Lucero: (July 08, 2010 4:57pm)

Today's TBWS was informational, entertaining and funny. Glad to see you guys have a sense of humor! Keep up the good work guys.

Loan Dr.: (July 08, 2010 3:23pm)

Hey guys, just watched the show and I was surprised by you attempt at humor by making fun of trailer park people. Hey there's something new!! Nothing like a cutting edge humor. Making jokes at the expense of others is wrong. Sterotyping is wrong. You're better than this.

dan: (July 08, 2010 12:47pm)

So just an observation...two self proclaimed rednecks from Fairfield, CA are sling'ng crap at people who by choice or not live in a manufactured home...I don't recall Fairfield being a mecca of sophistication and style either...but very good salt of the earth people we love and respect...have a great day in Florida guys!

Nuke 'em Until They Glow and Shoot them In the Dark: (July 08, 2010 12:23pm)

180k MH?! WTF! Do you Live in California?!...oh yeh you do. :-) In Redneckville you'd be lucky to get a $70k MD with Land. Since TBW was killed by the feds we avoid these like the Plague. Even USDA won't do Used MHs. In Rednectville better not waste time on them. In retirementville maybe. Just sayin'!

manhomewholesale: (July 08, 2010 10:39am)

Title 1 FHA loans are coming. Currently our company, CountryPlaceMortgage, ltd. has both a wholesale and retail department specializing in FHA title 2 and conforming conventional loans on Manufactured and modular housing. We've been in business since 1995 and are a ginnie and fannie approved seller/servicer. Our wholesale department is actually referred to as our "Community Lending Program" because it is geared toward community banks and credit unions while we will consider mortgage brokers with strong financials and good credit. Thanks, Bryan S Chamberlain National Marketing Representative CountryPlace Mortgage, LTD. 15303 Dallas Pkwy, Suite 900 Addison, TX 75001 cell 469-865-5064 [email protected]

Oregonrealtor: (July 08, 2010 8:55am)

Thanks for the information this morning, if true that would be great news for one of the most affordable and security conscious types of housing in our area. The video is funny, but as Realtor that sells a lot of manufactured homes in parks, there are two or three things people should know. Mobile home is from June of 1976 or older and FHA does finance those on land, so I am not thinking they will in a park. Manufactured homes are what they do finance in June of 1976 HUD started regulating them and since then they are built to the same standard as regular housing, when it comes to insulation and the systems in the house. They are built inside so for areas where the weather causes havoc in the building industry with proper drying, mold and such that does not happen for Manufactured houses. They are pretty sturdy because they need to go down the Road at 55 MPH. Chattel has nothing to do with singlewide vs double or triple as someone stated. There is financing but it difficult.

cpappraisal: (July 08, 2010 8:45am)

JUSTFRANK101-LOL....that is about how long ago I wrote mine also. I guess we are bugging them so much that they now have a template that they send back to us in response..

Artisan: (July 08, 2010 8:29am)

ZILLOW and LOANSIFTER Anyone have any experience or comments about using Loansifter to auto quote through Zillow. Looking for some feedback

tbwbrian: (July 08, 2010 8:24am)

If you've ever heard a joke about a trailer park (of which theres many) than please withhold judgment. Our show has always been about poking fun in a light hearted manner. Todays show is no different. In fact, if you listen, our message is... lending on mobile homes could be a great opportunity for our industry.

Owl Tree: (July 08, 2010 8:20am)

As soon as this FHA rule hits the books, I'm going to partner with Cullman liquidators and set the world on fire. http://www.youtube.com/watch?v=q-RLqLx1iYI

JUSTFRANK101: (July 08, 2010 8:18am)

Watch Out Free America Obama will have his way backed by Unions that once cared for the working class - - - keep your ear muffs on and the blinders in place suddenly your vote United States of America Citizen - - - Means Nothing

JUSTFRANK101: (July 08, 2010 8:12am)

FHA and Manufactured Homes attached by foundation to real property or parked and only Certified Appraisers may do FHA Loans... Good Luck with that - - - now I may start my day with a smile on my face laughing as the world again passes by totally screwed Up!!!

JUSTFRANK101: (July 08, 2010 8:00am)

Cold Cold Cold comments about Manufactured Homes. We were back East last Summer and there are more Mobile Home Parks there than I have ever seen on the West Coast though there are plenty. Who really cares these days about your living Class when you may be without a home trying to act like you are high class now have an REO home. Come on Guys take the insult back!

JUSTFRANK101: (July 08, 2010 7:53am)

HEY cpappraisal: (July 08, 2010 7:30am) - - - You must be linked to my email - - - I got a letter from that Broad that says exactly the same thing word for word - - - so nice to be singled out and treated special, sure glad I wrote to her three months ago!

GODLIKE: (July 08, 2010 7:43am)

Stereotypes are stereortypes for a reason. Tthey reflect the actuality of that group a very high percentage of the time. I grew up in trailers and you hit the nail on the head. The manufacturers would like you to believe otherwise but people only buy trailers because they can't get into a real home. It's not the living mode of choice. It's much better than living in the streets, but high class it ain't!

GODLIKE: (July 08, 2010 7:38am)

North Texas what? I'm in North Texas and never heard of them and there's no banner on your page as you showed in the video.

cpappraisal: (July 08, 2010 7:30am)

Last bit.... legislation, including the sunset of the HVCC guidelines. The bill was passed by the House of Representatives on June 30, 2010, and the Senate must now vote on it before it can be sent to the President for his signature. Once again, thank you for writing. If you have any additional questions or concerns, please do not hesitate to contact my Washington, D.C. office at (202) 224-3841. Best regards. Sincerely yours, Dianne Feinstein United States Senator

cpappraisal: (July 08, 2010 7:29am)

Here is more.... report complaints. The Senate-passed version of financial reform legislation, known as the "Restoring American Financial Stability Act of 2010" (S. 3217), did not include a similar appraisal title. The Senate bill as written would require a study of the Home Valuation Code of Conduct by the Government Accountability Office. During Senate consideration of this bill, Senator Robert P. Casey (D-PA) filed an amendment that would include nearly identical language to the House -passed appraiser title. However, this amendment did not receive a vote and was not included in the final version of the bill passed by the Senate. I understand that a number of appraisers throughout California have had concerns about the Home Valuation Code of Conduct. Like you, I believe that home appraisers should act fairly, honestly and independently when valuating homes. The conference committee tasked with resolving the differences between the House and Senate versions of this legislation issued a final bill on June 29, 2010. You may be interested to know that this bill retains much of the appraiser independence title of the House legis

cpappraisal: (July 08, 2010 7:27am)

If any one is interested here is Feinstein's response to my letter in regargs to the HVCC... Thank you for contacting me to express your support for legislation to improve the independence of real estate appraisers. I appreciate the time you took to write and apologize for the delay in my response. The House of Representatives passed its version of financial reform legislation (H.R. 4173) in December 2009. Included in the House-passed bill is a title that would sunset guidelines established by Fannie Mae and Freddie Mac, known as the Home Valuation Code of Conduct (HVCC). These guidelines would be replaced with new federal appraisal independence standards. Specifically, under this title appraisal management companies would be required to be licensed and regulated, all appraisals would be required to be performed by a state licensed or certified appraiser, written appraisals would be required on all subprime mortgages, and a hotline would be established for homebuyers to

azhomes: (July 08, 2010 7:22am)

WOW! Up until this morning I really enjoyed your show & recommended your site to everyone. What a cheap shot at those who CHOOSE to live in manufactured housing. How about a gated community, with golf, pools, rec centers, etc. at about 4 times less money than a "stick built" home - which, btw, the newer ones are better built than on site and look just like a typical house - so you have just offended a whole segment of the population.......but, let's look at it this way - who is smarter? The guy who pays a high price, high taxes and high maintenance - or the "trailer trash" (as you made it sound) that is living a resort lifestyle for a fraction of the money? Hmm...someone didn't do their homework today. Tacky and unprofessional

GaryP: (July 08, 2010 7:03am)

When I said a DW-MH is real property, I meant if its on owned dirt. A double wide in a lease park would not be. I have a developer now that is wanting to put in a development with "park model" MH's in a new beach community without selling the actual lots. I just had to tell him that the idea may seem like a good idea, but financing is just not there and I could nopt do chattel loans, especialy on what wold be considered a second home in most cases. I told him that he probably needed to work with a local bank that had an incentive to help local community development.

Lion: (July 08, 2010 7:01am)

It’s not that manufactured homes (MH) attract tornados; it’s that there are so many MH (25%+) that how can a tornado miss them. Sounding a little too elitist this morning, Brian & Frank. It’s called the FHA Title 1 loan program, and it was very popular, and essential to the MH industry that is dying since it is rarely offered by lenders, after the Big Mistake. Especially in leased parks where the home is owned, but the lot rented by the homeowner. Very big in Florida, and the Southeast. The government does not need to bail out the MH industry, it just needs to get lenders to provide Title 1 financing. Do some more homework before making fun and stereotyping an important segment of our housing industry that needs as much help as the conventional market does.

GaryP: (July 08, 2010 6:52am)

Allow me to clarify some things for you on Mobile lending. A double wide is considered real property and a single wide is chattel property. This is in the same category as 580 FICO loans. HUD may be all for it, but good luck finding a lender of investor for these loans. I know of at least a few lenders doing mobile homes, but they are portfolioing the paper because there is no secondary market for them. They are also only closing near perfect loans with high FICOs and lots of reserves. That is typically not the MH borrower. I believe that the majority of MH loans being closed are being done so by the in-house lenders of the MH dealers that obviously have an incentive to close these deals. No one seems eager to jump into the vacuum created by TBW when they shut down. Go figure!

timp: (July 08, 2010 6:51am)

I'd be psyched if FHA allowed financing on wobbly's. Where I am there's some decent properties on their own land (2-10 acres is common) and they're a pain to get financing. it's a catch-22...the reason most people look at double-wobbly's is because they're more affordable and buyers don't have much money, but in order to buy one, our portfolio lenders require 20%.

WVAppraiser: (July 08, 2010 6:38am)

How reliable of a story can it be when the author doesn't understand the terminology he/she is using. The term "Mobile Home" refers specifically to a factory built home that was built prior to 1976. I can't imagine that a quarter of all sales under $200k where these types of Mobile Homes. And even if they were, FHA will not loan on factory built homes from before 1976. What does the writer mean when he/she uses the "Mobile Home" label??? This would determine if the story is even relavent or not! P.S. - I'm from West Virginia, and unfortunately I was already celebrating with my cousin by the time you warned us not to! LOL

clyman: (July 08, 2010 6:15am)

is it too late for the red sales book? 3867 gaspar dallas, tx 75220

frankgaray: (July 08, 2010 6:10am)

We were having fun guys. making jokes. goofing off. keeping it light. kidding around. trying to crack a smile. tongue in cheek. making funnies. not taking ourselves seriously. stereotyping. Hope that clears it up.

TTinTx: (July 08, 2010 6:02am)

Ditto George! I live in a rural suburb of Dallas/FtWorth and we have lots of families that purchase land and place mobile homes on them. Don't get me wrong there's plenty of trailer trash around but most are hard working, tax paying, productive citizens. Still love you guys and the show!

Daggone: (July 08, 2010 5:56am)

Good point George. Mobile homes are a good alternative for many people. Back in the day wherever you parked it, on a rented spot, or you could attach it to your land, you needed down payment money. The company who sold it to you financed it or had financing and the interest rate was high. I agree, in my market very few lenders are lending on mobile homes, so it is not an issue. However, I have a problem with the fact FHA requires so little in equity, income, or credit going yet one stp further to no real estate required to get financing. FHA is a taxpaper program, when they don't have enough money to cover the losses, HELLO TAXPAYERS!

billienewell: (July 08, 2010 5:44am)

George is right, in Southwest Florida, I have appraised manufactured homes which just happen to be located on waterfront properties. Owner's remodel these homes and spend up to $150K doing it. We have lease parks that are gated golf course communities. Also some of the newer Palm Harbor or Jacobson models are built as good as a site built frame house. Laugh at manufactured all you want, the sterotype sure doesn't fit our area in SW Fla.

barbara: (July 08, 2010 5:18am)

Considering that most investors don't offer site attached manufactured home loans even though FHA allows it. . .what makes anybody think that it will be widely available if they are only chattel? And I expect the interest rate will cause us to fail all sorts of "high cost" and "high rate" tests. I'm just waiting for Obama to decide it would be only fair for us to all work for free. Didn't his Frankness say that he didn't care about anybody's profit margins anyway?

george: (July 08, 2010 4:31am)

Hey guys, those were some cheap shots Frank took on the mobile home dwellers. Its a socio-economic slur putting down the economically challenged, feels almost like a racial slur. You guys are too good to have to resort to that "grab your 14 year old cousin" crap. Btw, I do not live in a mobile home, and I have chased them all over the US of A, so I know first hand the environment. We need to remember they are human beings mostly trying to do the best they can. FYI, no saint here, I regret the times I have taken such shots and wish I had not. Oh well, back to work.

Marvin: (July 08, 2010 4:29am)

especially here in Orlando FL..LOL

MOLIVEAU: (July 08, 2010 3:32am)

I forgot free set of dentures with every qualified buyer($500.00)and breathing!!(LOL)

MOLIVEAU: (July 08, 2010 3:21am)

I say Warren Buffet, Since he owns several mortgage companies and significant stock holdings in very large other players(piggly wiggly's) We call them in the South. i.e.Wells,Goldman,Chase....He can't even pool and sell his own paper.Oh! current par yield 9.45% APR!!If your surprised at this revelation than look at the destruction of the middle class in all our industry. Oh! Trailers do come fully furnished with furniture and decor. Sorry Rooms To Go! Sincerely, Mr. Buffet has vertically intergrated and has roughly 80+% market (control) not SHARE. Well Done! Hud send my check to the Oracle of Omaha!!! Please authorized parties only.THE AMERICAN TAXPAYER !!That would the the fading blue collar guy! Kharma Watch Out

billienewell: (July 08, 2010 3:03am)

Appraisers would have fun with that. I did my training some years ago with an Appraiser who specialized in leased parks. With no public records, it is an interesting job.