From Iowa, the Press-Citizen reports that new legislation addresses abuses tied to sales and living conditions in the state’s oldest manufactured homes reported in a Des Moines Register investigative series over the past year. The report indicates key provisions of the bill include sweeping changes in how much information community …
Iowa Bill Would Give MH Owners Additional Protections Read More
According to CNN Money, the tab to bail out Fannie and Freddie will continue to grow, says the Federal Housing Finance Agency (FHFA), which oversees the duo. It says the estimated costs through 2013 could increase by as much as $210 billion, that on top of the blank check that …
On Feb. 11 the Obama Administration offered a plan to reform the mortgage finance industry. It would involve shrinking Fannie Mae and Freddie Mac at 10 percent per year, requiring a down payment of at least 10 percent for Fannie and Freddie loans, and making other changes to help increase …
Delaware House Bill 392, enacted in July 2010, requires a manufactured housing community to have a community center available for its residents. As reported in the DelawareOnLine News Journal of February 9, in an August 2010 meeting with state legislators, a homeowners association (HOA) president claimed his community did not …
The Manufactured Housing Institute (MHI) says it is urging Congress to support the use of a rental voucher for the full cost of purchasing a manufactured home sited on leased land, by permitting funds to be used for both the cost of leasing the land, and for the monthly home …
A decision by the Supreme Judicial Court of Massachusetts will void the seizure of two homes by Wells Fargo and US Bancorp. CNBC reports the unanimous decision holds that the banks lacked authority to foreclose on two houses they seized back in 2007. The court held that the plaintiffs had …
Rep. Michele Bachmann (R-Minn.) introduced legislation Wednesday that would repeal the Dodd-Frank Wall Street Reform and Consumer Protection Act. The bill, which President Obama signed into law in July, represents the most extensive overhaul of financial regulations since the Great Depression. Bachmann says the law grossly expanded the federal government …
Housingwire.com reports a new bill awaiting President Obama’s signature would expand tax exemptions for stock in REITs. While some of the return in REITs is already tax-free, Housingwire says the new legislation would promote foreign money being put into REITs. The Real Estate Jobs and Investment Act of 2010 amends …
From Missouri, Knox.com reports about an effort underway to keep manufactured homes and other personal property items from being subject to a tax. According to the report, Richard LaViolet has approval from the Secretary of State to begin collecting signatures for a constitutional amendment that would do away with Missouri’s …
Missouri Man Goes to Battle with Tax on Manufactured Homes Read More
Last week, President Obama announced that the Administration and congressional Republicans had arrived at a “bipartisan agreement” to extend Bush-era tax cuts for two years, jobless benefits for 13 months, and other tax incentives to support business expansion. The Manufactured Housing Institute reports the compromise measure includes an extension of …
MHI Urges Congress to Enact Middle Class Tax Cut Bill Read More
The Manufactured Housing Institute (MHI) held an information-providing webinar on Thursday concerning its top legislative priority in the coming year, the Dodd-Frank Wall Street Reform and Consumer Protection Act. The law is considered the most comprehensive rewrite of rules governing banking and financial services in decades and is expected to …
Dodd-Frank Bill Could Create Additional Barriers to Financing Read More
By Office of Congressman Spencer Bachus Congressman Spencer Bachus (AL-6), Chairman-elect of the House Financial Services Committee, announced his appointments for committee leadership positions in the 112th Congress Thursday. In addition to naming the vice chairman and subcommittee leaders, Bachus announced plans to modify subcommittee jurisdictions to promote a more …
Bachus Announces Financial Services Leadership Team Read More
With plans to change the Mortgage Interest Deduction (MID) being presented to Congress in hopes of reducing the federal budget deficit, MHMSM.com, along with homebuilders, industry and realtor groups is urging the maintenance of the benefit in its full potency. “The owners of manufactured homes, like all homeowners, benefit from …
MHMSM.com Urges Preservation of Mortgage Interest Deduction Read More
The Indiana Department of Financial Institutions has been performing outreach to manufactured housing retailers and communities in order to insure compliance with the SAFE Act. Mark Bowersox, executive director of the Indiana Manufactured Housing Association (IMHA) told MHMSM.com his organization was previously told by the state that enforcement would be complaint-driven, …
Indiana Department Investigating for SAFE Act Compliance Read More
CNNMoney reports that the Senate considered Monday whether to repeal the new requirement that businesses issue 1099 tax forms to any individual or corporation from which they buy more than $600 in goods or services in a year. The provision was adopted in March as part of the massive health …
The Manufactured Housing Institute will host a webinar on the Dodd/Frank Wall Street Reform and Consumer Protection Act December 9th at 2:00 p.m. Eastern. The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted into law on July 21, 2010. The law is considered the most significant rewrite of …
