In its Mortgage Credit Availability Index, the Mortgage Bankers Association (MBA) reports the index edged up 0.7 percent to a score of 111.5 in October after declining in Aug. and Sept., suggesting mortgage credit may be loosening. Ellie Mae’s president and chief operating officer, Jonathan Corr, says, “ We have …
Rafferty Capital’s Dick Bove says the Dodd-Frank Act, which went into effect in 2010, was intended to pave the way for lower income borrowers to obtain mortgages, but large banks are being shut out of that market, once again leaving those of modest means fewer options for borrowing money. He …
Dick Bove: Dodd-Frank Shutting out Low Income Borrowers Read More
While supporting housing finance system reform, the National Association of Home Builders (NAHB) reiterates that reform must include 30-year, fixed-rate mortgages as well as mortgage financing for multifamily housing. “There are serious doubts on whether a private housing finance system would be capable of supporting this type of product without …
National Association of Home Builders to Congress: Retain 30-Year Mortgage Read More
MHProNews has learned from multihousingnews in an interview at the Urban Land Institute Nov. 7 of Sam Zell, founder of Equity Group Investments and Equity International, by one-time Zell executive and now Green Courte Partners LLC Chairman Randy Rowe, Zell had some pithy insights. He said it’s ok to make …
A regular feature on Google’s search engine page, Google Doodles celebrates anniversaries, occasions and events. Today honors the birth in France on Nov. 5, 1893 of Raymond Loewy, designer of everything from automobiles to Coca-Cola vending machines to cigarette packaging to the Greyhound Scenicruiser, as well as logos for Shell, …
Birthday Today: Raymond Loewy, “Father of Industrial Design” Read More
Due to the generosity of Fairmont Homes of Nappanee, Indiana the RV/MH Hall of Fame and Museum now has a modern manufactured home to display along with all the other exhibits and historical information, according to a press release from the museum. Darryl Searer, president of the RV/MH said Fairmont …
Following a story MHProNews published Oct. 24, 2013 regarding a pilot project to replace ten aging factory-built homes with new energy efficient manufactured homes in Vermont, realestaterama reports the occupants will see an immediate 70 percent reduction in their energy costs. The new dwellings feature triple pane windows, heat recovery …
Project Replaces Aging Dwellings with New Manufactured Homes Read More
Kenneth D. Brown, 79, of Toddville, Iowa, a longtime member of the Iowa Manufactured Housing Association (IMHA) and owner of Bali Hai land lease community in Hiawatha, Iowa passed away Oct. 31. He was also co-owner of Brown and Dyer Construction, with Jim Dyer, and a cattle farmer for many …
According to a recent Pew Research survey, 36 percent of college graduates are moving back in with their parents, unable to find good jobs and saddled with school debt. While they are saving money, it makes it more difficult to establish a credit history, especially if they have missed a …
The Texas Manufactured Housing Association (TMHA) has informed us that long-time TMHA member Bill Kotylo passed away Oct. 28, 2013. In addition to his position as president of the Standard Casualty insurance company in New Braunfels, Texas, he worked tirelessly on behalf of numerous community organizations including the New Braunfels …
Billionaire real estate investor Sam Zell says the trend to defer marriage to later in life has been lucrative for apartments and condos across the nation, saying that has been the most significant reason for the strength of the current multifamily real estate market. While he also noted the hospitality …
Addressing the Mortgage Banker’s Association’s (MBA) annual convention, Rep. Jeb Hensarling (R-Tex), stating the Dodd-Frank Act is the real barrier to mortgage finance reform, says it could raise interest rates from one to four percentage points and reduce the number of mortgages by half. HousingWire reports the chairman of the …
Rep. Jeb Hensarling: Dodd-Frank Extends Woes of Mortgage Finance Industry Read More
Chairman of the National Association of Home Builders (NAHB) Rick Judson commends the bi-partisan support from two Senators and two Representatives for advocating identical legislation providing relief from rising flood insurance premiums. Reps. Michael Grimm (R-N.Y.) and Maxine Waters (D-Calif.) and Sens. Robert Menendez (D-N.J.) and Johnny Isakson (R-Ga.) support …
Rising Flood Insurance Premiums Addressed in Legislation Read More
The members of a panel at the Mortgage Bankers Association (MBA) annual convention say the 30-year fixed rate mortgage (FRM) is so ingrained in the system that removing it would have unintended consequences. William McCue of McCue Mortage says nearly all of his loans are for Federal Housing Administration (FHA)-insured …
FHA’s Carol Galante: Stable Housing Finance Awaits Read More
With more than 30 years of experience as a housing scholar and expert in the field of mortgage finance and housing policy, Kent Colton, president of The Colton Housing Group & Senior Scholar at the Joint Center for Housing Studies at Harvard University, will present “Framing the Future of Housing …
Federal Housing Finance Agency (FHFA) Director Edward DeMarco says he plans to reduce the government service enterprise (GSEs) loan limits which will increase private sector participation in the mortgage market, according to nationalmortgagenews. He also intends to gradually increase the guarantee fees that Fannie Mae and Freddie Mac charge lenders. …
DeMarco will Increase Private Sector Participation Read More
While unemployment fell to a five-year low in September, hitting 7.2 percent, down .01 percent from August, non-farm payrolls rose by only 148,000 jobs. Says Paul Ashworth of Capital Economics, “The unemployment rate keeps edging lower, but the Fed seems to be more focused on the drop-off in the pace …
Employment for Young Renters and Homebuyers Remains Sluggish Read More
DJ Pendleton, executive director of the Texas Manufactured Housing Association, says on Oct. 1 the Consumer Financial Protection Bureau (CFPB) clarified the rules defining what is considered a mortgage loan originator and what is not. A retail employee can only provide general information about buying a manufactured home. A more …
Will the CFPB Please Stand for Affordable Housing? Read More
When hearing of the need of older military veterans for housing, former Green Beret and successful home builder Richard Simonian took up the challenge and now has 7,000 homesites in 40 manufactured housing communities across the western U. S. that openly caters to veterans. As lakecountrysun.com reports, John Stryker Meyer, …
Builder Provides Manufactured Housing for Fellow Vets Read More
Allegations of sexual discrimination against a recreational vehicle community in Texas has led to a lawsuit filed by the U. S. Department of Justice against owner George Toone and In Toone Services. The suit alleges Toone evicted a transgender woman and her partner Aug. 18, 2012 after handing them a …
