GAMHA Symposium

Does anyone have pricing information from the manufactures that attended the GA meeting last week? I would love to see some posting on the Safe Act and Home Pricing. .


I definitely plan on giving some definite feedback on the GMHA symposium. Overall, it was good in some areas and not so good in others.

I’m working with the GMHA director on the SAFE Act. It is due to hit the legislature in Georgia in January through the State Banking Commission. The bottom line on this bill is that it is directed to “mortgage” lenders. The term “mortgage” by definition is a loan on a piece of real estate not a loan on personal property.

Real estate is handled much differently in this State than personal property, which mobiles are considered inside a manufactured home community. This is true with most states. With this being said, most non real estate investors don’t understand the difference and unfortunately most politicians don’t either.

More to come on this…by the way, the presenter stated that North Carolina had already passed their version of this bill and manufactured retailers were exempt from the SAFE Act.

It’s been a long week and I’m traveling next week for Christmas. I’ll get something up when I return on the whole meeting which will include synopsis of the lenders, pictures and pricing of the homes and various national items discussed.

Have a great Christmas.


I posted this information that was provided to me by the NCMHA


In response to the meltdown in the mortgage industry, Congress passed the Secure

and Fair Enforcement for Mortgage Licensing Act of


Your post shows the exclusion of a mobile home salesperson passing a customer along to a mortgage broker. It does not say anything about a loan originator of mobile home loans being exempted.

Everyone will have to read their state law on the SAFE act. Ohio requires originators of loans on any residence, specifically INCLUDING manufactured housing with or without land (Lonnie Dealers) to comply and be licensed under the law.


The Safe Act is still very unclear to me as to application in NC. I was told today by the director of the NCMHA that he thinks the rent to own and lease to own contracts will be ok. He has spent a lot of time on the issue with the state goverment, but I think I will continue to research. My contracts do state interest rates and terms. I am just not sure about the situation yet.

The Ohio Manufactured Housing Association is also trying to get the Ohio Dept of Commerce to approve an exemption for a standard “lease to own” contract for park operators who sell their own homes.

Lonnie Dealers could piggy back on this exemption if they didn’t want to get licensed next year.