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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 62 J O U R N A L July 2023 Government HUD ESTABLISHES INDEPENDENT OFFICE OF MANUFACTURED HOUSING T he U.S. Department of Housing and Urban Development's (HUD) Office of Housing has announced the formation of the Office of Manufactured Housing Programs as an independent office reporting directly to Assistant Secretary for Housing and Federal Housing Commissioner Julia Gordon. The Office was previously or- ganized under the Office of Housing's Office of Risk Management and Regulatory Affairs. HUD's actions acknowledge the key role of manufactured housing in meeting the nation's affordable housing needs, as manu- factured housing has figured prominently in the Biden-Harris administration's efforts to increase the supply of affordable housing. The Office of Manufactured Housing Programs is part of HUD's Office of Hous- ing and will administer the Manufactured Home Construction and Safety Standards, commonly referred to as the HUD Code. The HUD Code establishes federal standards for the design and construction of manufactured homes to assure quality, durability, safety, and affordability. The Office enforces standards directly or through state agencies that have partnered with HUD, inspects factories and retailer lots, regulates installation standards for homes, and administers a dispute resolution program for defects. The Office also oversees a Manufactured Housing Consensus Commit- tee, a federal advisory committee composed of 21 producers, users, and general interest and public officials to advise HUD. "This organizational change represents a recognition of the critically important role that manufactured housing plays in our country's housing market," Assistant Secre- tary for Housing and Federal Housing Com- missioner Gordon said. "Thanks to the work executed by our Office of Manufactured Housing Programs over the last two years, we have made significant progress to support the availability of modern and affordable manufactured homes." Over the past two years, HUD's Office of Manufactured Housing Programs has worked to facilitate widespread changes that will support long-term growth in the availability and acceptance of manufactured homes, including: » Supporting the continued production of manufactured homes despite COVID-19 supply chain challenges: The Office sup- ported the ongoing production and avail- ability of manufactured homes by issuing the first-ever industrywide Alternative Construction Letters to alleviate COVID-19 supply chain challenges. » Implementing the first major changes in almost a decade to the Manufactured Home Construction and Safety Stan- dards (HUD Code): HUD's final rule for the manufactured housing third set of standards became effective in July 2021 and added provisions to the HUD Code such as attached garages and carports; zero-lot- line townhome-style housing; and require- ments for carbon monoxide alarms. » Initiating the largest set of proposed changes to the HUD Code in over two decades: Through its combined fourth and fifth set of standards proposed rule published in July 2022, HUD is proposing to bring the HUD Code in line with more recent manufactured housing industry standards, including allowing materials that facilitate modern design approaches and improve quality; allowing certain ridge roof designs; adding provisions for multifamily manufactured homes of up to three units; updating requirements for open floor plans, truss designs, and specifications for attics; and accessibility improvements; and others. FANNIE MAE EXECUTES CIRT TRANSACTIONS ON $26.6B OF SINGLE-FAMILY LOANS F annie Mae announced that it has executed its sixth and seventh Credit Insurance Risk Transfer (CIRT) transactions of 2023. CIRT 2023-6 and CIRT 2023-7 in aggregate transferred $789 million of mortgage credit risk to private insurers and reinsurers. These transactions were brokered by Aon plc and sub-brokered by certified mi- nority business enterprise (MBE) Protecdiv. "We appreciate the continued support