Dick Ernst, President
2010 MHI Industry Person of the Year
Dick Ernst has been in the manufactured housing finance business for over 40 years.
He has owned his own business for the last 28 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 for the industry.
Career Highlights
Ø Dick created a unique private conduit finance program for the financing of manufactured housing with the Independent Community Bankers Association of America. 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 then sell the loan without recourse or servicing responsibility. Dick conducted over 150 training seminars is support of the program. The program ultimately had over 400 banks enrolled and providing loans to their customers.
Ø Dick was selected as MHI's Industry Person of the Year in 2010. Chosen by industry leaders, Dick was selected for his great leadership and commitment to the industry during that year.
Ø Created a Joint Venture Mortgage Company between Wells Fargo Mortgage and three industry manufacturers; providing Construction, FHA, and Conforming Mortgage Products for their customers.
Ø Created Palm Harbor’s captive Finance Company, CountryPlace Mortgage including negotiating loan sale agreements and served as a consultant to Palm Harbor for over 8 years.
Ø Served on the Board of Directors of The Myers Group, a developer of Fee Simple Manufactured Home Communities.
Ø Owned mortgage origination offices in Oregon and Texas.
Ø Represented a large regional financial institution in the origination of FHA, VA and Conventional loans in a 15 state area. Originated over $300 million in loans.
Ø Dick has also provided consulting services to industry manufacturers; Palm Harbor, Commodore, Fleetwood, Champion, American Homestar, Guerdon, and retailing groups concerning finance and insurance.
Ø Dick has provided consulting services to Textron Financial in the development of commercial and consumer construction loan products for the factory built industry.
Ø He is very active with the Manufactured Housing Institute and served as Interim President in 1998.
Ø He has served two terms as Treasurer of MHI; two terms as Chairman of the Financial Services Division; 16 years on the Board of Directors, and Chairman of the Government Relations Committee.
Dick has spoken at many industry conferences and meetings and most recently has spoken at the Florida Manufactured Housing Association Annual Conference in 2010; Iowa Manufactured Housing Annual Conference, 2010; Mortgage Bankers Conference in Boston; led a panel discussion on the sub-prime meltdown and the impact on the manufactured housing industry at MHI’s annual meeting; moderated a panel of FHA, and GNMA officials in Washington D.C.; moderated a panel of industry executives in La Costa California on major issues facing each industry segment; Industry Finance update at the Missouri, North Carolina and Florida annual conventions and was a key note speaker at George Allen’s International Networking Roundtable.
Dick currently is engaged in a consulting contract for the development and marketing of a lending platform that will provide community owners that provide financing to customers a SAFE Act compliant method to continue their efforts without SAFE Act licensing.
He has owned his own business for the last 28 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 for the industry.
Career Highlights
Ø Dick created a unique private conduit finance program for the financing of manufactured housing with the Independent Community Bankers Association of America. 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 then sell the loan without recourse or servicing responsibility. Dick conducted over 150 training seminars is support of the program. The program ultimately had over 400 banks enrolled and providing loans to their customers.
Ø Dick was selected as MHI's Industry Person of the Year in 2010. Chosen by industry leaders, Dick was selected for his great leadership and commitment to the industry during that year.
Ø Created a Joint Venture Mortgage Company between Wells Fargo Mortgage and three industry manufacturers; providing Construction, FHA, and Conforming Mortgage Products for their customers.
Ø Created Palm Harbor’s captive Finance Company, CountryPlace Mortgage including negotiating loan sale agreements and served as a consultant to Palm Harbor for over 8 years.
Ø Served on the Board of Directors of The Myers Group, a developer of Fee Simple Manufactured Home Communities.
Ø Owned mortgage origination offices in Oregon and Texas.
Ø Represented a large regional financial institution in the origination of FHA, VA and Conventional loans in a 15 state area. Originated over $300 million in loans.
Ø Dick has also provided consulting services to industry manufacturers; Palm Harbor, Commodore, Fleetwood, Champion, American Homestar, Guerdon, and retailing groups concerning finance and insurance.
Ø Dick has provided consulting services to Textron Financial in the development of commercial and consumer construction loan products for the factory built industry.
Ø He is very active with the Manufactured Housing Institute and served as Interim President in 1998.
Ø He has served two terms as Treasurer of MHI; two terms as Chairman of the Financial Services Division; 16 years on the Board of Directors, and Chairman of the Government Relations Committee.
Dick has spoken at many industry conferences and meetings and most recently has spoken at the Florida Manufactured Housing Association Annual Conference in 2010; Iowa Manufactured Housing Annual Conference, 2010; Mortgage Bankers Conference in Boston; led a panel discussion on the sub-prime meltdown and the impact on the manufactured housing industry at MHI’s annual meeting; moderated a panel of FHA, and GNMA officials in Washington D.C.; moderated a panel of industry executives in La Costa California on major issues facing each industry segment; Industry Finance update at the Missouri, North Carolina and Florida annual conventions and was a key note speaker at George Allen’s International Networking Roundtable.
Dick currently is engaged in a consulting contract for the development and marketing of a lending platform that will provide community owners that provide financing to customers a SAFE Act compliant method to continue their efforts without SAFE Act licensing.
Read more about Dick's professional credentials here:
