SAFE Act in Texas update available

TMHA Logo Texas Manufactured Housing Association logoTMHA reports to that the Texas Manufactured Housing Association (TMHA) published a 9 page overview of the SAFE Act and how it will play out in their state. TMHA’s Executive Director DJ Pendelton urges association members to get and stay up to speed and engaged on this key industry topic. Some of the highlights of the 9+ page report include: Texas won’t see any changes to the state’s S.A.F.E. Act until the Texas Legislature convenes for their next session in January 2013 and until then follow the Texas version of the S.A.F.E. Act. The de minimus exception TMHA helped pass in the 2011 Session still applies: you can sell five (5) or less owner-financed homes in a 12-month period WITHOUT a MLO license. The de minimus exception • DOES NOT apply to state licenses (Retailer, RBI, etc.) – who must be licensed with TDHCA to sell more than one (1) home in a 12-month period. TMHA will not know anything about the federal, regulatory agency’s position on the Texas law until at least 2013. Members can contact TMHA for more details. Non-TMHA members can contact their office to join and get the information. # #

(Editor’s Note: A single SAFE Act fine could pay for many years (in some cases, up to 50+ years) of membership at a state association.  Manufactured Housing Associations are an incredible value and resource for business owners and professionals.  In the current regulatory environment, now more than ever, membership in state associations is a must for Industry businesses.  TMHA and other associations contact information are found on our association’s page linked here).

(Graphic credit: TMHA)

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