Posts Tagged ‘chattel’

HUD Secretary Carson “HUDdle Conference” Draws Manufactured Housing Issues Engagement

March 21st, 2019 Comments off


The Daily Business News on MHProNews learned that the Department of Housing and Urban Development (HUD) Secretary Ben Carson, M.D., kicked off their latest ‘HUDle’ meeting at their Washington, D.C. office building.


In a statement to MHProNews, here is what the Manufactured Housing Association for Regulatory Reform (MHARR) said today.

MarkWeissJDPresidentCEOManufacturedHousingAssocRegulatoryReformDailyBusinessNewsMHProNewsThe Department of Housing and Urban Development, on March 20, 2019, held the latest in a series of “HUDdle” conferences with invited HUD-program stakeholders.  The conferences, which are an initiative of — and hosted by — HUD Secretary Ben Carson, focus on emerging issues at the Department, including, but not limited to, aspects of its ongoing regulatory reform process,” MHARR said.

Among the manufactured home industry professionals present was Mark Weiss, JD.  Weiss is the president and CEO of MHARR.

MHARR’s president emphasized the urgent need for HUD to address and resolve two key issues that continue to suppress the availability of inherently affordable manufactured housing for millions of American consumers, and the economic growth of the industry,” per their statement, which added, “Those two issues are, first, discriminatory zoning laws that exclude or severely restrict the placement of manufactured homes in large areas of the country.  The second is the critical need for reform at Fannie Mae, Freddie Mac and the Federal Housing Administration (under the “Duty to Serve” and beyond), to substantially increase the availability of manufactured home consumer financing (and especially personal property or ‘chattel’ financing) to market-significant levels.”


MHARR stated that they will be following-up soon with relevant HUD officials to further pursue these key policy objectives.


The issues come in the wake of fact-checks and related exposes by MHProNews, which included specific examples of the post-production Manufactured Housing Institute (MHI) was routinely failing to address specific cases spot-checked by MHProNews. Here accessible via the linked text-image box is but one example. Others follow below the byline, disclaimers, and notices.


MHI’s Growth Agenda? Rick Robinson, JD, SVP Manufactured Housing Institute, Preemption Evidence, Writ of Mandamus, and Addressing HUD Code Manufactured Home Shipment Woes


Placement and financing are post-production, not production related issue, so they fall into MHI’s self-proclaimed bucket of representing “all segments of factory-built housing.”  Topics like this and others will be among the issues addressed at the rapidly approaching “Fix the MH Industry Trick$” meeting a week from today Thursday afternoon at the Tunica Manufactured Housing Show.

That’s this afternoon’s manufactured housing industry “News, Tips, and Views Pros Can Use” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)



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“The Illusion of Motion Versus Real-World Challenges”










MHARR on HUD, DOE, Chattel and Powergrabs – Exclusive Report and Analysis

April 19th, 2017 Comments off

Collage credit, MHProNews.

The Manufactured Housing Association for Regulatory Reform (MHARR) has released its April 2017 Washington Update, an exclusive report and analysis that addresses key issues with the U.S. Department of Housing and Urban Development (HUD).

Covered in this MHARR report:


  • HUD Defines President Trump’s Regulatory Reforms
  • MHARR Highlights Urgent Need for Securitized Chattel
  • DOE Manufactured Housing Energy Rule Takes Another Hit

In a re-play of its well-documented institutional resistance to the full and proper implementation of the program reforms mandated by Congress in the Manufactured Housing Improvement Act of 2000, mounting evidence indicates that the HUD manufactured housing program, with its management team of Obama Administration holdovers, is openly defying the regulatory reform agenda of the new Trump Administration,” MHARR says in the report.

The report also provides insight on HUD program funding.

With the HUD program continuing to seek ever-higher funding levels from Congress in order to fund an unnecessary expansion of in-plant regulation via contractor make-work activity, MHARR is urging Congress to continue exercising strict oversight of the HUD program budget, in order to curb needless and costly contractor-driven paperwork and red tape.”

The full MHARR report and analysis is available for Daily Business News readers here. ##


(Image credits are as shown above.)



RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

MHARR to FHFA: Duty to Serve Requires Material and Expedited Support for MH Chattel Loans

February 10th, 2017 Comments off

Credits: Embassy Suites, MHProNews, Wikipedia.

Washington, D.C., February 9, 2017 – The Manufactured Housing Association for Regulatory Reform (MHARR) tells MHProNews that, at a Federal Housing Finance Agency (FHFA) “listening session” in Washington, D.C. on February 8, 2017, President and CEO Mark Weiss reiterated and underscored previous remarks by MHARR representatives.

Weiss asserted that the Agency’s December 29, 2016 “Duty to Serve Underserved Markets” (DTS) rule and related “Evaluation Guidance” for DTS implementation plans do not and cannot comply with the essential legislative mandate of DTS and are, therefore, unacceptable.

MHARR says that the meeting opened with an appearance by FHFA Director Melvin Watt, who thanked DTS stakeholders for their participation and information provided regarding specific aspects of DTS’ implementation.

Watt also announced that the February 17, 2017 deadline for written responses to a detailed Request for Information (RFI) published by FHFA specifically concerning manufactured housing chattel loans, would be extended until March 21, 2017, which appeared to be a response to President Donald Trump’s regulatory “freeze” order, enacted on January 20, 2017.


Credit: Scott Lewis, Creative Commons.

During the meeting, MHARR detailed the specific legal and policy bases for its position that any DTS implementation, in order to comply with the express directive of Congress as set forth in the Housing and economic Recovery Act of 2008 (HERA), must provide for a program of material and expedited Government Sponsored Enterprise (GSE) securitization and secondary market support for manufactured housing chattel loans, which comprise 80% or more of the entire manufactured housing market.

DTS was not an invitation for the GSEs to maintain the status quo for years or decades more,” said Weiss.


M. Mark Weiss. Credit: MHProNews.

DTS does not stand for ‘Duty to Study.’

Weiss also commented on Director Watt’s actions.

As indicated by Director Watt’s action to extend the comment deadline for FHFA’s pending RFI, the January 20, 2017 regulatory ‘freeze’ order put in place by President Trump, by its express terms, also applies to the DTS final rule and subsequent Evaluation Guidance” said Weiss.

FHFA should use the additional time provided by this order to correct its approach to DTS and, with the additional information and input that it has received from stakeholders, revise both the final rule and its Evaluation Guidance to provide for an expedited path to material, mandatory GSE securitization and secondary market support for manufactured housing chattel loans.”

The full MHARR statement is available for Daily Business News readers here.

The full presentation from Weiss to the listening session is linked here. ##

(Image credits are as shown above.)


RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

MHARR to FHFA: Duty to Serve Without Chattel is Unacceptable

January 31st, 2017 Comments off

Capitol Building credit, Wikipedia. MHARR, Mark Weiss images MHProNews. MHARR logo is their intellectual property, and is shown here under fair use guidelines.

Washington, D.C. – The Manufactured Housing Association for Regulatory Reform (MHARR) reports to MHProNews that, at a Duty to Serve (DTS) “listening session” conducted by the Federal Housing Finance Agency (FHFA) in Chicago, Illinois on January 25th,  it advised FHFA officials and representatives of the FHFA regulated Government Sponsored Enterprises (GSEs), that the December 29, 2016 FHFA final DTS rule which does not mandate manufactured housing chattel loan securitization and secondary market support by the GSEs is unacceptable as currently written.

In comments and a detailed written statement at the meeting, MHARR stressed that any DTS rule which fails to provide meaningful and timely securitization and secondary market support for chattel loans, which comprise upwards of 80 percent of the manufactured housing consumer finance market, cannot conceivably satisfy the mandate imposed by Congress via the DTS provision of the Housing and Economic Recovery Act of 2008 (HERA).

MHARR says that while the FHFA final rule and related guidance proposal issued on January 13th have been lauded by some as bringing consumers and the industry “closer to the realization of a manufactured housing chattel loan securitization and secondary market support program that would end decades of discrimination against the largest segment of the manufactured housing finance market,” the reality is that the final rule contains no affirmative requirement for GSE support of manufactured home chattel loans and no meaningful penalty or sanction for their continuing failure to serve that part, or any other part, of the manufactured housing finance market.


Credit: Neon Tommy.

The final rule and evaluation guidance would only require that the GSEs consider such support, a formulation that particularly given the GSEs history, would allow them to either bypass and reject such support or engage in endless and ultimately meaningless research and outreach, with nothing more than a perfunctory explanation.

MHARR contends that the FHFA rule as confirmed at the meeting would leave major FHFA regulatory hurdles including its rule requiring approval of new products that could prevent or significantly delay any actual GSE support activity for manufactured housing chattel loans, in place.

The rule would thus continue to exclude the vast majority of potential manufactured housing purchasers from the market, because they cannot afford to pay higher-cost manufactured home chattel loan interest rates that are needlessly inflated by the discriminatory lack of GSE securitization and secondary-market support for such loans and by the lack of full and robust free-market competition, which is artificially suppressed by those same policies.


Danny Ghorbani, photo credit, the Journal.

While discussing the GSEs, former MHARR President Danny Ghorbani further confirmed concerns.

Despite forty-years of on-again, off-again flirtation with the industry and its consumers, are socially active and engaged, but fiscally removed and divorced from each,” said Ghorbani.

[The GSEs] talk the right talk and go through the right motions, attending and sponsoring industry events and even hiring industry members as consultants to advise them, but have never formulated and implemented a positive and workable program to securitize the chattel loans that would allow low, lower and moderate-income consumers to become homeowners an underserved market that Congress decreed nine years ago, the GSEs must now serve.

For the full statement from MHARR, click here.

The Daily Business News covered the FHFA in a report linked here

Masthead commentary on this issue is linked here. ##

(Image credits are as shown above.)


RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Millennials Need Affordable Housing, but “Trailer Park Boys” stigma slows Manufactured Home Acceptance

September 30th, 2016 Comments off

A Vancouver area manufactured home. Credit: Lighthouse Realty

Home prices in the Vancouver, British Columbia (B.C.) metro are expensive. The average price for a detached home in the Fraser Valley, for example, is $900,000. A typical condominium can set you back $248,000.

Compare that to the typical manufactured home in B.C., which sells for around $80,000. According to Business Vancouver, even when the personal property (chattel) mortgage – which can be insured through Canada Mortgage and Housing Corp – and pad rental are factored in, it remains by far the least expensive housing option in the province.

Not unlike the states south of the border, a historical stigma is causing younger buyers to ignore this option.

And though there is an affordability issue in many parts of Canada, municipalities actually discourage manufactured homes.


Abdul Safi. Credit: LinkedIn

Vancouver has developed a class society based on housing prices,” said Abdul Safi, mortgage manager of TD Canada Trust in Vancouver. Safi also said that less than 10% of his clients are buying a manufactured home. “People don’t want to say they live in a trailer park [sic].

As Lisa Tyler, Ph.D., associate academic dean at Bethel University told MHLivingNews, the stigma which is also present in the U.S., is dated.


Lisa Tyler, PhD. associate academic dean, Bethel University. Credit: MHLivingNews.

Manufactured housing presents a solution,said Tyler. “It’s inexpensive, energy efficient, and a great value. There’s a lot of opportunity for growth in the industry, but a lot of obstacles, too.

Tyler has the distinction of being the first Ph.D. in United States over a decade whose dissertation was focused on manufactured housing, so her research on manufactured housing related issues is current.

Canadian Professional Anger

The stigma angers one of the leaders in the Canadian manufactured housing industry.

Our industry provides an affordable home for about 60,000 households in 1,000 communities across B.C.,” said Al Kemp, executive director of the Manufactured Home Park Owners Alliance of BC (MHPOA).

I hate the Trailer Park Boys,” Kemp said, claiming the hit Canadian comedy presented a disparaging view of what are safe, comfortable and affordable residential subdivisions. “Today’s manufactured homes are solid wood-frame construction; designed to remain in place; they are certainly not trailers.


Al Kemp. Credit: LinkedIn

Kemp believes that consumer hubris and tax-hungry politicians are slowing down acceptance of manufactured housing as a viable option. He believes that it will take a groundswell of demand from millennials to change the situation.

Bill Summer, a real estate agent with The Lighthouse Realty Ltd., said that there’s more to the issue.

Summer noted that municipal development fees and regulations, and rising land costs could mean no more manufactured home communities will be built in the Lower Mainland. He also noted that developers have bought up many of the existing manufactured home communities to redevelop the land for much more profitable strata projects.


Eugen Klein. Credit: Mobile Home Parks CA

Eugen Klein, a manufactured home community specialist with Royal LePage Sussex Klein Group, sees hope.

He shared that there are ways for manufactured home communities to attract young buyers. Car-sharing programs, community games rooms and better home design could all be used to “amp” the cool factor, Klien said.

Summer is not so certain.

When you break down the costs, young buyers are more likely to opt for a condo,” said Summer. “First, the pad rentals in the Lower Mainland average about $600 a month compared with $250 in condo strata fees.

Modern manufactured homes, while well designed and finished, can cost up to $150,000,” he said, citing that the prices for manufactured homes mentioned in the Business Vancouver article under $50,000 are often “end of life” units that are in need of major repairs.

The kicker, though, is that the average condominium price across Metro Vancouver has increased 39% in the past year, while the price of manufactured home has barely budged.” Summer said.  ##

(Image Credits are as shown above.)


RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.






Five years after Dodd-Frank, Community Banks failing, Consumers suffer and Mega-Banks just fine

August 27th, 2013 Comments off

tanya-marsh-wake-forest-law-school-posted-daily-business-news-manufactured-housing-professional-news-Sounding off in the respected Huffington-Post, Wake Forest Law School Professor Tanya Marsh writes that: “First, the mega banks are just fine.”…”Second, community banks are definitely not fine.” and “Third, consumers are the big losers.” Marsh states that “In the second quarter of 2013, Bank of America saw a 63% increase in net income, Citigroup posted a 42% increase, JPMorgan Chase recorded a 32% increase, and Wells Fargo “only” logged a 19% increase. Headlines boast of the “record profits” enjoyed by the mega banks.” Even before the 2008 mortgage and financial system crisis, the professor said “…smaller banks saddled with a growing regulatory burden found it difficult to compete with more efficient mega banks. The result was a greater consolidation of assets in the hands of a few companies. The number of banks with assets of less than $100 million decreased by more than 80% from 1985 to 2010 while the number of banks with assets greater than $10 billion nearly tripled over the same period.”  Marsh said, “Financial activities that are fundamental to the average American are only worth the time of a mega bank if they involve a completely standardized product and a completely standardized borrower.” Marsh says that 5 years after Lehman Brothers failed, those who didn’t cause the financial meltdown are being punished, the mega lenders are just fine and consumers and small businesses are the big losers, if the pattern isn’t changed. As MHProNews readers can relate, as this is also true for ‘non-banking’ lenders, such as communities or retailers willing to make chattel (personal property) or offer lease purchase programs to potential borrowers who don’t fit a Dodd-Frank/CFPB regulation lending ‘box.’ ##

(Photo Credit: Wake Forest Law)

Strong Loan Performance from Manufactured Home Mortgages

March 25th, 2013 Comments off informs MHProNews the Corporation for Enterprise Development (CFED), a non-profit dedicated to expanding opportunity for low-income families and communities in the U. S., reports manufactured home borrower repayment records are comparable to site-built mortgage borrowers, and in some cases were better than comparable general mortgage portfolios. CFED’s report, Toward a Sustainable and Responsible Expansion of Affordable Mortgages for Manufactured Homes, has determined that while conventional underwriting criteria in general are related to strong loan performance, maintaining close contact with MH borrowers despite lower down payments and less rigid credit requirements has in many cases produced similar results. Based on an analysis of $1.7 billion in manufactured home mortgage lending over a two year period by CFED’s I’M HOME (Innovations in Manufactured Homes), the goal is to promote manufactured home mortgage financing as an alternative to more expensive chattel lending.

(Image credit: mortgageloanrealtor)