In response to an article by the editorial board of The New York Times in the May 20, 2015 edition which asserts that the Preserving Access to Manufactured Housing Act (H. R. 650) would increase predatory lending to consumers of manufactured housing, and would give Clayton Homes 90 percent of the market (among other assertions), Manufactured Housing Institute (MHI) CEO Richard Jennison defends H. R. 650: “Today’s federal rules are hurting homeowners and prospective homeowners by deterring lenders from entering the manufactured home (mobile home) market. This results in fewer lenders and less competition, hurting consumers.”
Noting it neither weakens consumer protections nor favors one company, Jennison says instead it favors American consumers of unsubsidized, affordable housing while continuing to afford protection against predatory lending. For the MHProNews story on how the current regulations harm consumers, click here. #
