It isn’t just manufactured housing (MH), but to those of us who are doing day-to-day work in this business, sometimes it can feel like regulations by federal, state and local governments are aligned against us. Financing, zoning, over-regulation or a variety of kinds could be mentioned. Let’s look at some recent news and consider what it means to MH.
Hefty Fines for LO Comp Rule Violations
For those who think that its only major lenders and banks that the Consumer Financial Protection Bureau (CFPB) will be going after, think 
twice after reading this news report.
Hefty fines prove risks of Violating the CFPB’s LO Comp Rules
What the CFPB has proven in roughly the last 2 years is that they will go after operations of most any size that comes under their scrutiny.
Are you doing captive finance? Are you referring customers to lenders without an LO license?
We will have an exclusive MH lender’s take on related issues in the days ahead.
Roadblocks to Small Businesses?
Most of the manufactured housing industry is made up of small businesses. So the following report should be of keen interest to virtually everyone connected to the industry.
You Shouldn’t have to be a lawyer to run a business in America today
The high cost of doing business in America keeps going higher. Are we going to allow a combination of federal, state or local officials to choke off free enterprise?
Remember, since some 60% of all private sector jobs come from small businesses, so even big business needs small business for a healthy economy.
You can’t make this stuff up…
Since Bill Clinton famously said the era of big government is over, we’ve had back to back presidents who have proven that statement wrong. First, President Bush and then big-government-on-steroids President Obama have given us a close look at what big government in action looks like.
Industry veterans and long time readers here will know that the FHFA has so far prevented the GSE’s from fulfilling their Duty to Serve 
manufactured housing and underserved markets under HERA 2008. We are still blocked from accessing the secondary markets for finance. So private lenders who keep loans into portfolios explain that it is simple math that causes the rates on “home only” (Personal property or chattel) loans where they currently are.
The CFPB seems to think that makes MH lenders evil! Yet go around the corner in DC to another federal building, and the fact that higher premiums for the FHA loan program to offset risks and losses is somehow okay?
FHA loan performance and fund improving, report replete with irony for Manufactured Housing Lenders
Help me, please! Let me see if I understand this, would you? Our MH lenders can’t have rates too high, because we’ll be labeled, tarred and feathered. But the same principle applied to federal FHA loans is good for the people?
Level the playing field, says Amy Bliss and DJ Pendleton. Here on the Masthead, we agree.
There is a path to turning the tide back to saner, less intrusive and more responsive government. We believe MH can play a serious role in that process. More on that in the days ahead. ##
(Image credits: FlickrCreativeCommons)
