Effective July 1, 2010, Senate Bill 376 transfers responsibility for collecting residential foreclosed property information from the West Virginia Division of Banking to the West Virginia Housing Development Fund (WVHDF). The information items collected by the county clerks from the foreclosure trustees have changed slightly.
Beginning with foreclosures in the month of July 2010, foreclosure data and the associated fees should be submitted to the attention of:
Nina Shinagel, Accounting Department
West Virginia Housing Development Fund
5710 MacCorkle Ave., SE
Charleston, WV 25304
Checks for the fees should be made to the West Virginia Housing Development Fund. The fee amount to be submitted by the trustees is $40 per foreclosure. The counties are to retain $20 of this amount and remit $20 per foreclosure to the WVHDF.
Senate Bill 376 requires that foreclosure reports should be filed with the WVHDF by fifteen days following the last day of September, December, March and June of each year. However, the WVHDF encourages counties to file the foreclosure reports and remit fees following the end of each month. Each county is already sending real estate transfer fees to the WVHDF on behalf of the West Virginia Affordable Housing Trust on a monthly basis. The WVHDF encourages the counties to submit the foreclosure data and associated fees along with the reports for the Affordable Housing Trust rather than two separate mailings. The WVHDF hopes that this makes the reporting process easier for the counties.
Senate Bill 376 also states that reports shall be filed in electronic format, where possible. Several counties are currently submitting the foreclosure data on an Excel spread sheet created by the Division of Banking. This spread sheet is available for download below. The WVHDF encourages the use of this spread sheet to submit foreclosure data wherever possible. Please do not make any modifications to the spread sheet or cell formats.
Also found below is the form to be used by foreclosure trustees to submit the foreclosure items to the county clerks. This form is a fill-able, PDF format.
The WVHDF appreciates everyone’s effort in submitting the foreclosure data and working with us through this transition period. If you have any questions, please contact Nina Shinagel.