This week, Ginnie Mae announced its plan to implement its new program for manufactured home loans. These changes were created in response to recent changes in the Federal Housing Administration’s (“FHA”) Title I Program for manufactured housing, as communicated in Title I Letters TI-481 and TI-484,and in support of the …
Ginnie Mae Announces New Manufactured Housing Program Read More
On Thursday, Senate Majority Leader Harry Reid (D-NV) co-authored a proposal that would give home buyers hoping to take advantage of the federal home buyer tax credit three extra months to complete their home purchases. To qualify for the tax credit — $8,000 for first-time buyers and $6,500 for certain …
MHI Supports Proposal to Extend Closing Period for Home Buyer Tax Credit Read More
MHI’s Monthly Economic Report© for April 2010 is now available.
The Manufactured Housing Institute’s actual shipments report indicates that 4,817 new HUD Code homes were shipped in April 2010, up 11.2 percent from April 2009. Increases were across the board with both single-section and multi-section home shipments up compared with the same month last year.
At the request of several Members of Congress, the Federal Trade Commission is further delaying enforcement of the “Red Flags” Rule through December 31, 2010, while Congress considers legislation that would affect the scope of entities covered by the Rule. This announcement by the FTC and the release of an Enforcement Policy Statement do not
On Friday, May 28, the House narrowly passed a package extending numerous expiring tax credits. The American Jobs and Closing Tax Loopholes Act of 2010 (H.R. 4213) contains the extension of the New Energy Efficient Home Tax Credit, Section 45L. The package contains a
After several months of working its way through the clearance process, FHA Commissioner Stevens opened the Manufactured Housing Finance Summit on June 2nd by announcing the publication of the final Title I Manufactured Home Loan Program Clarification and Guidance (TI-484). This Title I letter provides clarification and technical amendments to
MHI was very disappointed to learn the Federal Housing Finance Agency’s (FHFA) proposed rule on the “duty to serve” underserved markets, including manufactured housing, which will be officially released next week, will not consider any type of personal property lending on manufactured housing.
MHI and dozens of industry members attended a Manufactured Housing Finance Summit hosted by Congressman Donnelly (D-IN) and FHA Commissioner Stevens in Elkhart, Indiana on June 2nd.
MHI would like to thank Congressman Donnelly and Commissioner Stevens and their respective staffs for devoting their time and
On May 26th, the USDA’s Office of Rural Development announced that it will authorize the issuance of Conditional Commitments for its Section 502 Single Family Housing Guaranteed Loan Program which has been out of funds since last month. The Office of Rural Development will continue to accept complete loan applications and issue Conditional Commitments from approved lenders subject to final action on pending legislation to charge a sufficient guarantee fee to support the program. Legislation is expected to be enacted within the next several weeks. MHI has worked with members of Congress and other housing partners to obtain additional funding authority for the program.
This week, the House Energy and Commerce Committee approved, the “Formaldehyde Standards for Composite Wood Products Act” (HR 4805), a bill that would require all finished wood products to comply with California’s CARB standard for formaldehyde emissions by 2012. MHI was successful in having the bill amended to provide that HUD as opposed to EPA would continue to regulate formaldehyde standards for manufactured housing. It requires the Secretary of Housing and Urban Development (HUD) to update regulations on formaldehyde emission controls for certain wood products used in construction of manufactured homes to ensure that they reflect the formaldehyde emission standards established by this Act. At MHI’s urging, the legislation states that the effective date for manufactured and modular homes shall be based on a designated date of manufacture of the finished good, rather than a “sell-by” date whereby all existing inventory which does not comply with CARB must be sold.
On Tuesday, the House of Representatives passed a resolution authored by Congressman Joe Donnelly (D-IN) recognizing the importance of manufactured housing to American families and recognizing the third week in June, which is National Homeownership Month, as “Manufactured Housing Week.” Congressman Donnelly has consistently advocated for our industry since coming …
House Passes Donnelly Resolution Recognizing Manufactured Housing Week Read More
MHI Holds Important Meeting on Capitol Hill Regarding SAFE Act
Earlier this week, Representative Joe Donnelly (D-IN) and Representative Bill Posey (R-FL), who sit on the House Financial Services Committee, introduced HR 5369 the “Manufactured Housing Licensing Clarification Act of 2010.”
As previously reported, the MHI-NCC is working feverishly to prevent a tax increase on affordable housing in America.
Congress is currently considering a set of tax and benefit extensions which includes several controversial revenue generators. One such measure is to tax “carried interest” earned by
The U.S. Senate is expected to act early next week on legislation to extend funding for the USDA Rural Housing Services Single Family Loan program to authorize additional commitment authority and funding through the end of the year. This will pave the way for the USDA to give lenders authority to provide 502 loan commitments for their borrowers waiting for these loans. MHI sent letters to Congressional Leaders urging quick action to provide additional funding authority.
Last night, the Senate passed legislation that would dramatically reshape regulation of the financial institutions. The legislation which passed the Senate on a largely party-line vote of 59-39, would create a new regulator tasked with safeguarding consumers from risky loans and investments, create a
On Wednesday, MHI members received an email regarding the availability of MHI’s 2010 Membership Directory. Our valued members now have several choices to obtain the 2010 MHI Membership Directory which also includes its research affiliate, Systems Building Research Alliance. These choices include downloading and printing the directory, utilizing MHI’s searchable online Membership Directory and/or requesting that copy of the directory be mailed to you.
The season finale of Extreme Makeover: Home Edition will air on Sunday evening, May 16, 2010, on ABC at 8:00 p.m. Eastern/7:00 p.m. Central time. This episode will feature the Williams family and the show’s first modular home, built by Palm Harbor Homes, Inc. and its wholly-owned modular subsidiary, Nationwide Homes, Inc., in Pine Mountain Valley, Georgia.
A new publication by the Federal Emergency Management Agency (FEMA) is available through MHI, Protecting Manufactured Homes from Floods and Other Hazards: A Multi-Hazard Foundation and Installation Guide. The CD is the most current edition of the FEMA P-85 Installation Guide finalized in November 2009. It reflects the requirements of the most
As previously reported by MHI last week and in an “Action Alert” to the MHI-NCC and state associations earlier this week, a tax increase on the “carried interest” earned by private equity managers, venture capitalists and real estate investors now seems increasingly likely as lawmakers head towards a final deal on the “Tax Extenders” bill (HR 4213).
Earlier this year, MHI met with Representative Joe Donnelly (D-IN) who represents Elkhart, Indiana and sits on the House Financial Services Committee. During the meeting, legislative clarification from the SAFE Act for manufactured housing retailers and salespersons was discussed, as well as a legislative directive to make the SAFE Act more relevant to personal property only lenders. Rep. Donnelly agreed to introduce legislation that would accomplish that goal.
