Consumer Financial Protection Bureau Warns – “Over 11 Million Families At Risk of Losing Housing,” Manufactured Home Residents Particularly Threatened, Says CFPB – plus Manufactured Home Investing, Stock Updates

DowJonesDailyMarketTicker3.1.2021YahooMHProNewsThe Consumer Financial Protection Bureau (CFPB) issued a news release earlier today – 3.1.2021 – to MHProNews.

The CFPB media memo stated the following.

 

FOR IMMEDIATE RELEASE:
March 1, 2021

MEDIA CONTACT:
Office of Communications
Tel: (202) 435-7170

NEW REPORT FROM CONSUMER FINANCIAL PROTECTION BUREAU FINDS OVER 11 MILLION FAMILIES AT RISK OF LOSING HOUSING

Federal foreclosure moratorium slated to end June 30, 2021

WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) issued a report that warns of widespread evictions and foreclosures once federal, state, and local pandemic protections come to an end, absent additional public and private action. Over 11 million families are behind on their rent or mortgage payments: 2.1 million families are behind at least three months on mortgage payments, while 8.8 million are behind on rent. Homeowners alone are estimated to owe almost $90 billion in missed payments. The last time this many families were behind on their mortgages was during the Great Recession.

“We have very little time to prevent millions of families from losing their homes to eviction and foreclosure,” warns CFPB Acting Director Dave Uejio. “At the CFPB, we are working hard to help homeowners and renters as the U.S. begins to turn a painful crisis, caused by the pandemic, into a robust recovery.  We know small landlords are struggling, too, with many dipping into savings or using credit cards to make it through the pandemic. We want everyone—homeowners and renters, landlords, and mortgage servicers—to have the tools they need now to avoid unnecessary evictions and foreclosures.”

The Federal government is going to great lengths to protect homeowners and renters. Recent actions by the Federal Housing Finance Agency, the Federal Housing Administration, the Department of Veterans Affairs, and the U.S. Department of Agriculture prohibit lenders from foreclosing on most mortgages until June 30, 2021. After that date, families who cannot resume making regular payments will need to make an agreement with their lender to avoid foreclosure. Residential eviction protections for renters are extended through March 31, 2021.  U.S. families suffering from the economic impacts of the pandemic are at enormous risk of losing their housing.  According to the CFPB report:

  • Black and Hispanic families are more than twice as likelyto report being behind on housing payments than white families.
  • While mortgage forbearance – the option to pause or reduce payments temporarily – has dropped foreclosures to historic lows, 1million homeowners are more than 90 days behind on payments and are likely to experience severe financial hardship when payments resume. Of these families, an estimated 263,000 families are seriously behind on their mortgages and not in forbearance, putting them at higher risk of foreclosure once federal and state moratoria end.
  • 9 percent of renters, who do not have the same protections or options as homeowners, report that they are likely to be evicted. Black and Hispanic households are more likely to report being at risk.
  • 28 percent of manufactured home residentsreported being behind on their housing payments, compared to 12 percent of single-family home residents, and 18 percent of residents in small-to-mid-sized multi-unit buildings.

The CFPB is committed to using all of its authorities to help homeowners and renters as they face the ongoing economic impact of the pandemic. …

##

The Consumer Financial Protection Bureau is a 21st century agency that helps consumer finance markets work by making rules more effective, by consistently and fairly enforcing those rules, and by empowering consumers to take more control over their economic lives. 

###

MortgageLoansInForebareanceByLoanTypeJan2021CFPBLogoMHProNewsUnemploymentByRaceCFPBJan-Dec2020ResearchPerStLouisFederalReserveCFPBLogoMHProNewsLOGO

Fig5SeriousMortgageDeliquencyRateLoanTypeFHAAllOansCFPBLogoMHProNewsLOGO

The graphics above and below are part of a related attachment from the CFPB, but where not part of the formal press release. They are not shown in the same order as the CFPB organized it.

Fig3ShareRentalHouseholdsBehindRentByIncomeDec9-Dec21.2020CFPBLogoMHProNewsLogo

Fig2YearEndMortgageDeliquency2019vs2020CFPBlogoMHProNewsLogo

 

The manufactured housing portion of the CFPB report will be our featured focus tonight.

 

For our growing numbers of new readers, as well as a reminder to those returning daily, a few quick evening/nightly market report insights.

  • Every business evening, MHProNews provides a bullet list of left-right news headlines from CNN and in a matter of moments, savvy professionals can see at a glance news headlines and views across the political spectrum.
  • This is a time saving and insightful way to quickly grab insights from across the left-right divide for those who are hooked on this market-nightly feature.
  • Our featured focus follows the quotable quotes, periodic political cartoons, those left-right headlines, and two of our three market summary graphics as reported at the closing bell.
  • After the featured focus, are some recent/related report links and the third manufactured housing focused stock equities graphic. There are some additional items that include the free signup for the manufactured housing industry’s x2 weekly emailed news to the most-read trade publication in our profession:

On a day that saw most manufactured home connected equities rise today, let’s press ahead toward the CFPB insights on manufactured housing in their new report.

 

Quotes That Shed Light – Industry, American, Social, National Issues

CDCFederalEvictionMoratoriumStruckDownByFederalJudgePlusManufacturedHomeInvestingStockUpdatesMHProNews
https://www.manufacturedhomepronews.com/cdcs-federal-eviction-moratorium-struck-down-by-federal-judge-plus-manufactured-home-investing-stock-updates/

WeMustRememberThatRegardlessofColororCreedWeAreAllAmericansFirstDonaldJTrumpQuoteFoxNewsLogoMHProNewsLogo

NewHomeSalesSoarHigherJanuary2021WhatsHotWhatsNotReportplusManufacturedHomeInvestingStockUpdatesMHProNews
https://www.manufacturedhomepronews.com/new-home-sales-soar-higher-in-january-2021-whats-hot-whats-not-report-plus-manufactured-home-investing-stock-updates/

Headlines from left-of-center CNN

  • The new bogeyman
  • People walk by the New York Stock Exchange (NYSE) on Wall Street in New York.
  • Daily life, New York, USA – 25 Feb 2021
  • Covid-19 is no longer Wall Street’s biggest concern. Now, the focus is on bonds and inflation
  • The Dow rallies as bond yields pull back and take a breather
  • The Oracle of Omaha cautions “bonds are not the place to be these days”
  • These stocks are set to benefit as people get vaccinated and start to hit the road again
  • Exxon aims to quell shareholder revolt by adding activists to board
  • Wall Street is kicking out yet another big Chinese company
  • They are convinced Trump will be president again on March 4
  • Biden throws support behind Amazon workers holding milestone union vote
  • Rocket Lab joins the SPAC craze
  • Former New York Times reporter breaks silence after being ousted amid racial slur controversy
  • Top European media outlet refuses to join Facebook News
  • Budweiser Select is making a comeback as light beer sales surge
  • Highways that destroyed Black neighborhoods are crumbling. Some want to undo that legacy
  • A Boeing 737 MAX airliner with United Airlines markings is pictured at the Boeing Factory in Renton, Washington on November 18, 2020. US regulators on November 18 cleared the Boeing 737 MAX to return to the skies, ending its 20-month grounding after two fatal crashes that plunged the company into crisis.
  • United, predicting a rebound in travel, buys 25 Boeing 737 Max jets
  • WASHINGTON, DC – OCTOBER 13: Warren Buffett speaks onstage during Fortune’s Most Powerful Women Summit – Day 2 at the Mandarin Oriental Hotel on October 13, 2015 in Washington, DC.
  • Warren Buffett admits to a rare ‘mistake’
  • The maker of a $2,995 home gym is opening up shops in Nordstom stores

Headlines from right-of-center Newsmax

  • After Biden Eases Rules, Migrants Stream Across Southern Border
  • Asylum seekers from a migrant camp of at least 700 in Matamoros, Mexico, just across the river from Brownsville, Texas, have been filing into the United States after President Joe Biden overturned his predecessor Donald Trump’s tough immigration policies.
  • The Biden Presidency
  • Senate Panel OKs Garland’s Nomination as AG
  • Elizabeth Warren Proposing 2 Percent Wealth Tax
  • Report: US Wasted Billions on Cars, Buildings in Afghanistan
  • After Biden Eases Rules, Migrants Stream Across Southern Border
  • Tom Cotton Slams Coronavirus Bill as Political Payoff
  • Biden Planning Far Wider Package After $1.9T Stimulus
  • Biden Supports Right of Amazon Workers to Organize Union
  • Ex-DHS Chief Wolf: Biden Border Actions ‘Absurd’
  • Iran Dismisses Idea of Talks With Biden to Revive Nuclear Deal
  • Newsfront
  • Trump to Newsmax TV: ‘Can’t Imagine’ Someone Else Winning 2024
  • Former President Donald Trump, while praising the enthusiastic reaction from the crowd at the Conservative Political Action Conference’s audience to his speech, told Newsmax TV that he doesn’t like to “play games” about…
  • Related Stories
  • Trump to Newsmax TV: Liz Cheney a ‘Hopeless Case,’ Georgia’s Kemp ‘Sad’
  • Trump, First Lady Were Vaccinated at WH in January
  • After delivering vaccines faster than his critics expected, or even
  • More Than Two-Thirds of Conservative Academics Report Political Bias
  • CDC Backs J&J’s COVID-19 Shot as Vaccine Almost Ready to Ship
  • A U.S. Centers for Disease Control and Prevention advisory panel
  • Related
  • CEO: New Vaccine to Be Available in 1-2 Days
  • Countries Call on Drug Companies to Share Vaccine Know-How
  • Israeli Supreme Court Bans Unlimited COVID-19 Mobile Phone Tracking
  • Whitmer’s Cuomo Problem: Nursing Homes
  • Whitmer’s Cuomo Problem: Nursing Homes
  • Eight state senators in Michigan are pushing for an investigation
  • Climate Change Agenda Leading to Catastrophe
  • Ron DeSantis Targets Foreign Influence, CCP in Florida Bill
  • Pelosi on Cuomo Sexual Harassment Allegations: They’re ‘Credible’
  • Trump: Request for 10K Guard Troops Rejected Days Before Riot
  • AG Sues Texas Utility Over Customers’ Sky-High Energy Bills
  • Former French President Sarkozy Convicted of Corruption, Handed Jail Sentence
  • Google Is Paying for More Information in Break With Its Past
  • Goya Foods Boycott Calls Renewed After CEO’s Speech at CPAC
  • Supreme Court Could Put New Limits on Voting Rights Lawsuits
  • Walmart Moves Toward Banking With Goldman Hires
  • Del Villar: Fintech, RobinHood Testimony Shows Left’s Contempt for Markets, Little Guy
  • AstraZeneca Sold Out of Vaccine Maker Moderna Last Year
  • WSJ: Fed’s Thomas Barkin Says ‘Daylight on the Horizon’ for US Economy
  • Amazon Union a Tough Sell in Town Where $15 an Hour Goes a Long Way
  • Obesity Reduces COVID-19 Vaccine Effectiveness: Study
  • Flu Vaccinations Reach Record High This Season
  • The Amazing Health Benefits of Castor Oil
  • Study: 5 Servings a Day of Fruits and Vegetables Increase Longevity
  • Experts Warn Against At-Home Coronavirus Treatments

Market Indicator Closing Summaries – Yahoo Finance Closing Tickers on MHProNews…

Yahoo9ClosingStocksEquitiesMoneyMarketIndicators3.1.2021MHProNews

Featured Focus –
Where Business, Politics and Investing Can Meet

Per the CFPB report linked here, the “Housing Insecurity and the COVID-19 Pandemic,” is this segment that is manufactured home specific.

 

“Manufactured housing

The 22 million Americans living in manufactured homes face greater housing security risk than those living in other forms of housing during the COVID-19 pandemic.32 As of December 2020, 28 percent of residents of manufactured homes reported being behind on their housing payments compared to 12 percent of single-family home residents, and 18 percent of residents in small-to-mid sized multi-unit buildings (Figure 13).

Figure13ManufacturedHomesVsSingleFamilyMultiFamilyHousingMHProNews

Both homeowners and renters living in manufactured homes are generally more economically vulnerable. On average, they have lower incomes (Figure 14), and are more likely to work in occupations affected by the pandemic.33

 

Figure14ManufacturedHomesVsSingleFamilyMultiFamilyHousingByIncomeMHProNews

 

Additionally, most owners of manufactured homes do not have CARES Act covered mortgages securing their homes. Many owners of manufactured homes finance their purchase with personal property loans instead of mortgage loans, the majority of which are not covered by the CARES Act. And even homeowners that do use traditional mortgages are less likely to obtain federally-backed ones. Outside of the CARES Act, homeowners that use personal property loans to purchase their homes have fewer consumer protections than those using a mortgage.34 These protections can make these homeowners more vulnerable in the case of foreclosure or repossession.”

##

 

While it may be useful that manufactured housing data was included, it is worth noting that CFPB, for whatever reason, placed the manufactured housing related data near the end of their report. MHProNews plans to revisit this and unpack it in the near term.

See recent and related reports for more.

 

Related, Recent, and ‘Read-Hot’ Reports

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https://www.manufacturedhomepronews.com/billionaire-covid19-profiteers-seek-to-silence-critics-never-let-a-serious-crisis-go-to-waste/

Manufactured Housing Industry Investments Connected Closing Equities Tickers

Some of these firms invest in manufactured housing, or are otherwise connected, but may do other forms of investing or business activities too.

                  • NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services, a manufactured home industry lender
                  • NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).
                  • NOTE: Deer Valley was largely taken private, say company insiders in a message to MHProNews on 12.15.2020, but there are still some outstanding shares of  the stock from the days when it was a publicly traded firm.  Thus, there is still periodic activity on DVLY.

 

ManufacturedHomeCommunitiesMobileHomeParksFactoriesProductionSuppliersFinanceStocksEquitiesClosingInfo3.1.2021

Winter 2021

Berkshire Hathaway is the parent company to Clayton Homes, 21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers.
· LCI Industries, Patrick, UFPI, and LP each are suppliers to the manufactured housing industry, among others.
· AMG, CG, and TAVFX have investments in manufactured housing related businesses. For insights from third-parties and clients about our publisher, click here.
Enjoy these ‘blast from the past’ comments.

MHProNews. MHProNews – previously a.k.a. MHMSM.com – has celebrated our 11th year of publishing, and is starting our 12the year of serving the industry as the runaway most-read trade media.

Sample Kudos over the years…

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It is now 11+ years and counting…and Williams, who praised our accuracy and other services to manufactured housing for years, then said this.

Learn more about our evolutionary journey as the industry’s leading trade media, at the report linked below.

· For expert manufactured housing business development or other professional services, click here.
· To sign up in seconds for our industry leading emailed headline news updates, click here.

Disclosure. MHProNews holds no positions in the stocks in this report.

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That’s a wrap on this installment of “News Through the Lens of Manufactured Homes and Factory-Built Housing” © where “We Provide, You Decide.” © (Affordable housing, manufactured homes, stock, investing, data, metrics, reports, fact-checks, analysis, and commentary. Third-party images or content are provided under fair use guidelines for media.) (See Related Reports, further below. Text/image boxes often are hot-linked to other reports that can be access by clicking on them.)

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Notice, this photo was taken before several on Fox News took a turn away from more right-leaning reporting to more left-leaning or anti-Trump views.

By L.A. “Tony” Kovach – for MHLivingNews.com.
Tony earned a journalism scholarship and earned numerous awards in history and in manufactured housing. For example, he earned the prestigious Lottinville Award in history from the University of Oklahoma, where he studied history and business management. He’s a managing member and co-founder of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com. This article reflects the LLC’s and/or the writer’s position, and may or may not reflect the views of sponsors or supporters.

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