Dave Lollis, Frontier Vice-Chairman, and Tom Carew of Frontier Housing visit with Congressman Geoff Davis
Last week Dave Lollis, Frontier Vice-Chairman, Tom Carew with Frontier Housing in Morehead, and Jim King, CEO of the Federation of Appalachian Housing Enterprises, visited the office of Congressman Geoff Davis from Kentucky’s 4th District. Both were in Washington, D.C., for the National Rural Housing Coalition conference. Congressman Davis said, “I appreciate Tom and Jim keeping me up-to-date on the housing issues in our region.”
Tom Carew asked Congressman Geoff Davis for his support of the Federal Housing Finance Reform Act, which passed out of Financial Services Committee.
From Congressman Geoff Davis:
This important legislation will create a new, independent regulator
with increased authority and oversight power that is more similar to the
banking regulators. The new regulator will ensure the safety and soundness
of the GSEs, as well as focus on the original housing mission of helping
more Americans become homeowners.
I spoke out on behalf of the manager's amendment offered by Financial Services Chairman Barney Frank [D-MA], which included a provision to change the definition of "very low income family" to include any family residing in a rural area that has an income that does not exceed the poverty line applicable to their family size. The change adopted in the manager's amendment will ensure that families in poorer areas of Kentucky will reap the benefits of the Affordable Housing Fund.
Additionally I spoke in support of an amendment offered by Congressman
Albio Sires [D-NJ] to remove language in the underlying bill that would
reduce the number of directors for many States on each regional Federal
Home Loan Bank's Board of Directors. Currently, the Board of Directors for
the Federal Home Loan Bank of Cincinnati includes four directors from
Ohio, two from Kentucky and two from Tennessee. H.R. 1427 as introduced
would require distribution of directors to be based on the percentage of a
State's assets in the Bank. Under this formula, Kentucky would lose a
Subsequent to the adoption of these two amendments, I joined my
colleagues in approving both amendments by voice vote. H.R. 1427 is now
ready for consideration by the full House.
5445 Flemingsburg Rd., Morehead, KY 40351
Home Ownership Center 606-784-2131
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