Volume Buyers

Keeping you informed and updated!

MHI Welcomes New President/CEO

February 16th, 2012 was the day that MHI (Manufactured Housing Industry) welcomed their New President/CEO, Richard A. Jennison.  Jennison is coming from Omni Solutions Group and he was the partner and Senior Vice President for Marketing and Business Development.

Jennison comes from a background that includes a variety of industry experience.  He has worked as the President and CEO of the Brick Industry Association (BIA), and Chief Operating Officer at the Point-of-Purchase Advertising International (POPAI).

Jennison is happy to become apart of the MHI family and has recently mentioned, “It is a tremendous privilege to join MHI and I am honored to be selected for this great opportunity.  I am excited to work with the MHI leadership, members and staff to represent this important sector of the housing industry in Washington D.C.  Together I believe we can accomplish the mission and goals of MHI to advance the industry, improve the regulatory and finance environment, promote the high quality and great value inherent in our homes and build consensus among industry partners.”

Jennison will be responsible for the management of the association in accordance with the bylaws, budget and policies established by the MHI Board of Directors.  He will also be overseeing the staff in the areas of government codes and standards, communications, marketing, membership development, meetings, education and administration.

Welcome Richard Jennison!

February 27, 2012 Posted by | General Information | Leave a comment

Recap of a Recent Home Show

We were recently in attendance at home show in Augusta, Maine on February 3 – 5th, 2012.  The home show had seven homes and five homes belonged to VBI group members.  The homes that were at the show included three from Pine View Homes, two from Titan homes and one home from Commodore Homes.

Showcase Homes had a Champion Home from the Claysburg, PA  facility and Fairlane Homes had a New Era modular, complete with attached garage!

Attendance was up 30% from 2011 which is quite exciting for our industry.  The overall quality of potential customers was quite impressive as well.

Hooray for 2012!

February 16, 2012 Posted by | Events | , , , , , , , , | Leave a comment

Manufactured Housing Finance Relief Legislation Unveiled

This post is from an email via The Manufactured Home Industry.  This email is so important that I decided to post it word-for-word because it is quite important to our industry and could have not said it better myself.  *Note it is quite a lengthy post but important.

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(Arlington, VA – February 1, 2012) – “During a hearing of the Financial Services Subcommittee on Insurance, Housing and Community Opportunity evaluating the effectiveness to which the Department of Housing and Urban Development (HUD) has implemented key provisions of the Manufactured Housing Improvement Act of 2000, Rep. Gary Miller (R-CA) formally unveiled legislation (H.R. 3849) to reduce regulatory burdens impeding access to affordable manufactured housing financing”.

“In detailing challenges facing the manufactured housing industry, Congressman Miller cited a number of difficulties the industry has suffered over the past decade, including: a decline in new manufactured home construction of roughly 80 percent; the closure of more than 160 plants; and the loss of over 200,000 jobs.  He specified that “Congress must address the problems with regulatory overreach that impedes the ability of consumers to obtain mortgage financing for manufactured homes.”

The bill (titled the Preserving Access to Manufactured Housing Act) was developed on a bipartisan basis by Reps. Joe Donnelly (D-IN), Stephen Fincher (R-TN) and Gary Miller, in consultation with the Manufactured Housing Institute (MHI), to address two significant issues impacting the manufactured housing industry:

  • Reducing the threshold by which small balance manufactured home personal property loans are considered High-Cost Mortgage Loans under provisions within the Dodd-Frank Wall Street Reform and Consumer Protection Act (P.L. 111-203) and thereby subject to punitive and onerous liabilities.
  • Clarifying that those selling manufactured homes—who are not fundamentally engaged in the business of mortgage origination —are not to be considered mortgage originators under the federal SAFE Act and thereby better able to provide adequate technical assistance to consumers throughout the manufactured home buying process—similar to the SAFE Act treatment of real estate brokers.

Upon introduction of the legislation, MHI Chairman and Cavco Industries Chairman and CEO Joe Stegmayer stated “we are truly grateful for the dedicated leadership and work of Representatives Joe Donnelly, Stephen Fincher and Gary Miller on this very important issue.  Serving the financing needs of the manufactured housing market has always been a unique challenge.   It has grown more challenging by the establishment of new federal guidelines that do not adequately account for the complexities and realities facing the industry and consumers alike. The legislation is an essential step in preserving the affordability advantage of manufactured housing and protecting the equity that 19 million existing manufactured home residents have built in their homes.”

During the hearing, several members of the subcommittee reaffirmed the important role manufactured housing plays as an affordable, high quality housing source and the need for improved access to financing, including Rep. Robert Hurt (R-VA) who stated that the manufactured housing industry has been “hindered by a lack of financing availability.”  Rep. Sean Duffy (R-WI) highlighted the valuable role manufactured housing plays as an “important source of affordable housing” that is “threatened by a lack of financing options.”

In his testimony, Cavco Industries Director of Engineering Manuel Santana, P.E. – testifying on behalf of MHI – reinforced these points and stated that “the single most important issue impacting the manufactured housing market remains the availability of accessible and affordable financing for those seeking to purchase manufactured housing.”  Mr. Santana added that “lack of a viable secondary market for manufactured home loans coupled with growing regulatory burdens threaten to further constrict the limited financing options that currently exist within the manufactured housing market.”

MHI will continue to work on a bipartisan basis to educate Members of Congress and develop solutions to the financing crisis within the manufactured housing market.  For a copy of the legislation, click here.  A description of the bill’s impact on SAFE Act and the Dodd-Frank Act is available here.

MHI is the preeminent national trade association for the manufactured and modular housing industries, representing all segments of the industry before Congress and the Federal government. From its Washington, D.C. area headquarters, MHI actively works to promote fair laws and regulation that will help provide quality, affordable housing for homebuyers. For more information on MHI, visit www.manufacturedhousing.org.

February 10, 2012 Posted by | Legislation | , , , , , | Leave a comment