After several months of working its way through the clearance process, FHA Commissioner Stevens opened the Manufactured Housing Finance Summit on June 2nd by announcing the publication of the final Title I Manufactured Home Loan Program Clarification and Guidance (TI-484). This Title I letter provides clarification and technical amendments to certain provisions of the Title I letter TI-481 dated April 14, 2009, which implemented the revisions to the Title I program as enacted by the Housing and Economic Recovery Act of 2008.
Click here to view the letter.
The publication of this letter now paves the way for Ginnie Mae to issue pooling requirements for securitization of Title I loans and expanding approved issuers. This will help bring some liquidity back into the marketplace. We expect this to happen soon and Ginnie Mae officials also confirmed this at the meeting on June 2nd.
MHI members with questions can contact Thayer Long at tlong@mfghome.org.
