Welcome to Episode 118 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Today’s guest is Dennis Smith from Freddie Mac. Freddie Mac is considered a GSE (government-sponsored enterprise) and with that comes the Duty to Serve mandate, which focuses on three underserved markets for those who make under 80% of the median income. On today’s show, Dennis explains what the Duty to Serve initiative means and how that affects both mobile home residents and owners.
Key Takeaways:
[2:20] What did Dennis do prior to joining Freddie Mac?
[3:40] Dennis dives into a little bit of the history of Freddie Mac and what GSE (government-sponsored enterprise) is.
[4:15] Where did the ‘Duty to Serve’ mandate/regulation come from?
[6:10] Duty to serve focuses on three underserved markets; Rural housing, affordable housing, and manufactured housing. How is rural housing defined?
[7:40] How is affordable housing defined?
[10:15] What does Duty to Serve mean for the residents of mobile home parks?
[11:25] And, finally, what does Duty to Serve mean for the owners of mobile home parks?
Mentioned in This Episode:
Park Street Partners Business Resources
LinkedIn: Mobile Home Park Investors Group
Send deals to Deals@parkstreetpartners.com