Dick Ernst has been in the manufactured housing finance business for over 45 years. He has owned his own business for the last 34 years, serving as President of Financial Marketing Associates, Inc., a consulting firm specializing in factory built housing finance (both chattel and mortgage), insurance and warranty products.
Career Highlights:
- Most Recent: As Chairman of the Financial Services Division of MHI, Dick also chairs the Duty to Serve Taskforce, which is working with and meeting with the Federal Housing Finance Agency, Fannie Mae and Freddie Mac for the creation of a secondary loan purchase market for Chattel Manufactured Housing Loans.
- In 2016, Dick was the Manufactured Housing Institute’s spokesperson for an on camera interview with PBS’s Steven Fee.
- Dick has spoken at many conferences and meetings regarding Dodd Frank Regulations; Duty to Serve; CFPB Appraisal and Valuation Rules and most recently moderated a panel of Industry Leaders, Kevin Clayton, President of Clayton Homes; Joe Stegmayer, President of Cavo Industries; Keith Anderson, President of Champion Homes; Gary McDaniel, President of Yes Communities; Todd Baker, VP of Sales for Equity Life Style Communities; and Don Westphal, President of Westphal Associates a leading land use designer and architect. Dick questioned the leading decision makers on how the industry could play a more significant role in providing affordable housing for first time homebuyers in the $150,000 to $350,000 price range.
- 2014 MHI Chairman’s Award winner
- 2010 Industry Person of the Year
- Dick created a “Third Party Service Provider Platform” with a large credit union utilized by many large land lease community operators in the country for compliant loan origination, underwriting and loan documentation.
- Dick created a unique private conduit finance program for the financing of manufactured housing with the Independent Community Bankers Association of America (ICBA). This program provided community banks access to competitive rates and terms for all types of manufactured housing loan products that they could offer to their customers. The banks could then sell the loans without recourse or servicing responsibility. Dick conducted over 150 training seminars around the country in support of the program. The program ultimately had over 400 banks participating and providing loans to their customers.
- As mentioned previously Dick was chosen Industry Person of the Year in 2010 by industry leaders for his leadership and commitment to the industry. Dick was also awarded the MHI Chairman’s award in 2014 for his efforts with legislative and agency work.
- Dick created a Joint Venture Mortgage Company between Wells Fargo Mortgage and three industry manufacturers; providing a consistent source of funding for Construction, FHA and Conforming mortgage loans for their customers.
- Dick created Palm Harbor’s captive finance company CountryPlace Mortgage. This company became operational in all states Palm Harbor did business and originated loans and loan sale agreements. Dick stayed on as a consultant for 8 years.
- Served on the Board of Directors of The Myers Group, a developer of fee simple Manufactured Housing Communities.
- Owned a mortgage origination business with offices in Texas and Oregon.
- Represented a large regional bank in the origination of FHA, VA and Conventional manufactured housing loans in 15 states. Originated over $300 million in loans.
- Dick remains very active with MHI. He has served as Interim President, Chair of the Financial Services Division (3 terms); Chair of the Government Relations Committee; and Chair of the Investment Committee.
- Dick has provided consulting services to industry manufacturers; Palm Harbor, Commodore, Fleetwood, Champion, American HomeStar, Guerdon and retailing groups pertaining to finance and insurance.
- Dick provided consulting services to Textron Financial in the development of commercial and consumer Construction Loan products for the factory built industry.
