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In a press release to Mobile and Manufactured Home Living News (MHLivingNews) and others in the news media, the Manufactured Housing Association for Regulatory Reform (MHARR) pointed a sharp finger at their rival national trade group. That press release is below and is followed by additional information with MHLivingNews analysis and commentary in brief.
FOR IMMEDIATE RELEASE Contact: MHARR
(202) 783-4087
Washington, D.C., August 3, 2023 – The Manufactured Housing Association for Regulatory Reform (MHARR) reports that according to official statistics compiled on behalf of the U.S. Department of Housing and Urban Development (HUD), HUD Code manufactured housing industry year-over-year production declined again in June 2023. Just-released statistics indicate that HUD Code manufacturers produced 8,169 new homes in June 2023, a 28.1% decline from the 11,373 new HUD Code homes produced in June 2022. Cumulative production for 2023 is now 43,888 homes, a 28.8% decrease from the 61,659 homes produced over the same period during 2022.
A further analysis of the official industry statistics shows that the top ten shipment states from January 2023 — with monthly, cumulative, current year (2023) and prior year (2022) shipments per category as indicated — are:
The statistics for June 2023 produce one change from last month, moving Georgia into 6th place, ahead of Michigan.
The continuing steep production decline illustrated by these statistics, is the result, in substantial part, of the complete failure of Fannie Mae and Freddie Mac to provide securitization and secondary market support for manufactured housing chattel loans under the Duty to Serve (DTS) mandate. For 15 years since the enactment of DTS, the mortgage giants have failed to provide any support for these loans, despite the fact that they represent some 80% of the manufactured housing market and provide access to the industry’s most affordable homes. If DTS were implemented, in a market-significant manner, that factor, in itself, would draw new lenders into the HUD Code financing market and reduce interest rates through increased competition and lowered risk.
Yet despite the fact that Fannie Mae and Freddie Mac continue to flout Congress and the law with respect to the vast bulk of the HUD Code market, the Manufactured Housing Institute (MHI), representing the industry’s post-production sector, in recent remarks to a DTS “Listening Session,” “commended” Fannie Mae and Freddie Mac for their “efforts” regarding DTS. So, instead of exerting maximum pressure on Fannie and Freddie to finally begin serving the core of the industry’s retail consumer base, the national representative of the industry’s post-production sector effectively gave the two entities a pass for their continuing failure to serve the vast bulk of the industry and its consumers. This is unacceptable and only helps to excuse and prolong an unacceptable status quo.
MHARR, for its part, continues to press the Federal Housing Finance Agency (FHFA) for the full, complete and robust implementation of DTS in all HUD Code consumer financing markets.
The Manufactured Housing Association for Regulatory Reform is a Washington, D.C.-based national trade association representing the views and interests of independent producers of federally-regulated manufactured housing.
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Additional Information with More MHLivingNews Analysis and Commentary in Brief
The hot links in MHARR’s release were to the following items.
SHOCKING NUMBERS — Manufactured Housing Production Decline Steepens as Industry Impediments Multiply
MHLivingNews provided our expert take, one of 16 formal remarks made to federal, Fannie Mae, Freddie Mac and other housing advocate officials at the link below.
Why is this happening? Two of the legal researchers looking into manufactured housing in the report linked below say and/or imply that the Manufactured Housing Institute (MHI) is working against the industry’s interests, not unlike what MHARR has alleged above.
The evidence strongly suggests that MHI is working on behalf of the interests of consolidators. This isn’t mere speculation, there are MHI members who have said as much publicly.
Notice: the graphic below can be expanded to a larger size.
Notice: the graphic below can be expanded to a larger size.
Notice: the graphic below can be expanded to a larger size.
Samuel Strommen was quite specific. He named MHI as part of the problem in manufactured housing. Strommen’s thesis while at Knudson Law was that MHI was part of a scheme to violate federal antitrust laws. Strommen said in his view it was a felony monopolization violation.
Millions of Americans NEED manufactured homes for affordable quality living.
And as MHLivingNews has uniquely demonstrated through years of research, the typical concerns about manufactured homes simply don’t stand up to scrutiny.
Which begs the question. Why has MHI dragged their feet in debunking the concerns about manufactured homes and working to advance access to the American Dream? See the post linked here for more. ##
That’s a wrap on this installment of “News through the lens of manufactured homes and factory-built housing” © where “We Provide, You Decide.” © ## (Affordable housing, manufactured homes, reports, fact-checks, analysis, and commentary. Third-party images or content are provided under fair use guidelines for media.) (See Related Reports, further below. Text/image boxes often are hot-linked to other reports that can be access by clicking on them.)
By L.A. “Tony” Kovach – for MHLivingNews.com.
Tony earned a journalism scholarship and earned numerous awards in history and in manufactured housing. For example, he earned the prestigious Lottinville Award in history from the University of Oklahoma, where he studied history and business management. He’s a managing member and co-founder of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com. This article reflects the LLC’s and/or the writer’s position, and may or may not reflect the views of sponsors or supporters.
Connect on LinkedIn: http://www.linkedin.com/in/latonykovach
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