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MHI-week-in-review

Boehlert Departing MHI, Search Underway for New Head of Government Affairs

Effective next month, Senior Vice President of Government Affairs Jason Boehlert will be departing MHI to begin a new position as Executive Director of the National Association of Local Housing Finance Agencies (NALHFA) and National Association for County Community and Economic Development (NACCED).  Boehlert moves on after more than four years at the helm of MHI's government affairs department.  During this time, he helped oversee legislative and regulatory activities to:

  • provide industry relief from the Dodd-Frank Act and CFPB rules regulating mortgage markets in the wake of the housing crash;

  • develop legislation reforming Fannie Mae and Freddie Mac that, for the first time, would ensure manufactured home personal property loans had access to the secondary market and push for the regulatory implementation of Duty to Serve requirements for manufactured housing;

  • enact legislative provisions that mandated HUD hiring of the first full-time Manufactured Home Program Administrator in roughly a decade;

  • extend critical tax credit programs for builders of energy efficient manufactured and modular housing, and

  • prevent dual enforcement of construction and energy efficiency standards by DOE and HUD over manufactured housing.

MHI has already begun the search for a full-time replacement.  In the meantime, MHI is well represented in its legislative and regulatory activities by its internal and external lobbying team of:

  • Dick Jennison, President and CEO

  • Lois Starkey, Vice President, Regulatory Affairs

  • Rick Robinson, Vice President and General Counsel, Government Affairs

  • Porterfield, Lowenthal, Fettig & Sears which serves as MHI's external lobbying firm

MHI CFPB and Financial Services Updates

CFPB Updates Mortgage Rules for Small Entities

The CFPB updated its Small Entity Compliance Guides for the Ability-to-Repay and Qualified Mortgage Rule and the RESPA and TILA Mortgage Servicing Rules. The adjustments include two changes that will help certain nonprofit organizations continue to provide mortgage credit and servicing to underserved populations. Other changes lay out limited circumstances where lenders that exceed the points and fees cap can pay a refund of the excess amount plus interest to consumers and still have the loan be considered a Qualified Mortgage.  These updates incorporate adjustments that became effective on November 2, 2014. To view the guide,click here.

FHA Refinance of Borrowers in Negative Equity Positions: Program Extension

On November 16th, the Department of Housing and Urban Development (HUD) published Mortgagee Letter (ML) 2014-23, FHA Refinance of Borrowers in Negative Equity Positions (Short Refi): Program Extension, which extends the expiration date of the program through December 31, 2016, and reiterates the permitted use of proceeds from government entities and instrumentalities of government to extinguish a portion of a borrower's negative equity.  FHA's Short Refi program supports refinances for borrowers who owe more than the current value of their home.  For more information, click here.

HUD Reaffirms Administration Stance on Fannie Freddie Overhaul

On November 17th, HUD Secretary Julian Castro said that overhauling the mortgage finance system remains a top priority for the final two years of the Obama administration. Castro suggested that the next Congress consider legislation that would wind down and eventually eliminate mortgage giants Fannie Mae and Freddie Mac as part of the effort to boost the housing market's recovery.  Earlier this year, the Senate Banking Committee approved legislation (S. 1217) that would have replaced Fannie Mae and Freddie Mac with a new Federal Mortgage Insurance Corporation (FMIC). The legislation contained provisions supported by MHI requiring FMIC to provide secondary market access to manufactured home loans secured by personal property.  With Republicans assuming majority control of the Senate for the 114th Congress, it is expected the Senate Banking Committee, under the chairmanship of Sen. Richard Shelby (R-AL), will take a different approach to reforming the nation's secondary housing finance system.


For more information, contact Jason Boehlert, Senior Vice President of Government Affairs,  This e-mail address is being protected from spambots. You need JavaScript enabled to view it  or(703) 558-0660.

The HUD MHCC will Meet for the First Time in Two Years

The HUD Manufactured Housing Consensus Committee (MHCC) is slated to meet December 2-4 in Arlington, Virginia. It will be the first in-person meeting since October 2012 and the MHCC is expected to meet for a full three days rather than the 2 1/2 in previous years.  MHI and its eight member representatives will participate during the meeting.  MHIplans to provide public comments on the business before the committee, and will make a number of recommendations to HUD and the MHCC, including the following:

  • A recommendation to changes in the HUD regulations to further clarify that RV/Park Models are not manufactured homes and should not be regulated as such.

  • A recommendation that the MHCC thoroughly and seriously review the consensus recommendations of the DOE ASRAC Working Group on Manufactured Housing to ensure that the energy efficiency standards proposed take into consideration the affordability of manufactured homes to consumers.

  • A recommendation that DOE utilize HUD's framework under the HUD Procedural and Enforcement regulations for compliance and enforcement of any new energy efficiency standards.

  • A recommendation that HUD reverse or substantially modify its current policy requiring costly, time consuming and unnecessary alternative construction approvals for attached garages, including retroactive Subpart I investigation and correction of homes previously sold with attached garages.

  • Greater flexibility for HUD Code homes to be utilized for certain multifamily purposes such as offices for retailers, certain types of farmworker housing and housing used by workers in the oil and gas industries.

  • Several proposed changes and updates to the HUD Code and procedural and enforcement regulations which will provide for more flexible, less costly, and more innovative design and construction methodologies.

The MHCC has a new Administering Organization, Home Innovations Research Labs, formerly known as the NAHB (National Association of Homebuilders Research) foundation.  Home Innovations was the sole bidder for the HUD RFP issued last year.  The Systems Building Research Alliance (SBRA) submitted a bid but withdrew because of prohibitive costs associated becoming a certified organization by the American National Standards Institute (ANSI), as required by the Manufactured Home Improvement Act of 2000.

Further information about the upcoming meeting and an agenda can be found by clicking here.  For additional information about the work of the MHCC and the current membership click here.       

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

Manufactured Housing Fire Safety Report Reveals Good News

The National Fire Protection Association (NFPA) has updated its 2011 report on manufactured home fires, and the news continues to be positive.

According to the report, manufactured homes had a 2007-2011 fire death rate per 100,000 units that that was roughly the same as the rate for other one-or-two single family homes.  Manufactured homes built after the introduction of the HUD Code in 1976 have lower rates of civilian deaths per hundred reported deaths than pre HUD-Code homes.  The 2007-2011 death rate was 57% lower than for post standard homes for pre-standard manufactured homes.

According to the report "If all pre-HUD standard manufactured homes were removed from the inventory, the fire death rate per 100,000 occupied manufactured homes would be estimated at 1.9, or well below the range estimated for the rate for other one- or two-family homes."

The report found a disturbingly high rate of smoke alarm removal by occupants of manufactured homes.  Smoke alarms reportedly are missing in half (51%) of all manufactured home fires where smoke alarm status was reported.  Smoke alarms are required by the HUD Code.

Click here to view the 2013 NFPA report.

Government and Political News from Around the Nation

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

Alaska - Bill Walker (I) unveiled a bipartisan transition team to help him hit the ground running, before he declared election victory.  Click here to read more. 

Indiana - The state Supreme Court unanimously decided Indiana's Right to Work law is constitutional, overturning a lower court's finding. Unions are considering taking their case to the U.S. Supreme Court. Passed in 2012, the bill bars unions from forcing nonmembers to pay dues.  Click here to read more. 

Kansas - New fiscal estimates reveal that Kansas will collect $1 billion less in revenue over the next two years than previously projected by state budget officials.  Click here to read more.


Maryland - According to newly released budget figures, Gov.-elect Larry Hogan (R) will inherit a $600 million budget deficit when he takes the oath in January. Hogan said the deficit was not a surprise and he intends to honor campaign pledges and cut spending rather than raise taxes to meet the fiscal challenge.  Click here to read more.

New Mexico - State Rep. Don Tripp (R) was selected to be the Speaker of the House when the 2015 session convenes in January. Tripp will be the first Republican to hold the position since 1954.  Click here to read more.

Pennsylvania - Senate Republicans ousted Majority Leader Dominic Pileggi (R) and replaced him with the more conservative Sen. Jake Corman (R) for the upper chamber's top job. Upon his selection, Corman threw down the gauntlet and said that the natural gas extraction tax supported by Gov.-elect Tom Wolf (D) is dead on arrival in the Senate. Click here to read more.

Virginia - The House and Senate convened in a special session to pass legislation requested by state bond officials fixing a potential problem in the budget bill passed in September. Lawmakers also adopted a measure allowing health insurance companies to renew non-ACA compliant health plans.  Click here to read more.

Wisconsin - Gov. Scott Walker (R) wants to speed up the budget approval process next session, but legislative leaders are pushing back by pointing to the numerous steps involved in getting a budget enacted. Lawmakers sent the two-year budget in 2013 to the Governor on June 21st of that year, and say they will aim to get the next budget on his desk "in June." 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

Drama in Ohio: Fake News, Facts and Myths

Drama in Ohio: Fake News, Facts and Myths

The ongoing battle between the Ohio Manufactured Housing Association (OMHA) and Ohio Governor John Kasich over the status of the Ohio Manufactured Housing Commission (OMHC) has been taken to a whole new level, with what informed sources  are calling “fake news.” According to a story from WOSU, Gov. Kasich wants to merge the OMHC with the […]...

26 Apr 2017

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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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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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