MHMSM.com presents Factory Built Housing Industry News at Noon with Erin Patla. We begin with these stories: AN EXTENSION to the SBA floor plan lending program is included as part of the Small Business Jobs Act, HR 5297 that passed a key vote in the Senate this week. Elizabeth Shappell …
More than ten years of federal preemption bolstered by the Manufactured Housing Improvement Act (MHIA) of 2000 – and it remains untested as to whether the HUD code preempts local regulations including zoning and aesthetic requirements. MHIA was said to have bolstered the reach of federal preemption and to have …
Experts Say Full Power of Federal Preemption Unrealized Read More
MHMSM.com presents Factory Built Housing Industry News at Noon with Erin Patla. We begin with these stories: THE SENATE VOTED TUESDAY by a 61-to-37 margin to move the $42 billion Small Business Jobs Act forward, which means back to the House of Representatives for approval before it reaches President Obama’s …
I’m Joe Kelly, Executive Vice President of the Iowa Manufactured Housing Association (IMHA), a 63-year-old trade association located in Des Moines, Iowa.
J.D. Harper
Executive Director
Arkansas Manufactured Housing Association
MHMSM.com presents Factory Built Housing Industry News at Noon with Erin Patla. We begin with these stories: IN AN EFFORT TO INFORM the current discussion on the future of the housing finance system, the Federal Housing Finance Agency (FHFA) released data on Fannie Mae and Freddie Mac Monday that compare …
Over the past week, the Federal Housing Administration has issued two mortgagee letters implementing changes to the traditional FHA Single Family Mortgage Program (Title II).
Minimum Credit Scores and Loan-to-Value Ratios
On September 3, 2010, HUD released Mortgagee Letter 2010-29, Minimum Credit Scores and Loan-to-Value Ratios, which changes minimum credit scores and loan-to-value (LTV) ratios for FHA insured Single Family Mortgages effective October 4, 2010. Borrowers with a credit score below 500 will not be eligible for FHA-insured mortgage financing. Borrowers with a credit score between 500 and 579 will be limited to 90 percent LTV, which will require a 10 percent down payment. Borrowers with a credit score of 580 or higher are eligible for maximum financing, which requires a minimum 3.5 percent down payment. Borrowers with nontraditional credit histories may be eligible for maximum financing. The letter does not make any changes to the seller concession caps at this time. Click here to view Mortgagee Letter 2010-29: Minimum Credit Scores and Loan-to-Value Ratios
MHMSM.com presents Factory Built Housing Industry News at Noon with Erin Patla. We begin with these stories: ABOUT HALF OF AMERICANS who claimed the tax credit on their 2009 tax returns will have to return the money. According to the Treasury Inspector General for Tax Administration (TIGTA), the Housing and …
Many states and municipalities are currently faced with sprinkler mandates for newly-constructed, single-family housing, including manufactured housing. The International Residential Code (IRC), including the fire sprinkler requirement, has been adopted by California, Pennsylvania, Maryland and South Carolina, with many other states and local jurisdictions planning to consider this requirement when …
MHMSM.com presents Factory Built Housing Industry News at Noon with Erin Patla. We begin with these stories: THERE IS NO SIGNIFICANT DIFFERENCE between the rates of crime in manufactured home communities relative to other residential areas, so concluded William P. McCarty, assistant professor in the Department of Criminology, Law and …
MHMSM.com presents Factory Built Housing Industry News at Noon with Erin Patla. We begin with these stories: SEVERAL STATE ASSOCIATIONS have launched an exploratory effort to look into whether the industry could benefit from additional lobbying help in Washington. A high-profile lobbyist could both help provide a unified voice and …
MHMSM.com presents Factory Built Housing Industry News at Noon with Erin Patla. We begin with these stories: THE COMMERCE DEPARTMENT’S U.S. Census Bureau released data Tuesday on new residential construction in July 2010. Permits for new housing units declined 3.1 percent in July. An Associated Press article noted that was …
Several state associations have launched an exploratory effort to look into whether the industry could benefit from additional lobbying help in Washington. A high-profile lobbyist could both help provide a unified voice and aid in making sure legislation doesn’t lose its intent in the regulatory process. “I’ve talked to our …
States Taking Initiative to Explore Idea of Additional Lobbying Help Read More
MHMSM.com presents Factory Built Housing Industry News at Noon with Erin Patla. We begin with these stories: GLOOM ABOUNDS in the national housing market, but the Christian Science Monitor recently featured profiles of six cities in a housing bloom of sorts. They include Decatur [deh-KAY-tur], Illinois, where employment is starting …
MHMSM.com presents Factory Built Housing Industry News at Noon with Erin Patla. We begin with these stories: THE AGE OF THE McMANSION is apparently over. Some towns have passed ordinances against the lot-engulfing giants, but the end may have come from within as a result of changing consumer preferences and …
MHMSM.com presents Factory Built Housing Industry News at Noon with Erin Patla. We begin with these stories: BANKING EXECUTIVES WERE IN WASHINGTON Tuesday to weigh in on the future of Fannie Mae and Freddie Mac. Reports indicated the group overwhelmingly advocated the government should maintain a large role propping up …
MHMSM.com presents Factory Built Housing Industry News at Noon with Erin Patla. We begin with these stories: BUILDER CONFIDENCE in the market for newly built, single-family homes edged down for a third consecutive month in August, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI), …
MHMSM.com presents Factory Built Housing Industry News at Noon with Erin Patla. Coming up – Manufactured Home Sales Rise We begin with these stories: IF YOU’RE CONCERNED your carbon footprint is too big, Clayton Homes has an answer. Popular Mechanics recently ran a feature on Clayton homes I-House. I-House is …
MHMSM.com presents Factory Built Housing Industry News at Noon with Erin Patla. Coming up – 5,430 New HUD Code Homes Shipped in June 2010, up 21.8 Percent from June 2009 But first…these stories: Area sales up sharply as more people turn to manufactured housing theDestinLog.com Destin, Florida Overall home sales …
Area sales up sharply as more people turn to manufactured housing Read More
MHMSM.com presents Factory Built Housing Industry News at Noon with Erin Patla. Coming up – Manufactured Home Sales Rise But first…these stories: 8,300 hazard alert radios available to needy Hoosiers Journal Gazette INDIANAPOLIS. The Indiana Department of Homeland Security announced Tuesday it has partnered with local emergency management agencies to …
8,300 hazard alert radios available to needy Hoosiers Read More
