Financing is the life blood of any big ticket item industry. Ours is no exception. We hear about the fiscal cliff that faces our nation early next year. But how much are we hearing about the "fiscal cliff" – the impact on financing – that could also hit our industry by late January 2013?
When Dodd-Frank's regulations kick in at the CFPB, a percentage of the loans being made by the main stream of industry third party lenders will vaporize, as this article by Ronnie Richards documented for our readers.
There is a mix of news in play out of DC on the talks with the Consumer Financial Protection Bureau (CFPB). Some of it looks good, but it was contradicted in part by other proposals in play. Thankfully, the Texas Manufactured Housing Association (TxMHA) and MHI are working together on that issue. We will keep you posted.
But what is possible – or even likely – is that there will be changes in what manufactured home lenders offer to the customers of retailers and land lease community owners.
So we will once again have as part of our business building seminars at the Louisville Show in January – and for the first time at the Tunica Show in March of 2013 – a line up of the major industry lenders. These lenders will be part of a panel presentation, so that attendees can hear first hand what each lender can offer retail home buying customers.
In 2012, the manufactured housing finance panel had a standing room only crowd in Louisville, as the photos on this linked page demonstrate. It was the best place in the country to hear all that MH lenders can do! With new home shipments rising nationally, it means loans are being made. There is capacity to do more. All of those who go to the Louisville or Tunica Show will have the chance to listen to each national lender give you a quick, hard hitting update on their latest financing plans, followed by questions from YOU and your peers, with the lenders there to answer!
Have you or an industry colleague been chasing – and refurbing – aging used home product too long?
Come to these shows to see all the amazing new home values available today. See why many retailers and communities are turning to new homes. You can see major and independent manufacturers, side by side, for easy comparison. These events will be like no place else in America.
Besides the best line up of new manufactured homes, you can see a wide array of products and services at each venue. We will have strong business building seminars with information useful for retailers, communities, investors, brokers and developers.
MHI's new chairman will also be at these events. “Mom and pops,” successful independents, corporate execs, movers and shakers all come to these twin events. They find unparalleled access to decision makers, while networking and deal making all happen. You can too.
Louisville was so popular in 2012, that the size of the show will grow 50%, making it the largest all indoor manufactured housing show event in the nation. Tunica will continue as the largest indoor exhibitor/outdoor homes show in the country. Both events will be ONLY for industry professionals.
Looming on the horizon are the federal and industry "fiscal cliff." You can turn challenge into opportunity. Get a jump on competitors. For those who go to these events, you will know what and how you can successfully navigate what is coming up next for retail financing for our Industry.
Mark your calendars now. Members of our team and I will be at both. You should too, so you can learn the latest and greatest programs and products available. You may also be surprised at some of the new home products available from independent and major manufacturers that can meet or exceed your needs and those of your customers.
Be prepare for what's coming in 2013. Knowledge is power when it is accessed and used. Going to these events will be time well spent. ##
PS: Check our many Exclusive and Red Hot Featured Articles for September and see the
other new stories and 'Purely Political' cartoons at MHLivingNews.com too.
L. A. "Tony" Kovach
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