by L. A. 'Tony' Kovach
It is a truism to say that financing is the life blood of most any big ticket sales item you can think about, and manufactured housing is no exception. So the effort by national, state and communities organizations to modify Dodd-Frank and the SAFE Act – HR 3849 – or the lobbying efforts of of the CFPB by recently hired SNR Denton are necessary and good. A two legged stool is a balancing act for whomever is sitting on the stool, and what we need are even legs and at least 1 more leg on this stool.
As publisher, I have the advantage of seeing other articles we are getting ready to run before writing 'fill in' articles. For example, I see communities going through all kinds of gyrations trying to fill sites. Part of those efforts are precisely caused by regulatory issues, such as SAFE and Dodd-Frank. Would we have so many community owners using rentals, if not for these regulations? Aren't we allowing the fundamental business model for communities to be changed, due to these regulations; especially the move towards more rentals in MHCs?
You must do what you must short term, but to protect access to financing for manufactured housing, we have no choice but to get and stay engaged. Here are the three steps we ought to be taking:
- Advocacy with our Congressional Representatives. Ideally this is done in conjunction with your state, national or communities association. It is much more effective to tell the person on the phone that you are a member of x association, and that you and your fellow members want to call to Congressman or Senator X's attention the plight of millions of Americans who live in a manufactured home who are going to lose access to financing or see it diminished. However well intended, these pieces of legislation are having sever unintended consequences, and they must be dealt with by Congress.
- Lobbying the CFPB. SNR Denton has this job, in conjunction with and for associations. Unless or until they call for statements from industry members, you may not need to do anything more on this topic.
- Getting owners of manufactured homes on board. Some companies and some home sellers and community operators are already doing this. Sadly, most do not. How many protests do we need to see on TV or YouTube, or read about before we learn the lesson that few things are more effective than voters calling public officials to task?
(Editor's Note: L. A. ‘Tony’ Kovach is a member of MHSpeakerTrainer.org)
L. A. ‘Tony’ Kovach
is the publisher, marketing and sales consultant and business development director of MHMSM.com
. Tony does contract marketing, sales and management, turn around and growth services for MH industry professionals and companies. We are almost ready with our new website at MHC-MD.com
, your feedback is welcome. Tony's LinkedIn profile is at: linkedin.com/in/latonykovach
. Contact Tony at 815-270-0500 or by email at
. Tony is a popular speaker at Association and other manufactured housing Industry events.