The Manufactured Housing Institute informs MHProNews that the passage of the legislation by Congress to avert the “fiscal cliff” included extension of tax credits for Energy Star manufactured and modular homes. The New Energy Efficient Home Credit expired at the end of 2011 and has been extended to Dec. 31, …
In a letter to U.S. Senate Majority Leader Harry Reid, the National Association for Home Builders (NAHB) asks the Senate to support the Vitter/Warner/Nelson amendment to H.R. (House of Representatives) bill 4212 that strengthens the Contaminated Drywall Safety Act of 2012. In targeting the response to unsafe drywall, the amendment …
While Republicans and Democrats continue squabbling over the impending fiscal cliff, the Mortgage Forgiveness Debt Relief Act of 2007 is due to expire at the end of the year, which would cause homeowners to begin paying taxes on the part of their mortgage that is forgiven in a short sale, …
Letting the Act Expire Could Cost Underwater Borrowers Read More
In legislation passed this week by the House of Representatives, nationalmortgagenews says confidential information submitted by banks and thrifts to the Consumer Financial Protection Bureau (CFPB) will be protected, but nonbanks in some states are not included. Independent mortgage banks, payday lenders and finance companies are regulated by consumer agencies …
Confidentiality not Protected by Congressional Bill Read More
NJToday tells MHProNews an Assembly committee in the New Jersey legislature approved fire safety legislation that would require all new single and two-family homes to have a fire suppression system that conforms to the State Uniform Construction Code. Under the “New Home Fire Safety Act” a certificate of occupancy would …
Manufactured Housing Dodges Fire Suppression System Read More
The FHA Emergency Fiscal Solvency Act (H.R. 4264), to insure solvency of the agency’s single-family insurance fund, passed the House 402-7 last Sept. and is awaiting action before the Senate Banking, Housing and Urban Affairs Committee. House Financial Services Committee Chairman Spencer Bachus sent a letter to Sen. Tim Johnson, …
American Banker reports the Senate Banking Committee, two years after implementing Dodd-Frank, will likely review the impact of the regulations on the marketplace to determine what may need to be altered. The agenda has not been set yet for the coming year because Committee Chairman Tim Johnson (D-S.D.) wants to …
Will the Senate Alter Dodd-Frank and CFPB Regulations? Read More
With legislators looking for revenue sources to avert the fiscal cliff, the housing industry once again feels pressure that the mortgage interest tax deduction may be on the block, according to CNNMoney. Their lobbying expenditure has increased from $27 million last year to $30 million this year, according to the …
MHProNews has learned effective Jan. 2013 the Consumer Financial Protection Bureau (CFPB) will assume authority of the Fair Credit Reporting Act (FCRA) as it moves out of the Federal Trade Commission. The CFPB issued new regulations that delineate the form governing the conducting of a credit check by a prospective …
A tax break that gives homeowners the opportunity to save thousands may expire by the end of the year unless it is renewed by Congress. CNNMoney informs MHProNews the Mortgage Forgiveness Debt Relief Act of 2007 protects homeowners from having to pay income taxes on the portion of their mortgage …
The CalgaryHerald tells MHProNews the provincial government of Alberta, Canada has taken the first step towards making warranty coverage for new homes in the province mandatory, a move that could add up to $2,000 to the price. The New Home Buyer Protection Act would cover manufactured and modular homes, single-family …
Following up on a post we published Oct. 26, 2012 regarding legislation Pennsylvania Gov. Tom Corbett signed to protect residents of MHCs that close, LehighValleyLive informs MHProNews the drive for this measure began in 2006 when 50 families of the Barbosa Mobile Home Park in Northampton County were given 30 …
According to mcall, Pennsylvania Gov. Tom Corbett signed into law House Bill 1767, a measure that amends the Manufactured Home Community Rights Act that requires written notice to homeowners of a decision to close a community. The law also prescribes relocation expenses when homeowners do not have the means to …
House Financial Services Chairman Spencer Bachus (R-Ala.) released a report in rebuttal to Dodd-Frank supporters who claim the new law ends bailouts. Entitled, “The Dodd-Frank Act, the Persistence of ‘Too Big to Fail,’ and the Institutionalization of Government Bailouts,” the analysis asserts Section 204 of Dodd-Frank allows the FDIC to …
In a letter to the U.S. Speaker of the House of Representatives John Boehner, the National Association of Home Builders (NAHB) expresses concerns with H.R. 4212, the Contaminated Drywall Safety Act of 2012, which is designed to prevent unsafe drywall being used in the U.S. While NAHB praises the Consumer …
Home Builders Want to Evaluate Legislative Proposal Read More
originationnews reports banks under the $10 billion threshold for compliance with the ever-shifting Dodd-Frank Act are unsure of which aspects of the measure apply to them, and are outsourcing because their own IT departments cannot keep track of the provisions that are delayed and/or rewritten. Cashmere Valley Bank in Washington …
BloombergBusinessWeek says while Republican presidential candidate Mitt Romney has vowed to repeal Dodd-Frank, it’s more likely he would water down some of the restrictions on the most lucrative and profitable investments while providing sufficient oversight to protect the banks. Specifically, banks would toss restrictions on investments in private equity and …
As follow-up to an article we published Aug, 24, 2012 on the Delaware race for state representative in District 37 between incumbent Republican Briggs King and Democrat Beth McGinn, Ms. King clarifies her stance on MHCs in a Cape Gazette VillageSoup article. While Ms. McGinn criticized King for abstaining from …
Delaware Legislative Candidate States MHC Position Read More
SacBee reports from the unincorporated town of Thermal in California’s Eastern Coachella Valley, residents of the Sunbird Mobile Home Park filed a complaint with the California Public Utilities Commission claiming excessive water bills and arsenic-contaminated water, which resulted in a bill passed by the state legislature allowing residents in such …
The Manufactured Housing Institute (MHI) tells MHProNews with Congress in recess until mid-Sept. and members back in their home districts, now is the time to contact your representative and senator and encourage them to co-sponsor HR bill 3849 or Senate bill 3484, both entitled Preserving Access to Manufactured Housing. While …
