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West Virginia Housing Development Fund (WVHDF)Helping Residents FindSafe, Affordable HousingBy Joe Hatfield, Executive Director, WV Housing Development Fundfew years, it’s important to rememberour ultimate goal – helping residentsof this state find safe, affordable housing.Eric Stewart is a classic exampleof someone who’s playing by therules and doing all he can to make abetter life for himself and the peoplehe loves. It’s easy to get bogged downin federal regulations, ever-changingmandates and fighting a continualbattle with those who seem content tomarginalize what we do for their ownpolitical gain. But, at the end of theday, it’s worth it. Along with our lendingpartners, we truly help the citizensof this state get that much closer to theAmerican dream.We received an interesting letter at the West Virginia Housing DevelopmentFund (WVHDF) earlier this year. It came to us from Eric Stewart in Summersville.Eric was able to purchase his home through our Single Family Program.In late January, his Private Mortgage Insurance was terminated and he contacted theFund to share his gratitude. He wrote:“I would like to take this opportunity to thank you and the staff from theWVHDF. I want to express my thanks for allowing me the opportunity tofinance my home without eliminating every bit of my liquid assets. Withoutthose assets, I would have been in a tighter financial situation possibly afew years ago. I will soon have a contractor install siding to the home, andmost likely will not require outside financing. This is again due in part tothat opportunity. I feel that the WVHDF is a true economic benefit to WestVirginia, right down the Grant County Mulch in my landscaping to the localcontractor that will install my siding. I recommend your services to others ona regular basis.”We truly cherish letters like this, because it reminds us why we do what we do. Inall the confusion surrounding the mortgage and housing industries over the lastNo one can deny that the last fewyears have been rough, both for thehousing industry and our nationaleconomy. West Virginia has faredbetter than our neighboring states,but we have all felt the effect of thisdownturn. Although the Fund madefewer loans in 2010, we maintaineda strong and robust business. Workingwith our partners in the lendingindustry, we loaned nearly $40 millionthrough our Qualified Mortgage Bondprogram and more than $74 millionthrough our Secondary Marker Program.The positive impact these loanshave cannot be understated. Throughthese programs, young families have asafe, affordable residence where theycan start their life. Firefighters, teachers,nurses, miners, police officers– the very backbone of our towns andcommunities – now have a house theycan call a home.22www.wvbankers.org