The hot new report linked below on MHLivingNews focuses on what looks like a conflict of interest. Doug Ryan at CFED has admitted that their organization gets money from the federal government, including from the CFPB. They in turn lobby the CFPB, Congress and the media on behalf of “consumers,” including claiming that the largest MH lenders are “predatory” and that manufactured housing producers are greedy. Ryan denies that CFED receiving dollars from the federal government in any way influences their advocacy.
Excuse me?
Ryan also refuses to disclose exactly how much of the millions-of-dollars a year that fund their organization flows from which federal agencies. If there is nothing to hide – why are they hiding it? – after first agreeing to provide the data requested?
The complete report, including the definition of conflict of interest, is linked here.
No Longer Unintended…This is Deliberate
Ryan can no longer claim ignorance of the facts or the impact of current CFPB policies regarding the realities of manufactured housing lending, or how the policies CFPB has followed impacts MH buyers and sellers. Ryan now knows that the Preserving Access to Manufactured Housing Act (S 682/HR 650) is needed to lessen the negative impact on MH lending. Ryan can’t claim ignorance, nor can he now say their intentions are pure, because the outcome is that consumers and businesses alike are being harmed, until Dodd-Frank is reformed, or the CFPB relents and changes course.
This conflict of interest topic should be brought to the attention of every opposing and supporting Senator and congressional representative’s key staff as part of the ongoing efforts to pass the Preserving Access to Manufactured Housing Act. Your tax dollars are being used to fund the people – CFED – who in turn are advocating against the interests of manufactured home owners, prospective home owners and the industry itself.
Millions of MH residents are currently being harmed. MH owners may not seek to sell their home for 10 years. That explains why so many MH owners may not yet realize they’ve been harmed by the CFPB’s current regulations and groups like the branch of CFED lead by Doug Ryan.
How can Ryan call himself a consumer advocates, when there is clear evidence of the harm being caused by the CFPB policies CFED advocates and promotes?
Can you spell, Conflict of Interest?
We hereby call on Doug Ryan and CFED to change course and do what is right on this critical subject. CFED is correct in saying that manufactured housing is a critical part of affordable housing in America. But they have been dead wrong on the lending side of their policies. Perhaps we now know why.
Don’t be surprised if more insights and information are revealed on this conflict of interest issue. Stay tuned, we’ll keep you informed.
Now, it is YOUR turn. You contact your Senators and keep your congressional representative informed on this too. Please provide the link above, which in turn links to key evidence of the importance of this bill.
The possibility of Senate passage is real. So this may all come down to a vote to override a threated presidential veto. That means that we as industry professionals must be mobilized and ready with the facts that dispel the clever myths being peddled by the opposition. We must be ready in both the House and Senate and on both sides of the political aisle.
Those good MH pros – we in MH – we must be the true consumer advocates. What is good for them, is good for us, and vice versa. Together, we advance. ##
