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Mayor Sounds Off on UMH Properties – Data, Documents, & More

October 30th, 2018 Comments off

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Mayor Dean Dickey of Columbia, Tennessee was asked to comment via video about Countryside Village location of UMH Properties.

 

As a housekeeping note for this report, recent data and information from UMH Properties (UMH) will be laced between some other commentary which may not be directly related to the slide/illustration shown.

 

 

The video comment by Mayor Dickery are pleasant, but frankly it isn’t compelling dialogue.  The video is grainy, so the Daily Business News on MHProNews shrank the image to make it appear better. Full size, it is not very clear, which may reduce its impact for possible viewers.

 

 

That said, the idea to ask a mayor for comments can be prudent. Done professionally, it can be powerful.  This UMH video thus provided a ‘compare and contrast’ ‘teachable moment’ opportunity that public officials can be asked for statements, but also reveals how that can best be done. An example of how that is accomplished is found on MHLivingNews, and is also shown in the video below. Compare the two videos, and then push onto the latest UMH data.

 

 

These videos provide a backdrop to new data, documents, and images from UMH Properties, one of the largest manufactured home community operators in the U.S.  The video below is from their 50th anniversary annual meeting last year.

 

 

UMH is headquartered in a state that is not currently too manufactured housing friendly. Most of UMH’s locations are in other states. With a GOP contender Bob Hugin in surprisingly in striking distance in the deep blue “Garden State” of a scandal-ridden Senator Bob Menendez (NJ-D), this is also a reminder that the midterms are the time to vote for pro-business, pro-growth politicos.

 

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The right zoning, finance, and other placement policies in New Jersey – and the other 49 states – could open up a number of new home sales options in a state that has outrageously high housing costs.

 

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Sam Landy, JD, president and CEO of UMH Properties (UMH) has taken an interesting view when local media has come after his company for this or that reason.

 

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Landy has said they welcome the media oversight.

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That’s an arguably refreshing view, compared to the silence that often comes from the Manufactured Housing Institute (MHI) when a post-production issue is called into question.

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Landy has also stood up against rent control, see that, linked here.

 

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Speaking of post-production, a call from a legal operation today that came to MHProNews may signal a new legal issue over the horizon.  MHI was mentioned as part of that inbound phone conversation.  As information develops, and that may take time, the industry’s pros will want to know.  If you aren’t already on our industry-leading emailed news list, click here to sign up free in seconds.

 

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The UMH data is useful not only to investors, but to other industry professionals for a variety of reasons.

 

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It is also a reminder that while occupancy for manufactured home communities is rising – not only at UMH, but nationally too – it foreshadows a coming ‘wall’ for producers, if the industry’s leaders fail to address the numerous SWOT issues that MHProNews and/or the Manufactured Housing Association for Regulatory Reform (MHARR) have raised for years.

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Some of these topics are not raised by other in industry trade media. Why not?  Is it because it would prove embarrassing for the Manufactured Housing Institute (MHI), which other publishers are often paid mouth-pieces for – via ads or other gimmies?

 

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Speaking of MHI, almost a week has gone by since MHARR published an update from HUD about an issue that MHI was also advised of by HUD.  Why didn’t MHI email their own members?  They’ve sent out other messages, why not on this topic of interest to retailers and communities?  ICYMI, or need a refresher, see the linked report, below.

 

HUD “Clarification” on Frost-Free IB Offers More Questions and Confusion Than Answers

 

The potential for growth in manufactured housing is nothing short of astonishing.  But so long as short sighted, gutless, red-herring, fig-leaf, and/or manipulative strategies are in place that harm smaller firms to the long-term gain of ‘big boy’ producers, the industry will remain limited.

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That’s avoidable for individual firms. As UMH President Landy has said to MHProNews, it is up to individual companies to do their own marketing and sales.

 

 

The video above opens with a UMH community manager, who praised the energy and insight brought to this industry by our publisher.

As a disclosure, the data from UMH hereby presented are not a specific recommendation.  The screen captures shown are some key points, but the entire IR presentation is located at this link here as a download. We hold no position in UMH, or other companies that are among the tracked stocks presented each business day’s evening.

The closing numbers on UMH, as well as all other manufactured home communities, and manufactured industry, tracked stocks are found at this link here.  The closing ticker graphic shows the 52 week trend, and the daily moves can be monitored nightly in our exclusive reports.

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Related Reports:

UMH President and CEO, Sam Landy on Rent Control, Manufactured Home Communities

 

Hundreds of New Manufactured Home Communities Opened, But How Many Have Closed? Industry Research Result$

 

SWOT – Threats to Manufactured Home Communities, Retailers, Independent Producers, and Others in MHVille

 

 

 

Follow the Money – Surprising, Inconvenient Truths Impact Manufactured Housing, U.S. Economy, and More

August 30th, 2018 Comments off
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Left to right, George Soros, Tom Steyer and Caron Swain. Credits are as shown.

Hang onto your wallets. Industry professional and investors need to ask themselves, do they want a return to heavier regulations by HUD, or elsewhere?  There are serious issues on the line.  Spin, disinformation, conveniently overlooked history, and blatant lies are among the tools that could help-or-harm manufactured housing, workers, and professionals involved in business and investing.

 

Billionaire donors George Soros and Tom Steyer are directing $650,000 to [Andrew] Gillum’s political committee, Forward Florida,” reported Tampa Bay, just days before the election which resulted in an upset win in the Democratic side of the primary.

Hedge fund billionaire Tom Steyer,” said left-of-center Politico, put millions into the 2016 campaign, usually in favor of Democratic candidates. Steyer and Soros hold similar positions, as their support for “Democratic Socialist” Gillum underscores.  Steyer and Soros made their money as capitalists, so why are they keeping their wealth, and only using part of it to back socialists?  Isn’t that an arguably hypocritical disconnect?  Or does their politics point to something else?

Gillum, as the Daily Business News on MHProNews reported, won an upset victory in the Democratic primary, and will be facing off in Florida – the #3 manufactured housing state in recent years – for governor of the Sunshine State.  In the linked report with photo below, Congressman Ron DeSantis is on the left, and Mayor Andrew Gillum is on the right.

Epic Battle for MHVille Mainstay Looms, With “Not the Most Popular Guy” and His Rival

Soros is pro-open borders.  He’s long been a strong supporter of leftist causes and politicians, as a prior Daily Business News report reflected.

http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/follow-the-money-100s-of-immigration-protests-moveon-george-soros-the-border-mexicos-amlo-and-manufactured-housing/

Within hours of their victories, Gillum went to the ‘race card’ accusing Congressman Ron DeSantis of using the term “monkey this up” as more of a “bull horn,” more than the “dog whistle” accusation made for alleged racism.

Really?  Was it racist when Barack Obama used the phrase?

Democrats have been known to MONKEY around with elections,” said Barack Obama Sep 4, 2008, per Me. C-SPAN quoted the former President Obama on Oct 21, 2016 saying, “so, I want to be honest, its not as if its just Republicans who monkey around with elections…”  The term “monkey around” is a neutral expression, which blacks – including the former POTUS Obama, and all other racial groups have used in the U.S. for decades.

But this faux issue is a reminder of what happens during campaign season. It’s common for many, not all, Democratic candidates to ‘play the race card.’ That’s not to excuse GOP canards, such as their traditional view on trade. But this latest Democratic allegation begs a look at some background, that sets the question of Democrats vs. the GOP and related racial issues into an accurate, historic context.

This video by professor Carol Swain at Vanderbilt University will be stunning to many, and will be unsurprising but useful to others. It’s already been viewed some 4.6 million times. Viewer ‘thumbs up’ on this date outscored thumbs down by about 10 to 1. That suggests it’s worth viewing.

 

For those who aren’t familiar with PragerU, conservative Jewish businessman Dennis Prager helped establish that wildly popular platform. PragerU has had a broader range of informed presenters like Steve Forbes, Sharyl Attkisson, Alan Dershowitz, Guy Benson, Ben Shapiro, David Clarke, Tammy Bruce, Dinesh D’Souza, Walter Williams, and Candace Owens among others.  Prager works with good presenters with often impressive credentials, as the screen capture from the PragerU presenter’s page reflects.

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The historical facts presented by Professor Swain are accurate. They are also politically inconvenient.

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As a disclaimer, keep in mind, MHProNews’ principals are not members of either major party. We are true political independents. Our friends and supporters include people of all political, ethnic, religious, and other groups. That said, we are editorially strong believers that the truth well told sets people free.

The nation watches the continued drift towards socialism among Democrats.  It’s exhibited by primary victories like Alexandria Ocasio-Cortez in New York, and Mayor Andrew Gilliam in FL. These are topics that have and will impact businesses. Moderate Democrats, like former Clinton advisor Doug Schoen, are begging their fellow party loyalists to reject that push to the socialist left.

Facts are facts. Facts and the truth may be inconvenient. But with an economy rapidly rising under the leadership of a former Democrat turned Republican – President Donald J. Trump – this is a good time to grasp what’s gone wrong in the past.  This is the time to make adjustments, and turn towards a brigher future founded on free enterprise. There is progress being made to an economy that increasingly works for all Americans.

Doug Schoen, Clinton Adviser, warns – “Democrats must advance an agenda…to create a society of opportunity for all – not guaranteed outcomes achieved through wealth redistribution.”

The Daily Business News and other features here on MHProNews has reported on related topics previously. Some examples are linked herein, or in the related reports, further below.

If you or a friend are members of either of the two political parties discussed in this video, the questions should be simple. Is the information accurate? What relevance does it have to the upcoming voting in November?  Do we want to let America buy into the lies that promoted the crisis in Venezuela?  Start sharing these ideas now.

The Ultimate Manufactured Home Industry Fact$, Data, and Insights – Bullets plus at-a-Glance Infographic

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Court Hands DOE Procedural Victory in Potentially Costly Manufactured Housing Energy Standards Case

August 21st, 2018 Comments off

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The court in the Sierra Club V. Perry case has handed DOE [Department of Energy] a procedural victory, for the moment, in the case brought by the Sierra Club, trying to force the Department to act on the MH energy rule,” said Mark Weiss, JD, President and CEO of the Manufactured Housing Association for Regulatory Reform.

 

After the Sierra Club filed its suit, DOE filed a motion contesting its standing to bring suit in this matter on behalf of its members,” stated Weiss, who is an attorney.

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Mark Weiss, President and CEO of the Manufactured Housing Association for Regulatory Reform (MHARR).

In comments about the ruling last week requested by the Daily Business News on MHProNews, Weiss also said that the “Sierra Club responded by filing an amended complaint (which it has a right to do), and filing a motion for partial summary judgment, essentially trying to leapfrog the standing issue and get an order stating that DOE violated the EISA [Energy Independence and Security Act of 2007] mandate to establish an MH energy standard within five years of passage.”

DOE then filed a motion to hold Sierra Club’s motion for partial summary judgment in abeyance, while the standing issue is addressed by the court,” Weiss’ play by play explained.

The court, last Thursday [8.16.2018], granted that DOE motion to hold consideration of Sierra Club’s motion for partial summary judgment in abeyance, as shown by the docket note below.  In the note, “plaintiff” refers to the Sierra Club, “defendant” refers to DOE.  This is positive news for the moment, but does not guarantee anything regarding the final outcome,” per Weiss.

It’s a positive step for the industry, which has had this potentially costly rule hanging overhead for years.

MHARR fought the DOE rule from the outset, but for years, the Manufactured Housing Institute (MHI) inexplicably supported standards third party research said could have added some $6,000 to a single section manufactured home.

After years of pushback by MHARR, the Small Business Administration, MHProNews, and other advocates for the industry, MHI finally flip-flopped on the issue last year.

Manufactured Housing Institute (MHI) Shifts on DOE Regulatory Rule, Report, Analysis

The Trump Administration’s administrative executive orders put a stop to the matter, until the Sierra Club suit has revived the matter.

 

In the District of Columbia District Court, Judge Emmet G Sullivan ruled as follows, per the Pacer Monitor.

“MINUTE ORDER granting27 defendant’s motion to hold in abeyance23 plaintiff’s motion for partial summary judgment. The Court has broad authority to control the disposition of the cases on its docket. See Landis v. N. Am. Co., 299 U.S. 248, 254-55 (1936). The Court cannot agree with plaintiff that allowing the parties to brief summary judgment maximizes efficiency, especially because the Court must first assure itself of jurisdiction. See, e.g., Furniture Brands Int’l Inc. v. U.S. Int’l Trade Comm’n, No. 11-202, 2011 WL 10959877, at *1 (D.D.C. Apr. 8, 2011) (“[St]aying further briefing of the plaintiff’s summary judgment motion will allow the parties to avoid the unnecessary expense, the undue burden, and the expenditure of time to brief a motion that the Court may not decide.”). Therefore, the Court DENIES WITHOUT PREJUDICE23 plaintiff’s motion for partial summary judgment. Plaintiff may refile its motion for summary judgment, assuming the Court denies the defendant’s pending motion to dismiss. Signed by Judge Emmet G. Sullivan on 8/16/2018. (lcegs3)” ## (News, analysis and commentary.)

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“RESTORING THE RULE OF LAW TO MANUFACTURED HOUSING REGULATION” – MH Leader Call to Action

July 10th, 2018 Comments off

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The rule of law, and the supremacy of law over the arbitrary whims of individuals who happen to wield government power, was a profound concern for the founders who debated and developed the Constitution of the United States. For over two centuries, legal scholars have pointed to the primacy of the “rule of law” in the system of limited government and defined powers established by the Constitution, stating, for example: “The rule of law may be the most significant and influential accomplishment of Western constitutional thinking. The very meaning and structure of our Constitution embody this principle. Nowhere expressed yet evident throughout the Constitution, this bedrock concept is the first principle on which the American legal and political system was built.”

   Mark Weiss, J.D., President and CEO of the Manufactured Housing Association for Regulatory Reform (MHARR).

 

 

MarkWeissJDPresidentCEOManufacturedHousingAssocRegulatoryReformDailyBusinessNewsMHProNewsFor too long, though, the rule of law, as envisioned by the nation’s founders, has been undermined, ignored, or bypassed by the so-called “Fourth Branch” of government – the permanent, overgrown and largely unaccountable bureaucracy that has ballooned within the federal government, often in concert with overpaid and largely unaccountable government contractors,” said Weiss in a MHARR release to the Daily Business News. 

While this is a major socio-political issue with ramifications that extend far beyond the scope of this column, federally-regulated manufactured housing faces challenges of its own regarding the rule of law, and with a new Administration – with a new regulatory philosophy — now in place, there is no time like the present to clearly address this issue within the unique context of manufactured housing regulation,” said Weiss.

In the manufactured housing arena, the most fundamental expression of the primacy of the rule of law is the Manufactured Housing Improvement Act of 2000,” Weiss said

It’s a theme that MHARR, and editorially MHProNews, have held for years. 

Indeed, the 2000 reform law is a direct outgrowth of – and a direct congressional response to and remedy for – administrative abuses that had piled-up within the federal manufactured housing program over the first quarter-century of its existence. These included, but by no means were limited to:

 

(1) de facto rulemaking by “interpretation;”

(2) circumventing, evading, or ignoring notice and comment requirements;

(3) abuses of the “Interpretive Bulletin” process;

(4) closed-door standards development activity;

(5) non-consensus standards development;

(6) contracting abuses resulting in a non-competitive, de facto “sole-source” program monitoring contract, the same monitoring contractor for the (now) entire 40-year-plus history of the program, and the delegation of governmental power to an unaccountable private entity; and

(7) activity to subvert the operation and objectivity of the former Manufactured Housing Advisory Council, and a host of other actions that undermined the basic fairness, reasonableness and, ultimately, legitimacy of the federal manufactured housing program.   

Weiss, an attorney known for being detail-oriented, got into the weeds in his analysis. 

He also commented on the “Deep State” style “subversion” of the HUD Code program. 

Just as importantly, through nearly every step of this decade-plus subversion of the 2000 reform law, “deep state” regulators at HUD have been aided and abetted by “institutional” program contractors – i.e., de facto sole-source contractors, such as the program monitoring contractor – which constitute a “deep state” of their very own, wielding unlawfully-delegated and largely unaccountable governmental power, together with a built-in incentive to continually expand both the scope and cost of regulation, thereby increasing their own power and influence and, not surprisingly, their contract revenues,” stated Weiss, adding that “This needless regulatory expansion, in itself, has excluded hundreds-of-thousands of Americans from the benefits of manufactured home ownership, based on studies conducted by the National Association of Home Builders (NAHB), and has unnecessarily slowed and stunted the industry’s recovery from its modern production low in 2009, disproportionately harming smaller industry businesses.  Nor does the industry itself escape part of the blame for this activity, as far too many of its largest corporate conglomerates – and their representatives — have provided protection and “cover” for the HUD status quo and program “leaders” who have gone to extraordinary lengths to undermine the most important elements of the 2000 reform law.” 

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The change in presidential administrations, however, has opened the door to potential remedies for this fundamentally lawless regulatory activity. In particular, the Trump Administration’s “top-to-bottom” review of HUD’s manufactured housing regulations and “regulatory activities,” under Executive Orders 13771 (“Reducing Regulation and Controlling Regulatory Costs”) and 13777 (“Enforcing the Regulatory Reform Agenda”) provides a viable basis for action to repeal both the 2010 HUD interpretive rule and the slew of “field guidance” and other sub-regulatory mandates issued by HUD based on the Department’s unlawful construction of section 604(b)(6),” wrote Weiss.    

And indeed, MHARR in its February 20, 2018 regulatory review comments to HUD, specifically urged the program to return to the rule of law, through the withdrawal of the 2010 interpretive rule and all of the program’s sub-regulatory mandates issued without MHCC consideration and notice and comment rulemaking.” 

This effort…received a major boost when the U.S. Department of Justice notified federal agencies, through memoranda issued on November 16, 2017 and January 25, 2018 that it would no longer enforce administrative “guidance” documents issued without notice and comment rulemaking.  In part, the Justice Department stated: “Guidance documents cannot create biding requirements that do not already exist by statute or regulation.  Accordingly … the [Justice] Department may not use its enforcement authority to effectively convert agency guidance documents into binding rules.  Likewise, Department litigators may not use noncompliance with guidance documents as a basis for proving violations of applicable law…” said MHARR’s president.

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Dog Whistles, as Epic Battle for Business Effecting Manufactured Housing, Others Looms

July 10th, 2018 Comments off

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As Campus Reform humorously pointed out, the battle over the next nominee to the Supreme Court of the United States began almost immediately after the announcement that Justice Anthony “Tony” Kennedy would retire.

 

While the manufactured home industry veteran did not mention SCOTUS or the vacancy, in what reads like an anticipatory statement, Mark Weiss, JD, President and CEO of the Manufactured Housing Association for Regulatory Reform (MHARR) said in a new article that it is time for a return to the rule of law, as it applies to manufactured housing. See that, linked here.

If certainty is an important issue for business and investing – and investors routinely tell MHProNews that it is – then dependability from the courts is a crucial issue for manufactured housing, and all others too.

Much of what has occurred in transforming American business and the legal landscape in recent decades has come from political and legal changes that flowed from Washington, D.C.

So like it or not, these issues matter to MHVille.

 

Increased Certainty for Business?

It is against a backdrop of certainty for business – rather than red herring issues like abortion, which even if someday it would be overturned, it would simply go back to the states – that this Daily Business News post examines the nomination of Judge Brett Kavanaugh.  He stated last night that “A judge must be independent and must interpret the law, not make the law. A judge must interpret statutes as written, and a judge must interpret the Constitution as written, informed by history and tradition and precedent.”

That is the essence of what certainty is. That a law means what it says, and thus provides certainty for business and all others. The rest are details and commentary.

Showing off their sometimes-subtle whit, right wing Breitbart – which provided some of the pull quotes used here – shared a video from left wing MSNBC to show their readers what Judge Kavanaugh had to say in his 8 minutes of initial fame. Our video will be from CSPAN.

 

 

Kavanaugh was a Bush Administration appointee to the U.S. Court of Appeals for the D.C. Circuit on May 30, 2006, per federal records.

Kavanaugh said, “The framers established that the Constitution is designed to secure the blessings of liberty. Justice Kennedy devoted his career to securing liberty. I am deeply honored to be nominated to fill his seat on the Supreme Court.”

The D.C. judge later added some of the most important talking points that will doubtlessly come up during his confirmation process, “My judicial philosophy is straightforward. A judge must be independent and must interpret the law, not make the law. A judge must interpret statutes as written, and a judge must interpret the Constitution as written, informed by history and tradition and precedent. For the past 11 years, I’ve taught hundreds of students, primarily at Harvard Law School. I teach that the Constitution’s separation of powers protects individual liberty, and I remain grateful to the dean who hired me, Justice Elena Kagan. As a judge, I hire four law clerks each year. I look for the best. My law clerks come from diverse backgrounds and points of view. I am proud that a majority of my law clerks have been women.”

 

The View from the Oval Office

In a release to the Daily Business News, the White House press room said last night that Kavanaugh was “the best of the best.”

NomineeAssociateJusticeBrettMKavanaughWhiteHouseDailyBusinessMHProNews

 

Campus Reform and Democratic Push Back

Millions will be spent by both major parties and their backers, primarily in battle ground states where Democrats have senators up for re-election this November in ‘red states’ that President Donald J. Trump won in 2016.

 

As MHProNews previously reported, several potential issues are expected to be heard by the U.S. Supreme Court in the coming years that will impact manufactured housing. So this business of certainty and following the law and Constitution matters.

The Importance for Businesses and Investors in Manufactured Housing for Selecting the Next Supreme Court Justice

 

The link to MH Industry attorney Kurt Kelley’s exclusive commentary to MHProNews on the importance of the vacant seat is above.

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Several issues that face manufactured housing are likely to end up at Supreme Court of the United States Certainty matters. See linked download, here.

 

Fannie Mae Touts MH Advantage Program, But Manufactured Housing Association Slams Plan as “Illegitimate,” “Bait and Switch”

June 5th, 2018 Comments off

FannieMaeIntroducingMHAdvantageManufacturedHomeLoanEvolvingWithIndustry

In a letter to the Manufactured Housing Institute (MHI) and Manufactured Housing Association for Regulatory Reform presidents, Jonathan Lawless, Vice President of Fannie Mae advised the two national trade associations of their news “MH Advantage” program for manufactured homes.

 

The opening from the letter from Lawless to the two national trade association CEOs opens as is shown below.

LawlessOpeningtoRichardJennisonMHIMarkWeissPresidentManufacturedHousingAssocRegulatoryReformMHARRDailyBUsinessNewsMHproNews550x505

Click here or below for the entire Fannie Mae letter to MHI and MHARR.

Rephrasing, manufactured homes that don’t fit the program won’t get financing.

The entire letter from Lawless, which was obtained by the Daily Business News, is linked above as a download.

Fannie Mae, as attentive MHProNews readers may recall, has drawn fire for being a member of MHI.

The GSEs have also been called out by House Financial Services Committee Chairman Jeb Hensarling for lobbying, a charge the federally regulated home finance giant denies.

Update on Fannie Mae Lobbying, and Manufactured Housing Controversy

A letter published by MHARR leaned into Lawless and Fannie Mae, saying the plan is not acceptable.

MarkWeissJDPresidentCEOManufacturedHousingAssocRegulatoryReformDailyBusinessNewsMHProNews“…the MH Advantage Initiative, both in its underlying concept and premise, is in fundamental conflict with the DTS mandate – and suffers from other fatal defects – which render it wholly unacceptable to MHARR.”

MHARR’s president – an attorney and multi-decade industry veteran – began to carve up the Lawless letter as follows.

In relevant part, your June 4, 2018 letter states: “MH Advantage homes [will] have design features – developed after consultation with a range of manufacturers – more often associated with site-built homes.” (Emphasis added). The purpose of DTS, however, is not to change the fundamental character of HUD-regulated manufactured housing to be more like site-built homes, or to funnel DTS-based financing to higher-cost homes that are not in the mainstream of affordable HUD Code manufactured housing production,” wrote Weiss.

The DTS mandate, rather, as MHARR has noted on multiple occasions, was enacted by Congress as:

(1)  a congressional finding that Fannie Mae (and Freddie Mac) have not — and still do not — properly serve the manufactured housing market and manufactured housing consumers, despite existing Charter obligations to support homeownership opportunities for very low, low and moderate-income Americans, as well as  

      (2) a remedy for that specific failure.”

Weiss said that the failure of the predecessor to this program, MH Select, completely missed the mark, saying: “As the abject failure of the earlier Fannie Mae “MH Select” program,” saying that no loans had been made under the prior program.  Weiss said, MH Select, “…resulting, according to available information, in exactly zero loans…”

Indeed, the fact that it has taken ten years to get even this far, after decades of failing to serve the manufactured housing market (as determined by Congress), shows that Fannie Mae has no real intent to comply with DTS as established and designed by Congress.”  HERA 2008 is the legislation that established the Duty to Serve (DTS) manufactured housing, and after a 10 years, and it is only now that a chattel lending program is being rolled out.

Instead, prejudice, discrimination and outright bias against those prospective homebuyers – who the GSEs were formed to serve and DTS was specifically enacted to serve and benefit – has been the hallmark of Fannie Mae (and Freddie Mac) policy for decades, leading to the DTS mandate in the first place,” said Weiss.

“…As such, this program does not constitute a legitimate implementation of DTS as much as a diversion, “bait and switch,” and illegitimate end-run around the consumers and policies that DTS was enacted in order to advance,” the Washington, D.C. based MHARR president said.

This circumvention of the purposes and objectives of DTS, moreover, does not even begin to address other significant competition-based concerns regarding the specifics of the MH Advantage Initiative, including compliance criteria that were developed behind closed doors, in closed proceedings accessible only to select participants (as determined by Fannie Mae); and — according to information available to MHARR, onerous energy requirements that have been advanced by the largest industry manufacturers from both a marketing and regulatory perspective, and specifically favor those manufacturers,” Weiss stated, adding, “Nor does any of this even begin to address the possible intersection between the MH Advantage Initiative and a secretive “new class” of manufactured homes being advanced by the same large manufacturers – and their trade organization, the Manufactured Housing Institute (MHI) – which supposedly was “well received by Fannie Mae and Freddie Mac.”

Perhaps to Weiss point, the Fannie Mae website features two photos with their public announcement of the program, both from the company that MHI’s chairman represents.

The “MH Advantage” Initiative, therefore, is less about implementing DTS for its intended beneficiaries than avoiding the type of market-significant securitization and secondary market support for mainstream, affordable manufactured housing that DTS was designed and intended to produce.  As such, it violates DTS and is wholly unacceptable to MHARR.”

 

The View of the Finance Fray from MHProNews…

The Daily Business News warned the industry months ago that the so-called “new class of homes” being promoted by MHI was potentially the latest “trojan horse” from MHI. The articles linked below can be read later, and are provided as a reference and for more details.  But

 

Manufactured Housing’s “Trojan Horse”

 

The Fannie Mae letter should heighten that concern, as those retailers, communities, and producers that don’t participate in a plan tailored to the “big boys” at MHI.

 

Secretive “NEW” Class of Manufactured Housing Raises Serious Concerns

 

As MHProNews has warned, there are potentially monopolistic implications from these actions.

 

Wisconsin Housing Alliance – an MHI ‘Affiliate’ – Amy Bliss’ Messages Raise New Anti-Trust Issue

Several pending reports related to this topic are on the horizon.  But the bottom line for now is that this move by Fannie Mae may signal yet another attempted end-around by larger MHI member companies aimed at smaller independent ones — and it may be happening with one or both GSEs assistance.

MHProNews has reached out to Fannie and MHI for comment. While there are many possibilities, based upon years of prior disappointments on DTS, this does not look promising. Time will tell, more to come. “We Provide, You Decide.” © ## (News, analysis, and commentary.)

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Related Reports:

Smoking Gun 3 – Warren Buffett, Kevin Clayton, Clayton Homes, 21st Mortgage Corp Tim Williams – Manufactured Home Lending, Sales Grab?

Duty To Serve, “Complete Waste of Time” per Tim Williams, CEO/21st Mortgage; POTUS Trump, Warren Buffett Insight$

Manufactured Housing – Regulatory, Other Roadblocks and Potential Solutions, Up for Growth Research, plus Urban Institute Report Revisited

President Trump Spotlights Factory Home Builder in Speech, Proven Promotion, Support of Industry Advancement

 

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Chairman Hensarling, Fannie Mae’s Latest “Backdoor Schemes,” Illegalities? MH Connections, Implications

May 19th, 2018 Comments off

ChairmanJebHensarlingFannieMaeLatestBackdoorSchemesIlelgalitiestManufacturedHousingIndustryDailyBusinessNewsMHProNews 

Late Friday, House Financial Services Committee Chairman Jeb Hensarling (R-TX) said that “high ranking Fannie Mae employees have been intentionally violating their government prohibition on lobbying through a series of secret meetings to remove the failed mortgage giant from federal oversight.”

 

According to Congressman Hensarling’s  statement to the Daily Business News, legal and ethical issues are at play in the latest controversy involving one – or more – of GSEs.

Attentive, long-term Daily Business News readers recall last year the editorial call by MHProNews for transparency, and the release of the minutes from closed door meetings between members of the Manufactured Housing Institute (MHI) and the Government Sponsored Enterprises (GSEs).

Neither MHI, nor the GSEs responded to those concerns by releasing said private meeting minutes.

Will Hensarling’s Friday warning prompt the parties to belatedly release their minutes? If not, what are the parties involved hiding?

 

Bloomberg Exposes Concerns

For nearly a decade, a top U.S. housing regulator has restricted Fannie Mae and Freddie Mac from trying to influence the raging debate over whether they should live or die,” said Bloomberg.

But despite those limits, a top Fannie Mae executive has done just that…Brian Brooks, Fannie’s general counsel, has a specific goal,” per Bloomberg, adding that “Brooks, who has ties to Treasury Secretary Steven Mnuchin, wants this done without the involvement of Congress, which has failed since the 2008 financial crisis to come up with a legislative fix for the mortgage giants.”

JebHensarlingChairmanHouseFinancialServicesCommitteR-TXWikiDailyBusinessNewsManufacturedHousingIndustryProNews

When Fannie Mae went broke, it came begging taxpayers for what has turned out to be $120.836 billion in federal bailouts so far.  As a condition of receiving those funds, Fannie Mae was explicitly prohibited from engaging in “all political activities—including all lobbying,” a prohibition which it is now being reported Fannie has deliberately violated,” Hensarling said.

 

Investigation Launched

If true, this violation is more than an outrage, it is a direct affront on taxpayers and the current structure of the federally-back conservatorship that has allowed Fannie Mae to operate for the last decade.  It is a slap in the face of taxpayers that Fannie Mae thinks it can take their money and blatantly ignore the rules that came with it.  The American people deserve better.  That’s why the Committee will be launching a full investigation into these allegations to identify those responsible and hold them accountable to taxpayers,” per Hensarling’s statement to the Daily Business News.

But we can’t stop there,” the Texas Congressman said. “In order to truly solve the problem of the broken GSE hybrid finance model, Congress must enact sustainable housing finance reform as soon as possible and once and for all get rid of any backdoor attempts to resurrect the old, failed ways of the past.”

Before the crisis, Fannie and Freddie commanded two of the most well-funded lobbying apparatuses in WashingtonBloomberg’s report said on the controversial topic.  “In addition to employing dozens of lobbyists, the companies funneled contributions to nonprofits and think tanks and pressured policy makers to abandon potential regulations or laws the companies thought would constrain them.”

 

Problematic History, Harmed MH and the Nation

Pre-2008 meltdown, Fannie and Freddie generously funded the lobbying of politicos, like then Congressman Barney Frank.   Chuck Schumer is among the names that comes up in the 3 minute 12 second video below, defending the GSEs as being safe and sound.

Congressman Frank and others returned the lobbying dollars from the GSEs with the favor of protection from calls to reform the mortgage giants.  Those lawmakers did so by delaying actions that could have mitigated – or perhaps avoid –  the meltdown that some warned were coming.

The video clip below is a reminder of the now-all-too-often forgotten history.

 

Depending upon how “lobbying” is defined, Fannie Mae could be in violation of lobbying with respect to the  manufactured housing industry.

How so?

Because Fannie is a member of the Manufactured Housing Institute (MHI), a trade group that does lobbying.

That MHI membership would appear on its face to be a conflict of interest for all involved.

Why?

Because if MHI is doing its job properly, it should have declined Fannie’s membership, to avoid even the appearance of a conflict of interest.

There could be ethical, and/or legal issues involved in the Fannie/MHI membership matter.

For instance, as the Manufactured Housing Association for Regulatory Reform (MHARR) president and CEO, Mark Weiss, JD, has said that ‘every day that the GSEs don’t robustly provide chattel and other lending under their Duty to Serve mandate to manufactured housing is a gift to Berkshire Hathaway’s manufactured housing lenders.’

MHARRMarkWeissIfCongressHadMeanttheDutytoServeToBeOptionItWouldNotHaveCalledItADutyDefintionofDutyIsMandatoryResponsibilityDailyBusinessNewsMHProNews

There is more involved in this developing controversy. Those related issues will be part of an upcoming Daily Business News report.

Stay tuned. ## (News, analysis and commentary.)

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Related Reports:

Manufactured Housing – Regulatory, Other Roadblocks and Potential Solutions, Up for Growth Research, plus Urban Institute Report Revisited

Smoking Gun 3 – Warren Buffett, Kevin Clayton, Clayton Homes, 21st Mortgage Corp Tim Williams – Manufactured Home Lending, Sales Grab?

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Who will replace Pam Danner at HUD’s Office of Manufactured Housing Programs?

May 17th, 2018 Comments off
GeorgeAllenPamDannerHUDCodeOfficeManufacturedHousingProgramsDailyBusinessNewsMHProNews

Photo credits are as shown, plus Vic DeRose photo from his law firm, Teresa Payne photo from Manufactured Home Living News, with Payne’s hands above and below the red HUD label on a manufactured home.

The Daily Business News can report that there are multiple candidates for the position vacated by the removal of Pam Danner at the Department of Housing and Urban Development (HUD) Office of Manufactured Housing Programs (OMHP).

 

According to the HUD website, the Mission of “The Office of Manufactured Housing Programs executes responsible regulation and solutions-oriented oversight and monitoring to protect consumers and preserve and promote the affordability, quality, durability, and safety of manufactured homes.  This office also provides technical assistance to Federal Housing Administration programs.”

The one candidate we are able to publicly name at this time is Vic DeRose.

At one point prior to Danner’s selection, DeRose was the “consensus candidate” openly advocated for by both national associations: the Manufactured Housing Association for Regulatory Reform (MHARR), and the Manufactured Housing Institute (MHI).

MHARR still supports DeRose, while MHI is characteristically mum on the topic, at least in public.

VictorAnthonyDeRoseDeRoseLawFirmVicDeRosePhotoDailyBusinessNewsManufacturedHousingIndustryMHProNews

As an attorney with a deep background in manufactured housing, DeRose would bring several useful experiences to the table at HUD. He is liked and respected, per industry sources.

Stating one or more names of others who are seeking the job of administrator over OMHP, or who are being promoted for the position by various interests, would de facto tend to reveal the source(s) for the information.

That said, it is fair to say that there is significant weight that could be thrown behind an alternative candidate to De Rose.

MHProNews know De Rose by reputation, including his deep family ties to the industry.

Industry sources tell MHProNews that De Rose comes highly recommended by those who know him.

 

The Word From HUD

The word heard from the halls at HUD is that no quick decision is going to be made to replace Danner.

As has been previously reported, Teresa Payne is temporarily in charge of the program there. HUD is still officially reviewing the input from public comments to HUD about the MH Program, requested earlier this year.

OfficeofManufacturedHousingProgramsTeresaPayneIshbelDIckensPamelaBeckDannerHUD-ManufacturedHousingIndustryDailyBusinessNewsMHProNews

While De Rose, per our sources, would be a far better leader for the program – especially when compared to what was widely seen by industry professionals as the disastrous years under Danner – sources say it is far from certain that he will get the nod.

What is sure is that the Danner years – which Secretary Carson may have had in mind when he called some of the regulations over manufactured housing “ridiculous” – should serve as a reminder to the industry of just how problematic it is to have the wrong person in that critical role.

MHProNews will continue to monitor the developing situation. Some related back stories regarding Danner are found or linked in the report below. ##  (News, analysis and commentary.)

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Related Reports:

Greener, Stylish Manufactured Homes – Hidden Facts in the Washington Post Manufactured Housing Narrative

Exclusive – HUD’s Manufactured Housing Program Administrator Pam Danner, Update

 

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U.S. Housing Trends and Manufactured Housing, Investor Data

April 19th, 2018 Comments off

USHousingTrendsandManufacturedHousingInvestorDataUMHDailyBusinessNewsMHProNews

Publicly traded companies often prepare graphically rich, and insight laden information in their investor relations (IR) presentations.

 

This snapshot here is from UMH Properties (UMH) latest IR presentation.

FavorableUSHousingTrendsManufacturedHomeDailyBusinessNewsMHProNews

UMH is one of the largest community operators in the U.S. They are identified as a Real Estate Investment Trust (REIT) in the manufactured home community (MHC) space.

UMHPropertiesManufacturedHomeCommunityInvestorPresentationManufacturedHousingIndustryDailyBusinessNewsMHProNEws

UMH also operate some retail centers, which their president Sam Landy, JD, mentions as underperforming in video interviews conducted last year. Those videos with their CEO are linked below.

UMHPropertiesCompanyGrowthChartManufacturedHomeCommunitiesIndustryInvestorRelationsDataDailyBusinessNewsMHProNewsUMHPropertiesBalanceSheetMetricsChartManufacturedHomeCommunitiesIndustryInvestorRelationsDataDailyBusinessNewsMHProNewsTheir latest presentation presents some information that is intended to highlight the opportunities and appeal of manufactured homes in the current economic and housing climate.

UMHPropertiesPorfolioGrowthChartManufacturedHomeCommunitiesIndustryInvestorRelationsDataDailyBusinessNewsMHProNewsUMHPropertiesPaceofAquisitionsManufacturedHomeCommunitiesIndustryInvestorRelationsDataDailyBusinessNewsMHProNews

 

UMH’s presentation naturally provides reasons why they believe that they’re particularly well suited for an investor to consider.

UMHPropertiesFinancialHighlightsManufacturedHomeCommunitiesIndustryInvestorRelationsDataDailyBusinessNewsMHProNewsUMHPropertiesSalesFinanceManufacturedHomeCommunitiesIndustryInvestorRelationsDataDailyBusinessNewsMHProNews

It should be noted, as a disclosure, that the Daily Business News’ parent company and owners hold no stock in any manufactured home operation.

UMHPropertiesLoanPortfolioManufacturedHomeCommunitiesIndustryInvestorRelationsDataDailyBusinessNewsMHProNewsUMHPropertiesSamePropertyNetOperatingIncomeManufacturedHomeCommunitiesIndustryInvestorRelationsDataDailyBusinessNewsMHProNews

There is steady growth in recovery of the industry, as the charts below reflects.

2008to2017HUDCodeManufacturedHomeProductionTotalsMHARRManufacturedHousingAssocReglatoryReformDailyBusinessNewsMHProNews

ManufacturedHousingIndustryShipmentsFEMAManufacturedHomesNotMobileHomesTrailersIndustryResearchReportsDataMHProNews

Credits, MHI, Cavco.

But the realities about manufactured housing indeed should reveal reasons why the industry ought to be roaring.

“Trailer House Trauma,” Fresh Look at Manufactured Housing’s Opportunities

UMHPropertiesValueAddedAquistionsManufacturedHomeCommunitiesIndustryInvestorRelationsDataDailyBusinessNewsMHProNewsUMHPropertiesstreetViewManufacturedHousingINdustryDailyBusinessNewsMHProNEws

RVs are outselling manufactured homes by some 5 to 1. Yet, even the lowest cost towable RVs are costlier per square foot than a typical manufactured home.  RVs are a luxury item for most, while manufactured homes are a permanent housing option.

Manufactured Housing – Regulatory, Other Roadblocks and Potential Solutions, Up for Growth Research, plus Urban Institute Report Revisited

The new 2018 Up for Growth study reveals just a great the need is for new homes. For more on that, and the realities of why manufactured housing has not yet robustly tapped those new home sales opportunities, click the related report, linked above. ## (News, analysis, and commentary.)

(Third party images are provided under fair use guidelines.)

Related Reports:

Sun Communities Annual Data and Manufactured Housing Industry Investor Presentation Highlights

Investors’ View of Manufactured Housing Industry Production & Retail – Cavco Industries (CVCO)

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“Move, Open, Live” De Rose Industries & Senator Thom Tillis’ Mobile Home Comments

April 4th, 2018 Comments off
MoveOpenLiveThomTillisMobileHomeComments

A Detroiter model mobile home with a “bump out.”

When U.S. Senator Thom Tillis (R-NC) spoke at an oversight hearing with HUD Secretary Ben Carson about a “mobile home” with a “bump out,” likely few understood just how keen an insight that statement was.

 

Back in the pre-HUD Code days of the factory-built home industry – prior to June 15, 1976 – there were mobile home models that had “pull outs,” “expando room” or “bump outs.”  It is likely that Tillis’ personal experience with that which prompted his timely “walk down memory lane.”

Consider those mobile home era “bump outs” as similar to the slide outs found in RVs, only in mobile homes, they were routinely larger.

Bump outs, slide outs, and ”tip outs” existed in the early manufactured home era too.  But they were largely supplanted by the advent of multi-sectional so-called “double-wides” and “triple-wides.”

ClassicDeRoseIndustriesMobileHomeManufactruredHousingIndustryDailyBusinessNewsMHProNews_001

The images of classic ads and reports above and below, all found on Pinterest and are sourced as noted.

TrailerHouseMobileHomeManufacturedHomeFactoryBuiltHousingEvolution101MHProNews-MHLivingNews

These images provide several insights relevant to the manufactured housing industry today. Consider these bullets:

DoubleDeckerMobileHome10WideVintagePrincessOldMobileHomesTrailManufacturedHousingIndustryDailyBusinessNewsMHProNews422GoBigTrotwoodResdientialMobileHomesWithBumpOutSlideOutClassicMobileHomeManufacturedHousingIndustryDailyBusinessNewsMHProNews412x1517

  • Mobile homes – housing units on frames built prior to June 15, 2976 – were statistically more accepted then than manufactured homes are today. There’s an open question on why, which the Urban Institute, this publication and others have asked (for more on UI, and that question, click the related reports, below.)
  • Mobile homes had greater diversity than there is found in manufactured homes today.
  • Mobile homes had more manufacturers by far than there are found in the manufactured home industry today.
  • Mobile home leaders organized and promoted the creation of the HUD Code, following highly public scandals with substandard homes built by a few producers that quality builders didn’t want to be associated with. The HUD Code grew out of a desire to set construction standards, safety and energy standards for manufactured homes that would give consumers confidence, while avoiding the placement hassles that have sadly become so common today.

The history of the mobile home and manufactured home (MH) industry is fading, and that is problematic.

Because without an accurate industry history, a complete understanding of just how important this type of housing used to be, and how it helped create affordability then – and could again today – holds valuable insights.

Prior to the HUD Code, HUD studied factory home building – “industrialized housing” – with enthusiasm. What happened to that enthusiasm since the creation of the HUD Code?

Will Secretary Carson – who praised HUD Code manufactured homes when Senator Tillis’ question promoted a response – fuel a rebirth of that embrace by HUD of reasonable regulations that help promote practical housing solutions?

How many in government – or industry – today realize that when the industry had a wealth of producers, there were also a far wider variety of styles, types, innovations and models that industry contraction has arguably practically cut off?

More such factory home producers also yielded more acceptance, because each producer were naturally marketing their product, as the story and ads reflect.

 

About De Rose – It’s Worth Noting…

Vic De Rose, an attorney who was jointly recommended by the Manufactured Housing Institute (MHI) and the Manufactured Housing Association for Regulatory Reform (MHARR) is from the family whose name the De Rose Industries of yesteryear recalls.   De Rose has insights on factory-home building that the vast majority of the population – including most regulators – do not have.

The De Rose ad touts the message, “Move. Open. Live.”  It’s quality, affordable housing in a hurry, as popular performer and manufactured home owner Kid Rock observed in an interview last year.

SenatorJoeDonnellySupportVicDeRoseJDManufacturedHouisngIndustryDailyBusinessNewsMHProNewsVictorAnthonyDeRoseDeRoseLawFirmPhotoDailyBusinessNewsManufacturedHousingIndustryMHProNews

HUD has been silent on the subject of who is going to replace Pam Danner.  There is speculation that an announcement could take place later this month. If that’s so, it may be a troubling signal for the industry if it takes place in conjunction with a planned appearance by Secretary Carson with MHI’s Las Vegas event.  “We Provide, You Decide.” © ## (News, analysis and commentary.)

Related Reports:

HUD Secretary Ben Carson and Senator Thom Tillis Discuss Affordable Housing and Manufactured Homes, Video

“Po-Dunk” Performer Kid Rock, Eyes Senate Run, Makes Manufactured Home Living Hip

Documented Results from Manufactured Housing Industry Leadership

(Third party images are provided under fair use guidelines.)

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