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Posts Tagged ‘Senate’

Manufactured Housing Institute and Consumer Groups Urge CFPB to Change Loan Originator Guidelines; Support Builds for H.R. 1779

September 15th, 2013 No comments

In a communiqué to MHProNews, MHI's Vice President of Regulatory Affairs, Jason Boehlert shared the following report to Industry members.

MHI and Consumer Groups Partner to Revise CFPB Rules

On September 5th, MHI joined with a coalition of consumer advocacy organizations, including the Center for Responsible Lending (CRL), Corporation for Enterprise Development (CFED) and National Consumer Law Center (NCLC), to jointly urge the Consumer Financial Protection Bureau (CFPB) to amend key mortgage finance rules and preserve access to credit in the manufactured housing market.

Since May, key MHI members and staff have been working with representatives of these three consumer groups to develop a compromise on rules related to loan originator compensation and classification, and HOEPA High-Cost Mortgage triggers – issues that are addressed in the Preserving Access to Manufactured Housing Act (H.R. 1779).

manufactured-housing-institute-logo-posted-mhpronews-industry-voices=guest=blog

Negotiations have been taking place through the assistance and participation of majority and minority staff of the House Financial Services Committee and Senator Sherrod Brown, who serves as Chairman of the Senate Banking Subcommittee on Financial Institutions and Consumer Credit.

As a result of the negotiations, MHI and the three consumer organizations have agreed to jointly ask the CFPB to clarify and amend its rules in two key areas:

Loan Originator Compensation — for purposes of classifying a manufactured home retail salesperson as a Loan Originator, urge the CFPB to better clarify that as long as no incentive is provided or offered by the retailer or the lender to the individual salesperson to steer the consumer to a certain lender or loan product, then the salesperson should not be considered a Loan Originator.

While the CFPB has issued recent rules removing the manufactured home sales price and any sales commission paid to a sales person from points and fees calculations, an individual salesperson can still be classified as a Loan Originator by performing certain activities (i.e., taking an application, and referring a consumer to a lender). This activity would then classify the retailer as a mortgage broker. Both designations carry significant requirements and liabilities, most notably supervision by the CFPB.

HOEPA High-Cost Mortgage Triggers — consumer organizations have agreed to join with MHI in urging the CFPB to reopen its previous final rule on HOEPA. As a result of the significant dialogue that has taken place between the two sides, the consumer organizations have agreed that a significant reduction in access to credit would result in January 2014 (when the rule goes into effect) for the manufactured housing market unless the CFPB modifies the High-Cost Mortgage triggers. While the two sides have not agreed to a specific number, the willingness of the groups to push for the CFPB to reconsider their prior rulemaking is significant.

MHI and the consumer organizations will continue to meet with the CFPB on a joint basis in September on HOEPA issues. Pursuing a strategy of engagement with consumer groups provides the industry the opportunity to underscore the broad impact of CFPB rulemaking on consumers and the industry. In addition, it will provide a more rapid resolution of the industry’s concern when compared to a potentially protracted legislative battle over reopening the Dodd-Frank Act.

However, it is important to note that as the industry gains ground with the CFPB and the consumer groups, Congressional support for the H.R. 1779 continues to build.

Co-Sponsors to H.R. 1779 Grow

During the month-long Congressional recess, more than 20 U.S. Representatives added their names as co-sponsors to H.R. 1779. Currently, nearly 70 Representatives have co-sponsored the measure and support continues to grow. MHI thanks its members and the national network of state associations for their hard work in urging Representatives to co-sponsor this important legislation (to view a current list of co-sponsors, click here).

As has been previously mentioned, provisions of H.R. 1779 were included in GSE reform legislation (PATH Act; H.R. 2767) that was approved by the House Financial Services Committee and MHI staff continues to work with committee staff to seek an opportunity to move the legislation separately.

While the CFPB has provided some key relief in recent rulemakings to the manufactured housing industry – with respect to appraisals and the calculations of points and fees – work still remains to be done to amend HOEPA triggers and the Loan Originator definition to better represent the needs of the manufactured housing market. Absent regulatory relief, statutory change is necessary.

The industry is asked to continue its outreach efforts to U.S. Representatives. Urge them to co-sponsor H.R. 1779. For more information, click here to access MHI’s action alert. ##

jason-boehlert-mhi-manufactuired-housing-pro=news-.pngJason Boehlert
Manufactured Housing Institute (MHI)
Vice President of Government Affairs
1655 North Fort Meyer Drive
Suite 104
Arlington, VA 22209

MHI members can contact Jason Boehlert at jboehlert@mfghome.org or (703) 558-0660.

(Logo image credits to their respective organizations. Photo credit of Jason Boehlert, MHProNews.com)

(Editor's Note:  Consumer groups did NOT in fact get on board for HR 1779, as we editorially observed in this blog post here.) 

2012 Election Results and Coming Lame Duck Session

November 9th, 2012 No comments

MHI logo posted in MHProNewsWhile commentators will be picking over the remains of the 2012 elections for weeks to come and discussing what the political landscape will look like over the coming year and what impact the elections will have as Congress prepares to return for a lame-duck session, MHI wanted to provide members with some feedback and analysis of the immediate aftermath and outlook for the coming weeks.

While votes in Florida are still being tabulated, President Barak Obama successfully won 303 electoral votes and secured a second term as President. By winning nearly every key swing state including Colorado, Ohio, Virginia and Wisconsin, Obama was able to successfully hold off Governor Mitt Romney’s challenge. It is expected that once the count is finalized, Obama will also garner Florida’s 29 electoral votes. Given Democratic gains in the House and Senate, it is not widely anticipated that Obama will seek to strike a conciliatory mood with Republicans on fiscal issues, or on issues related to a softening of Dodd-Frank.

An even more dramatic surprise was the performance of Democrats in U.S. Senate races. While defending 33 Senate seats this cycle, Democrats were widely predicted to loose (up to) a total of four seats in that chamber. Instead, Democrats we able to successfully win two additional seats and will expand on their current majority during the 113th Congress to 55:45 (Ds:Rs). Included in these were victories by key manufactured housing industry supporters Sen. Sherrod Brown (D-OH) and current Rep. Joe Donnelly (D-IN). Rep. Donnelly successfully won the Senate seat in Indiana being vacated by Sen. Richard Lugar (R-IN).

Republicans are still firmly in control of the House of Representatives. While a number of House races are still being decided, current tallies peg a net Democratic gain of five seats—far short of the 25 needed by Democrats to regain control of the House.

Looking forward, Congress is tentatively scheduled to return November 14 and work up until the Thanksgiving holiday. The House and Senate would then reconvene in December to complete work in time to adjourn prior to the Holidays. Issues expected to dominate the lame duck session, include:

  • · FY 2013 appropriations
  • · Extension of 2001 and 2003 tax cuts
  • · Sequestration
  • · Increase of debt ceiling

During the lame duck session, MHI will be working to pass legislation (H.R. 3849 and S. 3484) reforming portions of the Dodd-Frank and SAFE Acts. The session could potentially offer opportunities to attach portions of these bills to larger measures moving through each chamber. During this time, MHI members a strongly urged to continue contacting their members of Congress to request they co-sponsor either H.R. 3849 or S. 3484. For more information, access the MHI action alert at www.mfghome.org.

JasonBoehlertManufacturedHousingInstituteSeniorVPLogoMHIlogoQuoteMHProNews

Editor’s Note, this graphic was added on 11.28.2017, by the editor of MHProNews. The content, and the original email that delivered it, are the same as shown.

For your reference, we have attached the following analysis performed by MHI external consultants summarizing the impacts and outcomes of the 2012 election:

  • Porterfield & Lowenthal: overview of the impact the 2012 election will have on banking and financial services issues, including an outlook for the 113th Congress.
  • SNR Denton: Broad and in-depth analysis of the 2012 Presidential election, including overview of House, Senate, Gubernatorial elections and ballot initiatives.

In addition, we have included a win-loss summary of candidates the MHI-PAC contributed to during the 2012 election cycle. In total, the MHI-PAC distributed in excess of $126,000 to support 59 federal candidates. Of those candidates running in 2012 (excluding retiring members and Senators not currently in cycle), the MHI-PAC boasted a win percentage of 93 percent.

jason-boehlert-mhi-VicePresidentManufacturedHousingInstituteMHILogoManufactuired-Housing-pro=news-by Jason Boehlert
Manufactured Housing Institute (MHI)
Vice President of Government Affairs

Liberty

July 17th, 2012 No comments

I read Tony Kovach's recent Masthead blog post with some fascination. Because the upcoming elections are on my mind too. Many of us feel that we are watching something slip away. Many of us want to make sure that we continue what was started in 2010, when the House or Representatives was retaken by 'tea party conservatives'.

Lady-Liberty-mhmsm

I did a post on LinkedIn recently, asking questions about the impact of the Nanny State on manufactured housing professionals. Here are a pair of the statements, quoted below verbatim, with the initials of the person who made the comment:

The industry is, I agree, significantly over-regulated. Often intentionally, exemplified with the number and types of superfluous disclosures to prospective residents our legislature seeks to add, and also as the unintended consequence of legislation targeting others (SAFE Act as to sale of park owned homes, Red Flags, Safeguard Rules, Patriot Act, etc.)” TD

The problem is that sometimes we get what we "wish for" – the HUD Code. Many manufacturers in the industry wanted HUD regulation to avoid regulation by each state. Tony is correct – the largest shipment year was 1974 – the year before the HUD Code, but, there were other factors at work as well.KR

Here are some quotes from historic leaders and masters on this subject of Liberty.

Any society that would give up a little liberty to gain a little security will deserve neither and lose both.” Ben Franklin

If we are together nothing is impossible, if we are divided all Will Fail.” Winston Churchill

The will of the people is the only legitimate foundation of any government, and to protect its free expression should be our first object.” Thomas Jefferson

Do not wait for leaders; do it alone, person by person.” Mother Teresa of Calcutta

Liberty, when it begins to take root, is a plant of rapid growth.” George Washington

Only our individual faith in freedom can keep us free.” Dwight D. Eisenhower

Liberty without learning is always in peril; learning without liberty is always in vain.” John F. Kennedy

To be free is not merely to cast off ones chains, but to live in a way that respects and enhances the freedom of others.” Nelson Mandela

The history of freedom is never really written by chance but by choice.” Dwight D. Eisenhower

Lincoln Union Forces MHProNews

We have so many things that can inspire us Americans. One of the countless examples is Abraham Lincoln, who suffered defeat after defeat in his personal career, only to keep coming back through dogged persistence to accomplish his goal.

Lincoln is famous for three reasons one his election in 1860, two his struggle to hold the Union together in the Civil War. But Lincoln is also famous that his life was riddled with failure and he overcame it time and time again. Here is just a small sampling of his failures;

1831 Failed in business

1832 Lost his job

1836 Had a nervous breakdown in bed for 6 months

1843 – Ran for Congress and lost

1848 Ran for re-election to Congress and lost

1858 Ran for US Senate and lost

1860 Ran for President and won.

The question – how many failures can you endure and carry on? The answer that Abraham Lincoln gave with us with his life example is to keep on keeping on until you accomplish that worthwhile goal.

Great things can be accomplished by team work. Pulling together can happen professionally as well as politically. That is why associations and parties exist. One thing is certain, "United, we Stand. Divided, we fall."

There is no need for perfect unity, nor is it possible. America became free of England not because everyone stood together! They became free because enough stood together to make it happen. Some say that perhaps 1/3 of the people were engaged in the effort and supported independence.

So don't think that just because there is opposition that we are thus 'doomed to fail.' YOU be a part of the solution. Gather others of like mind. Share the truth well, and some will accept it. That is how you get 'enough.'

The same can be true for us now as it was for the American Rebels at the time of the Revolution, as we work to reverse a long string of legal and regulatory setbacks to our liberties. We can do it. We are Americans. Amer-I-CAN.

The economic times give manufactured housing professionals an in unprecedented opportunity. Lower incomes means more people than ever before are looking for affordable quality homes in America. But we won't accomplish it unless we get some regulatory and legal hurdles out of the way.

This is the election that we had better work hard to win. If you haven't already seen and shared this political cartoon linked here, please check it out and send it to your mailing list.

http://www.manufacturedhomelivingnews.com/2012-06-25-16-14-30/purely-political/37-the-5-facts-for-voters-to-consider

Doing so can do two amazing things. One, it can get more people thinking and engaged.

Two, it can get more people looking at the manufactured home lifestyle in a positive way.

Those are two things that can help you and your business. Together, Let's do this! Liberty – personal freedom – is worth working for, always. ##

Posted for
Tim Connor

Marketing & Sales,Website,AdvertisingandMHSpeakerTrainer– Manager

MHProNews.com = The MHIndustry's#1 News, Tips and View you can Use© resource.

MHLivingNews.com = Free resource to enhance MH HomeOwner Satisfaction and MH Image Building

MHI PAC and the Upcoming Midterm Elections

October 26th, 2010 2 comments

Industry in Focus Reporter Eric MillerWASHINGTON, DC – Indiana representative Joe Donnelly is the top recipient of contributions from the Manufactured Housing Institute Political Action Committee (MHI PAC). According to OpenSecrets.org, Donnelly received a $6,000 contribution during the 2010 election cycle.

As of October 13, 2010, receipts totaled $101,019.00 with $79,590.00 cash on hand. Total spent amounts to $118,584.00. Sixty-five percent of contributions were made to Democrats and 32 percent went to Republicans, with specific Republicans receiving some of the largest contributions.

Donnelly and several key members of the Manufactured Housing Congressional Caucasus are facing tight races. The biggest recipients in House of Representatives races include Barney Frank (D-MA) with $3,000 and Bill Posey (R-FL) also with $3,000 and Baron Hill (D-IN) $2,000. In the Senate races, top recipients include Blanche Lincoln (D-AR) with $4,000 and Richard Shelby (R-AL) with $3,500.

House
Total to Democrats: $31,750
Total to Republicans: $15,500
Recipient Total
Aderholt, Robert B (R-AL) $1,000
Bachus, Spencer (R-AL) $1,000
Boswell, Leonard L (D-IA) $2,000
Boyd, Allen (D-FL) $2,000
Brown-Waite, Ginny (R-FL) $1,000
Calvert, Ken (R-CA) $1,000
Camp, Dave (R-MI) $2,000
Chandler, Ben (D-KY) $1,000
Childers, Travis W (D-MS) $2,000
Clyburn, James E (D-SC) $1,000
Davis, Geoff (R-KY) $2,000
Donnelly, Joe (D-IN) $6,000
Driehaus, Steve (D-OH) $2,000
Duncan, John J (Jimmy) Jr (R-TN) $2,000
Etheridge, Bob (D-NC) $1,000
Frank, Barney (D-MA) $3,000
Hill, Baron (D-IN) $2,000
Hoyer, Steny H (D-MD) $2,500
Matsui, Doris O (D-CA) $1,000
McHenry, Patrick (R-NC) $1,000
Miller, Brad (D-NC) $1,000
Olver, John W (D-MA) $1,000
Paulsen, Erik (R-MN) $250
Posey, Bill (R-FL) $3,000
Scott, David (D-GA) $2,000
Souder, Mark E (R-IN) $1,000
Tanner, John (D-TN) $1,000
Thompson, Bennie G (D-MS) $1,000
Tiberi, Patrick J (R-OH) $250
Tonko, Paul (D-NY) $250
Senate
Total to Democrats: $12,000
Total to Republicans: $6,500
Recipient Total
Baucus, Max (D-MT) $1,000
Corker, Bob (R-TN) $1,000
DeMint, James W (R-SC) $1,000
Dodd, Chris (D-CT) $1,000
Lincoln, Blanche (D-AR) $4,000
Murkowski, Lisa (I-AK) $2,000
Nelson, Bill (D-FL) $2,000
Pryor, Mark (D-AR) $1,000
Reed, Jack (D-RI) $1,000
Schumer, Charles E (D-NY) $2,000
Shelby, Richard C (R-AL) $3,500
Wicker, Roger (R-MS) $1,000

Based on data released by the FEC on October 25, 2010.

Feel free to distribute or cite this material, but please credit the Center for Responsive Politics. For permission to reprint for commercial uses, such as textbooks, contact the Center.

In terms of voting records on industry related issues and the S.A.F.E. Act, as well as Title 1 reform and Duty to Serve, were all contained in the Housing and Economic Recovery Act of 2008 (HERA). In the Senate, Reid, Shelby and Lincoln all voted for the Act. Then-Senator Obama did not vote. In the House, Donnelly, Hill and Frank all voted for the bill. Posey was serving in the Florida State Senate at the time. Would-be Speaker of the House John Boehner voted against HERA.

The National Association of Homebuilders (NAHB) and the National Association of Realtors (NAR) has also provided contributions to these candidates. As of October 13, Donnelly received $1,000 from the NAHB PAC. Frank received $5,000 from NAHB, as did Posey. Hill is not listed as having received a contribution from NAHB. In the Senate races, NAHB gave $2,500 to Lincoln and $5,000 to Shelby. In contrast to MHI PAC’s contributions, the NAHB gave 39 percent to Democrats and 60 percent to Republicans. The total spent by the Homebuilders in the 2010 cycle is $3,012,057.

MHI-PAC contributions chart
Chart created by MHMSM.com’s Industry in Focus Reporter Eric Miller from information available on opensecrets.org

Contributions by the National Association of Realtors far exceed that of either the NAHB or MHI. As of October 13, the Realtors gave 58 percent to Democrats and 41 percent to Republicans. Donnelly received $6,000 from the Realtors, Frank received $6,000, Hill received $6,000 and Posey was handed $5,000. In the Senate races, Lincoln received $14,000 and Shelby $3,000. Total expenditures for Realtors in the 2010 cycle are $11,218,449.00.

Democrats currently hold a 256-178 majority in the House of Representatives, with one vacancy. The battle for control of the House focuses primarily on 64 competitive races–58 Democratic-held seats and 6 Republican-held seats including 9 members of the Manufactured Housing Caucus.

According to MHI, two races that are particularly important to the manufactured housing industry are those including Congressman Baron Hill (D-IN) and Congressman Joe Donnelly (D-IN). Beyond financial contributions, MHI says it will be working with members in these key districts to get-out-the-vote for their candidates.

According to their report to members at their Denver meeting in September, MHI believes as do many political analysts that a Republican takeover of the House of Representatives is possible. If so, House Minority Leader John Boehner (R-OH) is in line to become Speaker of the House. A GOP majority would mean major changes as a number of senior Democrats chairing committees important to manufactured housing would face demotions to lesser roles including Housing Financial Services Chairman Barney Frank (D-MA), a staunch supporter of manufactured housing.

The current Senate line-up is 57 Democrats, 41 Republicans and 2 Independents. The Republicans must win 10 seats to recapture the Senate. The odds favor continued Democratic control, but a significant surge by Republican candidates could lift the Republicans into striking distance of gaining control of the Senate.

More information on the MHI PAC is available at http://www.manufacturedhousing.org ##