{"id":11830,"date":"2016-06-25T05:24:44","date_gmt":"2016-06-25T10:24:44","guid":{"rendered":"http:\/\/manufacturedhomepronews.com\/masthead\/?p=11830"},"modified":"2016-06-27T14:22:47","modified_gmt":"2016-06-27T19:22:47","slug":"lender-says-mh-loan-option-hidden-by-mhi-president-manufactured-home-sales-lost","status":"publish","type":"post","link":"https:\/\/www.manufacturedhomepronews.com\/masthead\/lender-says-mh-loan-option-hidden-by-mhi-president-manufactured-home-sales-lost\/","title":{"rendered":"Lender Says MH Loan Option Hidden by MHI President, Manufactured Home Sales Lost"},"content":{"rendered":"<p align=\"CENTER\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">&#8220;<span style=\"color: #993300;\"><strong><em>Politics is really about the story you tell and getting the people on your side<\/em><\/strong><\/span>.&#8221;<\/span><\/span><\/span><\/p><div id=\"manuf-127540410\" 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<p align=\"CENTER\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">&#8212; Julie Pace &#8211;\u00a0Chief White House Correspondent for the Associated Press<\/span><\/span><\/span><\/p>\n<figure id=\"attachment_10671\" aria-describedby=\"caption-attachment-10671\" style=\"width: 75px\" class=\"wp-caption alignleft\"><img decoding=\"async\" class=\"wp-image-10671 size-full\" src=\"http:\/\/manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2015\/11\/LesliGooch-PhD-MHIvicePresident-GovernmentRelations-postedMHProNews75x75-.png\" alt=\"LesliGooch-PhD-MHIvicePresident-GovernmentRelations-postedMHProNews75x75-\" width=\"75\" height=\"75\" \/><figcaption id=\"caption-attachment-10671\" class=\"wp-caption-text\">Lesli Gooch, PhD, MHI.<\/figcaption><\/figure>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">At an MHI meeting in 2015, Lesli Gooch and a room full of industry professionals were introduced to a proposal about how good storytelling could enhance MH lending regulatory relief efforts.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">By spotlighting current manufactured homeowners and MH shoppers who have been impacted by the CFPB&#8217;s implementation of Dodd-Frank rules, a clearer understanding of the harm caused to real people could be told in a compelling way. \u00a0<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">It&#8217;s the &#8220;poster child&#8221; approach many other industries and businesses use successfully.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">Why not have a series of MH &#8220;poster child&#8221; stories, told through video, pictures, graphics and the written word? <\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">Then allow those real-life experiences of MH shoppers, MH homeowners and MH industry professionals convey the issues in a fashion that helps others connect to an otherwise technical and dry regulatory story.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">Gooch&#8217;s reaction?<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">Gooch immediately dismissed and shot the &#8220;poster child&#8221; concept down at that meeting.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">As the initial advocate and others outside that meeting room later discussed, the storytelling approach could be useful in countering a negative media narrative promoted by others opposing the Manufactured Housing Institute&#8217;s sponsored legislation &#8212; HR 650\/S 682 (<em><strong>Preserving Access..<\/strong><\/em><strong>.<\/strong>).<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">Decades of lobbying experiences by other industries proved that the poster child method could also help elected or appointed officials, policy advocates and their staffs to connect with those in the stories.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">So why would Gooch, with her PhD in hand, nix a widely proven method of political engagement?<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\"><b>More Manufactured Home Lending Opportunities Missed, Lost or Buried by MHI?\u00a0<\/b><\/span><\/span><\/span><\/p>\n<figure id=\"attachment_10284\" aria-describedby=\"caption-attachment-10284\" style=\"width: 101px\" class=\"wp-caption alignleft\"><img decoding=\"async\" class=\"size-full wp-image-10284\" src=\"http:\/\/manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2015\/08\/RichardDickJennison-MHI-CEO-PostedMHProNews-com.png\" alt=\"RichardDickJennison-MHI-CEO-PostedMHProNews-com\" width=\"101\" height=\"172\" srcset=\"https:\/\/www.manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2015\/08\/RichardDickJennison-MHI-CEO-PostedMHProNews-com.png 101w, https:\/\/www.manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2015\/08\/RichardDickJennison-MHI-CEO-PostedMHProNews-com-88x150.png 88w\" sizes=\"(max-width: 101px) 100vw, 101px\" \/><figcaption id=\"caption-attachment-10284\" class=\"wp-caption-text\">MHI President and CEO, RIchard &#8220;Dick&#8221; Jennison.<\/figcaption><\/figure>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">In 2013, the day prior to the opening of the Louisville Manufactured Housing Show, a national lender was a featured speaker at a semi-private industry educational\/promotional event attended by Richard J. &#8220;Dick&#8221; Jennison, the Manufactured Housing Institute&#8217;s (MHI) president.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">Jennison issued a statement that praised the event and its content.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">But that national lender\/speaker has told MHProNews that neither MHI&#8217;s Dick Jennison, nor the National Community<\/span><\/span><\/span><\/p>\n<figure id=\"attachment_4471\" aria-describedby=\"caption-attachment-4471\" style=\"width: 120px\" class=\"wp-caption alignright\"><img decoding=\"async\" class=\"size-full wp-image-4471\" src=\"http:\/\/manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2012\/09\/jenny-hodge-manufactured-housing-institute-mhi-national-communities-council-ncc-posted-mhmarketing-sales-management-mhpronews.com-.jpg\" alt=\"jenny-hodge-manufactured-housing-institute-mhi-national-communities-council-ncc-posted-mhmarketing-sales-management-mhpronews.com\" width=\"120\" height=\"180\" srcset=\"https:\/\/www.manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2012\/09\/jenny-hodge-manufactured-housing-institute-mhi-national-communities-council-ncc-posted-mhmarketing-sales-management-mhpronews.com-.jpg 120w, https:\/\/www.manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2012\/09\/jenny-hodge-manufactured-housing-institute-mhi-national-communities-council-ncc-posted-mhmarketing-sales-management-mhpronews.com--100x150.jpg 100w\" sizes=\"(max-width: 120px) 100vw, 120px\" \/><figcaption id=\"caption-attachment-4471\" class=\"wp-caption-text\">Jenny Hodge, MHI VP and National Communities Council (NCC)<\/figcaption><\/figure>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">Council&#8217;s (NCC) Jenny Hodge made any effort to advance an untapped option for more MH lending &#8212; that a creative and appealing loan program useful in both land lease and in land\/home sales already existed, but was grossly overlooked.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">Then, as now, MHI officially said that promoting new lending in manufactured housing was a top priority for MHI. <\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">In an <\/span><\/span><\/span><span style=\"color: #000080;\"><span style=\"font-family: Tahoma, serif;\"><span style=\"font-size: large;\"><u><a href=\"http:\/\/www.americanbanker.com\/bankthink\/manufactured-housing-industry-a-monopoly-anything-but-1079695-1.html\"><span style=\"color: #000080;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">opinion column published by AmericanBanker<\/span><\/span><\/span><\/a><\/u><\/span><\/span><\/span><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">, Gooch wrote:<\/span><\/span><\/span><\/p>\n<p><span style=\"color: #333333;\">\u201c<\/span><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span style=\"color: #b84700;\"><span lang=\"en-US\"><b>For the record, the Manufactured Housing Institute has been leading the campaign to bring more lenders into the manufactured housing market for years<\/b><\/span><\/span><span style=\"color: #333333;\"><span lang=\"en-US\">.\u201d<\/span><\/span> <\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">She went on to say that \u201c<\/span><span style=\"color: #b84700;\"><span lang=\"en-US\"><b>MHI wants to expand access to financing for manufactured housing and increase the number of lenders that offer such financing. It is time that we all work collaboratively toward constructive and actionable solutions<\/b><\/span><\/span><span style=\"color: #333333;\"><span lang=\"en-US\">.\u201d<\/span><\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">Those solutions, Gooch&#8217;s column noted, should include the FHFA encouraging the Government Sponsored Enterprises (GSEs) to do chattel lending.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">Gooch is partially correct, in as much as <strong><em>MHProNews<\/em><\/strong> confirmed sources closely connected with various non-Berkshire-Hathaway lenders that they were included in Duty to Serve (DTS)-related meetings.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">But numerous industry lenders \u2013 and lenders not in MHI that sought to advance programs for manufactured housing \u2013 have given insights that conflict with the rosy picture Gooch painted in<strong><em> American Banker<\/em><\/strong>. <\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">The known facts suggest that for whatever reasons or motives, MHI has missed numerous opportunities to expand manufactured housing home-only and land\/home lending. \u00a0The impact on the factory built housing industry in terms of lost sales could be in the billions of dollars annually.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\"><b>The Titus Dare<\/b><\/span><\/span><\/span><\/p>\n<figure id=\"attachment_11741\" aria-describedby=\"caption-attachment-11741\" style=\"width: 50px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-11741\" src=\"http:\/\/manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2016\/06\/TitusDareEagleOneFinancial-postedMHProNews-50x50-.jpg\" alt=\"TitusDareEagleOneFinancial-postedMHProNews-50x50-\" width=\"50\" height=\"50\" \/><figcaption id=\"caption-attachment-11741\" class=\"wp-caption-text\">Titus Dare, Eagle One Financial.<\/figcaption><\/figure>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">Dare&#8217;s first article <\/span><\/span><\/span><span style=\"color: #0000ff;\"><span style=\"font-family: 'Times New Roman', serif;\"><span style=\"font-size: large;\"><i><b><a href=\"http:\/\/www.mhmarketingsalesmanagement.com\/blogs\/industryvoices\/a-deeper-look-at-why-the-gses-say-no-to-securitizing-chattel-loans\/\"><span style=\"color: #000080;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><u>A Deeper Look at why the GSEs say no to Securitizing Chattel Loans<\/u><\/span><\/span><\/span><\/a><\/b><\/i><\/span><\/span><\/span><span style=\"color: #0000ff;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\"><i><b>,<\/b><\/i><\/span><\/span><\/span><\/span><i><b> <\/b><\/i><span style=\"color: #000000;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">includes this comment:<\/span><\/span><\/span><\/span><\/p>\n<p><span style=\"color: #000000;\">\u201c<\/span><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span style=\"color: #b84700;\"><span lang=\"en-US\"><b>It is MHI\u2019s lack of understanding of the function the GSEs have in providing paper to their core secondary lenders, such as Wells Fargo, Bank of America (BOA) and U.S. Bank<\/b><\/span><\/span><span style=\"color: #000000;\"><span lang=\"en-US\">.<\/span><\/span><span lang=\"en-US\">\u201d<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">If Gooch and MHI were sincere in their desire to work collaboratively to increase lending, then why have Dare&#8217;s insights been ignored?<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">According to a comment we received on Friday (6\/24\/16) from Dare:<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span style=\"color: #222222;\"><span lang=\"en-US\">&#8220;<\/span><\/span><span style=\"color: #b84700;\"><span lang=\"en-US\"><b>After my articles in MHProNews were published, I heard from industry and MHI members. But not a word or any follow up from anyone at the Manufactured Housing Institute<\/b><\/span><\/span><span style=\"color: #222222;\"><span lang=\"en-US\">.&#8221;<\/span><\/span> <\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\"><b>Other Missed Lending Opportunities? More non-MHI lenders ignored?<\/b><\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">This writer has made numerous efforts during the presidency of MHI CEO Jennison to address the need for more lending in manufactured housing. <\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">Meetings open to industry members were held in Tunica and Louisville.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">Underused or unused programs were examined that, given the proper attention and effort, could have then \u2013 and still today &#8211; significantly increase MH sales.<\/span><\/span><\/span><\/p>\n<figure id=\"attachment_9222\" aria-describedby=\"caption-attachment-9222\" style=\"width: 287px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-9222\" src=\"http:\/\/manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2014\/11\/bank-vault-door-closed-creditflickr-creative-commons-.png\" alt=\"bank-vault-door-closed-credit=flickr-creative-commons-\" width=\"287\" height=\"442\" srcset=\"https:\/\/www.manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2014\/11\/bank-vault-door-closed-creditflickr-creative-commons-.png 287w, https:\/\/www.manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2014\/11\/bank-vault-door-closed-creditflickr-creative-commons--97x150.png 97w, https:\/\/www.manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2014\/11\/bank-vault-door-closed-creditflickr-creative-commons--279x430.png 279w\" sizes=\"(max-width: 287px) 100vw, 287px\" \/><figcaption id=\"caption-attachment-9222\" class=\"wp-caption-text\">How much does the locked door on more lending options cost manufactured housing industry members every year? Photo credit, FlickrCreativeCommons.<\/figcaption><\/figure>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">Dozens of industry pros who came to each of those sessions and events, and thousands more who read about them wondered: What happened?<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">Good questions. Some of those took place prior to Lesli Gooch coming on board, but they were known to Jennison, MHI&#8217;s president. Why did he fail to engage on those opportunities? <\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\"><b>Looking Back at U.S. Bank<\/b><\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">This writer signaled in the summer of 2014 <a href=\"http:\/\/www.mhmarketingsalesmanagement.com\/home\/featured-articles\/september-2014\/8244-the-high-cost-of-low-volume-mh-sales-for-retailers-communities-factories-and-others\"><strong><em>The High Cost of Low Volume MH Sales<\/em><\/strong><\/a>. Within months of that column, <a href=\"http:\/\/manufacturedhomepronews.com\/masthead\/bank-vault-door-closes-on-manufactured-housing-lender\/\">U.S. Bank pulled out of the manufactured housing lending market<\/a>.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">Our high-level contacts at U.S. Bank reported, both off-the-record and in official statements, that low volume and regulatory risks caused them to walk away from a home-only lending program that was profitable, but whose volume was too low to continue to fight the long-term regulatory battles.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">So it isn&#8217;t just MHARR that suggests that MHI has failed to correct the problems with MH industry home lending. Nor is it just sources inside or close to MHARR that accuse MHI of de facto choking off lending with the goal of causing independent businesses to sell off to MHI member companies, or close shop. <\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">In the light of such facts, do <\/span><span style=\"color: #222222;\"><span lang=\"en-US\">concerns raised by MHARR CEO M. Mark Weiss, JD,<\/span><\/span><\/span><\/span><\/p>\n<figure id=\"attachment_10675\" aria-describedby=\"caption-attachment-10675\" style=\"width: 75px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-10675\" src=\"http:\/\/manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2015\/11\/M-MarkWeiss-MHARRPresident-ManufacturedHousingAssociationRegulatoryReform-posted-MHProNews-com-75x75-.png\" alt=\"M-MarkWeiss-MHARRPresident-ManufacturedHousingAssociationRegulatoryReform-posted-MHProNews-com-75x75-\" width=\"75\" height=\"75\" \/><figcaption id=\"caption-attachment-10675\" class=\"wp-caption-text\">M Mark Weiss, JD, President and CEO of MHARR.<\/figcaption><\/figure>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span style=\"color: #222222;\"><span lang=\"en-US\">asking for the minutes of the closed-door MHI meeting with FHFA about getting the GSE&#8217;s to do chattel lending on manufactured homes take on a more urgent look?<\/span><\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\"><b>View from the Masthead<\/b><\/span><\/span><\/span><\/p>\n<p><span style=\"color: #222222;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">Management from one of the GSEs met privately with me, at their request, in Las Vegas at the MHI Congress and Expo event. As the <\/span><\/span><\/span><\/span><a href=\"http:\/\/manufacturedhomepronews.com\/masthead\/the-gses-just-say-no-to-duty-to-serve-dts\/\"><em><span style=\"color: #222222;\"><span style=\"font-family: Tahoma, serif;\"><span style=\"font-size: large;\"><u><b><span style=\"color: #000080;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">Masthead<\/span><\/span><\/span><\/b><\/u><\/span><\/span><\/span><\/em><u><em>\u00a0<\/em>\u00a0<\/u><u><\/u><span style=\"color: #000080;\"><u><span style=\"color: #222222;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">previously reported,<\/span><\/span><\/span><\/u><\/span><\/a><span style=\"color: #222222;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\"> we were told, off the record,\u00a0that there was not much respect at that giant organization for MHI.<\/span><\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><em><span style=\"color: #222222;\"><span lang=\"en-US\"><b>MHProNews<\/b><\/span><\/span><\/em><span style=\"color: #222222;\"><span lang=\"en-US\"> was also told that the GSEs would not do chattel lending on manufactured housing, unless the FHFA ordered it.<\/span><\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span style=\"color: #222222;\"><span lang=\"en-US\">It was that report that caused Titus Dare to reach out and share his insights on how MHI has fumbled this opportunity in recent years. <\/span><\/span><\/span><\/span><\/p>\n<p><span style=\"color: #222222;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">Dare&#8217;s reporting seems balanced, in as much as he reminds the industry that, prior to the current MHI regime, there was progress made with the GSEs, and that some<\/span><\/span><\/span><\/span><b> <\/b><span style=\"color: #222222;\"><span style=\"font-family: Tahoma, serif;\"><span style=\"font-size: large;\"><u><b><a href=\"http:\/\/www.mhmarketingsalesmanagement.com\/home\/featured-articles\/june-2016\/138-general-manufactured-housing-industry-topics\/11610-duty-to-serve-by-gses-long-term-mortgages-on-leased-land-its-already-been-done\"><span style=\"color: #000080;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">$150 million in lending in land lease manufactured home communities<\/span><\/span><\/span><\/a><\/b><\/u><\/span><\/span><\/span> <span style=\"color: #222222;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\"><b>was successfully done. <\/b><\/span><\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span style=\"color: #222222;\"><span lang=\"en-US\">Dare is currently involved in a non-MH project, so he has no obvious axe to grind, other than his desire to see manufactured housing prosper well beyond its current low levels.<\/span><\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\"><b>Deliberately Misleading the MH Industry?<\/b><\/span><\/span><\/span><\/p>\n<p><em><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\"><b>MHProNews<\/b><\/span><\/span><\/span><\/em><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\"> has shined a spotlight on the fact that Lesli Gooch, with Dick Jennison&#8217;s okay, issued a statement to industry members that was technically accurate, but completely missing the fact that Senator Joe Donnelly&#8217;s pro-MH statements were strongly resisted by the CFPB&#8217;s Richard Cordray (see the <\/span><\/span><\/span><span style=\"color: #000080;\"><span style=\"font-family: Tahoma, serif;\"><span style=\"font-size: large;\"><u><a href=\"http:\/\/www.mhmarketingsalesmanagement.com\/home\/featured-articles\/june-2016\/138-general-manufactured-housing-industry-topics\/11642-why-did-4-9-16-mhis-housing-alert-mislead-association-and-industry-members\"><span style=\"color: #000080;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">MHI Housing alert, CSPAN video and analysis linked here<\/span><\/span><\/span><\/a><\/u><\/span><\/span><\/span><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">.)<\/span><\/span><\/span><\/p>\n<figure id=\"attachment_11725\" aria-describedby=\"caption-attachment-11725\" style=\"width: 600px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/manufacturedhomelivingnews.com\/media-should-re-visit-dodd-frank-reporting-in-light-of-congressional-testimony\/\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-11725\" src=\"http:\/\/manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2016\/06\/RichardCordrayCFPB-ManufacturedHousingRegulationsCSPANstill-InsideMHvideoPostedMHProNews-com-.png\" alt=\"RichardCordrayCFPB-ManufacturedHousingRegulationsCSPANstill-InsideMHvideoPostedMHProNews-com-\" width=\"600\" height=\"463\" srcset=\"https:\/\/www.manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2016\/06\/RichardCordrayCFPB-ManufacturedHousingRegulationsCSPANstill-InsideMHvideoPostedMHProNews-com-.png 600w, https:\/\/www.manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2016\/06\/RichardCordrayCFPB-ManufacturedHousingRegulationsCSPANstill-InsideMHvideoPostedMHProNews-com--150x116.png 150w, https:\/\/www.manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2016\/06\/RichardCordrayCFPB-ManufacturedHousingRegulationsCSPANstill-InsideMHvideoPostedMHProNews-com--557x430.png 557w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/a><figcaption id=\"caption-attachment-11725\" class=\"wp-caption-text\">See the <a href=\"http:\/\/manufacturedhomelivingnews.com\/media-should-re-visit-dodd-frank-reporting-in-light-of-congressional-testimony\/\"><strong><em>MHLivingNews<\/em><\/strong>\u00a0 enhanced CSPAN video, at this link here<\/a>.<\/figcaption><\/figure>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">MHProNews provided MHI repeated opportunities to answer questions on these topics; in each case, they declined or opted not to reply.<\/span><\/span><\/span><\/p>\n<figure id=\"attachment_9867\" aria-describedby=\"caption-attachment-9867\" style=\"width: 182px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-9867\" src=\"http:\/\/manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2015\/05\/USsenatorJoeDonnellyD-IN-posted-Masthead-blog-ManufacturedHousing-MHProNews-com-.png\" alt=\"USsenatorJoeDonnellyD-IN-posted-Masthead-blog-ManufacturedHousing-MHProNews-com-\" width=\"182\" height=\"191\" srcset=\"https:\/\/www.manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2015\/05\/USsenatorJoeDonnellyD-IN-posted-Masthead-blog-ManufacturedHousing-MHProNews-com-.png 255w, https:\/\/www.manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2015\/05\/USsenatorJoeDonnellyD-IN-posted-Masthead-blog-ManufacturedHousing-MHProNews-com--143x150.png 143w\" sizes=\"(max-width: 182px) 100vw, 182px\" \/><figcaption id=\"caption-attachment-9867\" class=\"wp-caption-text\">U.S. Senator Joe Donnelly, (D-IN).<\/figcaption><\/figure>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">When MHProNews formally requested that MHI permit a video and questions for Sen. Donnelly&#8217;s upcoming talk to MHI members in Indianapolis, MHI responded with a strongly worded <\/span><span lang=\"en-US\"><b>no<\/b><\/span><span lang=\"en-US\">. <\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">Gooch claimed in her op-ed to American Banker that now is the time \u201c<\/span><span style=\"color: #b84700;\"><span lang=\"en-US\"><b>that we all work collaboratively toward constructive and actionable solutions.<\/b><\/span><\/span><span style=\"color: #000000;\"><span lang=\"en-US\">\u201d <\/span><\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span style=\"color: #000000;\"><span lang=\"en-US\">Yet it is Gooch \u2013 as noted above &#8211; who publicly declined using any supportive video and other poster child -type storytelling efforts by MHLivingNews or MHProNews on behalf of MHI&#8217;s bill. <\/span><\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span style=\"color: #000000;\"><span lang=\"en-US\">Do they really want it to pass?<\/span><\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span style=\"color: #000000;\"><span lang=\"en-US\">It is Gooch and company that have failed to follow up with Titus Dare, to see what they might learn from him on getting the Duty to Serve (DTS) successfully implemented by the GSEs.<\/span><\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span style=\"color: #000000;\"><span lang=\"en-US\">Do they really want DTS to become reality? If not, why not?<\/span><\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span style=\"color: #000000;\"><span lang=\"en-US\">When Gooch, writing on the association&#8217;s behalf, says that MHI \u201c<\/span><\/span><span style=\"color: #b84700;\"><span lang=\"en-US\"><b>has been leading the campaign to bring more lenders into the manufactured housing market for years<\/b><\/span><\/span><span style=\"color: #333333;\"><span lang=\"en-US\">\u201d<\/span><\/span><span style=\"color: #000000;\"><span lang=\"en-US\"> &#8212; doesn&#8217;t the evidence suggest otherwise? <\/span><\/span><\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<figure id=\"attachment_9399\" aria-describedby=\"caption-attachment-9399\" style=\"width: 326px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-9399\" src=\"http:\/\/manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2014\/12\/cash-bag-wikicommons-posted-mhpronews-1.jpg\" alt=\"cash-bag-wikicommons--posted-mhpronews- (1)\" width=\"326\" height=\"226\" srcset=\"https:\/\/www.manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2014\/12\/cash-bag-wikicommons-posted-mhpronews-1.jpg 326w, https:\/\/www.manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2014\/12\/cash-bag-wikicommons-posted-mhpronews-1-150x103.jpg 150w\" sizes=\"(max-width: 326px) 100vw, 326px\" \/><figcaption id=\"caption-attachment-9399\" class=\"wp-caption-text\">If you look carefully, the money bag has the top choked off. Choking off manufactured housing lending options harms prospectiveMH \u00a0buyers, MH home owners and tens of thousands of manufactured home industry professionals. Indeed, the case can be made that lost MH lending options means lost new home and resales &#8211; thus \u00a0harming everyone in the industry&#8217;s mix. So why allow this pattern of lost lending opportunities to continue at MHI? Photo credit, WikiCommons.<\/figcaption><\/figure>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span style=\"color: #000000;\"><span lang=\"en-US\">How does one explain the repeated failures by MHI staff to embrace options and opportunities or new lenders into the MHI space that could lead the industry into more competitive lending and more new manufactured home sales?<\/span><\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\"><b>Respected and High-Profile Members Who Won&#8217;t be at the MHI meeting in Indy<\/b><\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">There are numerous voices that are telling MHProNews, off the record, that they won&#8217;t be in Indianapolis for MHI&#8217;s Summer Meeting. Others are saying they will go, but still expect more of the same.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">One pro stated they were shocked that MHI was indirectly admitting they were once more being blind-sided on the &#8220;anti-MHI rider&#8221; that a message from Jennison urgently called on industry professionals to oppose. <\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">As some are quietly asking: Is it all a show? <\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">If the staff was serious about getting more lending and passage of their bill, how to explain the numerous obvious, yet missed, opportunities outlined in this article? Theories and allegations on these issues abound. <\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">In our rapidly approaching July issue, we will feature <\/span><span lang=\"en-US\"><b>on the record<\/b><\/span><span lang=\"en-US\"> comments from well-known and respected operations that say:<\/span><\/span><\/span><\/p>\n<ul>\n<li>\n<p align=\"LEFT\"><strong><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">they support MHI, but suggest that nothing much is getting done<\/span><\/span><\/span><\/strong><\/p>\n<\/li>\n<li>\n<p align=\"LEFT\"><strong><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">that MHI may benefit a select few, but has failed the industry at large and are calling for a new association to be formed<\/span><\/span><\/span><\/strong><\/p>\n<\/li>\n<li>\n<p align=\"LEFT\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">We may have more details on a source that says he has spoken with industry professionals prepared to put over a million dollars into funding a new post-production association and promotional effort.<\/span><\/span><\/span><\/p>\n<\/li>\n<\/ul>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">The <\/span><em><span lang=\"en-US\"><b>Masthead<\/b><\/span><\/em><span lang=\"en-US\">\u00a0 has been sounding the klaxon that if MHI is to avoid more embarrassment or further internal divisions, changes &#8212; including some level of house cleaning &#8212; must take place. <\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">There have been rumors that one or more MHI staff members &#8212; seeing the coverage and the growing revelations &#8212; are polishing resumes and looking for new opportunities outside of manufactured housing. <\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\"><b>Pulling the Threads Together&#8230;<\/b><\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">The AP&#8217;s Julie Pace is correct. &#8220;<span style=\"color: #993300;\"><em><strong>Politics is really about the story you tell and getting the people on your side<\/strong><\/em><\/span>.&#8221; <\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">MHI&#8217;s communications to industry, and to those they claim to want to influence, could be termed lackluster, dry and &#8212; given that <strong><em>Preserving Access<\/em> <\/strong>is stalled &#8212; ineffective.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">They failed to get the GSE&#8217;s or FHFA to say yes to chattel lending. <\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">There are many bright spots in MHVille, but how many are directly attributable to MHI? <\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">As a dues-paying, elected MHI board member, this writer has as recently as this week written Congress on behalf of the<\/span><\/span><\/span><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\"><b> Preserving Access to Manufactured Housing Act. <\/b><\/span><\/span><\/span><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">Not many in the industry could claim to have created more educational storytelling than <\/span><\/span><\/span><span style=\"color: #000080;\"><span style=\"font-family: Tahoma, serif;\"><span style=\"font-size: large;\"><u><a href=\"http:\/\/MHLivingNews.com\/\"><span style=\"color: #000080;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">MHLivingNews.com<\/span><\/span><\/span><\/a><\/u><\/span><\/span><\/span><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\"> has, all accomplished with the support and involvement of a range of MH companies and our team members. <\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\"><strong>We believe in the industry.<\/strong> We believe, too, that the facts show that something dramatic has to happen at MHI, because it clearly is ineffective as it is currently operating. <\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">Gooch wrote about \u201c<\/span><span style=\"color: #b84700;\"><span lang=\"en-US\">numerous articles about MHI&#8217;s strong support for the inclusion of chattel lending in the rule<\/span><\/span><span style=\"color: #333333;\"><span lang=\"en-US\">.<\/span><\/span><span lang=\"en-US\">\u201d A recent MHI message told their members that MHI \u201c<\/span><span style=\"color: #b84700;\"><span lang=\"en-US\">urged<\/span><\/span><span lang=\"en-US\">\u201d HUD to make changes in their regulatory regimen.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">If <em>writing<\/em> and <em>urging<\/em> were the only things needed to get implementation or regulations to change, or bills to pass, they would have succeeded long ago.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">But the opposite is clearly evidenced by Gooch&#8217;s own letters to American Banker, when she says they&#8217;ve been working on these issues for years. Isn&#8217;t that like saying, they&#8217;ve failed to move the ball for years? How long does one keep a coach or player that doesn&#8217;t score points for the home team?<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">Yes, D.C. is in gridlock, as MHI defenders say. But if they can&#8217;t get something done, why does the MHI staff continue to grow? What are they all doing now to successfully address issues, rather than &#8220;<span style=\"color: #993300;\">urge<\/span>&#8221; and &#8220;<span style=\"color: #993300;\">strongly support<\/span>&#8221; a change? <\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">It is MHI members who are quietly telling the <\/span><em><span lang=\"en-US\"><b>Masthead<\/b><\/span><\/em><span lang=\"en-US\"> that MHI had the opportunity to get the MLO rule changed. Those same voices tell us that achieving that success could have led to others on points and fee thresholds, the twin goals of <strong><em>Preserving Access<\/em><\/strong>. <\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">If MHI&#8217;s leadership wants to move the ball down the field and score points that sell more homes, a serious series of changes must take place at MHI.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">As strong supporters of MH industry professionals and homeowners, only success should be accepted.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">We have too good a story to tell! Why isn&#8217;t MHI effectively telling it? How many lost sales will we accept before change is demanded, or a new association is formed? ##<br \/>\n<\/span><\/span><\/span><\/p>\n<p><strong><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">Footnotes<\/span><\/span><\/strong><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">1) The following two MHARR Washington Updates each include references to the handling by MHI of the Duty-to-Serve rule, and MHARR&#8217;s allegations that this is being done to favor the largest lenders; i.e. the Berkshire-Hathaway owned lenders.<\/span><\/span><\/p>\n<p><a href=\"http:\/\/www.mhmarketingsalesmanagement.com\/images\/stories\/uploads\/MHARR_APRIL_21_2016_WASHINGTON_UPDATE.pdf\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">http:\/\/www.mhpronews.com\/images\/stories\/uploads\/MHARR_APRIL_21_2016_WASHINGTON_UPDATE.pdf<\/span><\/span><\/a><\/p>\n<p><a href=\"http:\/\/www.mhmarketingsalesmanagement.com\/latest-news-from-mharr\/11445-mharr-washington-update-report-and-analysis\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">http:\/\/www.mhpronews.com\/latest-news-from-mharr\/11445-mharr-washington-update-report-and-analysis<\/span><\/span><\/a><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">2) For updates on queries and comments regarding this message from industry members, please see below. (6.26 and 6.27.2017)<\/span><\/span><\/p>\n<figure id=\"attachment_11724\" aria-describedby=\"caption-attachment-11724\" style=\"width: 250px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-11724\" src=\"http:\/\/manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2016\/06\/LATonyKovach-QuestioningNYSAAteam-NewYorkHousingAssociation-MHProNews-com-PhotoCreditMarkSimon-250x167.jpg\" alt=\"LATonyKovach-QuestioningNYSAAteam-NewYorkHousingAssociation-MHProNews-com-PhotoCreditMarkSimon--250x167\" width=\"250\" height=\"167\" srcset=\"https:\/\/www.manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2016\/06\/LATonyKovach-QuestioningNYSAAteam-NewYorkHousingAssociation-MHProNews-com-PhotoCreditMarkSimon-250x167.jpg 250w, https:\/\/www.manufacturedhomepronews.com\/masthead\/wp-content\/uploads\/2016\/06\/LATonyKovach-QuestioningNYSAAteam-NewYorkHousingAssociation-MHProNews-com-PhotoCreditMarkSimon-250x167-150x100.jpg 150w\" sizes=\"(max-width: 250px) 100vw, 250px\" \/><figcaption id=\"caption-attachment-11724\" class=\"wp-caption-text\">Photo taken during New York Housing Association meeting, Tony questioning regulators.<\/figcaption><\/figure>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">By <a href=\"http:\/\/LATonyKovach.com\">L. A. &#8216;Tony&#8217; Kovach<\/a>.<\/span><\/span><\/span><\/p>\n<p><span style=\"color: #555555;\"><span style=\"font-family: Verdana, 'BitStream vera Sans', Tahoma, Helvetica, sans-serif;\"><span style=\"font-size: small;\"><span style=\"color: #222222;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">Managing Member of LifeStyle Factory Homes, LLC.<br \/>\nPublisher of\u00a0<a href=\"http:\/\/MHLivingNews.com\">MHLivingNews.com<\/a>, <a href=\"http:\/\/MHProNews.com\">MHProNews.com<\/a> and<strong> Inside MH<\/strong>\u00a0storytelling video series.<br \/>\nMHI member, elected MHI Suppliers Division board member.<br \/>\nConsultant and service provider to the MH industry.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span style=\"color: #000000;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">Office 863-213-4090.<br \/>\nConnect on LinkedIn \u2013<br \/>\n<\/span><\/span><\/span><a href=\"https:\/\/www.linkedin.com\/in\/latonykovach\"><span style=\"color: #005689;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">https:\/\/www.linkedin.com\/in\/latonykovach<\/span><\/span><\/span><\/a><\/p>\n<p><strong><span style=\"color: #000000;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><b>It\u2019s #1!<\/b><\/span><\/span><\/span><\/strong><span style=\"color: #000000;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">\u00a0Get our industry leading,\u00a0<\/span><\/span><\/span><span style=\"color: #000000;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><b>free, Twice Weekly emailed news, tips updates<\/b><\/span><\/span><\/span><span style=\"color: #000000;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">\u00a0(our\u00a0<\/span><\/span><\/span><a href=\"http:\/\/www.mhmarketingsalesmanagement.com\/newsletter\/\" target=\"_blank\"><span style=\"color: #2970a6;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">emailed Newsletters look like this<\/span><\/span><\/span><\/a><span style=\"color: #000000;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">) \u2013 sign up free in seconds at\u00a0<\/span><\/span><\/span><a href=\"http:\/\/www.mhmarketingsalesmanagement.com\/MHProNews.com\/Subscribe\" target=\"_blank\"><span style=\"color: #2970a6;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">MHProNews.com\/Subscribe<\/span><\/span><\/span><\/a><span style=\"color: #005689;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">.<\/span><\/span><\/span><span style=\"color: #000000;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">\u00a0<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">(<\/span><\/span><\/span><strong><span style=\"color: #0000ff;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">Editor&#8217;s notes<\/span><\/span><\/span><\/span><\/strong><strong><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">:<\/span><\/span><\/span><\/strong><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">\u00a0we&#8217;ve had<\/span><\/span><\/span><span style=\"color: #0000ff;\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\"> numerous messages and calls about this column<\/span><\/span><\/span><\/span><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">, and previously about others that cited Titus Dare&#8217;s writing and work. Among the messages were those who have worked with Dare on these home-only GSE loans in the manufactured home community market, or did committee work with him, etc. \u00a0<\/span><\/span><\/span><\/p>\n<p lang=\"en-US\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">Among those messages that came in on 6.25.2016, two questioned the total amount of those GSE originated loans. \u00a0We&#8217;ve therefor asked Titus Dare to double check his records, and we will update that if\/as needed for accuracy. \u00a0MHProNews has been and will always seek to be for getting the facts correctly. \u00a0Dare has texted back saying he&#8217;s happy to double check on those figures next week and will advise as needed, so that too suggests a desire for accuracy.<\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">A comment from a high level MHI member used words to the effect that MHI can&#8217;t keep a lender out of the manufactured housing market, regardless if such a lender was encouraged or discouraged by MHI.\u00a0While that&#8217;s <\/span><\/span><\/span><strong><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">technically true, <\/span><\/span><\/span><\/strong><em><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">it misses two broader realities<\/span><\/span><\/span><\/em><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">. <\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">First,\u00a0<\/span><\/span><\/span><strong><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">The low volume of MH loans<\/span><\/span><\/span><\/strong><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\"> &#8211; combined with other factors such as the CFPB&#8217;s onerous regulatory regime &#8211; is what drove US Bank out. \u00a0Low volume is a piece of the puzzle for new MH sales growth, which is why that factor was noted in the original column, above. <\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">Opening up new lending, especially on a national scale, requires significant time, talent and financial resources. So anything a prospective lender can do to bring those up-front costs down before going to market will make it easier for a new lender to say &#8211; yes, we want to make loans on manufactured housing. \u00a0<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">That also means the reverse is true. \u00a0If a prospective lender finds they aren&#8217;t getting interest or support from a national association (in this case, MHI) that repeatedly states that new lending is high priority for them, isn&#8217;t that a reason to question the wisdom of entering into making loans in MHVille?<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">So logically &#8211; yes, failure for MHI to encourage lenders can be costly to the industry at large.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">The second point is that Gooch&#8217;s article in <\/span><\/span><\/span><em><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">American Banker<\/span><\/span><\/span><\/em><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">, was it entirely accurate when it says that MHI wants to encourage new lenders, or not? \u00a0Doesn&#8217;t the evidence indicate otherwise? \u00a0Didn&#8217;t key MHI staff members &#8211; at a minimum &#8211; fail to encourage lenders and options that were presented to them in a meeting? \u00a0And that meeting had dozens in attendance, including me.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">The objective reader can see that\u00a0<a href=\"http:\/\/www.mhmarketingsalesmanagement.com\/home\/featured-articles\/june-2016\/138-general-manufactured-housing-industry-topics\/11642-why-did-4-9-16-mhis-housing-alert-mislead-association-and-industry-members\">Gooch, with Jennison&#8217;s okay, sent out a MHI Housing Alert message to members that distorted what acctually took place in the hearing with Senator Joe Donnelly and CFPB&#8217;s Richard Cordray<\/a>. Typos or honest mistakes can happen to anyone, and most people understand those for what they are. But once someone has deliberately decieved, it can be hard to regain trust.<\/span><\/span><\/span><\/p>\n<p lang=\"en-US\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">Organizations are obviously made up of people, and an association has staff that does its work. \u00a0This pro-Industry trade publication has questioned the allegations, facts and concerns raised about members of the MHI staff. \u00a0These concerns are routinely brought to us by third parties. So MHProNews spotlighting staff at an organization isn&#8217;t the same as condemning the organization, of which this writer is a member.<\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">So what needs no update is that <\/span><\/span><\/span><em><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">whatever the precise amount of the loans involved, or how many lenders MHI staff members may have failed to encourage to lend in the MH market, the principles noted above all still apply.<\/span><\/span><\/span><\/em><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\"> \u00a0Why did MHI not contact Dare? \u00a0Why did Dick Jennison or Jenny Hodge not encourage other lending in the MH space when, they met personally with a lender interested in doing work in the manufactured housing market? \u00a0Was Lesli Gooch incorrect in saying that MHI encourages more lenders? <\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">MH has a good story to tell, and<\/span><\/span><\/span><em><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\"> we are busy telling it.<\/span><\/span><\/span><\/em> <span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\"><span lang=\"en-US\">\u00a0<\/span><\/span><\/span><\/p>\n<p lang=\"en-US\"><span style=\"font-family: Tahoma, sans-serif;\"><span style=\"font-size: small;\">MH should be doing far better than it is, and part of the puzzle requires that collectively we must identify the roadblocks inside and outside of our industry that keep manufactured housing from advancing to its true potential, which Dick Jennison suggested in Louisville in 2015 should be 500,000 new homes per year. Are you for 600% growth for your business, anyone?)\u00a0<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Politics is really about the story you tell and getting the people on your side.&#8221; &#8212; Julie Pace &#8211;\u00a0Chief White House Correspondent for the Associated Press At an MHI meeting in 2015, Lesli Gooch and a room full of industry professionals were introduced to a proposal about how good storytelling could enhance MH lending regulatory &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"ast-button\" href=\"https:\/\/www.manufacturedhomepronews.com\/masthead\/lender-says-mh-loan-option-hidden-by-mhi-president-manufactured-home-sales-lost\/\"> <span class=\"screen-reader-text\">Lender Says MH Loan Option Hidden by MHI President, Manufactured Home Sales Lost<\/span> Read More \u00bb<\/a><\/p>\n","protected":false},"author":5,"featured_media":9222,"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":[4493,4494,4496,4468,1323,4207,3,275,4495,2552,2911,4498,4497],"class_list":["post-11830","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-analysis","tag-evidence","tag-failed","tag-jenny-hodge","tag-lesli-gooch","tag-lost-opportunities","tag-m-mark-weiss","tag-manufactured-housing","tag-manufactured-housing-institute","tag-more-lending-options","tag-richard-dick-jennison","tag-richard-cordray","tag-senator-joe-donnelly","tag-titus-dare"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Lender Says MH Loan Option Hidden by MHI President, Manufactured Home Sales Lost - Masthead L. A. &#039;Tony&#039; Kovach<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.manufacturedhomepronews.com\/masthead\/lender-says-mh-loan-option-hidden-by-mhi-president-manufactured-home-sales-lost\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lender Says MH Loan Option Hidden by MHI President, Manufactured Home Sales Lost - Masthead L. A. &#039;Tony&#039; Kovach\" \/>\n<meta property=\"og:description\" content=\"&#8220;Politics is really about the story you tell and getting the people on your side.&#8221; &#8212; Julie Pace &#8211;\u00a0Chief White House Correspondent for the Associated Press At an MHI meeting in 2015, Lesli Gooch and a room full of industry professionals were introduced to a proposal about how good storytelling could enhance MH lending regulatory &hellip; Lender Says MH Loan Option Hidden by MHI President, Manufactured Home Sales Lost Read More \u00bb\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.manufacturedhomepronews.com\/masthead\/lender-says-mh-loan-option-hidden-by-mhi-president-manufactured-home-sales-lost\/\" \/>\n<meta property=\"og:site_name\" content=\"Masthead L. 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