2011 I M HOME Retreat Knoxville, TN

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1 2011 I M HOME Retreat Knoxville, TN

2 2011 I M HOME Retreat Knoxville, TN

3 I M HOME Policy Strategy Federal Policy Strategy 1. Challenge: No new appropriations Response: Defense versus offense 2. Challenge: Programs being cut Response: Incorporating MH into existing federal programs Response: Tax credit proposal and tax code changes 3. Challenge: Congressional gridlock Response: Agency regulatory efforts

4 I M HOME Policy Strategy State and Local Policy Strategy State and local policy very important Great partnerships with NCLC & MHOAA Providing research and tools to the network Looking to deepen engagement

5 I M HOME Policy Strategy Strategic Planning Process More detailed 2012 planning in next three months

6 2011 I M HOME Retreat Knoxville, TN

7 STATE POLICY DEVELOPMENTS 2011 Carolyn Carter National Consumer Law Center 2011 CFED Retreat Knoxville

8 Fundamental Freedoms for Residents Freedom of association and freedom of speech Freedom from retaliation Good cause eviction Right to sell home in place

9 States that Protect Fundamental Freedoms

10 Highlights 2011 Idaho: added right of peaceful assembly and free association, and right to invite public officials and candidates to meetings

11 Maryland: strengthened anti-retaliation law Resident can defend eviction or sue Protects resident who testifies or participates in lawsuit against park owner Protects resident who participates in (not just joins or forms) resident association But... forbids retaliation for complaints regarding conditions only if involved substantial threat to health or safety

12 Resident Purchase Opportunity Laws Right of first refusal Notice and good faith negotiation Notice only Tax incentive

13 2011 Purchase Opportunity Developments Florida: improved purchase opportunity law Notice and 45 days to meet owner s stated price when park is closing due to change of use Idaho: new purchase opportunity law Notice to resident association if park listed with real estate broker and resident association has notified owner of its interest

14 2006

15 2008

16 2010

17 2011

18 In addition... Washington: resident entitled to written rent receipt Illinois: study of relocation problems tax relief for residents in disaster areas Nevada: increased relocation expense payment Oregon: improvements in water submetering and conversion to condos

19 Challenges ahead... Fundamental freedoms Most states have room for improvement Some states have no protections! Good cause eviction weak in many states Other reforms difficult without these protections Titling as real estate Possibility of major progress once ULC acts Ongoing resident concerns about rent, relocation Important issues Need to take care in crafting solutions

20 Consider First Steps to Purchase Opportunity Bare-bones 3-sentence amendment Tax incentive State agency fund or assist purchase Purchase opportunity if park is in foreclosure Notice of proposed zoning change Expression of policy, study commission

21 Your Role Advocate, negotiate Share your expertise what works, what doesn t dispel mistaken claims Encourage and support resident involvement Bring allies together

22 How NCLC Can Help Review policy options, strategy with you or allies Assess constitutional issues Draft policy language Write up policy justifications, 2-pagers, testimony On-the-spot consultations

23 Policy Tools Policy Guides Communications materials State legislative tracking Available at and

24 2011 I M HOME Retreat Knoxville, TN

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26 Overview Replacement of pre-1976 mobile homes Tax credit for community owners who sell to ROCs Improving single-family finance options Enhancing consumer protections for owners of manufactured homes Opportunities for public education

27 Replacing outdated mobile homes with ENERGY STAR homes: Stephanie Tubbs Jones Assets for Independence Reauthorization Act of 2011 (H.R. 1623, pending Senate) Matched savings: up to $4 for every $1 with maximum of $10,000 family/$5,000 individual Expand the definition of qualified expenses for homeownership to include home repair and replacement of substandard homes including replacement of pre 1976 mobile homes

28 Manufactured Housing Community Credit, IRC Section 45R What amount for the credit? Definition of eligible buyers (owner/residents) Minimum purchase agreement by residents? 50% Process: application, qualification, limited? Recapture requirements

29 Single Family Finance: I M HOME Policy Goals Establish streamlined minimum standards across multiple federal agencies Include MH in government purchase, securitization, reinsurance programs Promote community financing Federal support for replacement of pre-76 homes

30 Single Family Finance: Policy Opportunities MH included in new regs on Qualified Residential Mortgages and Qualified Mortgages Potential Impacts MH can qualify for the safest form of home loan if it is secured by conventional mortgage OR if it is in lease-hold with long-term land tenure MH included in new ability-to-repay rules 20% down payment required to get the safest, most affordable loan

31 Single Family Finance: Policy Opportunities GSE Reform Administration proposal would effect how Fannie Mae, Freddie Mac, FHA deal with MH Wind down Fannie and Freddie gradually Replace with private, highly regulated firms, similar to public utilities GOP legislation to eliminate Fannie and Freddie Wind down immediately, no public institution would replace them Uncertain long-term impact on availability of financing

32 Consumer Protections: I M HOME Policy Goals Ensure MH owners have same rights and protections as other homeowners Ensure unique needs of homes in communities are taken into account Improve quantity and quality of federal data on loans secured by MH (both mortgages and personal property loans) Implement effective supervision of MH lenders

33 Consumer Protections: Policy Opportunities Disclosures CFED, NCLC, partners requested new disclosures to inform buyers whether their loan is mortgage or personal property Anti-steering regulations CFPB drafting rules to prohibit loan steering, CFED requested ban on steering into personal property loans when alternatives available CFPB supervision of larger non-bank lenders in certain markets

34 Opportunities for Public Education Working with the Administration Qualified Residential Mortgages Regulation Z Nonbank Supervision Duty to Serve Military families and communities

35 Opportunities for Public Education Working with Congress Hearings on MH, housing finance reform AFI Reauthorization Energy Star replacement legislation Request for GAO study on savings to LIHEAP if replacement is allowed Tax credit for investors selling to ROCs IRC

36 CFED Resources CFED Comment Letters In-depth analysis of regulatory proposals I M HOME Initiative Resource guides; network of practitioners; latest MH news Carol Wayman, Director of Federal Policy cwayman@cfed.org Katherine Lucas-Smith, Federal Policy Analyst klucas-smith@cfed.org