MHProNews has learned from nationalmortgagenews Idaho Republican Senator Michael Crapo, who is becoming the ranking member of the Senate Banking Committee, enumerates his top priorities in his new position as revising portions of the Dodd-Frank Act; paring down GSEs role in the mortgage industry and moving to a private sector …
Late last week, the legality of recess appointments made by the Obama administration to the National Labor Relations Board (NLRB) was called into question. Specifically, the U.S. Court of Appeals for the D.C. Circuit ruled that Obama did not have the authority on January 4, 2012 when he filled …
CFPB and Dodd-Frank Regulatory Update On January 10th, the Consumer Financial Protection Bureau (CFPB or the Bureau) unveiled the first round of final mortgage finance rules required under the Dodd-Frank Act. These rules govern a variety of mortgage activities of key concern to the manufactured housing industry. Over the coming …
The National Association of Home Builders (NAHB) informs MHProNews multifamily will continue to lead the recovery of the overall housing market in the coming years, now standing at 70 percent of the way back to a sustainable level. NAHB Chief Economist David Crowe says, “We are forecasting construction of 299,000 …
SeekingAlpha, noting trends in the global economy, picks out five stocks it says will be lucrative in the long run, and one of them is Berkshire Hathaway (BRK-A, BRK-B). As the housing market continues to recover, columnist Frank J. Constantino says Berkshire does has a broad range of investments, but …
Two new Industry in Focus reports drew cheers from numerous industry business and association leaders from coast to coast. Sources close to George F. Allen and Danny Ghorbani whispered they met the reports with jeers – and in concert with their close knit group of cross-promoters – are already discussing …
by L. A. ‘Tony’ Kovach MHProNews has spoken with the Manufactured Housing Institute (MHI) President and CEO Richard “Dick” Jennison about the subject of a possible new industry association. When asked about MHI’s take on the matter, Jennison stated: “Once something is formalized regarding a possible new association, meaning the …
Report and Analysis In This Report: December 13, 2012 While most in the industry, in order to deflect from their own responsibility for manufactured housing’s decline and continuing sluggish recovery, will undoubtedly fixate on the relatively insignificant factual errors contained in a December 12, 2012 Wall Street Journal article titled …
Wall Street Journal Article Exposes Flowed Industry Approach In The Nation’s Capital Read More
by L. A. ‘Tony’ Kovach “We provide, you decide” on the facts and analysis that follows about what many would deem thinly veiled threats. When a national trade association Senior Vice-President sends a message that CC’s it’s President and CEO, it is logical to presume that the CEO OK’d the …
The initial segment of the federal government’s 2013 Semi-Annual Regulatory Agenda (SAR), detailing the pending and anticipated rulemaking activities of the various federal agencies, was published in the January 7, 2013 edition of the Federal Register. As usual, the SAR includes significant information relevant to regulation of the manufactured housing …
Federal Semi-annual Regulatory Agenda – January 8, 2013 Read More
An industry insider has provided MHProNews with an exclusive of their flash report on the QM rules issued by CFPB yesterday. There was an 804 page Ability to Repay (“QM”) Rule issued on 1.10.2013 by the Consumer Financial Protection Bureau (CFPB), along with the 431 page High-Cost Mortgage (HOEPA – …
MH Industry Insider Perspective: Flash Report on QMs…Not good! Read More
The Manufactured Housing Institute (MHI) informs MHProNews that on Dec. 17th MHI staff and members of the manufactured housing industry met with Consumer Financial Protection Bureau (CFPB) Director Richard Cordray and staff members to push for housing finance rules that take into account the special challenges of the MH market. …
According to standardmedia in Kenya, Africa, the National Housing Corporation (NHC), a division of the Ministry of Housing for 49 years (since independence) has only been able to erect 50,000 units of affordable housing per year while the need is for 200,000. NHC is now preparing to build panelized homes …
CFPB, Dodd-Frank and Financial Services Update MHI Continues to Lead the Manufactured Housing Industry’s Charge for Regulatory Relief On December 11th, MHI members participated in a special briefing from the Consumer Financial Protection Bureau (CFPB), Federal Housing Finance Agency (FHFA), Office of the Comptroller of the Currency (OCC), Federal Depository …
According to a new survey of 48 professional forecasters by the National Association of Business Economics, residential investment is finally contributing to economic growth. Nationalmortgagenews informs MHProNews home purchases and residential construction grew by 12 percent in 2012 as opposed to 2011 when growth was negative -1.4 percent, and is …
At the top of the Manufactured Housing Institute (MHI)’s Week in Review newsletter Dec. 14, 2012, is news of a scam that some of the Congress and Expo’s exhibitors have received. Purporting to be part of MHI, Construct Data Publishers offers a listing in a “FAIRGuide” and a free listing …
Notching the largest block of its own stock the company has ever bought, Warren Buffett’s Berkshire Hathaway (BRKA) bought 9,200 shares for $1.2 billion from the estate of a long-time shareholder. At $131,000 per share, it’s roughly 118 percent of the book value as of the end of the third …
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
Bloomberg reports Marilyn Cotterman of Brownsburg, Ind. put $40,000 in a self-directed IRA that allowed her to invest in manufactured housing, earning a multiple of the original investment in three years. As a Roth Ira, gains and income accrue tax free providing you do not benefit in any financial way …
A Cup of Coffee with…Don Glisson, Jr.
1) Who, What and Where: (Your name and your role/job title at Triad Financial Services).
Don Glisson, Jr., Chairman and CEO Home of Triad Financial Services. Home office in Jacksonville, Florida with branch locations in Bourbonnais, IL, Newport Beach, CA and Wichita, KS.
