MHI Holds Second Meeting with FHA Commissioner Stevens

On December 15, MHI staff had a second meeting with FHA Commissioner David Stevens since he took office in July 2009. In addition to Commissioner Stevens, staff from Ginnie Mae, the FHA Title I program office, the HUD Office for Intergovernmental Affairs, and the Manufactured Housing Program Office were in attendance. The purpose of the meeting was to brief the Commissioner and staff on the continued challenges that the industry is facing, particularly in the area of finance. MHI was similarly briefed on several important issues. MHI learned that the final changes to the Title I Mortgagee Letter were imminent. However, in addition to the Mortgagee Letter, FHA will also need to issue a rulemaking on the Title I program. While it is still unclear at this point if Ginnie Mae is going to require both the Mortgagee Letter and the regulation to lift the moratorium, at the meeting, MHI urged Ginnie Mae to lift the moratorium on Title I issuers as soon as the Mortgagee Letter is published. MHI will work closely with FHA and Ginnie Mae staff to ensure the program is expedited as quickly as possible.

MHI also raised the issue of the repeal to the FHA Guide to Permanent Guide Foundations now that the HUD Installation Standards are widely used in most states. The conflict between the two has created confusion and the FHA policy needs to be revised to permit the Model Installation Standards to be effective for all FHA-insured mortgages in HUD approved states. While MHI was originally disappointed several months ago to learn that a rulemaking was required, FHA is going to be reexamining the process and working closely to resolve this issue soon.

MHI also once again raised the issue of a non-career administrator for manufactured housing.

FHA recognizes the importance of manufactured housing in America, and is eager and committed to work with MHI and the industry on developing real solutions to the needs the industry is facing. MHI looks forward to working with them to advance the interests of the industry over the coming weeks and months.

Source: MHI Week in Review

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