Posts Tagged ‘sellers’

Loan Zone Manufactured Home Buyers, Sellers – CU Insight on Fannie, Freddie and Duty to Serve Manufactured Housing Industry

August 3rd, 2018 Comments off

Original photo, CU Insight, added graphics, texts, MHProNews.

Despite news reports that Fannie Mae and Freddie Mac will start pilot programs for chattel manufactured home loans, don’t look for a big move by them any time soon in this arena,” said the CU Insight yesterday.

The CU Insight’s about us page says, “…is the place for all things credit union. We are the leading digital source connecting the credit union community to news, opinion, press…” – in short, its their communication platform with media, credit unions and their members.

That slowness [by the GSEs] is unfortunate because manufactured homes could be a key component to solving the problem of affordable housing in this country,” said the credit union group’s publication. “Creating a secondary market for these loans would make it possible for more lenders to provide them. And a large number of people could potentially benefit.  The GSEs re-entering the space, also gives the this loan type more credibility as a secondary market investment product.”

In short, the credit unions are politely sounding frustrated with the GSEs, and by extension, the FHFA.

This column by Chuck Smith with CU Management, specifically mentions Credit Human, previously known as San Antonio Credit Union,, which is perhaps the largest credit union serving the manufactured housing industry, although there are many others, including the one shown in the interview below.


Another Fact Error? 

According to the latest figures published by the U.S. Census Bureau, 18 million Americans live in a manufactured home.” The more common figure is 22 million, see the below.

Fresh Facts, Figures, Future of Affordable Housing -Comparisons- Conventional Site-Built v Mobile/Manufactured Home Industry Data

Sales had been in a steady decline from the highs of around 370,000 in 1998,” said Smith. “The lowest years on record with the U.S. Department of Housing and Urban Development were 2009-2010 with around 50,000 annual sales. There were approximately 93,000 units sold in 2017. Approximately 80 percent of new manufactured homes sold are titled as “chattel,” which means an item of property other than real estate. About 35 percent of those are placed in manufactured home communities and 65 percent are placed on privately owned land. The average sales price in December 2017 was $53,400 for a single-wide unit and $92,800 for a multi-sectional.” Most of that is close, but once more, see the linked report above for the latest fact-checked data.

Smith’s next line is polite, but still wags a finger at the GSEs again.

The two government-sponsored enterprises are mandated by the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended by the Housing and Economic Recovery Act of 2008, to provide mortgage financing for residential properties that serve low- to moderate-income families. This is a market that some credit unions and CUSOs are very familiar and have been serving since their inception. $2.9 billion Credit Human Federal Credit Union, San Antonio, is one of the top chattel lenders in the country.”


Collage by MHProNews.

Some of the above might have been written by Mark Weiss at MHARR, or MHProNews, or the growing array of voices that believe that the DTS process was hijacked and sidelined.  See the related reports, linked below.  To join our robust, industry-leading emailed headline news, click the link below. “We Provide, You Decide.” © ## (News, analysis, and commentary.)

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SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and

Related Reports:

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


“Take the MH Advantage Challenge – Can You Tell the Difference?” Fisk of Sarah Edelman, Director of Duty to Serve, Single-Family Mortgage Business for Fannie Mae

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


Update on Fannie Mae Lobbying, and Manufactured Housing Controversy


Secretive “NEW” Class of Manufactured Housing Raises Serious Concerns



State Moves to Ease Restrictions on MH Sellers

May 5th, 2017 Comments off

A manufactured home in Arizona. Credit: Casa Del Sol Resort East.

The state of Arizona has taken steps to ease restrictions on the transfer of manufactured homes to simplify the process for potential sellers.

According to the Arizona Business Daily, the decision is tied to an effort to better compete with surrounding states in the manufactured home sales sector. Until the move at the end of March, anyone who wanted to sell a manufactured home was required to obtain a separate broker or dealer license from the Arizona Department of Housing (ADH) Manufactured Housing Division.

The Arizona Association of Realtors says that there are very few ADH licensed dealers remaining in the state, and that many sellers found themselves on the wrong side of deeply discounted prices in other states, where sellers fared better.

The measure will permit a real estate broker or salesperson to perform sales duties on behalf of a licensed manufactured housing dealer for units located in a mobile home park if the dealer complies with required fees and paperwork,” the associate said in a statement.

Additionally, such a professional will be allowed to act on behalf of a private party as long as the person remains in compliance with the Arizona Department of Real Estate.”

The legislation for the action, HB 2072, was introduced by state representative Jeff Weninger (R-Chandler) and Arizona Governor Doug Ducey signed the bill into law in late March. It is slated to become effective later this year.

As Daily Business News readers are aware, manufactured housing continues to provide a cost effective and efficient solution to affordable housing with high quality.

The Manufactured Housing Association for Regulatory Reform (MHARR) tells MHProNews that, according to official statistics compiled on behalf of the U.S. Department of Housing and Urban Development (HUD), year-over-year manufactured housing industry production increased substantially again during March 2017.

These statistics indicate that HUD Code manufacturers produced 8,245 homes in March 2017, a nearly 16 percent increase over the 7,110 HUD Code homes produced during March 2016.

Cumulative industry production for 2017 now totals 23,384 homes, a 22.4 percent increase over the 19,101 HUD Code homes produced over the same period in 2016. The full report is linked here. ##


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RC Williams, MHProNews.

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

U.S. Winning on Jobs, plus Dow Jones Milestones Chart

December 28th, 2016 Comments off

Photo credits, Reuters..

Fox Business and CNBC were among the networks that carried the news that president-elect Donald J. Trump has been assured by Spring that they will be brining 5,000 jobs back to the U.S. This continues a pattern of other job creating or saving announcements, including:

  • Dec 14, 2016 -SoftBank Telecommunications: 50,000 Jobs.
  • Nov 30, 2016 – could save 1000 jobs Carrier employees in Indianapolis thought were going to Mexico.

Manufactured housing, as is true of all big-ticket industries, benefit by the creation of new jobs.  Besides those shown, are those planned in oil and gas, and other energy sectors, such as the coal mining industry.

The so-called “Trump effect” or “Trump-bump” on the markets has market watchers discussing when the Dow will burst the 20,000 milestone.

Fox Business has speculated that bringing these jobs to the U.S. may signal that Sprint, T-Mobile and the Trump transition team have come to an agreement about a future merger.

As 20,000 Dow Is In Sight, Dow History in One Graphic

MarketWatch created the chart below, which reflects the history of the Dow in one infographic.


Image credit, MarketWatch. To see today’s closing numbers on Manufactured Housing Connected stocks, please click here.


Juanita Duggan, President and CEO of the National Federation of Independent Business (credit, NFIB).

Juanita Duggan, President and CEO of the National Federation of Independent Business (NFIB). “Before Election Day small business owners’ optimism was flat, and after Election Day it soared.” The Daily Business News reported on the NFIB’s small business confidence survey – the source of the quote above and linked here – which had a big post-election boost.

The Daily Business News will continue to monitor the pro-business market trends that are taking shape as the incoming Trump administration prepares to take office on January 20th, 2017. ##

(Image credits are as shown above.)


Soheyla Kovach.

Submitted by Soheyla Kovach to the Daily Business News on MHProNews.