahe has placed over 807 hardworking families in new, safe and affordable homes through the Section 502 Direct program.
To read more about the partnership, please read the press release on Fahe’s blog.