MHI & MHARR Begin Joint Project

The Manufactured Housing Institute (MHI)  informs MHProNews at their  Board Meeting Feb. 25, president and CEO Richard Jennison presented the three issues which MHI is newly collaborating on with the Manufactured Housing Association for Regulatory Reform (MHARR): 1) have a non-career head of the MH program at HUD; 2) have two non-lobbyist representatives on the Manufactured Housing Consensus Committee (MHCC); 3) and reform GSEs so there are more financing options for MH. And from their newsletter: “The Federated States Division recommended that MHI consider protection of retail sales centers from the CFPB definition of a loan originator through commercial speech laws. It was noted that the Finance Lawyers Committee is exploring options at this time. The Dodd-Frank/CFPB Task Force recommended that MHI’s financial services policy priorities be focused on reforming three key areas of CFPB regulation that would, both individually and collectively, significantly limit the availability of credit in the manufactured housing market. They are: 1) HOEPA High Cost Mortgage Triggers; 2) HPML Appraisal Requirements; and 3) Loan Originator Compensation Exclusion for Manufactured Home Retailers.”

(Photo credit: Chris Butler/idahostatesman–Delores Loredo working on MH)

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