MHProNews.com has learned from NationalMortgageNews that Richard Cordray, the new head of the Consumer Financial Protection Bureau (CFPB), says the agency will review procedures used by nonbank mortgagers and servicers beginning next month. Examination procedures have been published, and companies will be notified before the examination to make certain they …
CNBC tells MHProNews.com the Obama administration’s plan to speed-up the housing recovery process may be to sell government-owned foreclosed real estate in bulk to investors who will then rent the properties. Since banks may be reluctant to finance the purchases, the government may offer a subsidy to the investors by …
With President Obama’s questioned recess appointment of Richard Cordray as head of the Consumer Financial Protection Bureau (CFPB), the agency can now implement the full authority of the Dodd-Frank Act, according to BusinessWeek. Dodd-Frank resulted from lawmakers complaining that regulators did not do enough to protect borrowers, and was passed …
With New Director, CFPB May Emerge Swinging—or Not Read More
MhproNews.com has learned from the HuffingtonPost that Federal Reserve Chairman Ben Bernanke says foreclosure is not a good way to deal with delinquent mortgage holders because it leads to deteriorating houses and depression of area home prices. In a report sent to the housing affairs and banking services committees of …
Congress and Republican Presidential hopefuls may be calling for an end to the mortgage giants Fannie Mae and Freddie Mac, but a new White Paper from the Federal Reserve says a larger role is what’s needed. MHProNews.com has learned from CNBC.com that the Fed released the document suggesting Fannie and …
From Housingwire, MHProNews.com has learned that President Barack Obama will install former Ohio Attorney General Richard Cordray as director of the Consumer Financial Protection Bureau. Senators met briefly for a pro forma session Tuesday, although the Senate is currently in recess until Jan. 23. Senate Republicans blocked the appointment early …
Obama to Appoint Consumer Financial Protection Bureau Director Read More
The TCTimes from Fenton, Michigan, just northwest of Detroit, tells MHProNews a resident of Tryone Township is upset that residents pay $150 a year for fire department services, while Sun Communities and another MHC each pay $250 annually for the same services for the entire communities. Scott Dietrich estimates there …
NationalMortgageNews tells MHProNews.com a survey by mortgage lender Lending Tree reveals Americans who can afford to buy homes are putting 12 percent down on average, even more where the property is more expensive. While some regulatory proposals push for down payments of 20 percent in order to be exempt from …
From Oregon and the North Coast Citizen, a letter to the editor shares the pain of Jeff Schlip Nehalem whose son had to find close to $1,500 to pay a tax levied by the school district there in order to place a manufactured home in the district. “Recently my son, …
The Mount Vernon, Illinois, Zoning and Planning Commission is considering an ordinance change that restricts manufactured housing to communities, instead of conditional permit zoning. The Register-News tells MHProNews.com that Mt. Vernon City Councilman David Wood says, “We’re trying to get away from spot zoning,” Wood said. “The way the ordinance …
MHProNews.com has learned from the LosAngelesTimes the owners of the Village Trailer Park in Santa Monica want to develop the 109 home site land lease community (LLC) into a 400,000 square-foot mixed-use retail, residential, and office complex. The four acre community was saved from extinction in 2007, but the owners …
BostonGlobe reports three potential candidates have been identified as possible monitors to make sure banks comply with any settlement of a nationwide foreclosure probe. In the wake of disclosures that mortgage companies were using faulty documents to seize homes during the foreclosure process, all 50 states began investigations. The monitor …
Candidates Being Considered to Monitor Foreclosure Probe Read More
MHProNews has learned that theMHARR Board officials and staff met on December 14, 2011 with Government National Mortgage Association (GNMA) President Theodore W. Tozer to discuss the securitization requirements that have limited FHA (Federal Housing Administration) Title I manufactured housing loans. Currently, GNMA requires a minimum net worth of $10 …
Following up on a story from Dec. 6, 2011, Daily-Times reports from Farmington, New Mexico, the San Juan County Commissioners passed an ordinance requiring new MHC and RV developments to have their waste systems approved by the New Mexico Environment Department (NMED). Dennis McQuillan, Liquid Waste Manager with NMED, says …
A report from MHI in Washington reveals that with partisan tensions easing, congressional negotiators are closer to a year-end deal that would address a range of expiring programs, from the Social Security payroll tax cut that has benefitted approximately 160 million workers, to long-term unemployment benefits, and Medicare payments to …
MHProNews.com has learned the U.S. Department of Housing and Urban Development (HUD) has issued an announcement asking for nominations, with approval of the Secretary, to serve on the Manufactured Housing Consensus Committee. Consensus Committee members serve for a three-year term up to two terms. The 21 voting members are appointed …
Mlive reports a blueberry farmer wants a special permit to house 17 migrant laborers in an 1,820 square foot modular home in Port Sheldon Township in Ottawa County, Michigan. Opponents say it will hurt property values and increase the risk of crime. Someone anonymously distributed fliers in the area that …
Input from manufactured home owners, community operators, and the public at large is sought on the issue of alternative manufactured home placement outside MHCs, according to MySunshineCoast in Australia. Housing Minister Karen Struthers, speaking at the Manufactured Home Owners Consumers Forum, suggests participants weigh in on the recently released discussion …
Following up on a story we published Nov. 28, 2011, MontgomeryAdvertiser reports Federal Judge Myron Thompson issued an injunction Monday against part of the Alabama immigration law that prevents undocumented aliens from entering into any type of business transaction with the state. He called the law “discriminatorily based.” The injunction …
Judge Calls Alabama Immigration Law Discriminatory Read More
According to the News-Journal, a one thousand acre site in Ormond Beach, Florida, is once again rankling feathers. Turned down ten years ago as an MHC, $150,000 homes were supposed to be built, but none were. The developer has returned asking for an amendment to the agreement with Volusia County, …
