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HUD Announces Post Disaster Assistance for Hurricane Recovery

October 15th, 2018 Comments off

TragicOpportunitiesDisguiseMHProsHUDAnnouncesDisasterRecoveryAssistanceDailyBusinessNewsMHProNews

Save for the first word, what follows below could be a mission statement for the manufactured housing industry.

 

HUD’s mission is to create strong,
sustainable, inclusive communities and
quality affordable homes for all
.”

 

Those mission statement words are a routine part of press releases from the Department of Housing and Urban Development (HUD) to the Daily Business News on MHProNews.

They ought to serve as a reminder that manufactured housing professionals also need their own mission statement.

 

Tragedy Brings Opportunities for Motivated Manufactured Housing Industry Professionals

The HUD release below is followed by additional information from MHProNews that reflects what should be obvious.

While the storm is tragic, and the deaths, injuries and harm done is lamentable, rebuilding now awaits.  The recovery opportunities could include manufactured and modular housing.  This is something that forward thinkers, prepared to navigate the loops and hoops, could profit handsomely from, while serving others in need.

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Click here or on the graphic above to learn more, which is not connected to this report.

But you can’t skim this information.  For example, the last link from HUD is part of the key.

On our 9th anniversary of industry-leading trade publishing, it is worth noting that no one else in manufactured housing trade media shares more content from third-party sources than MHProNews.

No one else even comes close.

The Daily Business News curates third party content to ensure that it’s pertinent to manufactured housing industry professionals, researchers, and investors. Perhaps these are among the reasons that MHProNews is the runaway number one read trade media in the industry’s modern history.

Before getting to the HUD Press release, our initial report on the aftermath of Hurricane Michael is linked below.

 

Manufactured Homes, Conventional Construction, Hurricane Michael-Reports, Videos, Lessons Being Learned

 

The release from HUD is found below, the “guts” of it published in full.

HUDGovPressNewsMediaDailyBusinessNewsMHPronEws

 

HUD ANNOUNCES DISASTER ASSISTANCE FOR FLORIDA STORM VICTIMS

Foreclosure protection offered to displaced families

WASHINGTON – U.S. Housing and Urban Development today announced HUD will speed federal disaster assistance to the State of Florida and provide support to homeowners and low-income renters forced from their homes due to Hurricane Michael.

Yesterday, President Trump issued a major disaster declaration for Bay, Franklin, Gulf, Taylor, and Wakulla counties.

The President’s declaration allows HUD to offer foreclosure relief and other assistance to certain families living in this county.  HUD is:

 

  • Providing immediate foreclosure relief– HUD’s automatic 90-day moratorium on foreclosures of Federal Housing Administration (FHA)-insured home mortgages commenced for the Florida counties covered under yesterday’s Presidential declaration on the date of the declaration. For assistance, call your loan servicer or FHA’s Resource Center at 1-800-304-9320.

 

  • Making mortgage insurance available – HUD’s Section 203(h) program provides FHA insurance to disaster victims whose homes were destroyed or damaged to such an extent that reconstruction or replacement is necessary and are facing the daunting task of rebuilding or buying another home. Borrowers from participating FHA-approved lenders are eligible for 100 percent financing, including closing costs;

 

  • Making insurance available for both mortgages and home rehabilitation– HUD’s Section 203(k) loan program enables those who have lost their homes to finance the purchase or refinance of a house along with its repair through a single mortgage. It also allows homeowners who have damaged houses to finance the rehabilitation of their existing single-family home;

 

  • Information on housing providers and HUD programs – The Department will share information with FEMA and the State on housing providers that may have available units in the impacted counties. This includes Public Housing Agencies and Multi-Family owners. The Department will also connect FEMA and the State to subject matter experts to provide information on HUD programs and providers.

Read about these and other HUD programs designed to assist disaster victims.

 

###

 

 

Note that the video above was not part of their release, but is an example of one of several ways that the Trump Administration is retooling federal agencies to speed recovery, in a business-like fashion. A related report to a disaster recovery related litigation involving manufactured housing and a gentleman named Nathan Smith is linked in the related reports, further below.  Note that HUD Secretary Ben Carson promised a new ear of cooperation with manufactured housing.

That Nathan Smith article that follows below reveals a this program has been used previously to create a new subdivision using manufactured housing.  Is there any reason why HUD under Carson’s leadership won’t do the same today?

On the eve of the start of our 10th year serving the factory-built housing industry, we thank our readers, clients and sponsors for their time, treasure, talent and support. “We Provide, You Decide.” © ## (News, analysis, and commentary.)

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Related Reports:

City Sued Nathan Smith, 16th Street, for Breach of Contract

“A New Era of Cooperation and Coordination,” is Promised by HUD Secretary Carson, Saying “I Hear You”

Triad Financial Services Creates New Program Manufactured Home Dealers

April 26th, 2017 Comments off
TriadfiancialservicescreatesnewprogramcreditTriad-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Triad.

Triad Financial Services, Inc. tells MHProNews that it has formed the Triad Manufactured Home Risk Purchasing Group (RPG) for manufactured home dealers.

Triad says that it created the program in response to the increasing demand for affordable liability insurance for manufactured home retail dealers. In addition to the insurance savings, the program will also provide periodic loss prevention and risk management information.

Recent changes in the manufactured home general liability insurance markets have undergone changes to where it may be difficult to find affordable coverage for manufactured home dealers,” the company said.

Triad wants to ensure that dealerships across the country are aware of the RPG and the benefits it provides to dealers.”

New Capital

The Daily Business News recently covered Triad’s building on their ongoing process of introducing new capital to the market, including recently bringing Superior, Wisconsin-based Superior Choice Credit Union to the Louisville Manufactured Home Show.

During the show, the Inside MH Road Show team interviewed Boyd and Joel Braun, Executive Vice President and Chief Lending Officer, and Ben Altonen, Executive Vice President and Chief Financial Officer with Superior Choice Credit Union as seen in the video below.

Triad Financial Services is a privately held, full service finance company based in Jacksonville, Florida with locations in Bourbonnais, Illinois; Irvine, California; Atlanta, Georgia and Wichita, Kansas.

The full release from Triad is linked here. ##

(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews

Economic, Financial Optimism Surges – Trump Effect?

March 17th, 2017 Comments off
HomeSalesPricesExpectedtoRisecreditNAR-postedtothedailybusinessnewsmhpronewsmhlivingnews

NAR headquarters, Washington, D.C. Credit: NAR.

A new survey from the National Association of Realtors (NAR) shows that a combination of job gains and economic optimism are igniting consumer confidence across the country, particularly in rural and middle America.

The ongoing quarterly Housing Opportunities and Market Experience (HOME) survey from the NAR asked respondents about their confidence in the U.S. economy and various questions about their housing expectations.

According to the survey, during the first three months of this year, the share of households who believe that the economy is improving jumped to it’s highest level in the survey’s history at 62 percent, up from 54 percent last quarter and 48 percent one year ago.

Credit: NAR.

In a reversal from previous quarters, the surge in positive sentiment about the economy comes primarily from respondents living in the Midwest, 67 percent versus 51 percent last quarter, and rural areas, 63 percent versus 43 percent last quarter.

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Lawrence Yun. Credit: The Business Journals.

Confidence levels generally rise after a presidential election as the nation hopes for the best. Even though it is a highly polarized country, consumers for the most part have upbeat feelings about the economy right now,” said NAR Chief Economist Lawrence Yun.

Stronger business and consumer morale typically lead to even more hiring and spending, which in turn encourages more households to make big decisions like buying a home. These positive developments would be especially good news for prospective homebuyers in the more affordable Midwest region.

Increased confidence in the economy is also translating to improved feelings about financial situations at home.

EconomicFinancialOptimismSurgesTrumpEffectcreditNAR2-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: NAR.

The Monthly Personal Financial Outlook Index indicated respondents’ confidence in their financial situation will be better in six months, jumping to its highest reading in the history of the survey as well, climbing to 62.6 in March from 59.8 in December 2016. The index was 58.1 one year ago.

 

The Trump Effect

SunsettoSunriseObamaLookstoSolidifyLegacyWhileTrumpTakesActioncreditCBSNews-postedtothedailybusinessnewsmhpronewsmhlivingnews

Donald Trump with Softbank CEO Masayoshi Son. Credit: CBS News.

As Daily Business News readers are already aware, the election of President Donald Trump has provided a spark to the U.S. economy, including small business optimism being at the highest level in 37 years.

In recent commentary to MHProNews on Gallup’s U.S. Economic Confidence Index, author David Horowitz laid out the potential impacts for the Trump Effect and how it differs from the Obama Administration.

EconomicConfidenceIndexHitNewHightheTrumpEffectcreditFrontpageMag-postedtothedailybusinessnewsmhpronewsmhlivingnews

David Horowitz. Credit: Frontpage Mag.

While his first few weeks have certainly been volatile and controversial, Trump will be a demanding leader who applies the best of his negotiating skills to push for U.S. growth,” said Horowitz.

Trump won’t be an ideological purist like Republicans who support free trade but don’t fight for fair trade.

Horowitz also had strong words about President Trump’s predecessor.

We’ve had an anti-business president now for eight years who doesn’t take a hard-nosed attitude towards these deals. Trump is going to get better deals for us, which is still free trade.

Trump will also lead the way in making infrastructure spending to boost the U.S. economy,” said Horowitz.

If the economy grows as it will under Trump, there’s going to be a lot more money to spend.

For more from Horowitz and the impact of President Donald Trump on the economy, click here. ##

(Image credits are as shown above.)

 

rcwilliams-writer75x75manufacturedhousingindustrymhpronews

RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

New Consensus Recommendation for The Carlyle Group

October 13th, 2014 Comments off

ft-markets=credit-outperform-rating-for-the-carlyle-group-posted-daily-business-news-com-12 analysts gave the asset management company, The Carlyle Group, a consensus ‘Buy’ rating for it stock, the Ticker Report advised MHProNews.

Analysts recently changing their rating on shares of The Carlyle Group from an “under perfom” to a “neutral” has brought the price target on the stock at a value of $35.50 as of Oct. 9. After the statement, 29,465 shares of the company’s stock were exchanged at a value of $28.91 during Thursday’s session.

As manufactured home industry enthusiasts, professionals and investors know, Carlyle invested in late 2013 in manufactured housing communities.

Mark Beliczky of The Carlyle Group told MHProNews last April in the video interview (above) about their keen and ongoing interest in manufactured housing, specifically in the land lease communities sector (aka “mobile home parks”). Financial Times (FT) states thatAs of Oct 10, 2014, the consensus forecast amongst 20 polled investment analysts covering The Carlyle Group LP advises that the company will outperform the market. ##

(Image Credit: FT)

(Article submitted by Lucine Colignon to Daily Business News MHProNews)

Tim Williams, 21st Mortgage, elected Vice-Chair during Manufactured Housing Institute (MHI) Summer Meeting

June 11th, 2014 Comments off

tim-williams-CEO-President-21st-mortgage-corporation-daily-business-news-manufactured-housing-mhpronews-The 2014 Summer Meeting for the  Manufactured Housing Institute (MHI) concluded yesterday with Tim Williams, CEO of 21st Mortgage, was elected as Vice-Chair of the industry’s largest national trade association.  Williams, a respected industry icon, was unopposed.

97 industry leaders, plus MHI staff, friends and family attended the June 8-10 event at the Alexander Hotel in Indianapolis, IN.  “On the heels of Congress and Expo, and with a number of state association meetings (taking place), we are very pleased with the number of attendees.” said MHI President, Dick Jennison, to MHProNews.

Pam Danner, HUD’s new manufactured housing program director and Bill Matchneer, who recently retired from the Consumer Financial Protection Bureau (CFPB), we’re among the featured guests.  Danner assured attendees that she would listen to the industry, resolve back logged issues and seek to elevate understanding and use of programs manufactured housing at HUD.

Bill Matchneer, who is consulting for MHI on appraisal related issues,  urged members to get the story of MH home  owners who lost financing due to CFPB regs to have their stories told to regulators. See Matchneer’s related guest column here.

Educational, business meetings and networking mixers were all part of the agenda. ##

(Photo Credit: MHProNews)

Friday 13th Senate Companion Bill for HR 1799/MH Avoided

December 14th, 2013 Comments off

us_senate_seal-posted-daily-business-news-manufactured-housing-mhpronews-Informed sources told MHProNews on Friday that the companion bill to HR 1779 – The Preserving Access to Manufactured Housing Act of 2013 – was about to be filed. A source close to Oklahoma Senator Tom Coburn said off the record, “Dr. Coburn has decided to cosponsor the bill with Senator Donnelly.  It will be introduced today (Dec 13th).” Another source revised that expectation, saying the bill would more likely be filed on Monday. “No, the Senate adjourned a bit earlier than planned.  It’s going to drop the first thing Monday!”

The Senate companion bill becomes more important to manufactured housing home owners and industry members, since the CFPB rejected the bipartisan call by 11 U.S. Senators to delay the implementation of Dodd-Frank rules impacting manufactured home lending.

The news brief and a copy of Richard Cordray’s letter declining a delay in support are available as a download on the article linked here, or as an updated download from the article linked below.

MHProNews will naturally track these developments and keep industry members, investors and other interested parties informed. ##

(Editor’s Note: See a red-hot HR 1779 related story at this link.)

Dodd- Frankenstein – SEC 2013 Annual Whistleblower Report

November 21st, 2013 Comments off

obama_&_biden_presidential-limo_july-2010-.pngIf ObamaCare has your attention, don’t miss out on what some publishers are now calling Dodd-Frankery or Dodd- Frankenstein (aka Dodd-Frank). The SEC is required to publish an annual whistleblowers report, the 2013 download of which is available here. The attorneys behind the website “Dodd-Frank-com” state “ Fiscal 2013 drew 3,238 complaints compared to 3,001 in 2012, an 8% increase.”  Did you check that, over 3000 complaints a year, or about 9 daily. For retailers, communities and others involved in manufactured home lending, lease-purchase, rent-to-own or other instruments deemed to be ‘financing’ per the Consumer Financial Protection Bureau, this ought to be the latest wake up call. MHProNews suggests that once you’ve had your coffee, see if your Congressman is on this list, and either call to thank them or call to ask for their support of HR1779. ##

(Photo Credit: WikiCommons)

ABA Blasts CFPB for blanket requests for sensitive information

August 29th, 2013 Comments off

american-bankes-association-logo-posted-daily-business-news-manufactured-housing-pro-news-The American Bankers Association (ABA) blasted the Consumer Financial Protection Bureau for a system they say lacks transparency in data collected from consumers. Law360 tells MHProNews that the CFPB also fails to sate how it plans to use the data to shape their policies. This comes on the heals of Senate Republicans concerns about the CFPB’s data gathering. The ABA alleged the CFPB’s request for a “generic clearance” new surveys of potentially sensitive consumer information. ##

(Image credit: ABA Logo)

CATO CEO Says Free Markets Are the Answer

September 26th, 2012 1 comment
alison-john-cato-ceo-credit-united-liberty-posted-mhpronews.com-daily-business-news-The CATO Institute’s CEO, John A. Allison, is making the case that free markets not government are the solution to what caused the banking crisis. In his book,”The Financial Crisis and the Free Market Cure: Why Pure Capitalism is the World Economy’s Only Hope.” In a column to AB, Allison states that: “Many life insurance companies and other investors like having government guarantees on their assets (via Freddie, Fannie, or the FHA). However, this is very destructive public policy because it pushes the risk to taxpayers and not market participants.” Alison also said, “A major component of the solution will be provided by existing commercial banks that retain home mortgages in their portfolios the way the S&Ls did. One of the few major economic systems to have limited problems as a result of the financial crisis is Canada. One reason the Canadian banks did relatively well is that they portfolio home mortgages. While there are some housing subsidies in Canada, the banks do not have to compete with the government, that is, Freddie, Fannie, and the FHA. Also, since the banks were holding the mortgages on their books, they cared about the credit risk and underwrote the risk rationally.”
(Photo Credit: United Liberty)

Borrowers Lose by not Refinancing

July 24th, 2012 Comments off

DailyFinance tells MHProNews Credit Sesame says last year 35 percent of the 50 million U.S. mortgages qualified for refinancing but only 4.5 million borrowers did. Why? One reason, according to Kelli Dudley of DePaul University in Chicago, is “The mortgage foreclosure fiasco has had a major mental health cost for consumers. It is difficult to make economically rational decisions when the underpinnings of home ownership have been shaken. In short, consumers no longer trust lenders and see them as the enemy.” Another reason, according to Irene Shubldaze of Credit Sesame, noting how busy people are, is the time required to shop for deals, gathering and submitting the necessary documentation, consider interest rates, and weigh all this information against how long you expect to stay in the house. In addition, a lot of people think they can play the market and make more than by refinancing their mortgage and saving $5,000. Pete D’Arruda of Capital Financial Advisory Group says, “Everyone wants to brag and find that next Apple. I’m amazed at how much risk people are taking. They’re climbing the equivalent of a 30-foot ladder with no one holding it.”

(Image credit: Photobucket)