I hope someone who attended the GAMHA symposium this last week will share what they learned about the Safe Act and how it will be enforced on MHP owners. I just finished getting my Manufactured Home Dealer License in NC. What the heck I might as well become a mortgage originator / broker also. I feel the regulation noose getting tighter around my neck.
Here is what I was told already via another correspondence
#1 = It is a Federal Law that passed last year 2008
All states must comply (some have not as yet, including Georgia)
Applies only to residential real estate transactions (not commercial)
North Carolina recently passed House Bill 1523 which provides a special exemption for mfg housing retailers. It basically says that if you are a community operator and you are using a lender to provide the financing for a mobile home purchase, the lender can send you an email that allows you to take an application and run a credit report for them. I