Levere tells MHProNews that, “For 38 years, CFED has been a leader in the effort to create economic opportunity for all. Over the course of nearly four decades, our work has transformed from a focus on low-income entrepreneurs into a broader effort to fundamentally change the economy to work better for those with limited income—especially communities of color—in all facets of their lives.”
She then notes their new milestone by saying, “I’m proud to announce that as of this morning, CFED has become Prosperity Now.”
“Indeed, there is much to lament,” said Lawton.
Sources – including those in their organization – suggest to MHProNews that CFED turned Prosperity Now has relied on many federal agencies for funding, including the CFPB.
So, the change from the Obama Administration that supported numerous progressive groups and causes to that of President Donald J. Trump, is for those groups depending on federal dollars, “a seismic shift.”
Doug Ryan at CFED, as MHLivingNews and MHProNews readers recall, was working with the mainstream media – such as the Seattle Times and others – to stop MHI’s Preserving Access to Manufactured Housing Act 2 years ago.
At the same time, CFED genuinely promotes manufactured housing as a positive option, notably for those who need to get onto the housing ladder to begin wealth building.
Sources have told MHProNews that CFED was willing to work with MHI. The quid pro quo? CFED would have been willing to go to the CFPB with MHI on the MLO rule for a negotiated agreement, if MHI dropped the points and fees threshold changes they were seeking. For whatever reasons, that opportunity for a quick success was missed by MHI along with others, as the Daily Business News previously reported here and here.
As have many others, MHProNews and MHLivingNews editorially supported prior versions of the Preserving Access bill for years. One of dozens of examples, is linked here. However, a growing number of industry professionals have questioned if MHI’s multi-million dollar strategies – which have yielded no success to date, and failed to capitalize on opportunities as is noted in reports linked above – now makes sense as the Trump Administration wants to wind down or radically change the CFPB, to make it more effective for consumers and businesses alike.
What Direction Will Prosperity Now Take?
Manufactured home industry professionals that realize that voices in Washington, D.C. perceived as being pro-consumer carry significant weight, wonder what would it take to be able to work effectively with CFED turned Prosperity Now? Could they or other ‘consumer groups’ become allies instead of opponents?
An equally valid question is, will the shift to the Prosperity Now name signal other changes for the now defunct CFED brand?
Prosperity Now’s own team have signaled some possible answers.
Lawton lamented the Trump Administration’s moves as “dark spots,” but said there are “reasons to stay hopeful. The prior confirms that there is much work to be done, while the latter reminds us why it is that we all continue to do the important work of building financial stability, wealth and prosperity for everyone in this country.”
Prosperity Now President Levere was more direct.
“As thrilled as we are about the exciting new changes that Prosperity Now will bring, I want to underscore that much will remain unchanged.”
With tens of billions of dollars of potential annual growth at stake for the manufactured housing industry, the Daily Business News will continue to track such developments, and report as events warrant. “We Provide, You Decide.” © ## (News, analysis.)
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