MHProNews.com has learned from Jason Boehlert, vice president of government relations at the Manufactured Housing Institute (MHI), On February 7, the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) released final rules extending anti-money laundering (AML) and suspicious activity report (SAR) requirements to non-bank residential mortgage lenders and originators. Non-bank …
Hurt by high material and production costs, Drew Industries, Inc. announced fourth quarter earnings lower than expected. According to information MHProNews.com has received from Reuters, the RV and MH component maker saw net sales rise 50 percent to $160 million, and income rise by $1 million to $4.1 million over …
Wellsboro, Pennsylavania, County Assessor Deb Crawford of Tioga County says manufactured home owners need to obtain a trailer release if they sell or move their homes in order to avoid receiving a continuing tax bill. Without the permit “we would not know there is a new owner, “Crawford says,” (and) …
From Massachusetts and Nashoba Publishing, MHProNews.com learns that George Clark, president of Clark’s Retirement Homes Park met with a zoning board there recently to address a discrepancy over the number of homes identified in his application for a Manufactured Housing Community permit. Clark told the committee members the board had …
As follow up on a story we published Feb. 6, Joe Kelly, executive vice president of the Iowa Manufactured Housing Association (IMHA), tells MHProNews.com house bill 593 that would create a fund to assist consumers purchase manufactured housing passed out of the subcommittee by a 3-0 vote. Committee member Jeff …
MoneyNews tells MHProNews.com Sam Zell, CEO of Equity Lifestyle Properties says if the government had not stepped in to try and solve the housing market problems we would have a healthy market today. He says government intervention prevented the market from clearing itself. “We are the only country in the …
Sam Zell: Government Programs Prevent Housing Recovery Read More
MHProNews.com has learned from Robert S. Coldren of Hart, King & Coldren in Santa Ana, California, a Vista (CA) Superior Court judge’s ruling may help MHC owners sell their land if they cannot earn enough from renting home sites. According to utsandiego rent control has been in effect in Oceanside …
From North Carolina and BlueRidgeNow.com, MHProNews.com learns that Henderson County residents with abandoned manufactured homes on their property can apply for a grant to help finance the removal of the home. According to the article, the typical cost for a home removal is $1,500, $1,000 of which can be provided …
The Manufactured Housing Association for Regulatory Reform (MHARR) reports that according to official statistics compiled on behalf of the U.S. Department of Housing and Urban Development (HUD). The manufactured housing industry rebound evident in recent months continued and strengthened during December 2011, posting its fifth production increase in 12 months. …
From Boston.com, MHProNews.com learns that the highest court in Massachusetts has approved the expansion of an MH community in the town of Shirley. The court determined local zoning regulators used concerns about traffic and density as pretexts to squash the project. The town, the court determined, cannot apply zoning bylaws …
MHProNews.com has received a memorandum from Joe Stegmayer, Chairman of the Manufactured Housing Institute (MHI), regarding testimony at last week’s House Financial Services Committee hearing on HUD’s implementation of the Manufactured Housing Improvement Act of 2000. Noting the difficulty in gaining the attention of Congress, Stegmayer emphasizes the extended effort …
MHI Responds to Unexpected Testimony at Congressional Hearing Read More
Would you put your child in this man’s hands? MHProNews.com extends heartiest congratulations to Doug Gorman, founder of Home Mart in Tulsa, OK on the birth of his grandson, Gunner Cannon, shown here at two-weeks old in the arms of Mitt Romney. Taken during a Florida campaign stop Jan. 26, …
PR-USA tells MHProNews.com that UMH Properties, Inc., of Freehold, New Jersey, took out a $11.4 million mortgage loan with Bank of America to refinance two manufactured housing communities in Ohio and Tennessee. At a fixed all-in rate of 4.39 percent, monthly principal payments will be $26,113. Payoff date is Feb. …
Joe Kelly of the Iowa Manufactured Housing Association tells MHProNews.com HSB 593 would create a manufactured housing program fund to assist consumers with buying MH, especially if they are moving into land lease communities (LLC). Supported by Gov. Terry Branstad and leaders in the legislature, the bill authorizes the revolving …
Manuel Santana, director of engineering for Cavco Industries, told a congressional subcommittee HUD’s negligence in implementing the Manufactured Housing Improvement Act of 2000 has contributed to the industry’s 80 percent decline in production. In testimony prepared for the House Financial Services Subcommittee on Insurance, Housing and Community Opportunity, he said …
Noozhawk tells MHProNews.com the Santa Barbara County Planning Commission in California is considering an ordinance that would require MHC owners to file for a closure permit if they are selling their community, and to pay all residents market value for their homes. Commissioner C. Michael Cooney says the measure is …
Selling your LLC? “Buy All the Homes,” says the County Read More
According to Consumer Reports, York International has re-announced a recall of gas furnaces made for manufactured homes following 393 incident calls since the furnaces were manufactured 1995-2000. 336 of the calls have come in since 2004, when the first recall was announced. Sold under the brand names Coleman, Coleman Evcon, …
Frontier Communications Corp. of Stamford, Conn. donated $10,000 to the RV/MH Hall of Fame in Elkhart, Ind. according to RVBusiness. A major provider of communications products to northern Indiana consumers, according to Tom McNulty, executive director and president of the museum, the funds will help maintain the financially struggling facility. …
AZCentral tells MHJProNews.com that Phoenix-based Cavco Industries, Inc. reported at its earnings webcast Feb. 2 its profits mushroomed compared to last year. Net income for the third quarter 2012 which ended Dec. 31 was $1.68 million, or .24 cents a share, as opposed to $24,000 for the same period a …
The amount of finance provided by Fannie Mae and its lenders in 2011 to manufactured housing communities held at around $535 million; essentially the same as in 2010, according to a recent report from the lender. Meanwhile lending to Multifamily Affordable Housing, which provides financing for rent-restricted properties and properties …
Fannie Mae Finances $535 Million in Loans to MH Communities Read More
