Transcript TRANSFORMING THE MANUFACTURED HOUSING MARKET

Manufactured Housing
Where is it?
States with the most manufactured housing
Florida
Texas
North Carolina
California
Georgia
South Carolina
Alabama
Tennessee
Michigan
Arizona
653,721
606,424
494,555
473,193
342,649
306,312
269,000
235,666
228,306
219,350
www.cfed.org
202.408.9788
Manufactured Housing
Where is it?
States with the highest percentage of manufactured housing
South Carolina
New Mexico
West Virginia
Mississippi
North Carolina
Alabama
Wyoming
Montana
Arkansas
Kentucky
20%
18.2%
16.6%
16.1%
15.8%
15.5%
15.3%
14.4%
14.2%
13.3%
www.cfed.org
202.408.9788
Manufactured Housing
Manufactured Housing
+ Titled as Personal Property
+ Located on Leased Land
+ Less than Ideal Financing=
______________________________
Limited Financial Security
and Wealth Building Ability
www.cfed.org
202.408.9788
Manufactured Housing
Manufactured Housing
+ Titled as Real Estate
+ ROC (CLT, etc.) or Fee Simple
+ Real Estate Mortgage or
Good Personal Property Financing=
______________________________
Financial Security
and Wealth Building Ability
www.cfed.org
202.408.9788
Manufactured Housing
Challenges
Manufactured Housing Titling
Personal Property
Real Estate
www.cfed.org
202.408.9788
Manufactured Housing
Challenges
Financing Challenges
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Less than ideal financing terms
Limited consumer protections
No mortgage interest deduction
Limited asset building capability
Limited refinancing market
Appraisal problems
www.cfed.org
202.408.9788
Manufactured Housing
Challenges
Limited Security of Tenure
www.cfed.org
202.408.9788
The I’M HOME Strategy
New &
Replacement
Development
Community
Preservation &
Improvement
Mortgage Financing
Public Policy
www.cfed.org
202.408.9788
Manufactured Housing
The I’M HOME
Response
New &
Replacement
Development
www.cfed.org
202.408.9788
Manufactured Housing
The I’M HOME
Response
New &
Replacement
Development
www.cfed.org
202.408.9788
Manufactured Housing
The I’M HOME
Response
Community
Preservation &
Improvement
www.cfed.org
202.408.9788
Manufactured Housing
The I’M HOME
Response
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US Bank Pilot Programs
Loan Data Collection Process
Credit Union Loan Products
Working with the GSEs
Defending threatened public
funding sources like 502D
• Building relationships with
Mortgage Financing HFAs and other lenders
www.cfed.org
202.408.9788
Manufactured Housing
The I’M HOME
Response
• Federal legislation
• Federal regulations
• State and local regulations
Public Policy
www.cfed.org
202.408.9788
Manufactured Housing
The I’M HOME
Response
Mission:
Ensure that homeowners receive equal
treatment and benefits of homeownership
– regardless of whether their home was
built on-site or in a factory.
www.cfed.org
202.408.9788
Thank You!
www.cfed.org
http://cfed.org/programs/manufactured_housing_initiative
www.cfed.org
202.408.9788