4,650 New HUD Code Homes Shipped in April 2012 – Up 17.6 Percent from April 2011 MHI’s Monthly Economic Report© for April 2012 is now available. In the month of April 2012, 4,650 new manufactured homes were shipped, up 17.6 percent from April 2011. Increases were across the board with shipments of …
Top National News Builder Confidence on the Mend The National Association of Home Builders/Wells Fargo index of builder sentiment climbed to 29 for June, its seventh gain in the last nine months and its highest level since May 2007. The reading suggests that builders are seeing early signs of a …
CFPB Activities Update CFPB Signs MOU on Supervisory Coordination On June 4th, the Consumer Financial Protection Bureau (CFPB), jointly with the Federal Reserve Board (FRB), FDIC, National Credit Union Administration (NCU) and Office of the Comptroller of the Currency (OCC), announced a Memorandum of Understanding (MOU) on Supervisory Coordination. …
CFPB Reopens Comment Period for Ability to Repay Rule On March 31st the Consumer Financial Protection Bureau (CFPB) announced it was reopening the comment period through July 9, 2012 for proposed rules issued Spring 2011 defining the terms of a “qualified mortgage” as required under the Dodd-Frank Act. The qualified …
The National Modular Housing Council’s actual shipments report indicates that 2,922 new modular homes were shipped in the first quarter of 2012, up 18.7 percent from the same quarter in 2011. Relative to Q1 2011, state shipment results for the first quarter of 2012 showed increases for 16 states, reductions …
NMHC’s Quarterly Modular Housing Report© for the 1st Quarter of 2012 is Now Available Read More
MHI Adds to its Dodd-Frank Advocacy Activities Earlier this month, in an effort to increase its access to senior decision-makers within the Consumer Financial Protection Bureau (CFPB), MHI added to its existing in-house and external government relations capabilities by hiring SNR Denton. SNR Denton will assist MHI in its dual-track …
MHI Successfully Petitions HUD to Withdraw Notice on Design Requirements for Southern Pine Responding in record time to a May 4th letter by MHI President Richard Jennison, HUD recently informed MHI that it will withdraw its notice giving manufacturers less than a month to meet new building design requirements for …
National News Mortgage Rates Lowest in 60 Years Interest on 30- and 15-year fixed mortgages hit record lows for the second consecutive week, reports Freddie Mac. The average rate for 30-year loans fell to 3.83 percent, down from 3.84 percent a week ago, while the average rate for 15-year …
CFPB Gives Sneak Peek of Coming Loan Originator Compensation Rules On May 9th, the Consumer Financial Protection Bureau (CFPB) unveiled initial details of rules to be formally released later this summer regarding loan originator compensation. The CFPB outline of the proposed rule provides indications of the limits that will be …
In the month of March 2012, 4,696 new manufactured homes were shipped, up 16.4 percent from March 2011. Increases were across the board with shipments of both single-section and multi-section homes up compared with the same month last year. As with the first two months of 2012, single section homes …
Banking Industry Split Over Qualified Mortgage Rules In May 2011, the Federal Reserve Board issued proposed rules implementing provisions of the Dodd-Frank Act requiring lenders to verify a consumer’s ability to repay a mortgage. Under the law, a loan that meets the definition of a “qualified mortgage” (QM) is …
Chairman Tiberi Holds Congressional Hearing on “Tax Extenders” On Thursday, Congressman Pat Tiberi (R-OH), Chairman of the Subcommittee on Select Revenue Measures, held a hearing on Member proposals related to certain tax provisions that either expired in 2011 or will expire in 2012. These temporary tax breaks are often referred …
2012 National Congress & Expo a Huge Success – Attendees Show Strong Determination and Optimism for a Great Future We would like to thank the 700 registrants, speakers, sponsors, and exhibitors that helped make the 2012 Congress & Expo for Manufactured and Modular Housing a huge success. Attendees from all …
In the month of February 2012, 4,139 new manufactured homes were shipped, up 43.5 percent from February 2011. Increases were across the board with shipments of both single-section and multi-section homes up compared with the same month last year. Single section homes accounted for the largest portion of the increase, …
CFPB Regulatory Updates CFPB Clarifies MLO Compensation On April 2nd, the Consumer Financial Protection Bureau (CFPB) issued guidance to address concerns as to whether the mortgage loan originator compensation rule in Regulation Z (Truth in Lending Act) prohibits originators from participating in a qualified profit-sharing 401(k) or employee stock ownership …
Support Growing for Manufactured Housing Access Legislation As of March 30th, 22 Representatives agreed to cosponsor legislation (H.R. 3849), which is endorsed by MHI, to make targeted revisions to the Dodd-Frank and SAFE Acts (see co-sponsor list below). MHI is grateful for the assistance from member companies, state associations, and other …
MHI News Action Needed — Urge Representatives to Co-Sponsor the Preserving Access to Manufactured Housing Finance Act (H.R. 3849) This morning an MHI Action Alert was emailed to members urging each one to contact their U.S. Representatives and urge them to co-sponsor H.R. 3849 (Preserving Access to Manufactured Housing Act). …
MHI Chairman Joe Stegmayer Honored with 2011 Jack E. Wells Memorial Award On Thursday, March 15th, MHI Chairman Joseph “Joe” Stegmayer was presented with the California Manufactured Housing Institute’s (CMHI’s) prestigious Jack E. Wells Memorial Award during CMHI’s annual awards dinner. The Jack E. Wells Memorial Award was first …
As early as Tuesday, March 13th, Sen. Debbie Stabenow (D-MI) is expected to offer an amendment (#1812) to the surface transportation reauthorization legislation (S. 1813) that would renew the Energy Efficient Home Credit (I.R.C. 45L). MHI members are asked to contact their Senators and specifically request they vote in favor …
Top National News Prototype of Standardized Monthly Mortgage Statement Is Released The Consumer Financial Protection Bureau on Feb. 13th released a prototype for a proposed standardized mortgage servicer statement designed to provide easy-to-understand information to borrowers. The new one-page document will include information such as maturity date; prepayment penalty; …
