Manufactured Housing Law Update
Manufactured Housing Law Update – April 2017Read Time: 1 min
McGlinchey Stafford and the Manufactured Housing Institute (MHI) is pleased to bring you the Manufactured Housing Law Update. With content prepared by McGlinchey Stafford’s nationally-recognized consumer financial services team, the Update focuses on legal and regulatory actions in the manufactured housing industry.
April brought us the Tax Man and the Easter Bunny, but also some scintillating developments in the manufactured housing legal landscape. For instance, did you know that selling meth no longer is defined as a crime substantially related to manufactured housing installation in Delaware? This is progress, people!
On a more serious note, the April edition of the Update contains numerous new laws pertaining to manufacturer housing
dealers. Indiana in particular has been active in this space. In Idaho, check out the Notices to Promulgate New Rules. If you do business in Idaho, you may want to watch how these rules develop. If you do business in New York, the state is transitioning its Exempt Mortgage Banker License-MH to NMLS, and you won’t want to miss that.
In April, courts were relatively quiet in addressing manufactured housing issues, but the bankruptcy courts continued to employ a lender’s least favorite technique, the cramdown. That’s not to say that every manufactured home depreciates. In fact, one case addressed the appreciation of a manufactured home. Until May, good reader!