Sobering Federal Report on Manufactured Housing Lending – Retailers, Communities, Producers, and Finance Companies – Take Note


The rebranded Bureau of Consumer Financial Protection – formerly the CFPB, now the BCFP – has produced a January 2019 report that contains new data regarding manufactured housing lending.

There are over 200 pages. We’ll simplify that for busy readers.

MHProNews will hereby provide the entire document here as a download, while give readers like yourself the most relevant pull-quotes for manufactured housing.

After the quoted sections and tables, the Daily Business News on MHProNews will provide a brief and relevant analysis for manufactured home industry professionals, investors, affordable housing advocates, plus public elected or appointed officials.  The graphics are from the name of the report, that included the following quoted items.





7.2.1 Data and methods


This analysis uses the non-public HMDA data described in Chapter 1.350 In the context of this chapter, any reference to “lender(s)” or “creditor(s)” only refers to HMDA reporting lenders. Estimates of small lenders in this analysis are not the complete universe of mortgage originators. The Bureau estimates that there are over 4,000 depository institutions which originate mortgages but are not HMDA reporters. Most, if not all, of HMDA non-reporters would qualify as small creditors due to their small size…

…2016. Fewer lenders, ‘consolidation.’

Table 38 reports mortgage originations by small and non-small creditors in rural counties.366 Among small creditors, the share of total originations occurring in rural areas is much larger than for non-small creditors. This appears to be consistent with the higher likelihood that small creditors operate only or predominantly in rural or underserved areas compared to non-small creditors. The 2016a columns suggests that without the 2016 threshold amendments, the rural share of small creditor originations would have stayed the same instead of decreasing to 21…


Foonote 366) The Bureau publishes a yearly list of rural and underserved counties that are exempt from certain regulatory r equ irements of the Truth in Lending A ct. Bureau of Con sumer Fin. Prot., Rural and Underserved Counties List, available at /policy-compliance/guidance/implementation-guidance/rural-andu n derserved-counties-list/ (last v isited Dec. 31, 2018) (for the current and previous y ear’s lists).



…percent in 2016 with the amendments. The 2016 amendments did however increase the share of small creditors operating in rural areas due to being more inclusive of larger lenders. The amendments in 20

Table 39 reports manufactured housing mortgage originations by small and non-small creditors. Manufactured housing loans make up a larger share of small lenders’ originations compared to non-small lenders. Similar to rural loan originations, these patterns are consistent with small creditors being more likely to provide access to mortgage credit for manufactured housing compared to larger creditors although the share or manufactured originations that make up a small creditor’s lending has been declining since 2012.



What Does This Reveal for MHPros, Policy Wonks, and Advocates?

Lenders in the manufactured housing space has declined during the period reported.

Put differently, manufactured lending has contracted, just as the number of retailers have shrunk.  Here is the key line.

“…small creditor’s lending has been declining since 2012.”

This has occurred in the aftermath of Warren Buffett led Berkshire Hathaway’s acquisition of Clayton Homes, other producers, retailers, and associated lenders, notably 21st Mortgage Corp and Vanderbilt Mortgage and Finance (VMF).

While making noise for several years about making the Duty to Serve by the Government Sponsored Enterprises (GSE) a reality, what the BCFP data reflects is that the opposite is taking place.

Manufactured housing professionals, investors, and advocates? This is another wake up call.  For more details, see the related reports, linked below the byline and notices.  That’s this afternoon’s Manufactured Housing “Industry News, Tips, and Views Pros Can Use,” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)


To report a news tip, click the image above or send an email to – To help us spot your message in our volume of email, please put the words NEWS TIP in the subject line.

NOTICE: You can get our ‘read-hot’ industry-leading emailed headline news updates, at this link here. You can join the scores who follow us on Twitter at this link. Connect on LinkedIn here.

NOTICE 2: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two.

(Related Reports are further below. Third-party images and content are provided under fair use guidelines.)

1) To sign up in seconds for our MH Industry leading emailed news updates, click here.

To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

2) To pro-vide a News Tips and/or Commentary, click the link to the left. Please note if comments are on-or-off the record, thank you.

3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and

Related Reports:

You can click on the image/text boxes to learn more about that topic.

Bridging Gap$, Affordable Housing Solution Yields Higher Pay, More Wealth, But Corrupt, Rigged Billionaire’s Moat is Barrier –

America woke up today to division. But perhaps 75 percent (+/-) of the nation’s people could come together on a plan that demonstrably could do the following. Increase the U.S. Gross Domestic Product (GDP) by some $2 Trillion Annually, without new federal spending.

Duty To Serve, “Complete Waste of Time” per Tim Williams, CEO/21st Mortgage; POTUS Trump, Warren Buffett Insight$

Former Manufactured Housing Institute President, Manufactured Home Owners, Urban Institute, and You –

” During my time at MHI, I was often asked the same question, “What must happen for business to return – for manufactured housing to begin growing again? ” My stock answer would usually start with ‘financing’ and end with a general comment about the need to bring ‘value’ to our customers.”

New NAMHCO Association Challenges Manufactured Housing Institute on DTS, Financing, and More

Manufactured Home Production Decline Accelerates in November 2018

Warren Buffett’s Berkshire Hathaway, Clayton Homes, 21st Mortgage Corp and their “Strategic Moat,” Plus Manufactured Housing Equities Updates

2019 Trade Shows, Next Battleground of the Manufactured Housing Revolution?

mas kovach mhpronews shopping with soheyla .jp

Get our ‘read-hot’ industry-leading 

get our ‘read-hot’ industry-leading emailed headline news updates

Scroll to Top