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IDAHO HOUSING ALLIANCE UPDATE
October 26, 2012

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March 1, 2012

 

As issues come up we will be sending you information on issues  that will affect you.  If you have an article or information you think might be useful to IHA members please send them to the IHA office at tottens@amsidaho.com and we will forward in our weekly updates.

The information contained in this message is for your information and some items may not be of interest to you.  Please give us your input on how we can improve.  This is a membership service for IHA members. 

IHA
947-8094

In this Issue:

  • IHA Annual Meeting Summary/Elections
  • Legislative Update
  • Installer and Inspector Training
  • Manufactured Housing Board to Meet
  • MHI Weekly Report

IHA ANNUAL MEETING
The Idaho Housing Alliance Annual Meeting was held on October 12, 2013. 

President Karyn Felix gave a brief update of some accomplishments the organization has seen in the past year:

  • We have seen our coffers grow and expenses go down
  • Our website is up and running
  • Our accomplishments concerning an ITD exemption to allow two park models on a single chassis
  • Removing restrictions for manufactured homes on state land leases
  • Lien laws in the Landlord/Tenant Act

Anthony Polidori was present from the Department of Finance to talk about the upcoming legislative changes to the Residential Mortgages Practices Act and the SAFE Act.  He discussed the following:

  • SAFE looks at any act involving an exchange of legal documents such as a deed of trust which includes seller financing
  • Financial Consumer Protection Bureau – This very large agency has great flexibility in dealing with any financial services except real estate or auto dealers.    They enforce the SAFE Act and interprets that the rules apply to any dwelling, including manufactured homes and RV’s if they are being used as primary dwelling.
  • The state has to look at the standard level that will require regulation and they are seeking input on what kind of actions IHA members conduct.
  • They want to develop a rule to cover what we do and define what is a safe harbor (things to do to stay outside the requirements of the law). 

It was decided to form an IHA committee to gather the information the Department wants and meet with them before the legislative session.    If you are interested in serving on this committee please contact the IHA office at 208-947-8094.
Representative Brent Crane was present to speak with us.   He discussed:

  • Significant transition in the legislature this year due to retirements and elections
  • Budget numbers are looking good for this year
  • Some possible legislation this year includes health insurance exchange, Medicaid, removal of personal property tax
  • Potential leadership races and committee chairs

Lyman continued with his legislative report and it is detailed below.

Elected to the Board of Directors was Jeanne Johnson of Home Crest Mobile Home Park; Mark Smith of Fleetwood Homes/Idaho; Bob Mortensen of A-BAR-M MHC and Mike Jensen of Jensen Homes, Inc.  After the board election, Karyn Felix was nominated to serve a full term as president and was unanimously elected.   The remaining Executive Board members (Vice-President and Community Member) will be selected by the full Board at their next regularly scheduled meeting.

Congratulations to all!

IDAHO HOUSING ALLIANCE LEGISLATIVE REPORT
By Jack Lyman

The November election will be the first since the legislature was reapportioned.  I don’t expect much partisan change:

House –           Current:  Republicans 53 – Democrats 17
Republicans will win between 52 to 55 seats
                        Democrats will win between 15 to 18 seats

Senate –          Current:  Republicans 28 – Democrats 7
                        Republicans will win between 27 to 29
                        Democrats will win between 6 to 8

There will likely be competition for all four House Republican leadership positions and for two of the three for Democrats.  There will likely be no race for Senate President Pro Tem and Senator Brent Hill will be re-elected.  There will be competition for the other three Republican positions and for at least two of the three Democrat positions. 

Long-time friends and supporters of our industry who chaired the key committees in the House and Senate have retired and we will need to work with new Chairmen.  I expect Senator John Goedde from Coeur d’Alene to move from Chair of Education Committee to become Chair of the Commerce Committee.  I don’t have a clue what will happen in the House where there are a large number of chairmen vacancies and a large number of new members.  I am confident we will be able to work with the person eventually appointed to that  position.  

I expect Governor Mitt Romney to win Idaho’s four electoral college votes with about 73% of the vote.  We have no U.S. Senate races or statewide races this year.

The ballot will include three referendums concerning education reform.  The referendum process was a progressive idea popular in the late 19th and early 20th century.  Most state constitutions written then provided a means for the people to overturn acts of the legislature.

Prop. 1 relates to the collective bargaining rights of Idaho teachers.  The legislature passed  a law that limits those rights.  A “yes” vote would approve of that change; a “no” vote would repeal the law.  I expect a majority of voters to vote “yes” on this proposition.

Prop. 2 relates to merit pay for teachers.  The legislature passed a law that provides for merit pay on a school-wide basis for schools that achieve certain benchmarks.  A “yes” vote would approve those changes; a “no” vote would repeal that law.  I expect a slim majority of votes to vote “no” on this proposition.

Prop. 3 relates to providing computers to Idaho high school students.  The legislature passed  a law to provide computers and to require students to take at least two on-line courses to graduate.  A “yes” vote would continue the program; a “no” would repeal the law.  I expect a majority of voters to vote “no” on this proposition.

If all of the propositions are sustained (a majority of voters vote “yes” on all of them), the primary education issue during the 2013 Legislature will be funding.

If any or all of the laws are repealed (a majority of voters vote “no”), the legislature may enact similar laws to replace those repealed.  They have the right to pass the same exact laws but that is unlikely to happen.

The 2013 Legislature will again face difficult fiscal issues as they come under pressure to restore funding to many of the programs that have been cut over the past five years.  Revenues are currently exceeding expectations.  If that continues, the pressure will increase to put more money into education and health care programs like Medicaid.  I expect almost all state agencies to look to increase their budgets but don’t expect them to be received well by the Governor.  The focus instead will be to restore funding to the several budget stabilization funds that were used to ease the budget pain over the past five years.  Most of those funds have been depleted and I expect the Governor to move to replenish those funds before he expands state government.

Of interest to us will be amendments to the Residential Mortgage Practices Act that will complicate any lending practices you might engage in.  You’ll hear more about that later in the program.

Also of interest to you will be legislation that will remove “service companies” from the state’s licensing statute.  When we originally enacted the licensing statute we believed that HUD required us to license service companies that worked on HUD homes after their original installation.  We have since learned that there is no federal requirement to license or even monitor work done on such homes.  We will repeal the licensing requirement and work to educate local building officials about the unique issues our homes present to folks who work on them.

Installer and Inspector Training
IHA has teamed with the Idaho Association of Building Officials to develop a four hour training course that will meet Idaho State requirements for continuing education for both installers and inspectors.  The thought is to provide the same training for both groups so that everyone is on the same page!   The committee hopes to put finishing touches on the effort by next week for presentation to the state Manufactured Housing Board at their November 27 meeting.  If you are interested in reviewing and commenting on this training, or just want more information, call the IHA office at 208-947-8094 or email us at tottens@amsidaho.com

MANUFACTURED HOUSING BOARD TO MEET

NOTICE OF PUBLIC MEETING
MANUFACTURED HOUSING BOARD
VIDEOCONFERENCE MEETING
Division of Building Safety
1090 East Watertower Street, Suite 150, Meridian, Idaho
1250 Ironwood Drive, Suite 220, Coeur d’Alene, Idaho
2055 Garrett Way, Building 1, Suite 4, Pocatello, Idaho
dbs.idaho.gov – (208) 332-7137

Tuesday – November 27, 2012
9:30 a.m. – 11:30 a.m. (MT)
(Note: Meeting Time is 8:30 a.m. PT)

9:30 a.m. CALL TO ORDER – Chairman Kelly Gates II
o Roll Call & Introductions
o Open Forum

CONSENT AGENDA
1. Approval of the November 27, 2012 Agenda

2. Approval of the July 24, 2012 Board Meeting Minutes

ACTION AGENDA
3. Schedule 2013 Meeting Dates – Kelly Gates II
4. Idaho Code § 44-2101 “Purpose-License Required-Reinstatement” – Steve Keys

INFORMATIONAL AGENDA
5. IHA and IDABO Continuing Education Proposal – Teri Ottens and Doug Strunk
6. Deputy Administrator Report – Steve Keys
7. Administrator Report a. Financial Report – C. Kelly Pearce and Kathleen Watkins

11:30 a.m. ADJOURN

 

 

Headlines

MHI News


MHI Holds Forward-Looking Annual Meeting with Election of New Officers
MHI Weighs in on Wave of CFPB Housing Finance Rules
HUD Planning Grants Help Communities Meet Affordable Housing Needs
New Online Awards Entry System Unveiled for the 2013 Community and Retail Sales Center of the Year and Manufactured and Modular Home Design Awards
2013 Congress & Expo Call for Presentations

Events & Offers


Mark Your Calendars for MHI's 2013 Legislative Conference and Winter Meeting to be Held February 24-26, 2013 in Crystal City, VA/Washington, DC
2013 National Congress & Expo for Manufactured and Modular Housing to be Held April 16-18, 2013 at the Paris Hotel in Las Vegas
MHI Members - Start Saving with MHI's Business Service Discount Program
MHI News

MHI Holds Forward-Looking Annual Meeting with Election of New Officers

MHI’s 2012 Annual Meeting, held October 7th-9th in San Antonio, proved to be a success with 126 industry leaders attending, an increase over last year’s meeting. The two-day meeting was filled with informative and well-attended division, committee, and council meetings, in addition to the MHI Board of Directors’ meeting and the election of new MHI officers.

MHI’s new executive officers, voted into office during the Annual Membership Meeting and Luncheon sponsored by NORDYNE, are Don Glisson of Triad Financial Services, Chairman; Nathan Smith of SSK Communities, Vice-Chairman; Phyllis Knight of Champion Home Builders, Inc., Treasurer; Kevin Clayton of Clayton Homes, Inc., Secretary; Joe Stegmayer of Cavco Industries, Inc., Past Chairman.

The following is a recap of the many productive meetings and events that took place during the 2012 MHI Annual Meeting:

General Sessions

Two general sessions were held with presentations by several invited speakers. Sponsored by Hart, King and Coldren, the Monday morning session focused on health care reform and how it will impact businesses in 2013 and 2014. Detailed information was provided on new requirements and on how employers can address compliance with the law. Rob Coldren, Esq., moderated the session and speakers were: Brad Oxford, Esq., of Strasberger Price Oppenheimer Blend and Kristy Ventimiglia and Peter Benshetler of Gallagher Benefit Services. Tuesday’s session, sponsored by Style Crest, Inc., featured Christina Suthammanont, Ph.D., Assistant Professor and Program Coordinator, Department of Political Science, Texas A&M University – San Antonio. She provided an analysis of the political climate and public mood/perceptions and a current look at the election polls. She provided statistical comparisons of industry shipment data with government spending and regional GDP. Lastly, she made predictions about the election outcome. Presentations for both general sessions are posted under MHI News on MHI’s Web site at www.manufacturedhousing.org.

Industry Awards

Five industry members were honored and MHI-PAC held its annual raffle and silent auction during MHI’s Annual Awards Dinner sponsored by Drew Industries/LCI/Kinro. The following awards were presented: Manuel Santana, P.E., Director of Engineering for Cavco Industries, Inc., received the Frank Walter Standards Award which is selected by the MHI Technical Activities Committee; D.J. Pendleton, executive director of the Texas Manufactured Housing Association received the Jim Moore Excellence in Communications Award presented by the Manufactured Housing Executives Council (MHEC); and Sheila Dey, executive director of the Western Manufactured Housing Communities Association (WMA) received the State Association Executive of the Year Award which is a peer award selected by the state association executive directors. MHI Chairman Joe Stegmayer, Chairman and CEO of Cavco Industries, Inc. presented two Chairman’s Awards. One was presented to Tom Hodges, General Counsel for Clayton Homes, Inc. for his service to the association and industry in assisting with legislative and regulatory issues of the SAFE Act and Dodd-Frank Act. The other was presented to Howard Walker, Vice Chairman of the Board of Equity Lifestyle Properties, Inc., for his assistance during MHI’s search for a new President and CEO and his support of the staff and the association during the transition period.

Board Meeting

The MHI Board of Directors’ agenda included the summary of the audited 2011 financial statements and management letter provided by RAFFA, PC, which concluded that MHI’s financial statements present fairly, in all material respects, the financial position of MHI. The Board also reviewed the August year-to-date financial statements which continue to show strong financial performance of MHI. MHI has continued to manage expenses and has rebuilt its cash reserves to nine months of operating expenses, demonstrating a full recovery from the necessary reductions which occurred a few years ago. Finally, the Board approved the 2013 budget which plans for a $25,000 surplus, including a growth in dues from MHI’s membership market share of shipments and increased advocacy efforts for MHI’s members.

Manufacturers Division

Manufacturers discussed opportunities for modular housing to be utilized by states and local governments for disaster recovery and replacement. Manufacturers then affirmed 2012 legislative and regulatory priorities regarding energy efficiency standards and the HUD manufactured housing program. They agreed to support a recommendation of the Technical Activities Committee that MHI continue to prepare for the eventual publication of a DOE energy standard and develop an industry-based alternative to the DOE proposal that could be supported by DOE, the Manufactured Housing Consensus Committee (MHCC), and eventually adopted by HUD. The standard should balance affordability with energy efficiency.

The manufacturers also discussed the need for improvements to the HUD 2013 priorities for HUD’s Manufactured Housing Program that would include more technical assistance, training (in lieu of punitive enforcement), better communication between HUD and the manufacturers, and more transparent and clearly defined guidelines for auditing quality assurance programs. Longer-term, the manufacturers asked staff to develop recommendations to amend the Manufactured Housing Construction and Safety Standards Act to reflect new federal, state and local budget and regulatory realities.

The meeting concluded with elections for representation on the MHI Board and leadership of the two divisions. Charley Lott, Fleetwood Enterprises, Inc. is Chairman and Jack Lawless, Champion Home Builders, Inc. is Vice Chairman of the Manufactured Housing Division. Dennis Jones, R-Anell Housing Group, LLC is Chairman and Jayar Daily, American Homestar Corporation, is Vice Chairman of the National Modular Housing Council.

Financial Services Division

MHI’s Financial Services Division members held elections to fill six vacancies on its Board of Governors. Four members of the division were elected to fill seats which expire in 2016: Barry Cole, MHIS; John Loucks, Assurant Specialty Property; Scott MacFarlane, U.S. Bank; and Tim Williams, 21st Mortgage Corp. In addition, two seats on the board were filled through a special election with Sean Dalton, MHD Empire Services Corp., and Barry Noffsinger, CU Factory Built Lending, being elected. Taking over as Chair of the Division will be Tim Williams, 21st Mortgage, while Dick Ernst, FINMARK, was elected Vice Chair.

Marc Lifset of the law firm McGlinchey-Stafford PLLC provided an update on the activities of the Finance Lawyers Committee, which included an overview of regulations of special concern to the manufactured housing industry currently pending within the Consumer Finance Protection Bureau (CFPB). Finally, MHI staff provided a detailed update and overview of the association’s activities related to the passage of Dodd-Frank and SAFE Act reform legislation and its work to minimize the impact CFPB regulations will have on the manufactured housing industry.

Federated States Division

The Federated States Division was given a demonstration of MHI’s new online awards entry system that will be utilized for the 2013 Retail Sales Center of the Year, Land-Lease Community of the Year, and Manufactured and Modular Home Design Awards. The online awards system allows individuals to enter the National Industry Awards competition, find eligibility information and submission requirements, view the contest rules, pay entry fees, and upload all of their entry files for judging online. State associations that are interested in utilizing the same system as MHI will be able to do so for a small licensing fee and will be able to customize their award programs and also have their programs feed into the national awards program. MHI anticipates that members will welcome the ease of using an online system and that it will increase participation in the awards program. A link to the awards system can be found by clicking here. State associations who may be interested or would like to have a WebEx demonstration of the system can contact Cheryl Langley at cheryl@mfghome.org.

The Federated States Division also discussed the recent Anti-Money Laundering Program requirements and the approved Uniform Law Commission’s (ULC) Uniform Manufactured Housing Act that was approved over the summer. Discussion was held on how states can watch for any activity related to the legislation being introduced into the state legislatures.

Elections were held and Jennifer Hall, executive director of the Mississippi Manufactured Housing Association, was elected Chairman; Ross Kinzler, executive director of the Wisconsin Housing Alliance, was elected Vice Chairman and Don Westphal, President of Donald C. Westphal Associates, L.L.C., was elected to the board of governors.

Suppliers Division

The Suppliers Division discussed how health care reform would affect their businesses and how best to prepare. Robert Coldren, Esq. from the law firm Hart, King & Coldren provided comments and answered questions from members regarding the new plan. MHI’s Lois Starkey briefed the division on an initiative by DOE in partnership with the Systems Building Research Alliance (SBRA) to come up with new technologies and applications to address the new energy efficiency standards that the industry will face. At this point, the preliminary specifications for the advanced wall design have been completed and the specificiations distributed to a select group of insulation companies, challenging them to come up with a composite product that can serve as the basis of future, factory-built wall construction.

The division discussed a new initiative to increase membership by gathering testimonials from members on benefits of membership and then encouraging members to recruit new members. In addition, all MHI members are encouraged to display “Proud Member of MHI” along with MHI’s logo wherever possible. The division also encouraged members to do business with fellow division members. If you would like to send in your testimonial (with or without your photo) or would like to receive MHI’s logo, please contact Cheryl Langley at 703-558-0668 or cheryl@mfghome.org. The testimonials will be used on our website and membership marketing materials.

Lastly, elections were held with George Waechter, Minute-Man Anchors, Inc., taking over as Chair and Knute Chauncey, Tie Down Engineering, Inc., elected as Vice Chair. Elected to the Suppliers Division Board of Governors were Leigh Abrams, Drew Industries, and Michael Zieman, P.E., RADCO.

National Communities Division (also known as National Communities Council)

In addition to highlighting 2012 activities such as the “Community Connections” quarterly newsletter, several important updates were provided during the council meeting. MHI Vice President Jason Boehlert provided an update regarding the CFPB and other provisions of Dodd-Frank while Marc Lifset, McGlinchey Stafford PLLC, provided updates on the Uniform Law Commission Model Manufactured Home Act and the Anti-Money Laundering Act. Jenny Hodge, who recently joined MHI as the new Vice President of the National Communities Council, described a report on the sustainability and efficiency of manufactured housing communities as well as an informational update that the EPA is considering an update to its rules on lead and copper in plumbing systems.

Christine Lindsey, UMH Properties, Inc., Fran Hirsch Wright, Brandenburg, Staedler & Moore, and Don Westphal, Donald C. Westphal Associates, L.L.C., were reelected to the Board of Governors, and Matt Follett, follettusa, was elected to the Board of Governors. Council Chairman David Lentz, American Land Lease, was reelected and Howard Walker, Equity Lifestyle Properties, Inc., was elected Vice Chair. In both his opening and closing comments, Lentz was adamant in affirming his goal of working with community owners and operators of all sizes and finding ways to be inclusive across the spectrum of members.

National Retailers Division (also known as the National Retailers Council)

The National Retailers Council (NRC) was briefed by Richard Ernst, President of FINMARK, regarding the specific issues within Dodd-Frank and the CFPB rule-makings that would impact retail sales centers and their business activities. The NRC members were given a tour of the “Retailer Resources” section of the MHI Web site which provides many templates and forms needed to comply with a variety of federal regulations that impact retail sales centers. The members discussed the Anti-Money Laundering (AML) regulations and reviewed a check list developed by Jess Maxcy, President of the California Manufactured Housing Institute, on actions to take if a sales center determines that it is not covered by the AML regulations. It was recommended that the check list be added to the MHI Web site under the AML information.

The meeting concluded with elections where Kevin Satterthwaite, President of Pine Ridge Homes, was elected Chair and Leo Poggione, President of Craftsman Homes, was elected Vice Chair.

Government Relations Committee

MHI Government Relations staff provided an overview on the association’s 2012 legislative and regulatory activities, which included updates on: Dodd-Frank and SAFE Act legislative and regulatory reform; Department of Energy efficiency standards for manufactured housing; extension of tax credit programs for the production of Energy Star® manufactured and modular housing; and weather radio legislation. The committee also approved a motion recommending the MHI Board of Directors approve 2013 policy priorities as recommended by MHI staff.

Technical Activities Committee Meeting

During the well-attended Technical Activities Committee (TAC) meeting there was extensive discussion on proposed new energy efficiency standards for manufactured housing pending at the U.S. Office of Management and Budget. The U.S. Department of Energy (DOE) is proposing to mandate new standards for manufactured housing (comparable to those in the International Energy Code Council’s (IECC) 2012 recommendations for residential housing) that would increase energy efficiency by as much as 30 percent over existing building codes. Over the past few months, a small TAC working group has been developing an alternative updated energy standard for manufactured housing tailored more appropriately to the HUD Code that considers affordability as well as energy efficiency. The committee had a general discussion of the draft proposal, and Chairman Mark Ezzo, Clayton Homes, Inc., asked for all committee members to review it carefully and provide written comments. In the meantime, the TAC will continue to work to develop a cost analysis of the proposal.

TAC also agreed to develop amendments to the HUD Code that would include on-site construction of certain types of roof components, ventilation, fire safety, improved quality assurance guidelines, and the elimination of current requirements mandating the use of galvanized anchor assemblies for consideration by the Manufactured Housing Consensus Committee (MHCC).

Manufactured Housing Executives Council

The Manufactured Housing Executives Council (MHEC) met on Saturday, October 6th, for an all-day professional development meeting, with 19 state association executives in attendance. Led by designated state association executives, topics included meetings and education, increasing association revenue, PAC management and political grassroots growth, and communications to include new technologies and Web tools. During lunch, Beth Brooks, the executive director of the Texas Society of Association Executives, discussed several prevalent association management books. On Sunday afternoon, MHEC held its regular business meeting where state association executives reported on state activities.

Manufactured Housing Education Institute

The Manufactured Housing Education Institute (MHEI) Board of Directors met on Sunday evening. During introductions each board member was asked to discuss the importance of education within the industry. The board spent a significant amount of time discussing the programming for the 2013 National Congress & Expo for Manufactured and Modular Housing, reviewing the keynote and general session speakers that have been selected, and discussing potential workshop topics and presentation formats.

Manufactured Housing Institute-Political Action Committee

MHI-PAC Chairman Rick Rand, Great Value Homes, reported that in addition to the pledge campaign to raise PAC funds, the MHI-PAC sponsored six fundraisers in the current election cycle. The most recent fundraisers were for Rep. Joe Donnelly of Indiana and Sen. Sherrod Brown of Ohio where Nathan Smith, SSK Communities, was instrumental in working with MHI members to raise money for these two campaigns. The MHI-PAC Board of Trustees focused their discussion on the status of the 2012 Election Cycle contributions. With sufficient funds to support the PAC’s initiatives, the Board decided that there should be targeted contributions to candidates who had demonstrated a willingness to work with the manufactured housing industry in achieving its objectives on Capitol Hill. The new business conducted during this meeting included appointing Laura Lee, MHI’s Controller and VP of Finance and Administration, as the Treasurer and Executive Director of the MHI-PAC.

The MHI-PAC holds its primary fundraiser during the Annual Meeting each year. Nearly $40,000 was raised this year for the PAC and PAC Administrative Fund through a raffle and silent auction. George Allen of GFA Management, Inc. won 3rd prize of $1,000 and immediately donated his winnings back to the PAC. Second prize of $1,500 went to Marc Lifset, McGlinchey Stafford PLLC, and the 1st place prize of $2,500 went to Tony Watson, Champion Home Builders, Inc. The premier item for the silent auction was two box seat tickets to the 2013 Kentucky Derby donated by Nathan Smith. A bidding war ensued between Howard Walker, Equity Lifestyle Properties, Inc., and Gregg Pardieck, The Village Green. At that point, Smith agreed to provide two more tickets to the Derby and both men won!

Salute to Meeting Sponsors

MHI would like to express its deep appreciation to the many companies who graciously sponsored various meeting events.

Platinum Sponsor

Drew Industries/LCI/Kinro – Awards Dinner

Gold Sponsors

Cavco Industries, Inc. – Awards Reception
Hart, King & Coldren – Monday Opening Session Breakfast
NORDYNE – Annual Membership Meeting and Luncheon
Style Crest, Inc. – Tuesday Morning General Session Breakfast
Triad Financial Services, Inc. – Welcome Reception

Silver Sponsors

Assurant Specialty Property – National Communities Council Meeting
CU Factory Built Lending – National Retailers Council Meeting
follettusa - Lanyards
Manufactured Housing Insurance Services – Registration Desk/Marketing Materials
McGlinchey Stafford PLLC – Federated States Division Meeting
RADCO – Technical Activities Committee Meeting
SENCO – Manufactured Housing Division Meeting
Shaw Industries, Inc. – Suppliers Division Meeting
SSK Communities and YouGotItHomes – Government Relations Committee Meeting
T.R. Arnold & Associates – National Modular Housing Council Meeting
U.S. Bank – Financial Services Division Meeting
Return to Headlines

MHI Weighs in on Wave of CFPB Housing Finance Rules

Over the past month, MHI has worked to represent the concerns of the manufactured housing industry in its comments to a number of housing finance proposed rule makings recently released by the of Consumer Financial Protection Bureau (CFPB).

MHI is concerned that a number of new regulations currently being developed by the CFPB could further limit access to and the availability of credit in the already finance-constrained manufactured housing market. In addition to efforts to amend the Dodd-Frank law through legislative measures in the House and Senate (H.R. 3489 & S. 3484), MHI is actively advocating the industry’s concerns before key staff at the CFPB.

Below is a summary of selected rules MHI believes are of significant concern to the industry and a copy of comments submitted. MHI staff is working to ensure final rules adequately reflect the price sensitivities and unique challenges inherent to the manufactured housing market.

Appraisal Requirements for Higher-Risk Mortgages — implements Dodd-Frank provisions that an appraisal (including a physical inspection of the interior of a home) be conducted on homes with mortgages considered “higher-risk.” Under the law, qualified mortgages (QMs) would be exempt from the “higher-risk mortgage” definition and thereby exempt from appraisal requirements. In general, if the loan is not a QM and has an APR that is 1.5 percentage points over prime, it is considered “higher-risk.” Based on input from MHI, the rules proposed by the CFPB and others would exempt any loan “solely secured by a residential structure,” such as manufactured homes from the higher-risk mortgage definition. Based on the unique difficulties of appraising manufactured homes, MHI is working to expand this definition to include any manufactured home loan secured by real property.

Click here to view the proposed rule.
Click here to view MHI’s comments.
Click here to view a summary of the appraisal proposed rule.

Equal Credit Opportunity Act Amendments — requires creditors to provide consumers free copies of all written appraisals and valuations developed in connection with an application for a mortgage. The proposal would require creditors to notify applicants in writing of the right to receive a copy of each written appraisal or valuation at no additional cost. With respect to new manufactured homes, most lenders develop a maximum loan amount based on the manufactured home’s invoice price. In the proposed rule, the CFPB indicates that “valuations such as manufacturer’s invoices for mobile homes” would not be considered a “written appraisal or valuation” and would not have to be provided to consumers by lenders. In addition, publically available valuation lists (such as published sales prices or mortgage amounts, tax assessments and retail price ranges) would not be items considered that would have to be provided to consumers.

Click here to view the proposed rule.
Click here to view MHI’s comments.

HOEPA High-Cost Mortgage Revisions — Dodd-Frank expands the types of mortgages subject to the protections of the Home Ownership and Equity Protection Act (HOEPA); revises and expands the triggers for coverage under HOEPA; and imposes additional restrictions on HOEPA “high-cost mortgage” loans, including a pre-loan counseling requirement. Because of fixed costs (such as servicing and origination) and lack of secondary market access, low-balance manufactured home loans are particularly susceptible to being classified as high-cost under the revised HOPEA guidelines. Due to liabilities associated with a high-cost/HOEPA mortgage, lenders will simply not originate these loans—potentially further stifling the availability of credit in the manufactured housing market. MHI has urged the CFPB to significantly broaden the APR and points fees thresholds that define HOEPA high-cost loans and ensure that less low-balance manufactured home loans are captured by triggers that currently do not fully account for the price pressures in the manufactured housing market.

Click here to view the proposed rule.
Click here to view MHI’s comments.

Loan Originator Compensation Rules —Implements changes made by Dodd-Frank to Regulation Z’s current loan originator compensation provisions, including a new additional restriction on the imposition of any upfront discount points, origination points, or fees to consumers under certain circumstances. The rule implements a very narrow exemption for manufactured housing retailers to “exclude employees of a manufactured home retailer who assist a consumer in obtaining or applying to obtain consumer credit, provided such employees do not take a consumer credit application, offer or negotiate terms of a consumer credit transaction, or advise a consumer on credit terms (including rates, fees, and other costs).” Unfortunately, the provision provides no meaningful relief to the industry.

MHI has maintained the position that the exemption for manufactured home retailers should be based upon the compensation received in the home sale. If the compensation received is no greater than what the retailer would have received in an all-cash transaction, then the individual retailer/seller should not be considered a loan originator. Unless clarifications are made, MHI is concerned that lenders may be forced to consider sales commissions earned by a manufactured home retailer as compensation and gain for purposes of calculating a loan’s APR or points and fess. This could then cause the loan to fail the test for a “qualified mortgage” or a HOEPA/high-cost mortgage.

Click here to view the proposed rule.
Click here to view MHI’s comments.

RESPA & TILA Mortgage Servicing Guidelines - The rules implement Dodd-Frank provisions regarding mortgage loan servicing. Specifically, this proposal implements Dodd-Frank sections addressing initial rate adjustment notices for adjustable-rate mortgages (ARMs), periodic statements for residential mortgage loans, and prompt crediting of mortgage payments and response to requests for payoff amounts. The proposed rule would provide an exemption to small servicers—defined as those that service 1,000 or fewer mortgage loans and service only mortgage loans that they originated or own—for the periodic statement requirements.

Click here to view the RESPA proposed rules.
Click here to view the TILA proposed rules.
Click here to view MHI’s comments.
Click here to view a summary of the new servicing requirements.

MHI members can contact Jason Boehlert at jboehlert@mfghome.org or (703) 558-0660.
Return to Headlines

HUD Planning Grants Help Communities Meet Affordable Housing Needs

Last week, the U.S. Department of Housing and Urban Development (HUD) awarded 17 communities $4.9 million in competitive planning grants to help them develop comprehensive, community-driven plans to revitalize distressed neighborhoods into viable and sustainable mixed-income neighborhoods. While these grants, known as Choice Neighborhood Grants, are primarily targeted for the revitalization of public and assisted housing, they are also used in conjunction with Consolidated Plans which provide the framework for housing and community and economic development activities for municipalities and states who receive other HUD funding, including Community Development Block Grants and Home Investments Partnerships Grants, both of which provide for the use of manufactured and modular housing. For information on these grants, click here.

These planning processes include rural, suburban, and urban communities across the nation and can be powerful tools for leveraging federal resources for affordable manufactured housing development, preservation, and replacement. For example, communities in Oregon and New York have used the Consolidated Planning process to develop successful programs for the preservation and development of manufactured home communities and the replacement of outdated manufactured homes.

Industry members at the state and local level are encouraged to participate in these planning processes which include local and state governments, private sector housing providers, and non-profit housing organizations.

For more information about these initiatives, MHI members can contact Lois Starkey at lstarkey@mfghome.org or (703) 558-0654.
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New Online Awards Entry System Unveiled for the 2013 Community and Retail Sales Center of the Year and Manufactured and Modular Home Design Awards

MHI is pleased to announce its new online awards entry system for the 2013 National Industry Awards. With this new system, you can enter the National Industry Awards competition, find eligibility information and submission requirements, view the contest rules, pay entry fees, and upload all of your entry files for judging online. Click here to enter or view information on the competition.

In addition, manufactured housing state associations that currently have awards contests or are considering starting a contest can offer this program to their members. State associations who may be interested or would like to have a WebEx demonstration of the system can contact Cheryl Langley at cheryl@mfghome.org.

The National Industry Awards are presented each year at the National Congress & Expo for Manufactured and Modular Housing, bringing recognition to the country's best manufactured home communities, manufactured home retail sales centers, and new manufactured and modular home designs. This year, the Congress & Expo will be held April 16-18, 2013 at the Paris Hotel in Las Vegas. Click here for information on the 2013 Congress & Expo. Awards will be presented on Wednesday, April 17th. Each award winner receives a personalized trophy and each entry will be placed in MHI's new Photo Gallery. Click here to view.

Please note the following deadlines for entering the 2013 National Industry Awards:

- Submit entry form and fee by February 22, 2013.

- Submit entry materials for judging by March 8, 2013.

Please note the following membership requirements for entering the
competition.

- Manufacturers that enter the Manufactured and Modular Home Design Awards competition must be a member of the Manufactured Housing Institute (MHI).

- Retailers that enter the Retail Sales Center of the Year Award must be a member of the state association of the state where the sales center is located.

- Communities must be a member of the state association in the state where it is located.

If you have any questions, please contact Cheryl Langley at cheryl@mfghome.org.
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2013 Congress & Expo Call for Presentations

MHI and the Manufactured Housing Educational Institute (MHEI) are soliciting proposals for educational workshops to be held during the 2013 Congress & Expo for Manufactured and Modular Housing which will be held at the Paris Hotel in Las Vegas, Nevada April 16-18, 2013. Please share your expertise and experience by submitting an educational program. Click here for a form to submit your proposal and review policies related to speakers.

Educational workshops should be relevant and timely for the industry. The length of each workshop at the Congress & Expo is 75 minutes. Proposals will be evaluated on four criteria: 1) Relevance and timeliness of the topic to today’s manufactured and modular housing industries; 2) How well-defined the topic is; 3) Practical application of the material for attendees; and 4) Presenter qualifications.

MHI members can contact Ann Parman at ann@mfghome.org or (703) 558-0653.
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Events & Offers

Mark Your Calendars for MHI's 2013 Legislative Conference and Winter Meeting to be Held February 24-26, 2013 in Crystal City, VA/Washington, DC

MHI's 2013 Legislative Conference and Winter Meeting will be held at the Sheraton Crystal City, in Crystal City, VA/Washington, D.C. on February 24-26, 2013.
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2013 National Congress & Expo for Manufactured and Modular Housing to be Held April 16-18, 2013 at the Paris Hotel in Las Vegas

With the theme of Engage Today – Thrive Tomorrow, the 2013 Congress & Expo will move back to the Paris Hotel for 2013 with a low room rate of $109 per night. The Paris Hotel provides excellent meeting facilities for the Congress & Expo with easy access to the convention area for attendees and exhibitors.

Keynote and general session speakers for 2013 will be Ro Khanna and Celia Chen. Ro Khanna is a former Deputy Assistant Secretary of Commerce who has traveled across the country visiting a wide variety of manufacturing facilities. In his recent book, Entrepreneurial Nation, he talks about spurring innovation and growth among small and large businesses, the importance of engaging employees and customers in the design and production processes, the importance of proper staffing of U.S. regulatory agencies monitoring manufacturers, and the examination of characteristics of the most successful companies in America. Khanna believes manufacturing is key to America’s future and for its economic and national security. Khanna’s insights are based on first-hand observations of manufacturers building important products right here in America. Ceila Chen is a senior director of the Moody’s Analytics research staff, specializing in housing economics. She specializes in housing price forecast models, developing proprietary housing market indicators, and writing extensively about housing issues. She speaks regularly on Wall Street Radio, Bloomberg and CNBC. At the Congress & Expo, she will provide a current analysis and forecast of the housing and finance markets including the manufactured housing industry.

Other education events will include the popular annual NCC Forum on April 16th and a variety of workshops on April 17th and 18th. The National Industry Awards will be presented during the Awards Luncheon on April 17th. For more information on the National Industry Awards, and to enter in the awards program (utilizing MHI’s new online awards system) go to the link under “National Industry Awards” on the Congress & Expo Web site at www.congressandexpo.com.

The 2013 Congress & Expo will feature exhibits from leading product and service providers in the industry providing the opportunity for attendees to see the latest services, innovations and technologies available. Event sponsors can take advantage of a wide array of benefits including complimentary registrations, registration list for marketing, complimentary exhibit booth space and much more. For information on exhibiting, please visit www.congressandexpo.com and click “Exhibitors” for the floor plan, exhibitor agreement, and list of 2013 exhibitors. Sponsorship information can be found by clicking on “Sponsors” and “Become a Sponsor.” For any questions on becoming an exhibitor or sponsor, please contact Cheryl Langley at (703) 558-0668 or cheryl@mfghome.org.

Mark your calendar now for April 16-18, 2013 and visit www.congressandexpo.com for details and registration information.

MHI thanks the following sponsors for their generous support of the 2013 Congress & Expo:

Diamond Sponsors

Marcus & Millichap
Sunstone Manufactured Housing Consultants

Gold Sponsors

follettusa
Green Courte Partners, LLC
Neace Lukens
RHP Properties, Inc.
Yes! Communities

Bronze Sponsor

U.S. Bank
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MHI Members - Start Saving with MHI's Business Service Discount Program

Did you know that you can save on products and services through MHI? Listed below are just a few of the savings opportunities available to MHI members:

Sears

MHI and Sears have teamed up to offer MHI members substantial savings from Sears Commercial Marketplace. Members can save 5-50 percent on the largest selection of products including energy saving appliances, Craftsman® tools and more. There are more than 50,000 items available in this program. For more information, please visit
www.manufacturedhousing.org/about_us/Member_Discount_Program
.asp
.

FedEX

As a MHI member, you are now eligible to receive valuable discounts of up to 16% off select FedEx Express® and FedEx Ground® shipping services. Also, save up to 70% off FedEx Freight® shipping services.

MHI members save:

• 16% on select FedEx Express® U.S. services
• 16% on select FedEx Express international services
• 8% on select FedEx Ground® services
• 8% on select FedEx Home Delivery® services
• Up to 70% on FedEx Freight® services

Start saving now. Visit www.1800members.com/mhi to enroll.

Within 7–10 business days of your enrollment, you should receive a Welcome Kit from FedEx which contains detailed information about your shipping rates. For more information about the FedEx Advantage® Program call 1-800-MEMBERS (1.800.636.2377, 8 a.m.–6 p.m. EST, M-F).

OfficeMax

MHI and OfficeMax® have teamed up to offer you big savings on more than 12,000 office essentials. Members can enjoy substantial savings off manufacturers' list price on frequently purchased items. You will also receive a 5% discount on over 12,000 products in the net priced catalog in addition to discounts on certain ImPress print and document services

The OfficeMax Advantage Program offers MHI members:

• Exclusive member pricing on thousands of items
• Easy Online ordering through OfficeMax Solutions
• Free delivery on in-stock orders over $50
• No-hassle returns

Members with less than 20 employees can click here and have your MHI OfficeMax Partner Advantage Program User Name: mhi0607179 and Password: omax1 available to start saving now!

Members with 20 or more employees call 1-800-248-6343 to request more information on setting up your account.

HP Member Savings Program

MHI members can enjoy special pricing and great discounts on a wide range of HP business products you use every day, including printers, notebooks, PCs, servers, and so much more! Plus, MHI members receive free US ground shipping, flexible financing and leasing options, a specially trained sales team, and award-winning service and support. For questions or to order by phone, call 1-888-202-4465 and mention code MHI. To shop online, visit www.hp.com/go/mhi.

If you have additional questions regarding these MHI member discounts (Fedex, OfficeMax or HP), please call 1-800-MEMBERS (1.800.636.2377, 8 a.m.–6 p.m. EST, M-F) to speak to a dedicated member representative. For more information on the Sears program, please visit www.manufacturedhousing.org/about_us/Marketplace.pdf.

UPS Air Freight

With UPS Air Freight, it’s easier than ever to send freight around the world. Our comprehensive portfolio of global air freight services provides options which fit your time-in-transit needs. Use our technology solutions to calculate rates and create shipments on ups.com. Then track your freight movements in real time or access a full view of shipment detail for your inbound, outbound, or third-party shipments right from your desktop. UPS Air Freight services allow you to control your supply chain, ensure goods get to their destinations and maximize shipping efficiency.

If you would like more information or require further assistance please contact 1-800-MEMBERS (636-2377)

To enroll visit Visit www.1800members.com/mhi or if you would like a quote on a pending shipment email saveonfreight@1800members.com.

YRC Freight

MHI members can save at least 70% on qualifying less-than-truckload (LTL) shipments. YRC offers flexible, efficient solutions, including comprehensive regional and national coverage with a full suite of guaranteed, expedited and specialized services.

• Expedited Precision™ offers you expedited, time-definite, air and ground service backed by our industry-leading customer satisfaction guarantee.
• Guaranteed Precision™ will get your goods to their destination with a guarantee, ensuring delivery, on or before the standard service date by noon, 5 p.m., or within a customer-defined window, or you don’t pay.
• Exhibit is a single source to satisfy your shipping needs to, from and between trade shows – including air and ground, expedited and guaranteed.
• Cross-border dedicated service to Canada, Mexico and Puerto Rico.
• YRC.com allows users to easily access shipping information 24/7.

If you would like more information or require further assistance please contact 1-800-MEMBERS (636-2377)

To enroll visit Visit www.1800members.com/mhi or if you would like a quote on a pending shipment email saveonfreight@1800members.com.

MHI understands that the success of your business depends on your ability to increase your bottom line. We hope that you find these additional member savings opportunities helpful to your business.
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Manufactured Housing Institute
2111 Wilson Blvd., Suite 100, Arlington, VA 22201
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October 19, 2012


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MHI Week in Review is a weekly member-only publication with important updates on its federal legislative and regulatory activities, association accomplishments, and other important items that members need to make important business decisions and to keep well informed on issues affecting all sectors of the manufactured and modular housing industries.


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