George Allen / EducateMHC Blog Mobile Home & Land Lease Community Advocate & Expert

December 16, 2016

FHFA = DTS Rules for GSEs; Bold Suggestion; 17 January Opportunities, & More!

Filed under: Uncategorized — George Allen @ 7:14 am

Blog # 425 Copyright 2016 COBA7 @ 18 December 2016;

Perspective. ‘Land-lease communities, previously manufactured home communities, & ‘mobile home parks’, comprise the real estate component of manufactured housing.’

This blog posting is the sole national advocacy voice, official ombudsman & historian, research report & online communication media for North American LLCommunities.’

To input this blog &/or affiliate with Community Owners (7 Part) Business Alliance, a.k.a. COBA7, use Official MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764

COBA7 Motto: ‘U Support US & WE Serve U!’ Goal of its’ print/online media = to ‘Not only inform & opine, but to transform & improve MHBusiness model performance!’


INTRODUCTION: Today’s blog content?

Exciting NEWS about FHFA, DTS, & GSEs!

Then a bold & smart SUGGESTION for large LLCommunity portfolio owners/operators.

At least five EVENTS to make this year’s Louisville MHShow ‘the best ever’ for YOU!

A minor correction to COBA7’s Official MHShipment ‘#s & $’ Report for October 2016.


FHFA Finalizes Duty to Serve (‘DTS’) Rule

(to provide DTS credit, to Fannie Mae & Freddie Mac, for purchasing chattel capital manufactured housing loans!)

Here’s how the three manufactured housing industry and land-lease community national advocates responded to this historic, and what was intended to be & is, encouraging news:

• “GSEs Will Receive Duty to Serve Credit for Manufactured Housing Chattel Loans” Press Release from the Manufactured Housing Institute (‘MHI’)

• “FHFA Final Duty to Serve Rule Continues to Fail Chattel Borrowers” Press Release from the Manufactured Housing Association for Regulatory Reform (‘MHARR’)

• Federal Housing Finance Agency (‘FHFA’) Issues Guidelines; Government Sponsored Enterprises (‘GSEs’) Fannie Mae & Freddie Mac to Now ID Nuts & Bolts to Make the Program Work!” Press Release from the Community Owners (7 Part) Business Alliance (‘COBA7’)

There’s certainly more to this story than just these salient headlines. Indication of ‘more work to be done’, comes from MHI chairman Tim Williams, president of 21st Mortgage Corporation, when he states, in MHI’s press release, “I am pleased FHFA is including chattel loans in the DTS framework, in order to encourage Fannie Mae & Freddie Mac to open a wider range of opportunities for aspiring manufactured (home) owners. The bottom line: done right, this could make becoming a manufactured home owner more affordable.” (Lightly edited. GFA)

But just how far is this DTS Rule from being ‘shovel ready’ – as a soon to be erstwhile president described federal projects with high expectations but low practicality? At this point we simply don’ t know…

According to MHARR’s press release, The final rule, “…will leave a significant majority of manufactured home purchasers – as they are now – a captive market for the higher-cost loans offered by the finance affiliates of industry’s largest corporate conglomerates. The final DTS rule…offers far less than meets the eye, and should now be addressed and rectified by Congress.” And if that doesn’t arouse your curiosity, this will: “…the final rule represents a ‘bait – and -switch’ scenario. It lists chattel loan support as a permitted activity, but then specifically enables the GSEs to avoid that activity entirely if they wish.” Whoa! Let’s hope ‘that’ does not happen, again.

Where to go from here? Well, fortunately for land-lease community owners/operators, COBA7 has served as a sounding board of sorts, for the FHFA, during 2016. And already they’ve reached out to talk about this matter. So, continue to be updated as to progress, here, and in the Allen Letter professional journal, and the Allen CONFIDENTIAL! And remember, The Journal is no longer being published. But know, MHARR & MHI have been offered white space in the monthly Allen Letter for their views on this and other MHIndustry topics. Will they avail themselves of this public and trade media outlet? Guess we’ll have to wait and see….

In the meantime, and this is a very short fuse opportunity: If YOU want to participate in the FHFA Shareholder Webinar, on Monday, 19 December, at 2PM ET, you need to go, right now, to and register! COBA7 affiliates have been informed of this rare and important opportunity to be on the cutting edge of emerging manufactured housing industry finance policy and procedure!

Furthermore, if not already receiving and reading the Allen Letter professional journal each month, do so by contacting COBA7 via the MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764 & affiliate at the Option I level ($134.95/12 months). Also know, the 28th annual ALLEN REPORT, a.k.a. ‘Who’s Who Among Land-lease Community Portfolio Owner/operators Throughout North America!’, will be enclosed with the January 2017 issue of the Allen Letter going to Option II (%44.95/12 months) & III affiliates.


A Bold Suggestion for Property Portfolio Executives

Let’s begin with what comes across as a MHIndustry trivia question; but in reality, is an indicator of a liaison that worked well ‘for decades several decades ago’, but is a near lost art today. The question:

Ever heard the name of Jim Boyts?

Hmm, let’s see. He was inducted into the prestigious RV/MH Heritage Foundation’s Hall of Fame in 2010, several years after he died. How ’bout Skyine Homes? Sure, you should know that firm well, it’s one of our industry’s venerable pioneers. Think industry icons Art Decio & Terry Decio; and now, Richard Florea.

OK, so what’s the big deal about Jim Boyts and Skyline Homes?

Throughout the 1960s, 70s, 80s, & into the 90s, Jim was the firm’s liaison to more than 30 states. His actual title was Director of Marketing Services. Skyline was a member of every state MH association where the company had active business interests. And they purposed to have Jim Boyts as the firm’s representative to every one of those state MH associations. He was, in effect, the manufactured housing industry’s ‘interstate statesman’ until he retired. Why wasn’t the practice continued? Stop and think of the dates, the dawn of the 21st Century, and all the turmoil and ‘economic downturn’ that came with it.

On a personal note, I knew Jim Boyts well. He was, at times, a mentor, devil’s advocate, supporter, and advisor. In my opinion, there hasn’t been anyone like him since he retired. But even then, he stayed in touch, reading my columns in The Journal, the Manufactured Home Merchandiser magazine, even the Allen Letter professional journal.

Point to this recitation? I think it’d serve property (i.e. land-lease community) portfolio owners/operators, and many state MH associations, well, if they, in early 2017, designated one business savvy executive to be their active liaison with said trade bodies wherever the firm has business interests.

Why? Well, as a ‘player’, i.e. association board member, they are a team member, maybe even leader; and no longer viewed as an outlier by other corporate members of said association. Plus, by being active in other state MH associations, they enable cross-pollination of ideas and concerns among states. And the list goes on…

So, at least the 20 largest property portfolio firms should seriously consider this suggestion, as we go into year 2017.


Where Will You be on 17, 18, 19, 20 January 2017?

17 January @ 7AM – 4PM. Manufactured Housing Manager (‘MHM’) professional property management training & certification program at the Crowne Plaza Hotel on Phillips Lane in Louisville, KY. Only $250.00/MHM candidate. No testing. Taught by Katie Hauck, MHM, & Kathy Taylor, MHM. Call (317) 346-7156

17 January @ 9AM-Noon. Special Presentation for HUD-Code home manufacturers. Two foci: ‘How to ID land-lease communities, owners, operators, in all four property categories’; &, Open Discussion of How to Best Sell New Homes to LLCommunities.
Facilitated by George Allen, CPM & MHM. Only $95/registrant. Call (317) 346-7156

17 January @ 1PM-4PM. Lease-option Methodology for Land-lease Community Owners/operators Selling & Seller-financing New HUD-Code Homes On-site! Cost? Only $95.00/registrant. Contact

18 & 19 January. Louisville MHShow at State Fairgrounds: Google Louisville MHShow to get more information and to register in advance. Start off the ‘MHShow experience’ by attending the 8-9AM panel, ‘How to Buy New Homes at the Louisville MHShow!’ The info shared here could save you $ and make this the best MHShow ever for you….

20 January, 9AM. Presentation & Open Discussion of New HUD-Code Home Installation & Foundations in Frost-susceptible Climates. If you’re confused about this timely and complicated topic, you owe it to yourself to be present! Led by Frank Bowman, executive director of the Illinois Manufactured Housing Association. No cost to this opportunity.


COBA7 MHShipment ‘#s & $’ @ October 2016

Oops! One minor mistake to the subject document. Geesh! I hate when that happens. No excuses – though it’d be nice to be a large enough firm to employ a fact checker to help.

The error? Using Dr. Stephen C. Cooke’s ‘production value’ formula, the 7,154 new HUD-Code homes shipped during October 2016, are valued at $308,523,404. And the 67,043 new HUD-Code homes shipped YTD are ‘production valued’ @ $2,881,000,000.
All the rest of the reported data is correct. Look to see the official COBA7 MHShipment Report to be part of January’s issue of the Allen CONFIDENTIAL! business newsletter.

Again, if not already affiliated with COBA7, one of three national advocacy entities serving land-lease communities and the manufactured housing industry, simply phone the Official MHIndustry HOTLINE: (877)MFD-HSNG or 633-4764. The longer you wait to do so, the longer it’ll be before you’re tapped into the best source of statistics and information available to everyone in the MHBusiness.

Remember, the 28th ALLEN REPORT will be enclosed in the January 2017 issue of the Allen Letter professional journal, at the Option II or III level of affiliation.


George Allen, CPM & MHM

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