American author, salesman, and motivational speaker Hilary Hinton “Zig” Ziglar, who inspired millions, rubbed shoulders with U.S. presidents, and shared multiple stages other luminaries, died Nov. 28 in a Texas hospital of pneumonia at age 86, according to Wikipedia. A salesman for many years following his military service in World …
A complaint filed last June by a Texas bank and two non-profit organizations challenged the validity of Richard Cordray’s recess appointment as head of the Consumer Financial Protection Bureau (CFPB) because the Senate was technically not in recess, according to HousingWire. The bank, State National, contends the CFPB’s Unfair, Deceptive …
GuruFocus reports Sam Zell of Equity Group Investments, presenting at Chicago’s Invest for Kids conference, says the Eurozone is heading for a recession because the currency is imploding. One of the world’s most successful real estate investors, he says the will to embrace austerity measures in the U.S. in order …
According to usgovinfo, a recent report from the Government Accountability Office (GAO) says the air quality in manufactured housing may be compromised by carbon monoxide entering the homes. GAO says the problem stems from fresh air intake and exhaust vents constructed too close together, which could allow CO2 and other …
Global financial services firm Morgan Stanley and non-profit National Equity Fund, Inc. (NEF) have added $75 million to their joint Rebuilding Local Economies Fund to help provide replacement housing for victims of Hurricane Sandy, according to BusinessWire. Designed to jump-start economic activity with developmental assistance, the fund finances affordable housing …
For Profit and Non-profit Collaborate To Alleviate Storm Damage Read More
Housing industry analysts are skeptical about whether the construction that will result from Hurricane Sandy will offset the property damage that occurred. NationalMortgageNews reports Ken Simonson, president of the National Association for Business Economics and chief economist at the Associated General Contractors of America, does not regard it with much …
Will Sandy’s Destruction Spur Re-construction on the East Coast? Read More
HousingWire reports Raj Date, deputy director at the Consumer Financial Protection Bureau (CFPB) will be leaving his post next year. As industry expert and consumer advocate, Date was the acting director from the inception of the agency in July 2011 until Richard Cordray took over the position. Mortgage Bankers Association …
NNMoney reports the latest twist on Craigslist is people looking for co-signers on loans because they do not have good enough credit on their own. A would be borrower in Ohio is offering a tractor and a car as collateral for someone to co-sign a $5,000 personal loan. A student …
MHI Dodd-Frank CFPB Activities Update MHI Prepares for Lame Duck Session of Congress Regardless of the outcomes of the November 6th Presidential and Congressional elections, the House and Senate are guaranteed to return post-election to continue work on a number of tax, appropriations and spending issues. It is unclear what …
HousingWire reports in the wake of the financial meltdown, the nation gained 4.8 million renters in the last six years while losing 1.7 million owner households, according to the Mortgage Bankers Association (MBA). In the housing finance sector, the MBA predicts mortgage originations will hit $1.7 trillion in 2012, an …
MBA Prognosis: Slow Crawl to Health with Potential Busted Knees Read More
Despite calls by analysts and policy makers following the recent crash to get the government out of the housing business, Kerri Ann Panchuk of HousingWire says the GSEs still account for 85-95% of the outstanding mortgage loans, securitized and unsecuritized. Plus there is a myriad of programs to help homebuyers—Home …
WASHINGTON – U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan announced today that 17 communities across the U.S. will receive Choice Neighborhoods Planning Grants. The $4.95 million awarded today provides these communities the resources they need to craft comprehensive, community-driven plans to revitalize public or other HUD-assisted housing and transform distressed neighborhoods. Read …
HUD Program Ignores MHCommunities and our Industry Again Read More
In his review of Stanley Kurtz’s Spreading the Wealth: How Obama is Robbing the suburbs to Pay for the Cities, Eric Miller notes in Sustainable City News how the right has set up a straw man just to smash it down. Miller points out the suburbs were subsidized in the …
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Richard E. Mourdock, Treasurer, State of Indiana and GOP Candidate for United States Senate.
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In his take on the presidential debate Wed. night, Paul Muolo of OriginationNews notes Romney peppering Obama about the Qualified Mortgage rule that awaits finalization by the Consumer Financial Protective Bureau. MHProNews has learned Muolo finds it impressive that Romney knows what a QM is, and suggests Obama likely does …
Testifying before the office of the U. S. Trade Representative in Washington, D.C. the National Association of Home Builders’ (NAHB) CEO Jerry Howard urged the federal government to avoid involving the U.S.-Canada softwood lumber accord in the Trans-Pacific Partnership Trade Agreement (TPP) talks. “Reopening the U.S.-Canada softwood lumber agreement would …
CFPB Opposes 20 Percent Down Payment, Won’t Abuse Powers: Cordray The Consumer Financial Protection Bureau (CFPB) will not mandate a 20 percent down payment in new underwriting rules for low-risk loans, agency head Richard Cordray testified before the Senate Banking Committee on Sept. 13. The declaration was in response …
American Banker reports Richard Cordray, head of the Consumer Financial Protection Bureau (CFPB), stated the agency will not mandate a 20 percent down payment in new underwriting rules for low-risk loans. Testifying before the Senate Banking Committee Sept. 13, he was responding to a question about the CFPB’s qualified mortgage …
Attached is a September 10, 2012 MHARR letter to Rep. Darrell Issa (R-CA), Chairman of the House of Representatives Oversight and Government Reform Committee, responding to a June 20, 2012 letter from the Chairman inviting MHARR to provide information to the Committee regarding regulatory activity that negatively impacts job growth …
MHARR CONGRESSIONAL INTERVENTION AND OVERSIGHT — STATUS REPORT Read More
Joe Kelly, executive vice-president of the Iowa Manufactured Housing Association (IAMHA), informs MHProNews that the Iowa Department of Revenue has notified local governments that land lease communities are not structured to qualify as co-ops under Iowa Code 499A. As a residential classification, co-ops pay only about half the taxes of …
