Keeping America’s Dream Affordable
To promote and protect the manufactured housing industry in Tennessee!
Your legislative, regulatory, and educational voice for the factory built industry in Tennessee.
Next Board of Director’s Meeting:
Thursday, April 13, 2017
Click: 2017 Class Schedule
You must be registered in advance of the class. No walk-ins.
Commerce & Insurance, the State Fire Marshal’s Office, Manufactured Housing Section, has announced the below schedule for the 2017 Manufactured Housing Industry Regional Meetings.
Wednesday, April 12, 2017
10:00 a.m. – 2:00 p.m. cst.
Lowell Thomas Building Conference Room 6
225 Martin Luther King Blvd.
Jackson, Tennessee 38301
Wednesday, April 19, 2017
11:00 a.m. – 3:00 p.m. cst.
Tennessee (Snodgrass) Tower 3rd Floor, Multi-Media Room
312 Rosa L. Parks Ave.
Nashville, Tennessee 37243
Wednesday, April 26, 2017
10:00 a.m. – 2:00 p.m. est.
Pellissippi Community College BA PSCC 3 Conference Room – A
7201 Strawberry Plains Pike
Knoxville, TN 37914
Tennessee Housing Association
P. O. Box 569
Mount Juliet, TN 37121
1002 Meb Court, Suite B
Mount Juliet, TN 37122
Governor Bill Haslam declares JUNE 2017,
as Manufactured Housing Month
Please consider printing a copy to display in your office.
(Click on the Proclamation Icon located to the left!)
Bipartisan Bill to Preserve Access to Manufactured Housing Has Been Re-Introduced in Congress
March 23, 2017
(As reported in part by MHI) Representatives Andy Barr (R-KY), Kyrsten Sinema (D-AZ), Bruce Poliquin (R-ME), Terri Sewell (D-AL), David Kustoff (R-TN), and Kathleen Rice (D-NY) have introduced H.R. 1699, the Preserving Access to Manufactured Housing Act, to alleviate the regulatory burdens which have impeded our consumers’ ability to finance manufactured housing, which is a critical resource for low and moderate income families across the country.
Introduced by a bipartisan group of members, H.R. 1699 addresses federal regulations implementing the Dodd-Frank Act which do not reflect the unique nature of the manufactured home financing and sales process. This legislation ensures manufactured housing remains available and affordable, without eroding important federal consumer protections established by the Dodd-Frank Act.
H.R. 1699 modifies the definition of “high-cost” loans so manufactured home loans are not unfairly swept under this designation, simply due to their small size. The provision of the Dodd-Frank Act which established parameters for which mortgage loans are classified as “high cost”, included more flexible annual percentage rate (APR) and points and fees provisions for small loans. This was in recognition of the simple mathematical fact that fixed costs on smaller loans, translate into higher percentages of the total loan. Unfortunately, in practice, this flexibility has not been sufficient to address market realities. Thus, some manufactured housing lenders have exited the market, and others are no longer offering smaller dollar amount (and most affordable) loans. The most recent Home Mortgage Disclosure Act (HMDA) data shows consumers have been shut out of the market for quality, affordable housing because regulations have caused financing to be less available for manufactured homes. A simple, but necessary, adjustment to these thresholds is necessary to enable lenders to fully meet the demand for affordable financing for manufactured homes.
The bipartisan legislation also clarifies manufactured home retailers and salespersons are not loan originators. The current CFPB definition of a loan originator is based on traditional mortgage market roles which do not equate with the business model of the manufactured housing industry, including lending and retail sales practices. Like real estate agents, manufactured housing retailers and salespeople are in the business of selling homes… not originating loans, and currently run the risk of being considered mortgage loan originators. This bill amends the SAFE Act and the Truth in Lending Act to exclude manufactured housing retailers and sellers from the definition of a loan originator, so long as they are only receiving compensation for the sale of the home, and not engaged in financing the loans.
The bill has been referred to the House Financial Services Committee. Companion legislation is expected to be introduced in the U.S. Senate.
As a note of history on this quest for legislative relief… during the 114th Congress, similar legislation (H.R. 650) was passed by the House of Representatives in April 2015 by a bipartisan vote. The legislation was included in the Fiscal Year 2017 Financial Services Appropriations bill, which passed in the House in July 2016. It was also included in the Financial CHOICE Act, which passed the House Financial Services Committee in September 2016. In the Senate, the legislation (S. 682) was included in the Financial Regulatory Improvement package the Senate Banking Committee passed in May 2015. The language was also included in the Financial Services Appropriations bill which passed the Senate Appropriations Committee in July 2015.
ELKHART, Ind. — The RV/MH Hall of Fame’s Annual Induction Dinner honoring the Class of 2017 will be held on August 7, 2017, at the Hall of Fame’s Northern Indiana Event Center in Elkhart, Indiana, according to Darryl Searer, president, RV/MH Hall of Fame (Hall).
Christine Lindsey is currently serving on the Tennessee Housing Association Board of Directors as the West TN Regional Representative Director, and was inducted into the industry’s Tennessee Hall of Fame in 2013. Ms. Lindsey has served on the THA Board of Directors, in some capacity, since 1994. Her contributions to the industry, specifically in the field of Community Management, as well as legislative review and support of community issues and laws, have been invaluable to not only fellow divisional members in this state, but also at the national level. Ms. Lindsey has represented Tennessee at the national level through her participation with the Manufactured Housing Institute (MHI) on their National Communities Council (NCC), and subsequently leading the NCC in an Executive capacity from 2006 – 2008; and was elected as the NCC Person of the Year in 2009. Ms. Lindsey’s unprecedented service and leadership to the manufactured housing industry warrants this most prestigious recognition.