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A Much Better Way for FEMA, Taxpayers, Says Manufactured Home Industry Professional

September 17th, 2017 No comments

I expect that all manufacturers, while agreeing with The Stafford Act, believe there is a much better way. Respect for the taxpayer certainly does not appear considered with many government purchases. 

To serve those affected by disaster, we should, but most believe we can:

Save the taxpayer money with an adjusted set of requirements, to build MHU units via the HUD code but omit the sprinkler system requirement and many other overreaching requirements. The savings are significant.

ControversiesErruptFEMAPressesHUDCodeBuildersManufacturedHomeRetailersIndustryProsReactMHProNews

These comments were shared in response to the story linked above, click for details. Off the record comments are a time-honored tradition in media, which we respect. Naturally, MHProNews routinely seeks to discern how valid (or not) a claim may be, and strives to publish only those that meets that discernment process standards. 

Save the taxpayer money by eliminating the need for storage yards through the ability to build with inventory manufacturers know they can procure and build almost immediately. The units could go immediately to FEMAs set disaster location and be immediately deployed. The savings could be significant.

Save the taxpayer money by disallowing MHU units to be pulled wherever, whenever and back again. With the ability to expedite production, this unnecessary transportation can go away. The savings could be significant

Save the taxpayer money through a warranty provision that is not punitive for minor cosmetics. Who cares? What family would be ungrateful for an MHU unit with A few blemishes? The savings to FEMA, would be significant. Manufacturers would not have to hedge.

Save the taxpayer money by streamlining the inspection processes, the IPIAs that are trusted to inspect/approve our industry’s homes that are bought by hardworking Americans with lenders respecting the loans should be able to inspect Temporary housing units. The savings would be significant.

Establish a requirement for care by the residents occupying the unit to protect it, just like any landlord might do. Design the floor plans for resale where the loss for purchase to liquidation is not so excessive.

There is much, much more that could be considered.

It is not FEMA’s money. It is the taxpayers. I believe our industry believes in a better way!

Please keep me off the record. Thanks.” ##

DefiningSICinJournalismDailyBusinessNewsMHProNews-com

iReportManufacturedHomeHousingIndustryMHProNewsTipsLogoGraphic(Editor’s Note: the above is from a respected veteran of the manufactured housing industry known by this publisher.  It came in response to the report linked here. Due to the sensitive nature of his role, he has requested anonymity, which we routinely honor.  The typos are in the original, and we opted not to use the SIC graphic where they occurred. There will be a follow up report on the Daily Business News on a related issue Monday morning, Sept 17, at about 3:04 PM ET. Other reports will follow. )

Manufactured Housing Poised for Louisiana Flood Recovery Efforts

August 25th, 2016 No comments

The number of people in Louisiana that have been driven from their homes during the flood is staggering.  There is no question that most will rebuild.  The people of Louisiana are tenacious and because our factories are outside the flood area, the manufactured housing industry has a chance help speed the recovery.

Our industry can provide an option of green, great-looking, cost-effective homes that can be delivered in weeks – not months.

JohnBostickPresidentSunshineHomesRedBayAL-OurIndustryProvidesGreenAppealingOptionsWeeksNotMonths-DailyBusinessNews-MHProNews

Our industry has the ability to help the good people of Louisiana put their lives back in order in an expedient manner. ##

(Editor’s Note: this letter was sent in response to the tragic flooding in Louisiana, widely reported in the media and on the Daily Business News, including the latest, linked here.)

john-bostick-president-ceo-sunshine-homesINCRedBayAL-DailyBusinessNews-mhpronews-comJohn Bostick
President and CEO
Sunshine Homes, Red Bay, AL

Proposed Austin Area Manufactured Home Community Blocked – TMHA’s DJ Pendlenton’s Reaction

July 22nd, 2016 No comments

This is an unfortunate outcome.  Here was a situation that seems to be a perfect fit for a new manufactured home community development.  The 10 acres in question residing in the city are attached to 50 more acres in the county – where it is anticipated that the property owner will create a new community anyway – at least according to one of the commissioners. 

The Cactus Rose community in Austin has grabbed headlines and sparked all manner of reactions from the media and politicians, including efforts to now include manufactured home tenants in a Tenant Relocation Project the city is working on. 

Here is an owner that would accept the displaced residents, which up until now there are no other options for them and a clear unwillingness by the city to lift zoning prohibitions elsewhere or create a new community with city land. 

However, this solution was rejected by advocates of Cactus Rose due to lack of public transportation, presumably hoping to hold out and continue to leverage their situation to get a bigger buyout or dedicated land from the city they deem acceptable.

DeValleNeighborsLobbyAgainstMobileHomePark-graphicCredit-AustinMonitor-postedTMHAsDJPendletonIndustryVoicesMHProNews-

Graphic collage credits, top image/headline – Austin Monitor. Bottom photo/text – MHProNews.com.  See related story, linked here.

The blatant pre-textual reasons provided by those who testified against and voiced by some of the commissioners, while frustrating and illogically, are sadly nothing new. 

Citing concerns over flooding because the engineer told a nearby homeowner they would be “re-grading” the land, increased traffic congestion, and taxing a nearby school that is already at capacity, can seem reasonable out of context. 

Trouble is many of these same opposing views were fine with single family (housing), or as one commissioner mentioned, multifamily projects for the exact same 10 acres. 

Any of the alternatives that are deemed acceptable would have the same impact on land topography changes, and increased traffic and school congestion.  If these are in fact the concerns, then logically the only thing they should have been advocating for or acceptable with is no development ever of any kind. 

As pointed out in the article, it can appear traffic, schools and flooding were the issues presented, but what was really driving those in opposition were not those issues.  They were opposed to the people they stereotyped in a public meeting that they thought they could expect to move near them, because they viewed those people as bringing increased crime and vandalism. 

Like for so many diversified housing development decisions that fall short politically, not from logic or sound argument, but rather those who would tell you they are for affordable housing options, just Not-In-My-Back-Yard (NIMBY-ism). ##

dj-pendleton-mhpronews-com-executive-director-texas-manufactured-housing-association-DJ Pendleton
Executive Director
Texas Manufactured Housing Association (TMHA)

A High Level Manufactured Housing Professional Information Source

May 27th, 2016 No comments

Tony,
May I congratulate you and your staff for producing such a high level information source for our oft maligned industry.

For the past year and a half, I have been recommending it to all my new and current clients.  I trust others in the factory built housing industry recognize your timely and significant contribution. ##

EddieHicksManufacturedHousingExpert-IndustryVoicesGuestBlogMHProNews-69x69-Edward “Eddie” Hicks
www.factorybuilthome.com
www.mobilehomepark.com 

mhpronews-logo-dropshadow-manufactured-home-pro-news-logo

 

Editor’s Note: numerous kind words come to MHProNews and MHLivingNews on a regular basis, and our team certainly appreciates the feedback in person or by phone, email, LinkedIn, text, etc..  This particular comment was shared by industry veteran Eddie Hicks with the desire to have it published, which we are hereby doing, with our team’s thanks.

MatthewSilverJanHollingsworthCharlesDrake-MHProNews-comMHLivingNewsInsideMH-

 

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Marty Lavin’s Views on Seattle Times-BuzzFeed Clayton Homes VMF-21st Controversy

January 15th, 2016 No comments

Phew! After reading the Seattle Times news article on Clayton Homes and Vanderbilt Mortgage, I am reminded of a scene in the movie, “No Country for Old Men.” In it, the deputy after viewing a horrific scene, says to the sheriff, “That’s quite a mess ain’t it, sheriff?And he replies, “If it ain’t, it’ll do till the mess gets here.

I also read Clayton’s response to the article and that sheds some light on the matter.

As an example, anyone with rudimentary loan knowledge knows well that just because a person who is of color makes $100,000 per year and pays a greater interest rate than a white making $35,000 per year, that of itself is not racist per se. Lenders look at demonstrated ability and desire to meet loan commitments, which are not locked to income. The better the payment record, the lower the rate. That is what drives the interest rate once loan qualification is determined.

The article surely knows this as it is hinted upon, but it destroys the tenor of the piece about racism and unethical and unlawful behavior by Clayton, if revealed.

I do not know Warren Buffett other than what I learn in the media. I have generally been very positive on Buffett, though I am taken aback by his support for a president with obviously anti-capitalist actions and leanings. But then I am reminded Berkshire-Hathaway has many companies that could be brought to their knees by IRS probes, EPA investigations, and the like by an unfriendly president. Further, government can do things to you and for you. Above all, I think Buffett has not only been smart, successful, and ethical, he is also a pragmatic soul. You can’t do what he has done without being highly pragmatic, so I give him a pass on Obama support. 

Now as to Kevin Clayton, I personally know him, like him and hold him in high regard.

I have a very hard time seeing the Kevin I know supporting some of the racist actions described in the account. While there are too many incidents to overlook, I do not believe the people I know at Clayton/Vanderbilt would initiate or condone the racist behavior alleged in the article.

If for no other reason, the folks at leadership there are flinty-eyed businessmen, and they know that in today’s world a southern US company building and selling low-cost housing to many minorities and low income individuals will be rigorously regulated by government and the all-powerful non-profits. This is especially true when you are building and financing that old bugaboo, manufactured housing.

I do not sit in the Clayton/Vanderbilt board room. I have no “insider” take on this situation. My opinions hinge mostly on accounts in the media.

But I would offer this takeaway, were I to be asked. A company as large and important in its disliked industry as Clayton is, will be a target for strict compliance with every law and rule and if destruction can be brought about of the entity, so much the better. The rules being written by the CFPB and others are not only meant to regulate with ever moving targets, if it leads to business emasculation of the companies and the industry itself, few tears would be shed in DC and elsewhere. 

Some of the animus held against MH is deserved, and incidents as reported in the Seattle News story build on that animus. That is much of the tale here and the news account is prepared to report without revealing any details harmful to its tenor.

It does, however, leave unanswered the steps Clayton could take to create positive change in the organization. No matter how exaggerated the racist incidents regarding employees are in the news account, there certainly seems something is going on internally at Clayton/Vanderbilt. I’m not sure a mere denial is sufficient.

The employee to employee incidents of the type alleged must be ruthlessly quashed, little leeway given upon employee complaint, a quick internal investigation by experts at first complaint, and a quick decision based on the best information as to fault. Any superior allowing or contributing to such prohibited behavior gets one warning and fired upon the next, no matter who it is. This starts at the top and such behavior not only is illegal and wrong, it is poor business to allow it to happen, creating internal disharmony. It also leads to formal regulatory complaints no one wants to face.

Racist disrespect of customers or borrowers is even worse than employee to employee incidents. An employee has the option to leave a disrespectful business environment. A customer with a 20 year loan behind on their payments, struggling to meet them, needs to be handled firmly, but strictly within the law. Any collection supervisor allowing or suggesting disrespectful collection calls can not continue to allow such behavior from agents, and should it continue, warning and firing is the answer. Assuming Clayton is recording all calls with consumers, a sample listen-to of some calls daily will quickly reveal whether these allegations bear any truth.

Clayton is the wonder of the industry, wonderfully profitable in an industry little accustomed to such success. My 35 year familiarity with the organization has seen them as highly motivated, perhaps in the extreme, Kinda peeking out of the news account are people in an organization prepared to push the envelope to meet business goals or the keep their job, or even to avoid ridicule or censure.

Don’t get me wrong, I am a strong believer in firm performance requirements for associates, with rewards for successful performance, dislike of failure, with training and guidance to correct poor performance, ended by firing for continued lack of success or effort. But one senses the pressure to succeed seems to be driving some people to violate company procedures to reach their goals, even though the associate probably knows it is acting improperly. That’s too much pressure.

With the animus directed at manufactured housing by the media, government, the non-profits and regulatory statutory edicts, its dangerous to tread too close to news accounts like this. This can lead to the drip-drip-drip of continued news accounts, more regulation, more charges and the severe impairment of a company. Who wants to get to work with a rabble of protestors marching in front of the Maryville office with “Clayton Loans Matter” signs? 

Now that the media is chasing Buffett for answers, my fear has been that he would be so hounded defending Clayton, that at some point the $500 million in annual profits might seem like insufficient returns. I’m not sure that will happen or that it would have negative consequences for the manufactured housing industry, but I fear it could. ##


MartyLavin-JD-Attorney-ExpertWitnessManufacturedHousing-IndustryVoices-MHProNewsMARTIN V (Marty) LAVIN
350 Main Street
BURLINGTON, VT 05401
att’y, consultant, & expert witness
only in factory built housing

(Editor’s Notes: The above was first submitted in late December, and excerpts were quoted in the MHLivingNews report, linked below.

http://manufacturedhomelivingnews.com/lies-advocacy-journalism-and-statistics-seattle-timesbuzzfeed-attacks-warren-buffetts-clayton-homes-defends-charges-of-racism-and-discrimination-critical-analysis/

Some of the commentary by Marty Lavin that was not originally used – notably the notion that Warren Buffett might find the headache of manufactured housing too much to stomach, and then he may be inclined to spin them off from the Berkshire-Hathaway family of firms – was deemed in the editor’s judgment not necessary for the critique of Mike Baker and Daniel Wagner’s slanted report.

That said, since The Motley Fool has recently published an analysis that may be problematic in places, nevertheless it comes to a similar conclusion that Marty Lavin did days before. Namely, that $577 million in profits from Clayton Homes may not seem enough for Warren Buffett to want to retain MH firms in Berkshire-Hathaway.

MH Industry insiders may recall that Buffett spun off the MHC components of Clayton Homes after they purchased the vertically integrated company.

The Masthead Blog on MHProNews has drawn attention to MHI’s lack of response to the PBS NewsHour report, and to the Clayton Homes drama too. This was done after a source connected with MHI suggested to MHProNews that ‘five figures’ was spent by the association in the direct costs associated with the PBS NewsHour interview.

http://mhpronews.com/blogs/tonykovach/2016-louisville-show-previews-updates-on-media-clayton-homes-drama/

Note that top MHI staff, when asked by MHProNews about the amount of money spent on the reputation and media management consultants and the related PBS interview costs, declined to answer.

MHProNews again wishes to encourage MHI to speak out publicly on at least the PBS related negative media.

It should be noted that while many in the industry – from firms of all sizes and from state associations – are reluctant to speak out on these issues publicly, there has been a steady stream of private ‘thank you’ messages and calls to MHProNews and MHLivingNews for our leadership in presenting a more accurate and balanced view of The Seattle Times and PBS NewsHour takedown reports.

http://manufacturedhomelivingnews.com/what-pbs-newshour-missed-about-manufactured-home-living/

It should also be noted that Isbhel Dickens/NMHOA declined a public debate on the issues raised from the PBS NewsHour, and that Dickens linked the PBS and Seattle Times/BuzzFeed reports. The download of Dicken’s message, is found on the article linked here. It is insightful reading for a serious researcher on these issues, as it clearly suggests that this bad media blitz is all about the politics of HR 650/S 682.

Given that some Democrats are now calling on an investigation of Clayton Homes and their related lenders in the wake of this,

http://www.mhpronews.com/blogs/daily-business-news/democratic-lawmakers-want-doj-to-investigate-clayton-homes-lenders-in-wake-of-seattle-timesbuzzfeed-report/

it seemed timely to revisit Marty’s original replies, posted above. Marty Lavin agreed.

MartyLavin-JD-Attorney-ExpertWitnessManufacturedHousing-postedMHProNews-com-_001

Thoughtful industry comments on this topic or others, is welcome.) FYI, the full-sized version of the recent photo with Marty – is at the right. Updated with these pics at Marty’s request, so others can see just how terrific he looks wrapped inside that grand ship he and his bride Pat/Ava share, berthed at upscale Miama Beach. ###

marty-lavin-jd-manufactured-home-community-owner-on-board-spy-sea-2-22-2104

Marty Lavin on board the rear deck of their custom 70′ Italian ship, the Spy Sea, Miama Beach, FL.

Manufactured Homes? Mobile Homes? Housing? Factory-Built Homes? What Should We Call our Homes?

July 13th, 2015 No comments

Hollywood,

For forty plus years, the MH industry has tried to change the mobile home perception and sophisticate the MH product by changing the name.  When business was sooo good, newbie MBA’s came in and screwed  things up as that was their job which was to make changes and expose what is wrong.

The new group along with industry insiders claimed that the name “mobile home” was not proper.  They said the name is disgraceful and trashy like “trailer.” Industry vets went along with new culture hires and agreed to the name change. The purchasers or those who live in the MH didn’t care at the time and still don’t. 

We changed the name to manufactured housing and after decades of pounding manufactured housing into the public’s mind, most new MH purchasers and MH dwellers still used the term mobile home, so then we decided to change the name to just housing and that did not work as there was no identity to our product, so then some geniuses said to change to factory built homes and so on and so on – so many names.

Its-EvolutionaryTrailerHouse-MobileHome-ManufacturedHome-modular-manufacturedhomelivingnews-comWB-660x330

The image above was not part of Barry Cole’s Letter to the Editor, but the graphic  is linked to an article which is related to this topic. Barry’s article also follows others on the subject from our June Issue Featured Articles.

Still after 4 decades, the public still relates to the mobile home name and per all data, mobile home is used on the internet as much or more than manufactured housing.  Thus, we should never down grade the mobile home name of past which did so much good during a very special time in our industry and especially with so many MH customers still living in them.

So what do we do?  You and I have had numerous conversations as to industry concepts and image and that is why we both have always used the name MH.

You are correct in using MH for the industry’s product name in all of your writings.  It is much easier to say, write and change to.

The recreational vehicle changed to RV and everyone knows the RV name.  The same should be used with MH.

Keep up the good work by using MH in your publications and you will realize more and more using MH.

Barry

barry-cole-rv-mh-hall-of-fame-manufactured-home-insurance-services-mhisBarry Cole

Manufactured Housing Insurance Services (MHIS)

RV/MH Hall of Fame Inductee – Class of 2014.

CMHI’s “Jack E. Wells Memorial Award” for distinguished service to the manufactured home industry.

Past Chairman RV/MH Hall of Fame

(Editor’s Note: this message to L. A. “Tony” Kovach (whom Barry and some other industry pros like to refer to as “Hollywood”) is an on-the-record commentary  by Barry on the article, linked below. Numerous other ‘off the record’ comments have come in as well. As always, your comments – on or off the record – are encouraged.)

http://ManufacturedHomeLivingNews.com/cancer-cures-and-todays-mh/

A Cup of Coffee with…Barry Cole, is linked here.

A Texan’s MH Industry Call to Action

April 8th, 2015 No comments

As they say on television, “we now interrupt your regularly scheduled program to bring you late breaking news.” In this case we shift from our primary focus on the Texas Legislative Session to news coming out of our nation’s Capital.

The government affairs team and leadership of MHI has informed TMHA that H.R. 650 is expected to come to the House floor next Tuesday, April 14, for a vote. Following my comments is the call to action from MHI’s chairman on this critical piece of legislation.

Let me quickly update everyone on what has recently occurred in D.C. On March 25 H.R. 650 was voted out of the House Financial Services Committee by a vote of 43-15. Notably of the 43 votes in favor of the bill, 10 were from Democrats further demonstrating this bill’s bi-partisan support.

We were thrilled to see Texas Congressman Williams, Marchant and Hinojosa all add their names as co-sponsors to the bill. Additionally, subcommittee chairman Rep. Naugerbuer and chairman Hensarling, both also from Texas, spoke during the committee hearing voicing strong support for H.R. 650.

So far so good, but then late last week an article was published that was clearly intended to cast harmful aspersions on specific companies in our industry. This effort was a joint project of The Seattle Times and the Center for Public Integrity. One could conclude by the timing of this article following the successful passage of H.R. 650 from committee, but before it is brought to the full House floor for a vote is, shall we say, less than coincidental.

Welcome to the NFL.

Like hand-to-hand combat…no one ever said passing federal legislation is easy, nor is it for the faint of heart.

This is why we are passing on Nathan Smith’s/MHI’s call to action between now and next Tuesday. We need to make sure we contact as many of our congressional leaders in the House to voice our support for H.R. 650.

For this legislation to become law it has to pass the House and Senate, and then not be vetoed by the President. Passing the House is a critical leg of this three legged stool we must construct.

What’s at stake in this legislation?

Would you like to once again be able to assist your customers through the buying process?

Do you think it will benefit MH home owners – and thus referrals from those home owners – for them to be able to get access more financing on homes under 20K or 25K?  Then ask for support for this bill.

Would you like to actually tell customers which lenders will even consider their credit application rather than pointing them to a lender list and when they ask for help have to shrug your shoulders and leave your customer adrift to figure it all out on their own?

Would you like to see lenders re-enter the lending space for homes under $25,000?

Would you like to be able to assist customers to navigate the lending application process, especially those customers who may need assistance from a bi-lingual salesperson or retailer?

Would you like to conduct your retail selling operations focused on best serving your customers and not be in constant worry that you or your salesperson might have slipped up ever so slightly and crossed over some unclear line during the course of a conversation that can leave you exposed to liability for years?

I’d ask you to think about these questions when you are deciding if you want to spend your valuable time contacting your congressman and encouraging others you know in the industry to contact theirs.

The clock is ticking.

We need to all come together as a unified and strong industry to voice our support for H.R. 650. Our opposition is fiercely attacking this bill and our industry by working against us in D.C., leveraging media plays, and we anticipate attempting to file damaging amendments on the floor intended to splinter support and neuter the needed changes in the bill.

This is a critical time. Thank you. ##

dj-pendleton-mhpronews-com-executive-director-texas-manufactured-housing-association-DJ Pendleton
Executive Director, TMHA

 

Published with Permission. The message referenced from Nathan Smith is linked here.

 

 

Manufactured Housing Institute Responds to Doug Ryan-CFED commentary on CFPB report on Manufactured Housing Finance

October 6th, 2014 No comments

Tony,
As the national association serving as the voice of the manufactured housing industry, Tim (Williams) asked that MHI respond to your inquiry. Our official response is provided below.

Doug Ryan and CFED have been consistent supporters of manufactured housing and continue to recognize manufactured housing as an important source of affordable housing for low- and moderate income families, particularly in rural and underserved communities.

Unfortunately, they fail to recognize the valuable role retailers and sales representatives have historically played in helping consumers identify financing alternatives. Ryan's message insinuates the industry is somehow preventing consumers from selecting less expensive real estate-secured mortgage loans. He says, "many borrowers of chattel products could have qualified for traditional, less expensive mortgages but did not get the chance simply because they were not offered or made aware of the options.”

mhi-logoAs the regulations are currently written—this is what MHI is attempting to fix in HR 1779/S 1828—the retailer cannot help the customer find a mortgage lender or inform the consumer of alternatives. The consumer needs the retailer’s help to become informed of the financing alternatives.

Today, a consumer might contact a dozen conventional mortgage lenders without locating a lender willing to assist them with a low balance mortgage. Prior to the CFPB Loan Originator compensation rule (CFPB defines sales commission from the sale of a home as meeting the compensation definition under the Loan Originator rule), a retailer representative could discuss financing alternatives with consumers including conventional mortgage lenders who offer low balance conventional mortgage loans.

Since the Loan Originator rules became effective, it has become nearly impossible for a retailer to assist consumers without inadvertently becoming considered a Loan Originator and becoming a covered person under Bureau regulations. CFED wants consumers to be informed of financing alternatives, but the people who have the best opportunity to inform them are effectively barred from having those conversations.

Ryan adds, “Indeed, one clear way to address this issue would be for industry to support titling reform that would give families the option to title their homes as real estate and the opportunity to access real estate loans."The manufactured housing industrysupports legislation in all states to provide the alternative of titling manufactured homes as real estate where the home is sited upon land owned by the consumer and when financing is needed, the consumer pledges a first lien position in the land.

jason-boehlert-manufactured-housing-institute-(c)mhpronews-com-75x75-.gifJason Boehlert
Manufactured Housing Institute (MHI)
Senior Vice President of Government Affairs
1655 North Fort Meyer Drive
Suite 104
Arlington, VA 22209

Related Links:

1) – MHI's Response to CFPB's Report (Editor's Note, the MHI link includes the full CFPB report as a free download)

2) – MHARR's Response to RV legislation and CFPB's Report on Manufactured Housing

3) – CFED's Doug Ryan sounds off on Consumer Financial Protection Bureau (CFPB) Report on Manufactured Housing and MH Financing

4) – CFPB Report on Manufactured Housing Signals Areas of Future Concern

    (Editor's Note: The views expressed by Jason Boehlert are his own and/or those of the MHI, and should not be construed to be the views of MHProNews or our sponsors.Other viewpoints on this or other industry topics are encouraged.

    MHProNews plans anIndustry in Focus Reportusing extensive comments from a range of industry professionals on this topic. Watch for it mid-week at the news/reports module link above.)

    CFED’s Doug Ryan Sounds off on Consumer Financial Protection Bureau (CFPB) Report on Manufactured Housing and MH Financing

    October 4th, 2014 No comments

    cfed-logo-posted-industry-voices-guest-blog-mhpronews-com-.gifThe CFPB report supports what CFED and other nonprofit organizations have said in recent years:  Manufactured Home loan borrowers are vulnerable to expensive products and are often not well-served by the current financing market due to the lack of competition, lack of liquidity and the costs of the loans.

    I have no doubt, as the Bureau reported, that many borrowers of chattel products could have qualified for traditional, less expensive mortgages but did not get the chance simply because they were not offered or made aware of the options. Indeed, one clear way to address this issue would be for industry to support titling reform that would give families the option to title their homes as real estate and the opportunity to access real estate loans.

    The report supports, quite explicitly, the need for the Bureau’s current rules to remain in place and enforced. As the Bureau wrote, “the manufactured housing borrowers being charged interest rates or upfront fees above the HOEPA thresholds are the very populations that HOEPA is designed to protect."

    I also believe that this report, and related efforts by industry and CFED and its nonprofit partners, offers an opportunity to develop new loan products, expand the pool of lenders and, ultimately, lower the costs of borrowing.

    CFED absolutely believes manufactured housing must be part of the affordable housing solution in communities across the US. Far too many advocates and policy makers are unaware of the quality and aesthetic appeal of manufactured homes. There is no doubt industry has made great strides to modernize the energy efficiency, the design and the value of the homes. Quite simply, the CFPB’s report underscores the need for the financing to be modernized, as well. ##

    doug-ryan-cfed-posted-manufactured-home-living-news-industry-voices-guest-blog-mhpronews-

    Doug Ryan
    CFED
    dryan@cfed.org

     

     

    Related Links:

    1) – MHI's Response to CFPB's Report (Note, the MHI link includes the full CFPB report as a free download)

    2) – MHARR's Response to RV legislation and CFPB's Report on Manufactured Housing

    3) – CFPB Report on Manufactured Housing Signals Areas of Future Concern

    4) – Manufactured Housing Institute Responds to Doug Ryan-CFED commentary on CFPB report on Manufactured Housing Finance

    (Image credit: Corporation for Enterprise Development (CFED logo.)

    (Editor's Note: As with any opinion column, the views expressed by Mr. Ryan are his own and/or those of the organization he works for, and should not be construed to be the views of MHProNews or our sponsors. Other viewpoints on this or other industry topics are encouraged.

    MHProNews plans an Industry in Focus Report using extensive comments from a range of industry professionals on this topic. Watch for it mid-week at the news/reports module link above!)

    Kudos on Rapidly Approaching 5th Anniversary

    September 4th, 2014 No comments

    Congratulations to Tony and his staff for five years of excellent work with MHProNews and other MH specific publications!  I’m one of those people who have been around long enough to remember at least a significant part of the old days.  I am also one who enjoys rummaging the stack of industry publications at the MH Hall of Fame in Elkhart.  Therefore, it’s obvious that I was tied in to the traditional way of imparting industry information.

    I suppose I’m also one who would not have thought that an online publication could be delivered so well.  After all, we’re not talking about a monthly publication anymore.  Tony’s world is one of constant deadlines.  His publication is one that you check daily.  MHProNews is like a well-supplied buffet line.  There’s probably no way to eat and to digest it all.  But, after quickly looking at the array of food, there’s always something of interest to digest.  Tony’s MHLivingNews publication is the same.  More information to read than you have time for. 

    In checking them out, you’ll always find an article or an opinion piece of interest: something you need to know to become a more informed professional.

    Another interesting trait of Tony is that he is always seeking opinions and guest essays from industry members. It’s a great business model.  Gather all the factual information you can that is relevant to a profession.  Spice that up with opinions, even those which may be controversial.  Finish that off with an unabashed love for the industry.

    Tony, may there be many more years of your publications.  And I have a question for you:  when do you sleep?

    joe-kelley-iowa-manufactured-housing-association-industry-voices-mhpronews-com-Joe Kelly

    Executive Vice President

    Iowa Manufactured Housing Association

     

    (Editor's Note: MHProNews and the new ManufacturedHomeLivingNews both rely on healthy doses of columns, photos, graphics, videos and comments from experts, professionals and readers like you – and of course – on our growing number of sponsors.

    October 2014 marks our 5th anniversary for MHProNews comments, we have others in hand but we'd value more comments on 5th anniversary topic of what this publication means to you.

    Other topics of industry interest are routinely encouraged and welcome.

    And Joe…one of my favorite lines from the insightful interview we did with you a few years ago…

    Our future will be determined by how well we work together.

    Thank You for all that you do at the IMHA!)