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MHI-week-in-review

2014 Election Recap and Financial Services Outlook for the 114th Congress

by Lendell Porterfield, CEO, Porterfield, Lowenthal, Fettig & Sears, LLC

Note about the Author: Lendell Porterfield is CEO of Porterfield, Lowenthal, Fettig and Sears LLC, which serves as MHI's external lobbying firm.  He previously served as Senator Shelby's Banking Committee adviser from 1995 - 2001.   He was the lead Republican Committee staffer on the Manufactured Housing Improvement Act of 2000.  

The Midterm elections confirmed what pollsters have been telling us for months:  a negative political environment for Democrats, coupled with economic and national security concerns, translated to historic gains for Republicans and devastating losses for Democrats in both the Senate and the House.  With Louisiana headed to a runoff, Republicans have won the majority for the 114th Congress.  This means Republicans will drive the Senate agenda for the next two years and, given the results, will be emboldened to move legislation and force President Obama to sign or veto legislation.  As a general theme, we expect the Republican House and Senate to push back hard against what many perceive as President Obama's overly aggressive and burdensome regulatory agenda.  An overview of the election results include:

  • Topline Takeaway: Republicans have taken control of the Senate and strengthened control of the House. By controlling both chambers for the first time since 2005-2006, Republicans will be better positioned to push back on regulatory initiatives as well as pass somesubstantive Dodd-Frank changes.  We expect more oversight and investigative hearings into industry activities and agency actions.

  • Republicans Take Senate Majority:  Senate Republicans gained at least eight Senate seats, two more than needed to win the majority.  Louisiana will go to a runoff December 6th. Virginia and Alaska may endure recounts.  Republicans exceeded most everyone's expectations. It was a wave.

  • Republicans Maintain House Majority: At the moment, it appears Republicans gained a net of 14 seats and counting to maintain the House majority with 246 seats, its largest majority since World War II.

  • Lame Duck:  Expected action: CR, TRIA reauthorization, insurance capital standards, tax extenders, Defense Authorization Act and judicial nominations.

click here to read more

MHI Leadership Yields Positive Results for Industry in Energy Efficiency Standards

Concluding a three month, intensive negotiation process, the Department of Energy (DOE) ASRAC (Appliance Standard Rulemaking Advisory Council) Working Group on Manufactured Housing successfully reached a consensus recommendation for updated energy efficiency standards for manufactured housing.  In an almost unanimous (20-to-1) vote, the working group developed a recommendation to meet a mandate outlined in the 2007 Energy Independence and Security Act (EISA) for DOE to establish energy efficiency standards for manufactured housing based on the most recent version of the International Energy Conservation Code (IECC).


DOE undertook a consensus approach to develop standards after an unsuccessful attempt to publish its own proposed rule that was strongly opposed by MHI as being too costly, technically deficient and lacking industry input.  DOE was further motivated to take action when Congressional Appropriators passed a directive, supported by MHI, that DOE consult with HUD, the MHCC and the industry in setting new energy standards for manufactured housing.  Lastly, several energy conservation groups were threatening DOE with a lawsuit if it did not take action to propose a rule.


Throughout the negotiations, MHI members serving on the committee tenaciously argued for an approach that equitably balanced reduced energy costs against added first cost.  Industry representatives made a strong case for basing economic decisions on the perspective of buyers with an average ownership term of ten years, rather than a thirty-year life cycle; the latter approach would have resulted in greater efficiency but at a much higher home cost. 


Additionally, MHI with technical support from the Systems Building Research Alliance (SBRA), successfully argued for maintaining three climate zones as opposed to the seven in the IECC (the 2015 IECC was the starting point for negotiations).  Further, the zones proposed are divided mainly along state lines as opposed to the county boundaries used in the IECC-manufacturers often do not have specific site information prior to home construction.


When negotiations on the rulemaking began in August, it became evident that the representative from the Manufactured Housing Association for Regulatory Reform (MHARR) would not provide any substantive feedback, opposed the law and, while present at the meetings, would not actively participate in consensus negotiations.  While they criticized data provided by MHI, MHARR was repeatedly asked by DOE and ASRAC participants to provide cost data, but failed to provide anything other than anecdotal and unsubstantiated information.


It is critical to note that had MHI not worked collaboratively with regulators and energy advocates to reach a consensus, DOE would have been obligated to promulgate a standard that would have had a dramatic cost impact without regard to industry or consumer concerns.  MHI's ability to productively contribute to the process meant that it was able to most effectively ameliorate the impact of a potentially debilitating rulemaking.


MHI members and SBRA staff developed data, conducted analysis and promoted outcomes that would be most beneficial to the overall industry and homebuyers.  The final result is recommendations that are reasoned, substantiated, fair, equitable and forward looking.


Another positive outcome is an offer by DOE to work with industry to develop software that facilitates the process of designing new homes and checking for code compliance (similar to ResCheck software used by many modular and site builders). The software would combine in a single application a range of functionality formerly available only from separate procedures and methods.


While the new proposed energy efficiency standards will increase first costs, consumers will realize significant energy cost savings. The impact will be lower monthly net costs and improved affordability, a win-win for our homebuyers and the environment.  Increased construction costs will vary by region, manufacturer and home design. 


The Working Group's recommendation will be presented to the Secretary of Energy who will very likely endorse it as proposed. The recommendations will then be developed into a proposed rule which will go to the White House Office of Management and Budget for a 90-day review.  The proposed rule will then be published in the Federal Register in early 2015 and be subject to public comment.  It is anticipated that a final rule will not go into effect until 2016.


A key next step is for DOE to develop a process for enforcement and monitoring.  In order to prevent duplicative enforcement mechanisms, MHI will be urging the agency to utilize the existing HUD inspection and enforcement framework.


Highlights of the Working Group's recommendations are below.  Note, these recommendations must still be approved by DOE, OMB and are subject to public comment. 

  • Two compliance options, prescriptive or performance

  • Three new thermal zones, closer to the current HUD zones than the IECC zones

  • Minimum window U-values and SHGC values

  • Lower U-values (higher thermal requirements) which are different for single-section and multi-sections. 

  • Duct tightness testing required on each house

  • No blower door tests, visual inspections allowed.

  • All penetrations are to be sealed (windows, doors, walls, floor and ceiling)

For more information, contact MHI Vice President of Regulatory Affairs Lois Starkey at (703) 558-0654 or This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

MHI CFPB and Financial Services Updates

November 18th: CFPB and Fed to Host TILA-RESPA Disclosure 

Webinar

On November 18th, the CFPB and the Federal Reserve will 

co-host the fourth in a series of FREE webinars on the TILA-RESPA integrated mortgage loan disclosures rule.  The webinar will focus on how to complete the new closing disclosure form.  Click here to register. 

Click here to read more MHI CFPB and Financial Services Updates.  

Government and Political News from Around the Nation

All 50 States - For state-by-state budget reviews, click hereto view the analysis by MultiState Associates.

Alabama - House Speaker Mike Hubbard (R) faces up to 20 years in jail after being indicted on 23 felony corruption charges. Prosecutors allege Hubbard solicited gifts from lobbyists and used his office for personal gain. Hubbard claims innocence and says he is the victim of a political witch hunt. Click here to read more.

Colorado - Gov. John Hickenlooper (D) unveiled his 2015 budget proposal. The $26.8 billion budget increases current spending levels 7 percent. Click here to read more.

North Carolina - Gov. Pat McCrory (R) is reassessing his position on an expanded Medicaid program. Former Speaker and current U.S. Senate candidate Thom Tillis (R) agrees that lawmakers should take the issue up in 2015, but Senate President Phil Berger (R) remains staunchly opposed. Click here to read more.

Pennsylvania - The House and Senate both wrapped up work for the year. Both chambers reconvene on Nov. 12th to organize for 2015. Click here to read more.

South Carolina - Currently suspended House Speaker Bobby Harrell (R) is expected to plead guilty to corruption charges and resign from the House. Harrell served 21 years in the House. Click here to read more.

All 50 States - Bill prefiling deadlines have been added to MultiState's 2015 Legislative Session Deadlines chart. The chart also contains bill introduction and crossover deadlines, as well as session start and end dates. Click here to read more. ##

Daily Business News Briefs

Patrick, UMH Surge, Manufactured Housing CV Spikes, Broader Markets Dip

Patrick, UMH Surge, Manufactured Housing CV Spikes, Broader Markets Dip

Noteworthy headlines on – CNNMoney – Trump calls for dramatic tax cuts. Chobani sues Alex Jones over “migrant rapists” claim. Hilton to hire another 20K veterans and their families. FCC chair unveils plan to roll back net neutrality. Some bullets from Fox Business – Rep. Brady: Trump’s tax reform is “Bold.” Mnuchin: We’ll lo...

26 Apr 2017

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Trump Effect: Immigration, the Border Wall, and a $14 Billion Fix?

Trump Effect: Immigration, the Border Wall, and a $14 Billion Fix?

As the Daily Business News covered recently, President Donald Trump’s first 100 days have been a whirlwind of movement, including doubling down on his promises for immigration and building the border wall. At the heart of the conversation about building the wall is the cost, estimated to be $28 billion. While that price has raised […]...

26 Apr 2017

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Triad Financial Services Creates New Program Manufactured Home Dealers

Triad Financial Services Creates New Program Manufactured Home Dealers

Triad Financial Services, Inc. tells MHProNews that it has formed the Triad Manufactured Home Risk Purchasing Group (RPG) for manufactured home dealers. Triad says that it created the program in response to the increasing demand for affordable liability insurance for manufactured home retail dealers. In addition to the insurance savings, the...

26 Apr 2017

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UPDATE: MHC Future in Doubt, the Other Side of Rent Control

UPDATE: MHC Future in Doubt, the Other Side of Rent Control

In an update to the story that the Daily Business News originally covered here, residents at the Thetis Lake Campground community in View Royal, British Columbia, Canada, are facing an imminent threat. According to Western Investor, assessments on the community are threatening the viability of the most affordable housing option in the province,...

26 Apr 2017

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President Trump at 100 Days: Numbers, Polls

President Trump at 100 Days: Numbers, Polls

As President Donald Trump reaches the magic 100-day mark in office, new polling and statistics show that many American’s believe he’s getting the job done. According to Lifezette, approximately 73 percent of American voters approve of President Trump’s performance in fighting for American jobs in an ABC News/Washington Post poll released this past...

25 Apr 2017

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Patrick, LCI Leaders, Manufactured Housing CV Ticks Up, Monster Day for Bro…

Patrick, LCI Leaders, Manufactured Housing CV Ticks Up, Monster Day for Broader Markets

Noteworthy headlines on – CNNMoney – Bannon cleared to sell Mercer-backed holdings. Big techs push Nasdaq to new milestone. Outburst by Wells Fargo shareholder halts meeting. Undocumented immigrant population in steady decline. Some bullets from Fox Business – Ted Cruz wants El Chapo, Mexican drug lord, to pay for Trump’s w...

25 Apr 2017

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Modular Housing Visions are Looking Up in New York’s Big Apple

Modular Housing Visions are Looking Up in New York’s Big Apple

In an effort to tackle the affordable housing challenges in New York City, two designers have looked up, but not to build skyscrapers. According to Dezeen, Instant City: Living Air-Right, a plan created by designers Beomki Lee and Chang Kyu Lee, calls for using vacant airspace over existing New York buildings to create affordable modular […]...

25 Apr 2017

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Acquisition, and Rumors of a Billion Dollar Acquisition, for Hometown Ameri…

Acquisition, and Rumors of a Billion Dollar Acquisition, for Hometown America

In Australia, manufactured home builder and community owner Gateway Lifestyle Group has seen significant growth since the Daily Business News reported a potential deal with Hometown America last August to purchase National Lifestyle Villages (NLV), Western Australia’s largest operator of manufactured home communities. At the time, the proposed d...

25 Apr 2017

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Keith Olbermann on Trump Supporters – Industry Reacts – When “Trailer Trash…

Keith Olbermann on Trump Supporters – Industry Reacts – When “Trailer Trash” Isn’t What You Think

In what is quickly becoming known as the “tweet heard ‘round the manufactured housing world,” former ESPN and MSNBC host Keith Olbermann’s reference to President Donald Trump supporters — former Presidential candidate Sarah Palin and musicians Ted Nugent and Kid Rock during their White House visit — as “trailer park trash” has set off a...

25 Apr 2017

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Manufactured Home Community Residents Reach Settlement In Legal Action

Manufactured Home Community Residents Reach Settlement In Legal Action

In Massachusetts, residents of the Chelmsford Commons manufactured home community have reportedly reached a six-figure settlement in a class action lawsuit against community owner, Michigan based RHP Properties. According to the Lowell Sun, the suit alleges that RHP improperly raised rents on residents over the last five years. As a result of the...

24 Apr 2017

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Carlyle’s Big Day, Manufactured Housing CV Gains, Broader Markets Roar Back

Carlyle’s Big Day, Manufactured Housing CV Gains, Broader Markets Roar Back

Noteworthy headlines on – CNNMoney – Ontario, Canada, launches guaranteed income program. Stocks soar after French election first round. Could Obamacare fight shut down Washington? Wells Fargo scandal: Where was the board? Some bullets from Fox Business – Trump wants to slash the corporate tax rate to 15%: WSJ. Trump laying down the l...

24 Apr 2017

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New Sponsors

Featured Articles and Reports - April 2017 Vol. 8 No. 7

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Proof! Manufactured Home Communities, Retailers & Builder/Developers Can A…

Proof! Manufactured Home Communities,  Retailers & Builder/Developers Can Attract, Sell Site Built Buyers

by L. A. ‘Tony’ Kovach What’s the difference between a nice sounding theory, and a profitable process?  Proof. NSP_READMORE

MARKETING

*** Price Reduction *** North Tampa Portfolio - MH & RV | 380 Sites | Flori…

*** Price Reduction *** North Tampa Portfolio - MH & RV | 380 Sites | Florida

by Christopher Nortley Portfolio Overview The North Tampa Portfolio consist of 3 communities in which 2 are located in Port Richey while the 3rd is located in Hudson, FL. All... NSP_READMORE

MARKETING

ELS Rises, Manufactured Housing CV, Broader Markets Dip

ELS Rises, Manufactured Housing CV, Broader Markets Dip

by RC Williams Noteworthy headlines on – CNNMoney – Mercedes-Benz pulls ads from The O’Reilly Factor. NSP_READMORE

COMMUNITY MANAGEMENT & FAIR HOUSING (LEGAL)

What’s the Truth About the Manufactured Housing Industry’s Potential?

What’s the Truth About the Manufactured Housing Industry’s Potential?

by Soheyla Kovach Whether or not truth is reported, or distorted, reality – the truth – is. Truth exists. NSP_READMORE

COMMUNITY MANAGEMENT & FAIR HOUSING (LEGAL)

Manufactured Home Community’s Outsider Sparked Water Issues

Manufactured Home Community’s Outsider Sparked Water Issues

by RC Williams In Puyallup, Washington, the stereotypes surrounding manufactured versus site built housing are playing out in a less than ideal way. NSP_READMORE

COMMUNITY MANAGEMENT & FAIR HOUSING (LEGAL)

State Agency to Assist Low Income MH Residents

State Agency to Assist Low Income MH Residents

by RC Williams In Delaware, homeowners in need are going to get some help. NSP_READMORE

COMMUNITY MANAGEMENT & FAIR HOUSING (LEGAL)

State Law Forces City Decision on Manufactured Home Zoning

State Law Forces City Decision on Manufactured Home Zoning

by RC Williams In Queensbury, New York, manufactured housing has scored a victory. NSP_READMORE

COMMUNITY MANAGEMENT & FAIR HOUSING (LEGAL)

Want Manufactured Home Community Voluntarily Rent Control, Anyone? Anyone?

Want Manufactured Home Community Voluntarily Rent Control, Anyone?  Anyone?

by RC Williams Officials in Corona, California, say that they may pursue voluntary rent control measures for manufactured home communities, in an effort to help low income and elderly... NSP_READMORE

COMMUNITY MANAGEMENT & FAIR HOUSING (LEGAL)

City Turns to Manufactured Homes in Project

City Turns to Manufactured Homes in Project

by RC Williams In Northern California, the city of Sebastopol is investing $258,000 into a project that establishes affordable housing for low-income residents at the city’s eastern gateway. NSP_READMORE

COMMUNITY MANAGEMENT & FAIR HOUSING (LEGAL)

Manufactured Home Communities, Fair Housing, and Day Care

Manufactured Home Communities, Fair Housing, and Day Care

by Nadeen Green, JD The seven federally protected classes (race, color, religion, national origin, sex, familial status and disability) are hugely relevant (and reflective of the issues of discrimination... NSP_READMORE

COMMUNITY MANAGEMENT & FAIR HOUSING (LEGAL)

Live Oaks & Blue Oaks MHP Portfolio | 170 Sites | Topeka, Kansas

Live Oaks & Blue Oaks MHP Portfolio | 170 Sites | Topeka, Kansas

by Christopher Nortley Property Overview MHRE Inc is pleased to present Live Oaks and Blue Oaks located in Topeka, Kansas. The communities are situated just 4.2 miles away from each other. NSP_READMORE

COMMUNITY MANAGEMENT & FAIR HOUSING (LEGAL)

Brian Gallagher, Chief Operating and Financial Officer, Santefort Real Est…

Brian Gallagher, Chief Operating and Financial Officer,  Santefort Real Estate Group - RFI - FHFA, Duty to Serve Comments Letter

by Brian Gallagher Editor’s note: Brian Gallagher thoughtfully shared the comments below with MHProNews for publication.  NSP_READMORE

FINANCING

Security Mortgage Group Setting Hot Pace in First Quarter of 2017

Security Mortgage Group Setting Hot Pace in First Quarter of 2017

by Pierce Redmond Security Mortgage Group, a national award-winning MH Community lending broker, is pleased to have financed $78,632,000 thus far in 2017 for several manufactured home communities nationwide. NSP_READMORE

FINANCING

NFIB Provides Vital Small Business Guide

NFIB Provides Vital Small Business Guide

by RC Williams The National Federation of Independent Business (NFIB) is out with its 2017 Small Business Tax Guide. NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

Moves In U.S. Home Price Index

Moves In U.S. Home Price Index

by RC Williams New data from Case-Shiller shows that January home prices rose at the fastest rate since 2014. While this spells a win for sellers, it could eventually... NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

Media, MHI Members Welcomed, Industry Warned

Media, MHI Members Welcomed, Industry Warned

by Soheyla Kovach At the 2017 Tunica Manufactured Housing Show, members of the Manufactured Housing Institute (MHI), and the industry’s top trade media were welcomed – without cost – by... NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

Sunday Morning Weekly Recap Manufactured Housing Industry News March 26th 2…

Sunday Morning Weekly Recap Manufactured Housing Industry News March 26th 2017 to April 2nd 2017

by RC Williams Our theme for our April 2017 issue is: Manufactured Housing Industry Politics – Complicated Cross Currents, or April Fools? NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

Cavco’s Buyout

Cavco’s Buyout

by RC Williams Cavco Industries Inc. (NASDAQ:CVCO) tells MHProNews that it has signed a Letter of Intent, and has reached an understanding, on terms to acquire Lexington Homes, Inc. NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

April Fools? – MHVille’s Complicated Politics, 2017

April Fools? – MHVille’s Complicated Politics, 2017

by Soheyla Kovach Three april fools looking at camera with different expressions, credits, MHProNews.com/GraphicStock. NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

ELS’ Sam Zell Sounds Off on Trump’s Wall

ELS’ Sam Zell Sounds Off on Trump’s Wall

by RC Williams ELS Chairman and billionaire real estate mogul Sam Zell shared his thoughts recently on President Donald Trump’s plan for the border wall with Mexico, and what... NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

City Residents Make Unexpected Moves – Opportunity for MH?

City Residents Make Unexpected Moves – Opportunity for MH?

by RC Williams New data shows an interesting trend – popular cities like New York, Los Angeles, and Washington D.C., normally destinations for living, are actually losing people in... NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

Diverse Industry Reactions to Manufactured Home Community Closure Issue

Diverse Industry Reactions to Manufactured Home Community Closure Issue

by RC Williams In Chesterfield, Missouri, residents of the town’s only manufactured home community received some very shocking news this week. NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

Chicago’s Mayor Favors Massive Modular Project

Chicago’s Mayor Favors Massive Modular Project

by RC Williams In a follow up to a story that Daily Business News originally covered here, Chicago Mayor Rahm Emanuel is “gung ho” about developers planning to build 12,000 modular homes,... NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

Developers Going MOD in Housing Crisis

Developers Going MOD in Housing Crisis

by RC Williams In Baton Rouge, Louisiana, two developers have turned to modular housing to ease the stress of finding housing. NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

Barry and “Be the Change!” Doing Good, Pays

Barry and “Be the Change!” Doing Good, Pays

by L. A. ‘Tony’ Kovach We decided this month to highlight a simple yet profound reality. NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

Is What You Say Always Consistent with What You Believe?

Is What You Say Always Consistent with What You Believe?

by Tim Connor, CSP There is a Native American legend that says - you will only get into Heaven leaning on the shoulders of someone you helped while you... NSP_READMORE

PERSONAL REFLECTIONS, MOTIVATION and INSPIRATION

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Classifieds

Press Releases

Triad Financial Services Inc., Announces…

Triad Financial Services Inc., Announces Formation of Triad Manufactured Home Risk Purchasing Group for Manufactured Home Dealers

Jacksonville, Fla. (April 21,2017) – Triad Financial Services, Inc (Triad) has been providing services to the manufactured home industry for over 50 years. During this time, Triad has incorporated various services to better assist those in the manufactured home industry. In 2016, Triad created a Risk Purchasing Group (RPG) in response to the increasing demand for affordable liability insurance for manufactured home retail dealers. In addition to insurance savings, the program will provide periodic loss prevention and risk management tips and information. In addition to the general liability program, Triad’s insurance division provides competitively priced inventory open lot coverage, commercial property coverage, commercial auto insurance, coverage for contractors equipment, as well as access to a national homeowners program for manufactured housing. Recent changes in the manufactured home general liability insurance markets have...

the MHMSM Team 26 Apr 2017 Corporate Press Releases

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Call for Nominations for the RV/MH Hall …

Call for Nominations for the RV/MH Hall of Fame Class of 2018

ELKHART, Ind., -- It's still six months until the October 31, deadline for nominations for the RV/MH Hall of Fame Class of 2018, and Darryl Searer, president of the RV/MH Heritage Foundation (Foundation) wanted to remind those considering nominating someone that they should start working on their nomination. Searer said, "Even though we are intensely planning for the induction dinner celebration for the Class of 2017 on August 7, 2017, it's really not too early to start the process of nominating a deserving individual to the Hall of Fame for the Class of 2018. It's a lengthy process that should not wait until the last minute, so I urge those who are considering a nominee to download the guidelines and forms so their nominee can be considered for the Class of 2018." The nomination...

Soheyla Kovach 21 Apr 2017 Corporate Press Releases

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*** Price Reduction *** North Tampa Port…

*** Price Reduction *** North Tampa Portfolio - MH & RV | 380 Sites | Florida

Portfolio Overview The North Tampa Portfolio consist of 3 communities in which 2 are located in Port Richey while the 3rd is located in Hudson, FL. All the communities have very desirable locations and convenient for an owner to have centralized management to create economies of scale. The trailing cap rates as a portfolio are in the 6.06% to 8.09% range while the year 1 pro-forma cap rates are in the 7.09% to 8.58% range.  This portfolio is a perfect opportunity for an investor to capitalize on the strong demand and growth occurring in Florida while being able to create economies of scale with a purchase of 380 sites. Portfolio Summary Investment:              3 Property Portfolio Star Class:               2-3 MH Sites:                 70 RV Sites:  ...

the MHMSM Team 04 Apr 2017 Corporate Press Releases

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SECURITY MORTGAGE GROUP Finances $78,632…

SECURITY MORTGAGE GROUP Finances $78,632,000 in the First Quarter 2017

ROCHESTER, N.Y. – Security Mortgage Group, a national award-winning MH Community lending broker, is pleased to have financed $78,632,000 thus far in 2017 for several manufactured home communities nationwide. The most recent March closings included the following: Managing Director, Gerard D. DiMarco, Jr., secured acquisition financing for two manufactured home communities totaling 192 sites in Wyoming. The $4,750,000 loan featured a limited prepayment penalty and flexible lending terms. Gerry also helped negotiate financing for a repeat client’s purchase of a 184-site mobile home and RV park in Corpus Christi, TX with a non-recourse loan of $2,445,000.  Anthony J. DiMarco, the other managing director, helped negotiate financing for a repeat client’s Ohio and Kentucky MHC Portfolio with over 700 sites. The $26,025,000 non-recourse loan featured a long-term fixed rate.   In addition, Anthony closed a...

the MHMSM Team 04 Apr 2017 Corporate Press Releases

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Live Oaks & Blue Oaks MHP Portfolio | 17…

Live Oaks & Blue Oaks MHP Portfolio | 170 Sites | Topeka, Kansas

Property Overview MHRE Inc is pleased to present Live Oaks and Blue Oaks located in Topeka, Kansas. The communities are situated just 4.2 miles away from each other. Together, there are 170 MH sites. Blue Oaks has 8 park owned homes, of which 5 are occupied. It has strong employment next door with two distribution centers for Target and Home Depot. Live Oaks has 11 park owned homes, of which 4 are occupied. This community is in an excellent location with great road frontage and heavy traffic count, and it is near the university and other various businesses. The current owners have put in time and effort to clean and fix up the communities. They repaired and replaced the underground utility lines and fixed up the roads. The market for rentals is available,...

the MHMSM Team 04 Apr 2017 Corporate Press Releases

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Sizzling Sunshine Homes! @ Tunica Show …

 Sizzling Sunshine Homes! @ Tunica Show = Exclusive “Total Package” for More Sales for Retailers, Communities, and Builder/Developers

Business is BOOMING at Sunshine Homes!  Retailers, communities, and builder/developers are watching homes sell fast and at good margins.  Let’s review some of the reasons. As important as great homes are, what we do to support our independent retailers and communities that compliments those sizzling model homes in your inventory can mean the difference between okay sales, and homes that turn several times a year. First, if you’re ready to attract more customers that pay cash or has good credit, look no further than Sunshine Homes.  Our Energy Star ™ rated homes are residential designs that impress and sell previous owners of conventional homes.  You can have floorplans ordered either as a HUD Code manufactured home, or as a state coded modular home. Award-winning Stan Dye of Star Homes says that 99% of...

the MHMSM Team 24 Mar 2017 Corporate Press Releases

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