Manufactured Housing Law Update
Manufactured Housing Law Update – January 2017Read Time: 1 min
It is 2017 and there are important things to note.
First, the FHFA extended its comment period on potential manufactured home chattel loan pilot initiatives in the Duty to Serve Program until March 21.
In addition, Missouri introduced legislation that, if enacted, will eliminate the in‐state office requirement imposed on lenders that primarily lend on manufactured homes and modular homes. We will track that legislation and keep you updated through the year.
California has proposed a new fair housing rule to which community operators should pay attention.
Also note, a bankruptcy court in Kentucky determined that the cost of set‐up and delivery was not included in the manufactured home’s replacement value.
Finally, servicers should take comfort that a RESPA violation will not result in liability for ending a marriage.
McGlinchey Stafford is pleased to bring you the Manufactured Housing Law Update, prepared by the firm’s nationally recognized consumer financial services team. For decades, McGlinchey Stafford has been a leader in the manufactured housing and mortgage lending industries, representing clients in the areas of federal and state law compliance, preemption analysis and advice, nationwide document preparation, licensing support, due diligence, federal and state examination and enforcement action defense, individual and class action litigation defense, and white collar criminal defense.