In his address to a packed room at the Louisville Manufactured Housing Show Jan. 12, Jason Boehlert, Vice President for Government Affairs at MHI, said manufactured housing is a good fit considering the current economic conditions, because “it’s nice to have the home of your dreams, but it’s better to have a home you can afford.” Noting that 21 percent of all new housing starts for the past two decades has been manufactured housing, Boehlert said Congress needs to realize it is affordable housing, and focus its attention on correcting HUD’s misapplication of Congress’ intent with regard to regulation. Regarding financing, Boehlert said there is a limited secondary market for manufactured housing loans, so community banks are one place to seek additional financing opportunities. He said the Consumer Financial Protection Bureau (CFPB) now has a director, Richard Cordray. If that ‘recess’ appointment by President Obama holds up, Cordray has made investigating non-bank lenders a top priority. He cautioned lenders that “there are 3,000 new regulators out there looking for something to regulate.”
