Blog # 477; Copyright @ 18 February 2018; community-investor.com
Perspective. ‘Land lease communities, previously manufactured home communities, & ‘mobile home parks’, comprise the real estate component of manufactured housing.’
This blog posting is the sole national advocate, voice, official ombudsman, historian, research report & online communication media for all North American LLCommunities.
To input this blog &/or affiliate with Community Owners (7 Part) Business Alliance, a.k.a. COBA7, use Official MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764
COBA7 Motto: ‘U Support US & WE Serve U!’ Goal of its’ print & online media =
to not only inform & opine, but to transform & improve MHBusiness performance!
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INTRODUCTION: Hey, a minor tweak to blog # 476. MHIndustry shipped 92,905 new HUD-Code homes during year 2007, NOT in 2018, as stated! Sorry ’bout that. If you own a copy of SWAN SONG, be sure to insert that 92,205 into the space left for it in Figure A in chapter # 1 of the ‘History of the Land Lease Community Real Estate Asset Class.
What’s to be found here in blog # 477? A Call for Immediate Action by everyone with ‘skin in the game’ of manufactured housing & land lease communities! And that’s YOU!
Then a view of the soft underbelly of FHFA & GSEs, where $ distribution is concerned. Confident you’re not aware of the deep state political $ carryover that apparently carries more weight than maxing out DTS to get manufactured housing healthy again.
I.
A ONCE IN A CAREER OPPORTUNITY FOR YOU!
Before 26 February, Identify for Review, Specific Troubling HUD Rules & Regulations Relative to Manufactured Housing & Land Lease Communities
That’s right, this is a very short fuse, potentially explosive opportunity, for manufactured housing aficionados and land lease community owners/operators, to directly input HUD concerning rules and regulations that have been hindering new housing fabrication and home placements for the past decade or more.
How to do this? Four immediate courses of action enable you to respond by 26 February:
• Go to www.regulations.gov When asked to identify the focus of your remarks, enter: Docket No. FR-6075-N-01 Regulatory Review of Manufactured Housing Rules. Then, in 5,000 words or less, type your list of troubling HUD rules & regulations relative to manufactured housing & land lease communities!
• Contact the Manufactured Housing Institute (‘MHI’) via (703)558-0400, and ask them allow you to sign onto their electronic communication to HUD on this important matter, or provide you a model letter to immediately emulate and mail!
• Contact the Manufactured Housing Association for Regulatory Reform (‘MHARR’) via (202) 783-4087, & ask them to provide a model letter, identifying salient issues for review & improvement, to emulate and mail to HUD!
• Contact the Community Owners (7 Part) Business Alliance (‘COBA7’) via gfa7156@aol.com, and request a copy of their letter being sent to HUD this week.
If you miss this ‘once in a career opportunity’ you only have yourself to blame!
II.
FOLLOW THE MONEY!
Yes, the Federal Housing Finance Agency (‘FHFA’) approved Government Sponsored Enterprises (‘GSE’) – read Fannie Mae & Freddie Mac – long-awaited but profoundly disappointing Duty to Serve (‘DTS’) pilot programs that will serve a mere 1.8 percent of manufactured housing purchases through to year 2020. Some say this will pencil out to between only $1.5 to 2 million dollars.
HOWEVER
According to a recent (18 February 2018) article in the Washington Examiner, “Fannie said it planned to make a $239 million payment to (affordable housing) trust funds this quarter, and Freddie said it would disburse $114 million.”
HUH?
Yes, you read that right. The two GSEs, combined, are donate $353 million (versus $1.5 – 2 million in manufactured housing mortgages) to affordable housing trust funds, groups that some – if not many – in the manufactured housing industry view as being housing supply competitors.
WHERE IS THE PARITY IN THIS?
Should we, as manufactured housing industry businessmen and women, once and for all, now see how little regard the GSEs really have for our type quality affordable housing, when it comes to their supporting of subsidy and entitlement programs?
WHAT DO YOU THINK?
III.
20th National Registry of ALL Lenders to be Distributed in Early March 2018!
Only the clamor for the annual (19th) ALLEN REPORT, a.k.a. ‘Who’s Who Among Land Lease Community Portfolio Owners/operators Throughout North America!’ exceeds enthusiasm for the annual (20th) National Registry of ALL Lenders!
Both Signature Series Resource Documents (‘SSRDs’) are researched and updated annually by the Community Owners (7 Part) Business Alliance. Both are distributed to Option II level COBA7 affiliates. To affiliate with COBA7, phone the Official MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764.
This time around, the 20th National Registry of ALL Lenders identifies and lists more than $5 billion in acquisition and refinance mortgages, for land lease communities, originated by no fewer than 25 lenders and loan brokers located throughout the U.S! And the names and contact information for more than 50 loan originators are listed for reference by would be borrowers.
And, of course, there’s a directory of independent, third party chattel capital lenders who specialize in mortgages for manufactured housing sited within land lease communities. Also contact information.
Lease-option is fast becoming the new home finance option of choice in many regions of the U.S. Information is included about that option as well.
And finally, as most blog floggers (readers) know, a movement has been afoot, since 17 January 2018, in Louisville, KY, to create a hybrid form of chattel capital tailored to the land lease community environment! A second meeting, of all interested parties, will occur during the lunch hour, 20 March 2018, at the Tunica MHShow in Mississippi. To be ensured an ‘invite’, email genevieve@roane.com Be a key part of land lease community history!
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George Allen, CPM, MHM
Box # 47024, Indianapolis, IN. 46247
(317) 346-7156