Legal Seminar, Denver, CO

Provisions Relating to Manufactured Housing-Related Exemptions from State SAFE Acts

Alabama: Language clarifies that the law shall apply to activities of retail sellers of manufactured or modular homes to the extent determined by HUD through written guidelines, letters, etc. Arizona: Exempts a manufactured home retailer and its employees if performing only clerical or support duties in connection with the sale or lease of a manufactured home and the retailer and its employees receive no compensation or other gain from a mortgage banker or broker for the performance of the clerical or support duties. Arkansas: Exempts manufactured home retailer and its employees if performing only administrative or clerical tasks in connection with the sale or lease of a manufactured home and the retailer and its employees receive no compensation or other gain from a mortgage banker or mortgage broker for the performance of the administrative or clerical tasks. Idaho: Exempts a person that only performs the activities of a manufactured housing resale broker, responsible managing employee, retailer or salesman….unless the person is compensated by a lender, broker, or other mortgage loan originator. Exemption shall not apply if HUD finds that it is inconsistent with SAFE Indiana: Unless the CFPB, through guidance, rules, regulations, or interpretive letters, determines otherwise, this article does not apply to a manufactured housing retailer that sells a mobile, manufactured, or modular home if the manufactured housing retailer only assists a consumer in filling out a credit application and does not: (1) offer or negotiate loan rates or terms; (2) provide any counseling with the consumer about residential mortgage loan rates or terms; or (3) receive any payment or fee from any company or individual for assisting the consumer. Iowa: The law does not apply to a licensed manufactured housing retailer selling mobile, manufactured or modular homes, if the retailer only assists the consumer in filling out a loan application and does not offer or negotiate loan rates or terms, and does not do any counseling with consumers about residential mortgage loan rates or terms and does not receive any payment or fee from any company or individual for assisting the consumer Louisiana: Exempts individuals who are employees of a retailer of manufactured or modular homes if the employees are performing only administrative or clerical tasks in connection with the sale or lease of a manufactured or modular home and provided such individuals receive no compensation or other gain from a residential mortgage lender or a residential mortgage broker for the performance of the administrative or clerical tasks. (§ 1087) Colorado: The term loan originator does not include a person that only performs the services and activities of a manufactured home dealer.