But as the expression goes, the devil is in the details. The details with the MHI letter, unpacked in a deep dive report on the relationship of the Iron Triangle, the Moat, MHI and some key ‘big boy’ members sheds new insights on the difference between posturing and sincere efforts.
That report is linked below.
MHARR’s comments letter comes with a media release that was provided to MHProNews on 3.1.2021. That letter will be our featured focus this evening.
For our growing numbers of new readers, as well as a reminder to those returning daily, a few quick evening/nightly market report insights.
- Every business evening, MHProNews provides a bullet list of left-right news headlines from CNN and in a matter of moments, savvy professionals can see at a glance news headlines and views across the political spectrum.
- This is a time saving and insightful way to quickly grab insights from across the left-right divide for those who are hooked on this market-nightly feature.
- Our featured focus follows the quotable quotes, periodic political cartoons, those left-right headlines, and two of our three market summary graphics as reported at the closing bell.
- After the featured focus, are some recent/related report links and the third manufactured housing focused stock equities graphic. There are some additional items that include the free signup for the manufactured housing industry’s x2 weekly emailed news to the most-read trade publication in our profession:
On a day that saw most manufactured home connected equities fall today, let’s press ahead toward the MHARR vs MHI insights on the important topic of manufactured housing finance in their new federal comments focused report.
Quotes That Shed Light – Industry, American, Social, National Issues
Headlines from left-of-center CNN
- A warning for Big Oil
- John Kerry is urging the oil-and-gas industry to embrace the clean energy revolution
- Bitcoin is surging as an inflation hedge, but don’t count out gold either
- China is worried a bubble in global markets could burst
- No, Tom Cruise isn’t on TikTok. It’s a deepfake
- Two of the most powerful economic voices in America disagree on a tax for the uber-rich
- Instacart doubles its valuation for the second time since pandemic began
- Target saw more sales growth in 2020 than the last 11 years combined. Here’s why
- Kayleigh McEnany, Trump’s former press secretary, is joining Fox News
- David Muir’s new role at ABC News leads to drama with George Stephanopoulos and a visit from Bob Iger
- Fox News gets a huge Trump bump during former president’s CPAC speech
- Share your story: What’s your remote work situation like, one year later?
- Readers share how the pandemic will change their spending habits
- Portland, OR, USA – Feb 25, 2021: The Amazon shopping app is seen in the App Store on an iPhone. The new icon features Amazon’s smile logo design, along with a hint of its blue packing tape.
- Amazon quietly changed its app icon after some unfavorable comparisons
- An artificial cactus built by Valmont Industries in the Scottsdale, AZ area. This equipment is 4G and 5G capable.
- Inside the complicated business of disguising 5G equipment
- Here’s how TV execs are incorporating Covid-19 into their shows
- Goya Foods President Robert Unanue speaks at a press conference with Carlos Vecchio, the Venezuelan Ambassador who is recognized by the United States on December 21, 2020 in Doral, Florida. The two held the press conference to discuss details of a recent shipment of humanitarian aid to Venezuela, donated by Goya Foods. (Photo by Joe Raedle/Getty Images)
- Goya CEO under fire for false Trump election claims
- ‘Froot Loops’ on pizza: Culinary abomination or inspiration?
- These 6 Dr. Seuss books won’t be published anymore
Headlines from right-of-center Newsmax
- Texas Becomes Biggest US State to Lift COVID-19 Mask Mandate
- The Biden Presidency
- Senate Votes to Confirm Biden Pick as Commerce Secretary
- Paris Denard to Newsmax TV: WH Shoving Reparations ‘Down Our Throats’ |
- Trump Jr. Pillories Media for Ignoring Biden ‘Radicalism’
- Report: Influx of Child Migrants Straining Facilities
- Dems Bring Back Private Gun Sale Background Check Bill
- Lawmakers Press Plan to Make Puerto Rico a State
- Politico: 4 Major Pelosi Bills Will Likely Die in Senate
- US Sanctions Russia Over Navalny Poisoning
- Newsfront
- 15 Dead After SUV Carrying 27 Crashes With Semitruck
- An SUV believed to be carrying 27 people crashed Tuesday into a semitruck in Southern California, killing 15 people and leaving others injured, hospital officials said…
- The Biden Presidency
- Senate Votes to Confirm Biden Pick as Commerce Secretary
- Paris Denard to Newsmax TV: WH Shoving Reparations ‘Down Our Throats’ |
- Trump Jr. Pillories Media for Ignoring Biden ‘Radicalism’
- Report: Influx of Child Migrants Straining Facilities
- Dems Bring Back Private Gun Sale Background Check Bill
- Lawmakers Press Plan to Make Puerto Rico a State
- Politico: 4 Major Pelosi Bills Will Likely Die in Senate
- US Sanctions Russia Over Navalny Poisoning
- The Biden Presidency
- Senate Votes to Confirm Biden Pick as Commerce Secretary
- Paris Denard to Newsmax TV: WH Shoving Reparations ‘Down Our Throats’
- Trump Jr. Pillories Media for Ignoring Biden ‘Radicalism’
- Report: Influx of Child Migrants Straining Facilities
- Dems Bring Back Private Gun Sale Background Check Bill
- Lawmakers Press Plan to Make Puerto Rico a State
- Politico: 4 Major Pelosi Bills Will Likely Die in Senate
- US Sanctions Russia Over Navalny Poisoning
- The Biden Presidency
- Senate Votes to Confirm Biden Pick as Commerce Secretary
- Paris Denard to Newsmax TV: WH Shoving Reparations ‘Down Our Throats’ |
- Trump Jr. Pillories Media for Ignoring Biden ‘Radicalism’
- Report: Influx of Child Migrants Straining Facilities
- Dems Bring Back Private Gun Sale Background Check Bill
- Lawmakers Press Plan to Make Puerto Rico a State
- Politico: 4 Major Pelosi Bills Will Likely Die in Senate
- US Sanctions Russia Over Navalny Poisoning
- The Biden Presidency
- Senate Votes to Confirm Biden Pick as Commerce Secretary
- Paris Denard to Newsmax TV: WH Shoving Reparations ‘Down Our Throats’ |
- Trump Jr. Pillories Media for Ignoring Biden ‘Radicalism’
- Report: Influx of Child Migrants Straining Facilities
- Dems Bring Back Private Gun Sale Background Check Bill
- Lawmakers Press Plan to Make Puerto Rico a State
- Politico: 4 Major Pelosi Bills Will Likely Die in Senate
- US Sanctions Russia Over Navalny Poisoning
- The Biden Presidency
- Senate Votes to Confirm Biden Pick as Commerce Secretary
- Paris Denard to Newsmax TV: WH Shoving Reparations ‘Down Our Throats’ |
- Trump Jr. Pillories Media for Ignoring Biden ‘Radicalism’
- Report: Influx of Child Migrants Straining Facilities
- Dems Bring Back Private Gun Sale Background Check Bill
- Lawmakers Press Plan to Make Puerto Rico a State
- Politico: 4 Major Pelosi Bills Will Likely Die in Senate
- US Sanctions Russia Over Navalny Poisoning
- GOP Lawmakers Push for Election Reform, Tighter Vote-by-Mail Requirements
- States acted quickly to expand ways for voters to cast ballots amid
- Kremlin: Musk’s Clubhouse Invite to Putin a ‘Misunderstanding’
- The Kremlin thinks Elon Musk’s invitation to Vladimir Putin to chat
- Volvo to Go Electric-Only and Shift Sales Online From 2030
- Jack Ma No Longer China’s Richest Man After Beijing Scrutiny
- Alibaba and Ant Group founder Jack Ma has lost the title of China’s
- Sprinter Would Rather Miss Olympics Than Get Vaccine
- Olympic champion sprinter Yohan Blake of Jamaica said he would rather
- Supreme Court Conservatives Suggest They’ll Uphold Arizona Voting Law
- Matt Schlapp: Trump ‘Seriously’ Considering 2024, Hasn’t Decided
- Former President Donald Trump is “seriously” looking at running
- Lawmakers Press Plan to Make Puerto Rico a State
- Martin Heinrich, D-N.M., and Rep. Darren Soto, D-Fla.,
- Trump Jr. Hits Media for Ignoring Biden ‘Radicalism’
- Donald Trump Jr. on Tuesday accused the media of ignoring
- FBI Chief Wray Accuses Capitol Hill Attackers of Domestic Terrorism
- FBI Director Christopher Wray on accused rioters
- 6 Dr. Seuss Books Canceled Over Racist Images
- Six Dr. Seuss books – including “And to Think That I Saw It on Mulberry Street” and “If I Ran the Zoo”…will stop being published
- NRA Encouraged to Move to Oklahoma
- Kayleigh McEnany Joins Fox News After All
- Barrasso: Elizabeth Warren’s Wealth Tax Campaign Continues
- Elizabeth Warren’s call for an “ultra-millionaire” tax
- NY AG Warns Crypto Industry: ‘Play by the Rules or We Will Shut You Down’
- New York Attorney General Letitia James on Monday warned
- Trump, First Lady Were Vaccinated at WH in January
- After delivering vaccines faster than his critics expected
- More Than Two-Thirds of Conservative Academics Report Political Bias
- More than two-thirds of conservative academics in higher education
- Whitmer’s Cuomo Problem: Nursing Homes
- Eight state senators in Michigan are pushing for an investigation
- California Deal to Pay $6.6B to Get Kids Back in Class
- California’s public schools could get $6.6 billion from the state
- Ron DeSantis Targets Foreign Influence, CCP in Florida Bill
- In a move following the lead of former President Donald Trump,
- Finance
- Merck to Help Produce Rival J&J’s Vaccine
- Merck & Co. Inc will help make rival Johnson & Johnson’s single-shot COVID-19 vaccine in a partnership set to be announced on Tuesday by U.S. President Joe Biden, a White House official said.
- Whitley: Costly, Troubled F-35 Program Needs to Have Its Wings Clipped
- Fintech Firms Poaching Wall Street Professionals
- Target Keeps Sales Momentum Going During Pandemic
- Americans Accused of Helping Ghosn Flee Arrive in Japan
- Health
- Joggers Should Wear Face Masks When Running in Public
- Joggers huffing and puffing as they run past others should wear face coverings, say scientists. According to the Independent, experts say it’s OK to ditch the mask when running in wide, open spaces, but in crowded areas…
- Pot Makes Migraines Worse
- Sports Position Doesn’t Affect CTE Risk
- Study: Smartphone Use by Young Drivers One of Many Risky Behaviors
- 6 Ways to Tame Indoor Allergies
Market Indicator Closing Summaries – Yahoo Finance Closing Tickers on MHProNews…
Featured Focus –
Where Business, Politics and Investing Can Meet
To dot the i prior to the MHARR news release to MHProNews, it would be this. The case has been made that MHI not only postures, they also palter. MHI violates some of the basic principles of advocacy and marketing alike. Is it any wonder that the industry has had its second year-over-year decrease in new home shipments? All while conventional housing roars, and the need for affordable housing only grows?
By contrast, MHARR hammers away at facts. They pointedly point to the years of foot dragging by the FHFA as well as the GSEs. They sometimes use sarcasm, but do it with evidence. Here is their report on MHARR to FHFA on Fannie Mae and Freddie Mac’s Enterprise Housing Goals (EHG).
FOR IMMEDIATE RELEASE Contact: MHARR
(202) 783-4087
MHARR CALLS FOR MAINSTREAM MANUFACTURED HOME
LOANS TO BE INCLUDED IN ENTERPRISE HOUSING GOALS
Washington, D.C., March 1, 2021 – The Manufactured Housing Association for Regulatory Reform (MHARR) has filed comments (copy attached) with the Federal Housing Finance Agency (FHFA) calling for the inclusion of mainstream manufactured home personal property or “chattel” loans — once again – within the Agency’s Enterprise Housing Goals (EHG) for mortgage giants Fannie Mae and Freddie Mac.
In its comments, filed on February 26, 2021 in response to an FHFA Advance Notice of Proposed Rulemaking (ANPR) concerning the next iteration of the Enterprise Housing Goals, MHARR noted that prior to 2010, mainstream manufactured home “chattel” loans, which comprise nearly 80% of the manufactured home consumer lending market and provide consumers with access to the industry’s most affordable homes, were, in fact, eligible for EHG credit. That year, however, FHFA amended the EHG regulatory definition of “mortgage” to exclude personal property manufactured home loans and instead shifted the entire issue of Enterprise support for such loans to its Duty to Serve Underserved Markets (DTS) program, noting that FHFA “could revise the definition of ‘mortgage’” once again, in a “future rulemaking” to include chattel loans and “ensure conformance with a final” DTS regulation, based on information obtained through DTS on the performance of such loans. Of course, though, as MHARR emphasizes in its comments, this has turned into a dead-end for such support, as neither Fannie Mae nor Freddie Mac have purchased a single manufactured home personal property loan, and any initial plans for “pilot program” chattel purchases by the Enterprises under DTS have been eliminated in subsequent plan “modifications” approved by FHFA.
By thus tying manufactured home chattel loan participation in EHG to thus far non-existent support for such loans under DTS, FHFA has created a “perfect storm” of malign neglect for the vast majority of lower and moderate-income American families seeking to realize the American Dream of homeownership via inherently affordable manufactured homes – directly contrary to Congress’ objectives for both EHG and DTS.
Put differently, with no manufactured home chattel loan purchases under DTS, no “information” has been developed by Fannie and Freddie regarding the performance of manufactured home chattel loans under DTS. This failure has – first and foremost — been bootstrapped by the Enterprises for some 13 years, as a self-fulfilling prophesy, to continue avoiding manufactured home chattel loan purchases indefinitely. Simultaneously, though, because of FHFA’s express link between EHG and DTS with regard to such loans, the absence of performance information through DTS has also been used by FHFA as an ongoing excuse to exclude manufactured home chattel loans from EHG. Thus, FHFA in 2018, refused to re-incorporate chattel loans in EHG, stating, “[B]ecause neither Enterprise has purchased chattel loans on manufactured housing in recent years, there is limited data available on the market for such loans or their performance. As a result, FHFA would be unable to set benchmark levels for this market segment or assess the impact of any Enterprise purchases on their housing goals performance.” Consequently, under the EHG-DTS linkage established by FHFA in 2010, the Enterprises’ continuing failure to serve the manufactured home chattel market under DTS is offered as justification for FHFA’s failure to restore EHG credit for such loans – with American consumers of affordable housing paying the ultimate price for this abject and inexcusable policy failure.
MHARR’s comments, consequently, call on FHFA to end this baseless charade, and: (1) require market-significant purchases of mainstream, affordable manufactured home personal property loans under DTS; and (2) simultaneously restore EHG credit for such purchases based on the known and well-documented affordability of both mainstream manufactured homes and chattel financing. ##
The Manufactured Housing Association for Regulatory Reform is a Washington, D.C.-based national trade association representing the views and interests of independent producers of federally regulated manufactured housing.
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A PDF of the Word version of MHARR’s comment letter to FHFA is linked here.
MHProNews may circle back to both of these comments for more revelations in the near term. Stay tuned.
Related, Recent, and ‘Read-Hot’ Reports
Manufactured Housing Industry Investments Connected Closing Equities Tickers
Some of these firms invest in manufactured housing, or are otherwise connected, but may do other forms of investing or business activities too.
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- NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services, a manufactured home industry lender
- NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).
- NOTE: Deer Valley was largely taken private, say company insiders in a message to MHProNews on 12.15.2020, but there are still some outstanding shares of the stock from the days when it was a publicly traded firm. Thus, there is still periodic activity on DVLY.
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Winter 2021…
Berkshire Hathaway is the parent company to Clayton Homes, 21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers.
· LCI Industries, Patrick, UFPI, and LP each are suppliers to the manufactured housing industry, among others.
· AMG, CG, and TAVFX have investments in manufactured housing related businesses. For insights from third-parties and clients about our publisher, click here.
Enjoy these ‘blast from the past’ comments.
MHProNews. MHProNews – previously a.k.a. MHMSM.com – has celebrated our 11th year of publishing, and is starting our 12the year of serving the industry as the runaway most-read trade media.
Sample Kudos over the years…
It is now 11+ years and counting…and Williams, who praised our accuracy and other services to manufactured housing for years, then said this.
Learn more about our evolutionary journey as the industry’s leading trade media, at the report linked below.
· For expert manufactured housing business development or other professional services, click here.
· To sign up in seconds for our industry leading emailed headline news updates, click here.
Disclosure. MHProNews holds no positions in the stocks in this report.
That’s a wrap on this installment of “News Through the Lens of Manufactured Homes and Factory-Built Housing” © where “We Provide, You Decide.” © (Affordable housing, manufactured homes, stock, investing, data, metrics, reports, fact-checks, analysis, and commentary. Third-party images or content are provided under fair use guidelines for media.) (See Related Reports, further below. Text/image boxes often are hot-linked to other reports that can be access by clicking on them.)
By L.A. “Tony” Kovach – for MHLivingNews.com.
Tony earned a journalism scholarship and earned numerous awards in history and in manufactured housing. For example, he earned the prestigious Lottinville Award in history from the University of Oklahoma, where he studied history and business management. He’s a managing member and co-founder of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com. This article reflects the LLC’s and/or the writer’s position, and may or may not reflect the views of sponsors or supporters.
