Increasing Homeownership through USDA 502 Direct One Day at a Time
Building Strong Communities
June 3, 2019
Rural Housing Memo
June 14, 2019
Collaboration is at the core of Fahe. We strongly believe if we want to make the biggest impact in our communities, we should do it together.
Jamie Puckett, one of our Mortgage Production Specialists, is incredibly knowledgeable of USDA 502 Direct Loans and has recently found herself in high demand in regards to trainings around the mortgage product and Fahe’s USDA 502 Packaging Program. By collaborating with local USDA offices and packagers in Appalachian and across the country, Jamie is helping local non-profits increase their capacity and more importantly, allowing them to serve more families.
The following blog was submitted by Jamie and recounts her mostly recent trainings.
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My position as Mortgage Production Specialist at Fahe allows me to travel to different states, helping more people get access to USDA 502 Direct loans. These affordable, low-interest loans help low- and very low-income households reach the dream of homeownership. This spring has proven the perfect time to be on the road, putting a face with current packagers I talk with on a regular basis and networking with potential packagers (the local nonprofit organizations that help USDA and Fahe connect with new clients).
The South Carolina USDA Single Family Housing Director invited me to visit Columbia to meet with USDA staff and nonprofit organizations. On March 22, I gave three presentations for packagers and USDA staff: 1) explaining what an Intermediary is and how USDA and Fahe (as Intermediary) work together; 2) Tips and Best Practices to reiterate requirements from state level to packager level and; 3) Marketing Tips. There were 25 people in attendance, representing 10 nonprofit organizations. This opportunity provided valuable networking time among folks who regularly talk on the phone but had the chance to put a face with a name.
In fact, I had dinner with potential packagers, and already two of those nonprofit organizations have signed up! This is the rewarding part of my job: more organizations on board means more people will have access to this affordable loan product.
Funding from the Wells Fargo Housing Foundation allows Fahe to deepen our collaboration and advocacy for 502 Direct at a national level.
