Former North Carolina Democrat Melvin Watt was sworn in Jan. 6, 2013 as the new head of the Federal Housing Finance Agency (FHFA), replacing the acting head since 2009, Edward DeMarco. The Manufactured Housing Association for Regulatory Reform (MHARR) says Watt was instrumental in the passage of the Manufactured Housing Improvement Act of 2000 and vigorously supported enactment of duty to serve (DTS). Previous leadership of the FHFA had proposed a DTS rule that excluded manufactured home chattel loans, as MHProNews has learned. MHARR hopefully anticipates the change in leadership will result in a corresponding change in the direction of the agency.
You can find MHARR’s full report linked here.##
(Photo credit: Jacquelyn Martin/Associated Press–Melivn Watt swearing-in as new FHFA director)