Warren is known as a key supporter – or Mama – of the agency that became the Consumer Financial Protection Bureau (CFPB).
As most MH pros know, the CFPB has harmed access to lending on manufactured homes. Some sizable firms, such as Yes! Communities, exited their own ‘captive lending’ program over concerns surrounding the ability to comply. They and giant U.S. Bank’s recent exit from direct lending on MH, are but two examples of the harm done by CFPB regs to MH consumers and sellers.
But Warren and die-hard CFPB champions remain undaunted.
Massachusetts Democratic Party chairman Philip Johnston said Warren is “absolute fearlessness” in the face of opponents. “CEOs of banks usually intimidate members of the Senate because they speak a different language,” Johnston said. “Elizabeth speaks that language … and she calls them out.“
In spite of denials, a possible signal that Warren is preparing for a possible presidential run is her first overseas trip as a U.S. Senator. She made a trip to Israel, the West Bank and Jordan, meeting with Palestinian President Mahmoud Abbas and Israeli Prime Minister Benjamin Netanyahu.
While some think Hillary Clinton is unstoppable, the same was thought in 2008 when she was upset by Barack Obama for the Democratic nomination for president. Manufactured housing professionals are wise to keep an eye on this rising star in the Democratic Party as the 2016 campaign for president is unofficially underway. ##
(Photo credit: AP)
