Understanding the Fannie Mae MH Select™ Initiative
An Interactive Audio Conference for
Manufactured Home Retailers and Builder/Developers

        Wednesday, May 21, 2008
         2:00-3:15 p.m. [Eastern]
       1:00-2:15 p.m. [Central]
       12:00-1:15 p.m. [Mountain]
       11:00 a.m. –12:15 p.m. [Pacific]

Presented by: 

Limited to the first 120 registrants!

What is the Fannie Mae MH Select™ Initiative?

As a result of a collaborative effort with MHI, Fannie Mae recently launched its MH Select™ Initiative to provide comparable site-built financing to manufactured homes classified as real estate that meet certain aesthetic and on-site completion criteria. The Initiative will allow these manufactured homes to compete with comparable site-built homes in terms of appearance, appreciation, and market acceptance, while offering more favorable underwriting and loan terms to consumers. Participating manufacturers will provide an extended warranty on MH Select™ homes and arrange for post-installation inspections of the homes. The MH Select™ Initiative only applies to land/home mortgages.

This interactive audio conference will cover several topics, including:

• An overview of the program

• Qualifying home criteria
• Loan terms, underwriting and appraisal requirements
• Manufacturer and retailer responsibilities for participation
• How to participate
• Identifying participating manufacturers and lenders

About the Speakers:

Tamara King is a Senior Business Manager for Manufactured Housing in Fannie Mae’s Single-Family Mortgage Business. In this role, Ms. King is responsible for developing and managing new initiatives and products, and developing business and strategic relationships with manufactured-housing participants. Ms. King has more than 14 years experience in mortgage finance, community development, and state and local governments. King has had several functional responsibilities since joining Fannie Mae in 2002. Before joining Fannie Mae, she worked in the Community Development Department of HSBC Bank in New York.

Paula Reeves is President of CIS Financial Services, a major manufactured housing mortgage and chattel lender in Hamilton, AL. She was instrumental in the start-up of CIS Financial in 1991 and was responsible for getting it licensed to conduct business in 22 states. CIS is an approved Fannie Mae, Freddie Mac and FHA lender. CIS is also an approved lender for the Fannie Mae MH Select™ Initiative. CIS Financial Services was recognized as the 2007 MHI Regional Lender of the Year. Ms. Reeves currently serves as Chair of the MHI Home Finance Task Force and the MHI Lender Best Practices Program™ Steering Committee.

Moderated By:

Tom Beers, MHI’s Chief Economist and Vice President of Housing Finance

Once you have registered, you will receive one toll-free telephone connection. You can also use a speakerphone and invite as many listeners as your room can hold. You will be able to ask the speakers questions, very similar to the way a radio talk show works. Complete program information and written materials prepared by the speakers will be forwarded to you several days before the program via email. You may make additional copies for each person listening.

Registration Fee: $0, however the program is limited to the first 120 registrants

All participants must be a retailer or builder/developer member of MHI or their state manufactured housing association. Also, you must register online and have a valid email address since all communications will be handled electronically. There will be a separate webinar for lenders conducted with the Mortgage Bankers Association on June 19, so lenders should not attempt to register for this audio conference.

Cancellations
MHI is making this audio conference available free of charge as a member service. Since participation is limited to the first 120 registrants, please contact us if you register and then cannot participate so someone on the waiting list may participate. Email cancellations to Megan O’Kane at mokane@mfghome.org.

Click here to register online