This week, the Senate has turned its attention to the extension of the home buyer tax tax credit which expires on December 1 unless extended. Members of the Senate have said they have substantially reached an agreement on extending the credit, and plan to add it to a bill that …
MHI Expresses Support for Extension of Homebuyer Tax Credit Read More
At MHI’s request, Rep. Joe Donnelly (D-IN) met with SBA Administrator Karen Mills this week to discuss concerns with the SBA’s pilot program regarding floor plan lending. Rep. Donnelly conveyed the industry’s concerns that the pilot has not generated SBA loans to industry retailers due to the program requirements that …
MHI-PAC hosted a highly successful fundraising luncheon for Congressman Jimmy Duncan (TN-2nd – R) which raised over $10,000 for his campaign committee. Representative Duncan is a key member of the Committee on Oversight and Government Reform, Committee on Natural Resources, Ranking Member on the Subcommittee on Highways and Transit and …
The 2010 National Congress and Expo for Manufactured and Modular Housing is scheduled for April 13-15, 2010 in Las Vegas at Caesar’s Palace and promises to provide the best in programming and networking opportunities for the largest yearly gathering of hundreds of industry leaders. Click here for more information. Information …
At the request of Members of Congress, the Federal Trade Commission is delaying enforcement of the “Red Flags” Rule until June 1, 2010, for financial institutions and creditors subject to enforcement by the FTC. The Rule was promulgated under the Fair and Accurate Credit Transactions Act, in which Congress directed …
FTC Delays Implementation of Red Flags Rule Until June 1, 2010 Read More
At the request of Members of Congress, the Federal Trade Commission is delaying enforcement of the “Red Flags” Rule until June 1, 2010, for financial institutions and creditors subject to enforcement by the FTC. The Rule was promulgated under the Fair and Accurate Credit Transactions Act, in which Congress directed …
FTC Delays Implementation of Red Flags Rule Until June 1, 2010 Read More
RISMEDIA, September 3, 2009 – There is a “green” building revolution taking place, and manufactured housing is squarely in the forefront of this trend. Due largely to the fact that manufactured homes are built in a controlled factory environment, implementing the latest construction technologies is easier, assembly is more efficient, …
Today’s Manufactured Homes Naturally “Green” – Provide Less Waste, More Value Read More
The House Financial Services Committee, by a 39-29 vote, approved H.R.3126, the Consumer Financial Protection Agency (CFPA) Act of 2009. All regulation of businesses that offer financial services including lenders would be consolidated under the CFPA, which would be charged with devising consumer protection regulations that would apply to those …
Administration Announces New Financing Program for Housing Agencies On Monday, the Obama administration unveiled a new program to support state and local housing finance agencies (HFAs). The plan will help the agencies finance mortgages for first-time homebuyers and develop rental housing. This announcement follows upon the intent to support HFAs …
Administration Announces New Financing Program for Housing Agencies Read More
The Treasury Department has unveiled a temporary plan to provide additional funds to local and state housing finance agencies (HFAs) that are having a tough time stabilizing housing markets and providing support to local affordable housing programs. The initiative features a temporary credit and liquidity program for local housing agencies …
On Oct. 15, the U.S. House Financial Services Committee approved an amendment to reduce the proposed federal Consumer Financial Protection Agency’s (CFPA) examination powers over small banks and credit unions by voice vote. While the Miller-Moore amendment reduces examination powers, the agency would still have full power over 115 banks …
Tweaks to Consumer Agency Fail to Calm Banks, Credit Unions Read More
The U.S. House of Representatives has unanimously passed a bill that extends and enhances the $8,000 first-time home buyer tax credit for military families. Foreign service officers and members of the military as well as the intelligence community serving away from home in 2009 would have an additional year, to …
Lawmakers and government officials are looking for ways to provide more credit to community banks and small businesses. Sen. Mark Warner (D-Va.) said on Oct. 14 that a $50 billion pool of money for lending to small businesses could be created from resources contributed by the Treasury Department, Federal Reserve …
The FHA Is Fine and Won’t Need Taxpayer Money FHA Commissioner David Stevens defends the agency’s role in the housing recovery, noting that the it continues to hold more than $30 billion in reserve funds and is insuring more lower-risk borrowers. In a letter to the editor, in response to …
The number of San Diego military families who used their Veterans Affairs benefits to buy a home in the past year has nearly tripled to 3,700. Still, many active and retired military families say they have been unable to take advantage of the program due to some rules — including …
The White House is set to announce a pair of initiatives aimed at resolving lingering problems from the financial crisis. The first is a long-delayed toxic asset cleansing program, under which the Treasury Department has been working with a group of private firms to build investment funds that combine public …
Equity LifeStyle Properties Inc. (ELS), a real estate investment trust specializing in manufactured housing communities, beat analysts’ expectation for the 2009 third quarter. Thanks in part to a jump in operating revenues from properties to $123.8 million from $108.3 million during the same three months of last year, the REIT …
Its financing program for manufactured home loans has won the New Hampshire Community Loan Fund another $5.5 million in funding. Through Wachovia’s NEXT award for opportunity finance, the organization can expand its initiative, which the bank said “has the potential to change mortgage financing in the manufactured home sector across …
Research conducted over the past 30 years concludes that manufactured homes do not have a negative impact on the value of adjacent or surrounding stick-built dwellings. Not only does factory-made housing have the potential to rise in value over time, according to separate studies from the University of Michigan, Consumers …
The modular homes sector has been plagued for decades by negative connotation, but Canadian Steve Vail is on a mission to polish the industry’s image. “Modular does not equal trailers,” stresses the president and general manager of Economy Homes and Cottages in Airdrie, Alberta. “We are attempting to move into …
Future of Construction: Ready-Made Has Many Advantages Over Traditional Read More
