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For More Information Contact Joe Hatfield – 304.340.9998

Changes at Federal Level Could Affect West Virginians

Members of the West Virginia Housing Development Fund’s executive staff recently participated in a conference call with representatives from the office of Sen. Jay Rockefeller, D – West Virginia.

“Keeping in touch with our federal representatives is important for the Fund,” stated Executive Director Joe Hatfield. “Senator Rockefeller has proven to be a devoted and dedicated champion for West Virginians for many years and it’s clear his commitment to the residents of this state and their desire to own a home of their own has not waned.”

Hatfield noted that there are some fundamental changes under way regarding how the federal government views the housing industry. By making Rockefeller’s office aware of how those changes will affect citizens in Welch, Charleston, Parkersburg, Elkins, Morgantown and cities and counties across this West Virginia, the state’s senior senator can better use the full force of his office to protect those families, Hatfield said.

Among the participants were Hatfield, Deputy Director Erica Boggess, House Counsel Lew Tyree and Assistant House Counsel Tracy Webb, David Rathbun, the Fund’s  Senior Director of Single Family Loan Originations, Lonnie Stringer, Managing Director of the Fund’s real estate owned division and Steve Bailey, Director of Economic Development and Grants.

Rathbun explained, to those on the conference call, that the current controversy surrounding Fannie Mae and Freddie Mac, the government-owned mortgage finance companies, is more than just media hype and political talking points.

“There are some legitimate questions wrapped up in this debate,” he stated. “What comes out of this discussion is not only going to affect how we do business, but how, on a fundamental level, people buy homes.”

Hatfield also explained to Rockefeller’s staff that some federal agencies have a more nuanced and keener insight into what it takes to build either single-family residences or multi-family units in the Mountain State.

“The USDA’s (United State’s Department of Agriculture) programs seem to work best in West Virginia,” he said. “They have the best understanding of this state and are more inclined to develop programs that truly make a difference. The mulit0family and single family loan guarantee programs are particularly beneficial.”

In concluding the call, Hatfield thanked Rockefeller’s office for taking the time to meet with the Fund.