On March 14-15, a group of organizations gathered at our Berea, KY, office to discuss strategies for propelling the USDA 502 Direct Packaging Program to greater impact, volume, and efficiency. This peer-to-peer gathering allowed many people working as Intermediaries to meet each other for the first time, providing valuable networking opportunities.
Attendees discussed such topics as USDA guidelines, best practices, and marketing. Vickey Stratton, Northwest Regional Housing Authority, Arkansas, noted how meeting everyone in person will help facilitate the 502 Direct Program going forward.
“We are so grateful to Fahe for hosting this meeting,” Stratton said. “We want to be sure 502 stays in the forefront of what USDA is continuing to do.”
Fahe’s Sr. VP of Lending Laura Meadows facilitated the discussion and noted the opportunities it opened up.
“If the Intermediaries are on the same page, it gives us strong ground to stand on in bringing this program to more families across the US,” Laura Meadows said.
Support from the Wells Fargo Housing Foundation allowed Fahe to host organizations from Montana, New Hampshire, Oklahoma, and Arkansas. Their support has allowed Fahe to deepen our collaboration and advocacy for 502 Direct at a national level.
Fahe helped create a national nonprofit packaging system for USDA RD 502 Direct loans, and was been hailed “A Champion of Rural Housing” by the USDA for our successful leadership in seeing the system become a permanent structure for the delivery of this transformative subsidy. We currently lead a network of 40+ 502 Direct packaging partners in 18 states and have delivered over 1,000 families with $150M of 502 Direct financing.