{"id":11669,"date":"2016-05-14T07:56:25","date_gmt":"2016-05-14T12:56:25","guid":{"rendered":"http:\/\/manufacturedhomepronews.com\/masthead\/?p=11669"},"modified":"2016-05-14T08:03:17","modified_gmt":"2016-05-14T13:03:17","slug":"the-gses-just-say-no-to-duty-to-serve-dts","status":"publish","type":"post","link":"https:\/\/www.manufacturedhomepronews.com\/masthead\/the-gses-just-say-no-to-duty-to-serve-dts\/","title":{"rendered":"The GSEs &#8211; Just Say No to Duty to Serve = DTS"},"content":{"rendered":"<p><span style=\"color: #222222;\"><span style=\"font-family: arial, sans-serif;\"><span style=\"font-size: small;\">One of the take aways from off-the-radar discussions in Vegas was this. The GSEs &#8211; <em>Government Sponsored Enterprises<\/em> of Fannie Mae and Freddie Mac &#8211; are being as polite as they can to our industry, but they have have clearly said they have no intention to offer chattel lending on manufactured housing. Support for lending on MHCs? \u00a0Sure, no brainer for them and MHC operators. But sources tell the <strong><em>Masthead<\/em><\/strong>, anything one hears or reads to the contrary about DTS for chattel is wishful thinking, or spin, etc. \u00a0<\/span><\/span><\/span><\/p><div id=\"manuf-1887062645\" class=\"manuf-content manuf-entity-placement\"><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3870480136270376\" crossorigin=\"anonymous\"><\/script><ins class=\"adsbygoogle\" style=\"display:block;\" data-ad-client=\"ca-pub-3870480136270376\" \ndata-ad-slot=\"\" \ndata-ad-format=\"auto\"><\/ins>\n<script> \n(adsbygoogle = window.adsbygoogle || []).push({}); \n<\/script>\n<\/div>\n<figure id=\"attachment_11672\" aria-describedby=\"caption-attachment-11672\" style=\"width: 575px\" class=\"wp-caption aligncenter\"><img fetchpriority=\"high\" decoding=\"async\" class=\"wp-image-11672 size-medium\" src=\"http:\/\/manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2016\/05\/freddie-mac-fannie-mae-creditValueWalk-postedMastheadBlog-MHProNews--575x304.jpg\" alt=\"freddie-mac-fannie-mae- creditValueWalk-postedMastheadBlog-MHProNews-\" width=\"575\" height=\"304\" srcset=\"https:\/\/www.manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2016\/05\/freddie-mac-fannie-mae-creditValueWalk-postedMastheadBlog-MHProNews--575x304.jpg 575w, https:\/\/www.manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2016\/05\/freddie-mac-fannie-mae-creditValueWalk-postedMastheadBlog-MHProNews--150x79.jpg 150w, https:\/\/www.manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2016\/05\/freddie-mac-fannie-mae-creditValueWalk-postedMastheadBlog-MHProNews-.jpg 640w\" sizes=\"(max-width: 575px) 100vw, 575px\" \/><figcaption id=\"caption-attachment-11672\" class=\"wp-caption-text\">GSEs &#8211; Government Sponsored Enterprises &#8211; Fannie Mae, Freddie Mac. Image credit ValueWalk and respective operation&#8217;s logos, posted here under fair use doctrine terms.<\/figcaption><\/figure>\n<p><span style=\"color: #222222;\"><span style=\"font-family: arial, sans-serif;\"><span style=\"font-size: small;\">&#8220;<strong>This ain&#8217;t happening<\/strong>.&#8221;<\/span><\/span><\/span><\/p>\n<p><span style=\"color: #222222;\"><span style=\"font-family: arial, sans-serif;\"><span style=\"font-size: small;\">We believe there can be value in cheerleading for a worthy cause.. We also believe in mutual victories, no one who works with manufactured housing ought to do so thinking they are about to enter into a losing proposition, or another blood bath such as occured for lenders in the late 1990s and early 2000s on MH chattel loan paper. \u00a0<\/span><\/span><\/span><\/p>\n<p><span style=\"color: #222222;\"><span style=\"font-family: arial, sans-serif;\"><span style=\"font-size: small;\">That nearly 2 decades old experience is what has caused the fears and concerns the GSEs want very much to avoid. We&#8217;ve long supported DTS, periodically brought the issue up, when others failed to do so. We believe this ought to be embraced by the GSEs, and the FHFA ought to make this happen. So what more needs to be said about this issue? \u00a0Some elements of the dicussion ought to include, but not necessarily be limited to, the following:<\/span><\/span><\/span><\/p>\n<figure id=\"attachment_9861\" aria-describedby=\"caption-attachment-9861\" style=\"width: 575px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-9861 size-medium\" src=\"http:\/\/manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2015\/05\/home-sales-rising-housing-wire-com-credit-posted-masthead-blog-mhpronews-com-2-575x273.jpg\" alt=\"home-sales-rising-housing-wire-com-credit-posted-masthead-blog-mhpronews-com- (2)\" width=\"575\" height=\"273\" srcset=\"https:\/\/www.manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2015\/05\/home-sales-rising-housing-wire-com-credit-posted-masthead-blog-mhpronews-com-2-575x273.jpg 575w, https:\/\/www.manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2015\/05\/home-sales-rising-housing-wire-com-credit-posted-masthead-blog-mhpronews-com-2-150x71.jpg 150w, https:\/\/www.manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2015\/05\/home-sales-rising-housing-wire-com-credit-posted-masthead-blog-mhpronews-com-2.jpg 631w\" sizes=\"(max-width: 575px) 100vw, 575px\" \/><figcaption id=\"caption-attachment-9861\" class=\"wp-caption-text\">Growing sales graphic, image credit &#8211;<em> housingwire.<\/em><\/figcaption><\/figure>\n<p><span style=\"color: #222222;\"><span style=\"font-family: arial, sans-serif;\"><span style=\"font-size: small;\"><strong>1) Is the law, the law?<\/strong> Is HERA 2008 which mandated DTS applicable to the GSEs on chattel lending? \u00a0Can you or I ignore a law that we don&#8217;t want applied to us?\u00a0<\/span><\/span><\/span><\/p>\n<p><strong><span style=\"color: #222222;\"><span style=\"font-family: arial, sans-serif;\"><span style=\"font-size: small;\">2) Should there be an effort to &#8220;win over&#8221; the GSEs? \u00a0<\/span><\/span><\/span><\/strong><span style=\"color: #222222;\"><span style=\"font-family: arial, sans-serif;\"><span style=\"font-size: small;\">To ally their fears? Show them how personal property loans on MH can profitably work for everyone&#8217;s benefit?<\/span><\/span><\/span><\/p>\n<p><span style=\"color: #222222;\"><span style=\"font-family: arial, sans-serif;\"><span style=\"font-size: small;\"><strong>3) Do the GSEs not see that if chattel lending works for four proven MH lenders<\/strong>\u00a0who make loans in most states, then why should they fear it?\u00a0<\/span><\/span><\/span><\/p>\n<p><span style=\"color: #222222;\"><span style=\"font-family: arial, sans-serif;\"><span style=\"font-size: small;\">4) Our sources tell us<strong> the ONLY way that DTS on home-only loans is likely to happen short term is for the FHFA to order that DTS on chattel lending takes place.<\/strong><\/span><\/span><\/span><\/p>\n<p><span style=\"color: #222222;\"><span style=\"font-family: arial, sans-serif;\"><span style=\"font-size: small;\"><strong>5) Given #4 above, what happened behind close doors in meetings with MHI, consumer groups and the FHFA?<\/strong> What happened to transparency? What happened to those media reports last fall suggesting chattel financing with DTS was an all but a done deal? Did something go sideways, and if so, what was that something(s)?<\/span><\/span><\/span><\/p>\n<p><span style=\"color: #222222;\"><span style=\"font-family: arial, sans-serif;\"><span style=\"font-size: small;\"><strong>6) When affordable housing is a growing crisis that manufactured housing can uniquely address,<\/strong> and with federal and state budgets so strained, as good corporate citizens, don&#8217;t the GSEs have a moral duty beyond the legal one to support MH with a sustainable lending program?<\/span><\/span><\/span><\/p>\n<p><span style=\"color: #222222;\"><span style=\"font-family: arial, sans-serif;\"><span style=\"font-size: small;\"><strong>7) It will likely take a major effort to get a DTS program that provides chattel lending from the GSEs.<\/strong> That&#8217;s the word heard by <strong><em>MHProNews<\/em><\/strong> in Vegas, from sources in DC and elsewhere. <\/span><\/span><\/span><\/p>\n<p><span style=\"color: #222222;\"><span style=\"font-family: arial, sans-serif;\"><span style=\"font-size: small;\">Let&#8217;s be clear. \u00a0While DTS could be helpful, and we support at <strong><em>MHProNews<\/em><\/strong> continue to support it, there has to be parallel paths that develop and increase our MH industry&#8217;s production. \u00a0We&#8217;re growing in new MH shipments, but not nearly at the pace we are capable of, and not at pace the nation needs to keep up with the growing demand for quality, affordable housing. <\/span><\/span><\/span><\/p>\n<p><span style=\"color: #222222;\"><span style=\"font-family: arial, sans-serif;\"><span style=\"font-size: small;\">We could grow faster with DTS, but there are solutions available right now that makes advancing a profitable, positive thing to pursue. <\/span><\/span><\/span><\/p>\n<p><span style=\"color: #222222;\"><span style=\"font-family: arial, sans-serif;\"><span style=\"font-size: small;\">Keep that DTS fire burning, but don&#8217;t sink all your eggs into that one basket. ##<\/span><\/span><\/span><\/p>\n<figure id=\"attachment_11446\" aria-describedby=\"caption-attachment-11446\" style=\"width: 350px\" class=\"wp-caption alignleft\"><a href=\"http:\/\/www.mhpronews.com\/home\/featured-articles\/april-2016\/11322-2016-tunica-manufactured-housing-show-recap-video-and-report\"><img decoding=\"async\" class=\"size-full wp-image-11446\" src=\"http:\/\/manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2016\/04\/SuperChargedMarketingSaleSeminarTunica2016-LATonyKovach-.jpg\" alt=\"SuperChargedMarketingSaleSeminarTunica2016-LATonyKovach-\" width=\"350\" height=\"260\" srcset=\"https:\/\/www.manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2016\/04\/SuperChargedMarketingSaleSeminarTunica2016-LATonyKovach-.jpg 350w, https:\/\/www.manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2016\/04\/SuperChargedMarketingSaleSeminarTunica2016-LATonyKovach--150x111.jpg 150w\" sizes=\"(max-width: 350px) 100vw, 350px\" \/><\/a><figcaption id=\"caption-attachment-11446\" class=\"wp-caption-text\">One of the educational sessions at the <a href=\"http:\/\/www.mhmarketingsalesmanagement.com\/home\/featured-articles\/april-2016\/11322-2016-tunica-manufactured-housing-show-recap-video-and-report\">2016 Tunica Show, to see the recap video, please click here <\/a>or the image above.<\/figcaption><\/figure>\n<p><span style=\"color: #222222;\"><span style=\"font-family: arial, sans-serif;\"><span style=\"font-size: small;\">By <a href=\"http:\/\/LATonyKovach.com\">L. A. &#8216;Tony&#8217; Kovach<\/a>.<\/span><\/span><\/span><\/p>\n<p><strong><span style=\"color: #555555;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">Connect<\/span><\/span><\/span><\/strong><span style=\"color: #555555;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">\u00a0<\/span><\/span><\/span><a href=\"https:\/\/www.linkedin.com\/in\/latonykovach\" target=\"_blank\"><span style=\"color: #2970a6;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">on LinkedIn<\/span><\/span><\/span><\/a><span style=\"color: #555555;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">.<\/span><\/span><\/span><\/p>\n<p><strong><span style=\"color: #000000;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">Free Twice Weekly emailed news, tips updates<\/span><\/span><\/span><\/strong><span style=\"color: #000000;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">\u00a0(<\/span><\/span><\/span><a href=\"http:\/\/www.mhmarketingsalesmanagement.com\/mhpronews.com\/newsletter\" target=\"_blank\"><span style=\"color: #005689;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">Newsletters look like this<\/span><\/span><\/span><\/a><span style=\"color: #000000;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">) sign up free in seconds at\u00a0<\/span><\/span><\/span><a href=\"http:\/\/www.mhmarketingsalesmanagement.com\/MHProNews.com\/Subscribe%20\" target=\"_blank\"><span style=\"color: #005689;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">MHProNews.com\/Subscribe\u00a0<\/span><\/span><\/span><\/a><\/p>\n<p><strong><span style=\"color: #000000;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">Office<\/span><\/span><\/span><\/strong><span style=\"color: #000000;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">\u00a0863-213-4090.<\/span><\/span><\/span><\/p>\n<p><a href=\"http:\/\/www.mhmarketingsalesmanagement.com\/MHC-MD.com\" target=\"_blank\"><span style=\"color: #005689;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">MHC-MD.com<\/span><\/span><\/span><\/a><span style=\"color: #000000;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">\u00a0and\u00a0<\/span><\/span><\/span><a href=\"http:\/\/www.mhmarketingsalesmanagement.com\/LATonyKovach.com\" target=\"_blank\"><span style=\"color: #005689;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">LATonyKovach.com<\/span><\/span><\/span><\/a><span style=\"color: #000000;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">.<\/span><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of the take aways from off-the-radar discussions in Vegas was this. The GSEs &#8211; Government Sponsored Enterprises of Fannie Mae and Freddie Mac &#8211; are being as polite as they can to our industry, but they have have clearly said they have no intention to offer chattel lending on manufactured housing. Support for lending &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"ast-button\" href=\"https:\/\/www.manufacturedhomepronews.com\/masthead\/the-gses-just-say-no-to-duty-to-serve-dts\/\"> <span class=\"screen-reader-text\">The GSEs &#8211; Just Say No to Duty to Serve = DTS<\/span> Read More \u00bb<\/a><\/p>\n","protected":false},"author":5,"featured_media":11672,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","footnotes":""},"categories":[5073],"tags":[1252,113,4444,354,917,1251,3,4445,1704,4443],"class_list":["post-11669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-analysis","tag-dts","tag-duty-to-serve","tag-fannie-mae","tag-fhfa","tag-freddie-mac","tag-government-sponsored-enterprises","tag-manufactured-housing","tag-no-secondary-market-manufactured-home-loans","tag-personal-property-loans","tag-the-gses"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The GSEs - Just Say No to Duty to Serve = DTS - Masthead L. 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