FHFA Seeks Input on Chattel Loans for Manufactured Housing
January 27, 2017
The Federal Housing Finance Agency is taking steps to explore financing personal property loans for manufactured housing and is seeking input on initiating a pilot program. Manufactured housing advocates have been pushing for greater support from Fannie Mae and Freddie Mac, especially in the form of establishing a secondary market for chattel lending, in which the home is not permanently affixed to the real estate and titled as personal property. The Manufactured Housing Institute has been in talks for some time with the GSEs and FHFA, making the case that chattel loan performance demonstrates that the GSEs can purchase chattel lending safely and profitably.