HousingWire says the U.S. Senate Permanent Subcommittee on Investigations released a report about the recent financial crisis targeting the Office of Thrift Supervision (OTS) for regulatory failures, conflicts of interest and lack of oversight regarding risky financial products. Senators Carl Levin (D-Mich.) and Tom Coburn (R-Okla.) released the report, which …
HousingWire reports that a settlement between the Federal Trade Commission (FTC) and two companies and three individuals yielded $2.2 million that will be refunded to homeowners allegedly swindled in a mortgage relief scam. The defendants falsely posed as having the authority to modify loans, and received fees up front from …
Yahoo!Finance reports an Associated Press story from Los Angeles that a homeowner who applied for a loan modification under the Home Affordable Modification Program (HAMP) is suing Saxon Mortgage Services, Inc. for breach of contract and deceptive debt collection. The homeowner alleges she complied with all the requirements of this …
Homeowner Sues Mortgage Servicer over HAMP Loan Denial Read More
News-press.com in Florida offers a legal Q & A column. Questioner lives in a manufactured home community six months of the year, pays for lawn maintenance, but has a rock garden instead of grass. They have to weed their own rock garden despite paying for lawn care, and have to …
Leagle.com, a website devoted to court cases, reports Stephen Scott Edwards bought 11.34 acres of agriculturally-zoned land in Bladen County, North Carolina, three and one-half years ago to establish a manufactured home community. The Planning Board turned down his request to rezone the land, saying while it met safety and …
Legal Wrangling Besets Proposed Manufactured Home Community Read More
After two years of investigation, The New York Times reports the criminal charges against Angelo R. Mozilo, former CEO of Countrywide Financial, the one-time largest mortgage lender in the U.S., have been dropped by federal prosecutors. The Securities and Exchange Commission settled their suit against him last fall for $67.5 …
From California, SignOnSanDiego.com reports that residents of the 76-acre De Anza Cove Mobile-Home Park (a mixed community including manufactured homes) have reached a $3.6 million settlement with the city of San Diego for the poor treatment they received from a property management company hired by the city. The property-management company …
Community Residents Receive Settlement After Harsh Actions by Management Read More
The Indiana Department of Financial Institutions has been performing outreach to manufactured housing retailers and communities in order to insure compliance with the SAFE Act. Mark Bowersox, executive director of the Indiana Manufactured Housing Association (IMHA) told MHMSM.com his organization was previously told by the state that enforcement would be complaint-driven, …
Indiana Department Investigating for SAFE Act Compliance Read More
A manufactured home community is Lewiston, Idaho that for decades has included a combination of manufactured homes and recreational vehicles, due to varying lot sizes, will be allowed to replace older RVs with newer ones. A previous ruling in district court had upheld the City of Lewiston’s determination prohibiting the …
Iowa Court Reverses Decision, Allows Recreational Vehicles in Community Read More
