Commenting on The Atlantic‘s article about manufactured housing (MH), the CFPB and MH financing, Amy Bliss of the Wisconsin Housing Alliance, compliments the piece for citing facts such as:
> energy efficiency,
> less waste in the building process,
> availability to middle-incomers,
while acknowledging the difficulty in finding financing for chattel loans.
Writing on Industry Voices at MHProNews, she notes the lack of a secondary market with few lenders for MH loans, saying the CFPB “should mandate that any lender allowing conventional mortgages cannot simply deny a manufactured home loan.”
Doug Ryan, with the Corporation for Enterprise Development, a non-profit that supports manufactured housing as an affordable alternative, says in The Atlantic, “The biggest problem (with MH loans) is with how the loans are done. It’s about as enjoyable as buying a used car.”
Bliss says many manufactured home consumers are elderly, the disabled and families with children. The industry should make a talking point out of the disparate impact made on these three protected age groups when lenders refuse to make loans to MH in communities.
Bliss notes that considering manufactured homes in land lease communities as real property is not an answer, but suggests filling communities with new MH will add vigor to the communities. For the full Bill OpEd, click here.
MHProNews will have a more in-depth look at The Atlantic‘s coverage of the CFPB’s MH Finance report, planned for later this week. ##
(Photo credit: Pine Grove Manufactured Homes)
(Submitted by Matthew J. Silver to Daily Business News-MHProNews)