by L. A. 'Tony' Kovach
In an exclusive video interview that could help reframe the discussions about MH Lending in Washington, DC - as well as with consumer advocacy groups nationally – Triad Financial Services Chairman and CEO, Don Glisson Jr. shared with MHProNews the following exclusive video interview.
Don Glisson Jr. addresses the following hot-button topics:
The interest rates charged on MH Loans - and the often overlooked facts which explain why they are fair and competitive.
Why CFPB and other federal rules are negatively impacting consumers and thus the retailers, communities and other MH operations that serve them.
Why the CFPB's LO Comp rule is harming consumers and needs to be changed.
Why there is some rate spread between MH loans and conventional housing mortgages, among other topics of wide interest.
This video report brings to light in clear terms facts useful with and for:
> consumer groups, such as NMHOA, CFED or others,
> the media, in their reporting or commentary on the MH Personal Property (aka home only, chattel) Lending issue - (as you watch this, think how different the PBS NewsHour or Seattle Times reports might be in the light of these facts),
> elected officials and their staffs, as they consider S 682/HR 650 Passage (Preserving Access to Manufactured Housing Act),
> CFPB in revising their LO Comp Rule,
> GSEs, FHFA,
> other lending regulators, quality affordable housing policy advocates or MH focused interested parties...
can all grasp. The result could be greater reality-based consensus in finding the solutions.
As CNBC's Diana Olick stated, people don't buy housing price or rates per se, instead they buy based upon monthly payments. The two charts below reflect the fact that
Manufactured Home loans may have a higher rate, for reasons that Don Glisson Jr. explains,
but they still have the lowest monthly payment of any form of permanent housing.
For the full context of these finance-focused interviews, we're providing the two prior episodes of this video, below.
Part 2 of this in depth video interview with Don Glisson Jr on MH lending topics for industry professionals, is below.
Part 1 of this Inside MH video interview with Triad Financial Service's Chairman and CEO, from a lender that closed some $400 million dollars in business in 2015.
Programming Note: Please watch for the fourth and final installment in this Inside MH video on manufactured home lending with Don Glisson Jr. in the weeks ahead. ##