Posts Tagged ‘lenders’

FHA Call to Lenders on Workers, Contractors, re: Federal Government Shutdown

January 9th, 2019 Comments off


Shutdown theater continues in Washington, D.C. So, yesterday afternoon, the U.S. Department of Housing and Urban Development’s Federal Housing Administration (FHA) requested that approved lenders consider the financial hardships caused by the partial federal shutdown.


That press release is below, including a letter linked from FHA’s Brian Montgomery.  After that there will be an infographic that manufactured home retailers, developers, and communities may find of interest.


WASHINGTON – The Federal Housing Administration (FHA) today called on all approved mortgagees and lenders to be sensitive to the financial hardships experienced by borrowers as a result of the shutdown, including those borrowers subject to furlough, layoff, or a reduction in income related to the shutdown.   Read FHA Commissioner Brian Montgomery’s letter to lenders and approved mortgagees.

FHA-approved mortgagees and lenders are reminded of their ongoing obligation to offer special forbearance to borrowers experiencing loss of income.

FHA expects all approved mortgagees and lenders to make every effort to communicate with and assist affected borrowers to the greatest extent possible by:

  • extending special forbearance plans to borrowers impacted by the shutdown, and
  • fully evaluating borrowers for available loss mitigation options to avoid foreclosure whenever possible.

“In accordance with longstanding policy, FHA expects mortgagees to assist borrowers experiencing a loss of income,” said FHA Commissioner Brian Montgomery in a letter to FHA-approved lenders and mortgagees.

FHA is also strongly encouraging all approved mortgagees and lenders to waive late fees for affected borrowers and to suspend credit reporting on borrowers nationwide who have been affected by the shutdown.




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


Here above is the promised infographic, and some 2019 FHA lending guidelines.  Turn to an FHA lender approved for manufactured home lending for additional details.

That’s this morning’s “News through the lens of manufactured homes, and factory-built housing,” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)



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Manufactured Home Production Decline Accelerates in November 2018


New Report – More Americans Think Bad Time to Buy, Rentals Soar. Manufactured Housing, Opportunities, Takeaways?

“Major Step” in Independent National Post-Production Manufactured Housing Advocacy Taken, Per Trade Group







Fed’s Powell “Remarkably Positive Outlook,” Plus Manufactured Housing Market Updates

October 2nd, 2018 Comments off

CNNmoney10.1.2018ManufacturedHomeStocksMarketsReportsMHProNewsThere is a steady stream of positive economic, consumer confidence, business and investor confidence news. The positive economic news stands in stark contrast to the roughly last 9 years before the 2016 election, when huge borrowing and a series of “QEs” – “Quantitative Easing” – artificially propped up an economy that was being strapped down by heavy regulations and taxes too.  Today, Federal Reserve Chairman Jerome Powell talked at an economic forum about the economic outlook, which will be our focus report for this evening.


If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline report is found further belowafter the newsmaker bullets and major indexes closing tickers.

The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets.  Headlines – at home and abroad – often move the markets.  So, this is an example of “News through the lens of manufactured homes, and factory-built housing.” ©

Part of this unique evening feature provides headlines – from both sides of the left-right media divide – which saves busy readers time, while underscoring topics that may be moving investors, which in turn move the markets.

Readers say this is also a useful quick-review tool that saves researchers time in getting a handle of the manufactured housing industry, through the lens of publicly-traded stocks connected with the manufactured home industry.

This is an exclusive evening or nightly example of MH “Industry News, Tips and Views, Pros Can Use.” © It is fascinating to see just how similar, and different, these two lists of headlines can be.

Want to know more about the left-right media divide from third party research?  ICYMI – for those not familiar with the “Full Measure,” ‘left-center-right’ media chart, please click here.


Full Measure’s Sharyl Attiksson’s media bias chart is useful in sorting out the agendas behind various headlines and news sources.


Select bullets from CNN Money…

  • Tencent Music plans to go public on US exchange
  • The markets are soaring. How should investors play it?
  • A llama, bagel and frisbee: Apple’s new iOS 12.1 emoji
  • Tesla calms fears with strong sales numbers
  • Uber hires Expedia exec to fill HR role
  • Volkswagen dumps jailed Audi CEO amid emissions probe
  • Can GE’s new boss right the ship?
  • GE unexpectedly removes its CEO
  • Goldman Sachs’ new CEO has a lot of work to do
  • Goldman Sachs slants research to help Democrats, top White House adviser says
  • New York Times says it was a mistake to enlist writer who posted anti-Kavanaugh tweet to report on him
  • Microsoft co-founder Paul Allen is being treated for cancer
  • Stocks pop after new US-Canada-Mexico deal
  • Jemele Hill is joining The Atlantic
  • Don’t fall numb to this Facebook hack
  • There was only one White House press briefing in the entire month of September
  • California has a new law: No more all-male boards
  • Katie Couric: News need more diversity at the top
  • Washington Times settles lawsuit with Seth Rich’s brother, issuing a retraction and apology
  • California just passed its net neutrality law. The DOJ is already suing
  • Elon Musk agrees to pay $20 million and quit as Tesla chairman
  • Facebook hack exposed 50 million users’ info
  • New York DA probing allegations of sexual misconduct at CBS
  • Murdoch family made big money off the Disney-Fox deal
  • SEC charges LendingClub unit with mishandling investors’ money
  • 10 years after the crisis, some investors are still scared of stocks
  • Amazon’s newest physical store has a twist
  • JCPenney now has no CEO or CFO
  • These 3 startups are here to save local news in their communities
  • Ted Turner reveals he has dementia
  • How to catch up on retirement savings in your 50s

Select Bullets from Fox Business

  • Dow continues to rally, climbs to new record
  • Online sales taxes take effect in these states
  • High-tax New York towns to battle IRS over SALT cap workaround
  • What went wrong at General Electric
  • Why these stores will be closed on Thanksgiving
  • Amobee CEO Kim Perell, a self-made millionaire, reveals the secret to success
  • The Air Force is getting a new uniform
  • As a newly-minted US citizen, I did not sign on to the rule of a Democrat mob: Varney
  • C. Penney taps Jill Soltau as new CEO to lead turnaround
  • CEO departures are on the rise. Here’s a list of the big ones
  • New trade deal unites US allies against China: Kevin Hassett
  • The key parts of Trump’s new trade deal with Canada, Mexico
  • Wilbur Ross: New NAFTA deal a ‘win’ for US dairy
  • Auto sales dinged as interest rates spike
  • Musk tells Tesla employees to prove ‘naysayers’ wrong
  • Delta partners with CarePod to improve pet travel
  • Fed reportedly reconsiders standards of a big bank
  • Facebook could face massive fine in Europe after data breach
  • Amazon raises minimum wage to $15 for US employees
  • NASCAR Cup Series race team is a family affair
  • TriStar Motorsports keeps a family tradition alive at the racetrack.


Today’s markets and stocks, at the closing bell…



Manufactured Housing Composite Value (MHCV)


Today’s Big Movers

For all the scores and highlights on tracked manufactured home connected stocks today, see thBloomberg graphic, posted below.

Today’s MH Market Spotlight Report –

Among the points that left-of-center CNBC rarely mentions when it comes to the FED and the economy today vs. the Obama era is this.  QE was a fancy phrase for ‘printing money’ by the FED. It was an artificial way of propping up the economy.  Besides all the positive economic news, often overlooked is the fact that the Federal Reserve has been “unwinding” those holdings that kept the markets artificially higher.

Wolf Street, not CNBC, reported in August that “The plan calls for shedding up to $420 billion in securities in 2018 … Since the beginning of the QE-Unwind, the Fed has shed $129 billion in Treasuries. … In total, $61 billion in MBS have been shed since the beginning of the QE unwind.” 

That’s arguably another example of how a media outlet’s hidden agenda can subtly-to-boldly ‘spin’ the news.  It’s one of several reasons why MHProNews cites headline bullets each evening from CNN Money and Fox Business, which at least provides some balance to the otherwise hyper-partisan way that news is often reported.

That said, let’s look at what CNBC said this evening about Chairman Powell’s comments.


  • Federal Reserve Chairman Jerome Powell cited a “remarkably positive outlook” for a U.S. economy enjoying both low unemployment and inflation.
  • A reporter asked Powell after last week’s Fed meeting whether the outlook was too good to be true,” and he said it was “a reasonable question.”
  • In a speech Tuesday, the central bank chief said the jobless rate is running at 3.9 percent and inflation is around the Fed’s goal of 2 percent. Historically, low unemployment has fueled inflation and sometimes has forced the Fed into hiking interest rates rapidly.
  • While these two top-line statistics do not always present an accurate picture of overall economic conditions, a wide range of data on jobs and prices supports a positive view,” Powell told economists at a Boston conference. “In addition, many forecasters are predicting that these favorable conditions are likely to continue.”

Related Reports:

Near All-Time Record, Confidence Means MORE Sales and Business

USMCA: President Trump Announces NAFTA Replacement Promise Made, Kept – Stocks Soar, plus MH Market Updates

“Results vs. Resistance,” Cutting Fog with Facts for MHVille


Bloomberg Closing Ticker for MHProNews…

NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services.

NOTE: The chart below covers a number of stocks NOT reflected in the Yahoo MHCV, shown above.

NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).


Berkshire Hathaway is the parent company to Clayton Homes21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers.

LCI Industries, Patrick, UFPI and LP all supply manufactured housing.

AMG, CG and TAVFX have investments in manufactured housing related businesses.

Your link to industry praise for our coverage, is found here.

For the examples of our kudos linked above…plus well over 1,000 positive, public comments, we say – “Thank You for your vote of confidence.”

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Submitted by Soheyla Kovach to the Daily Business News for

Study Recommending New Manufactured Housing Association for Independent Retailers, Communities, Lenders, Others Released

November 15th, 2017 2 comments

WashingtonDCUSCapitolDomePixabayManufacturedHousingIndustryDailyBusinessNewsMHProNewsAs was teased earlier today, a new report has been released that recommends to manufactured housing industry companies and state associations that a new “post-production” trade association be formed to represent their unique interests.

A post-production association could be defined as an trade association that represents all those not directly connected to the building or ‘production’ of federally regulated, HUD Code manufactured homes.

Commenting on the study, MHARR President and CEO, Mark Weiss, told the Daily Business News that the “…study on the representation of the industry’s post-production sector, highlights the need for the independent, collective, national representation of that crucial sector, in order to provide it, at long last, with the aggressive representation that it deserves, and to ensure that its unique interests are fully protected, defended and advanced, without being needlessly tethered to other interests – particularly industry mega-conglomerates — which may not share the same perspectives or goals.”

MHARR’s president said that their association aren’t the best place for the industry’s post-production sector to seek representation.

The study suggests that the same problems that exist at the Manufactured Housing Institute (MHI) – for example, the built-in, apparent conflict-of-interest between manufacturers dominating all else that the association does – needs to be avoided by a new post-production association.


Mark Weiss, President and CEO of the Manufactured Housing Association for Regulatory Reform (MHARR).

While the study shows that MHARR itself is not the correct place for that representation, the Association will not only continue to provide accurate and factual information to the post-production sector as it has for many years, but will also provide its full assistance to any such new organization, after its formation and incorporation, in connection with relevant regulatory, legislative, and, if need be, legal matters,” Weiss said.

Calling it must reading for the industry, Weiss stated that, “This “must-read” study, demonstrates how the post-production sector, under its current representation model, is being short-changed and is falling well short of its full potential – with corresponding negative consequences for the broader HUD Code industry as well as consumers – in crucial areas including, but not limited to: placement, zoning, and, even more importantly, the needlessly restricted availability of competitive, lower-interest-rate consumer financing for the 80% of the manufactured home purchase-financing market represented by chattel (i.e., personal property) loans.”

The full MHARR press release to MHProNews is linked here.

The study regarding the creation of a post-production association, is linked here.

The timing and importance of the study are underscored by an exclusive report earlier today on the evolving story on Pam Danner as the administrator of the HUD Code manufactured housing program office.

Exclusive – HUD’s Manufactured Housing Program Administrator Pam Danner, Update

See that MHProNews exclusive, linked above.  “We Provide, You Decide.” © ## (News, analysis, and commentary.)

Note 1: Thanks to for those who directly and/or through social media are sharing their appreciation for our pro-Industry, pro-growth, pro-bottom line solution oriented industry coverage.

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

SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted by Soheyla Kovach to the Daily Business News for

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HELP Act Designed to Expand Lending Opportunities in Rural Areas

March 23rd, 2016 Comments off

mortgage app   texaslendingtoday creditAs nationalmortgagenews tells MHProNews, the Consumer Financial Protection Bureau (CFPB) has put in motion a new rule that expands lenders’ ability to originate qualified mortgages in rural and underserved markets. The agency’s final rule, which will take effect March 31, implements the Helping Expand Lending Practices (HELP) in Rural Communities Act.

In a news release, CFPB Director Richard Cordray said, “This rule provides broader eligibility for lenders serving those areas to originate balloon-payment qualified and high-cost mortgages.”

While the CFPB has previously pushed for more flexibility for community banks that operate in rural and underserved areas, the HELP Act expands the category of rural lenders that can qualify to originate loans under the Truth in Lending Act. ##

(Image credit: texaslendingtoday)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Free Manufactured Housing Finance, Business Seminars and Forecast

March 24th, 2014 Comments off

standing-room-only-2014-louisville-manufactured-housing-show-seminar-room-masthead-blog-mhpronews-com-Some 2100 +/- manufactured housing industry professionals from all segments of the industry are expected at the 2014 Tunica Manufactured Housing Show. Registrations have come in from states coast to coast.

The Tunica Show features more homes and exhibitors than any other industry trade show in North America. Networking and free luncheon’s are part of the show line up.

Popular finance and business building seminars are offered free to industry attendees. General information about the finance and business building seminars are found linked here.

Tunica offers popular free manufactured and modular home finance panels, which features top industry lenders as well as MH Community commercial lending panels, both moderated by MH finance expert, Dick Ernst..

Business Building CRM, Marketing and Sales building programs and a Manufactured Home Community Lesson’s Learned panel discussion are on the schedule. A guest column by Brad Nelms on Why Retailers and Community Operators should Go Tunica, is linked here.

A possible program change may occur in the MHC Lessons Learned panel, which is being moderated by the National Community Council’s VP, Jenny Hodge. Rick Rand has advised seminar management that he may not be able to attend, but seasoned veteran and consultant, L. A. “Tony” Kovach will be available as an alternate panelist for that session. Featured MHC panel experts include Tammy Fonk with CBRE who has years of experience in a family owned community, as well as Maria Horton, a respected executive from west coast MHC powerhouse Newport Pacific. Seminars will be held in the Harrah’s Convention Center exhibit hall.

Video interviews are planned at the show, such as the ones linked here.

The current forecast for the Tunica Manufactured Housing Show is a sunny on Wednesday 3/26/2014 with a low of 43 degrees and a high of 55. Thursday’s forecast is partly cloudy, with a 10% chance of rain, low of 54 and a high of 63. Friday’s forecast is mostly sunny, but 40% chance of rain, with a low of 43 and a high of 69.

This is an industry trade show, and is not open to the general public. Industry professionals are reminded that they can typically gain free admission by bringing their photo ID and business card. ##

(Image Credit: MHProNews)


Online Shopping will Play Larger Role in Choosing Mortgages

January 7th, 2014 Comments off

An analysis by Fannie Mae of its 2013 National Mortgage Survey reveals lower income borrowers are more apt to rely on advice from others, such as real estate agents and/or friends and family to determine what mortgage to choose and how much to borrow. They want loan terms and costs that are easiest to understand for comparison purposes according to Higher income borrowers make their own calculations and choices based on the offer of a lender, and are more likely to shop online. One of the goals of the Consumer Financial Protection Bureau (CFPB) is to encourage borrowers to shop around. MHProNews has learned that all income groups say they will use more online technology for borrowing information, indicating that arena of shopping will play a more significant role in searching for mortgages much as it does for consumer goods.

(Image credit:

Lenders Say “Buy Home Now”

December 16th, 2013 Comments off suggests reasons for buying a home before the end of the year include new lending rules which will move debt-to-income ratio requirements higher, possibly making it more difficult to buy property. Additionally, mortgage rates are already up one to two percent, but grabbing a fixed rate mortgage (FRM) at 4.5 percent for 30 years still remains possible. And, as tells, buyers can begin deducting the interest immediately. The lenders surveyed also say 2014 will be a definite test market for the mortgage industry with the new rules and the possible tapering of the federal stimulus.

(Image credit:

Qualified Mortgage Guidelines will not Change Initially

December 11th, 2013 Comments off

The Consumer Financial Protection Bureau (CFPB) is getting feedback from lenders regarding the Qualified Mortgage (QM) rule, and while it may alter some of the guidelines down the road, it will wait until lenders adjust to the new set of guidelines. Speaking to a Women in Housing and Finance gathering, head of the CFPB’s Office of Mortgage Markets (OMM) Peter Carroll says, “At this point, any new guidance might be the straw that breaks the camel’s back.” According to what tells MHProNews, the new QM rule, set to go into effect Jan. 10, 2014, does not include a method to correct a mistake after closing. Carroll says a lender should be able to repair an error within a certain amount of time. Additionally, the Office of Mortgage Markets is considering raising the threshold between prime QM loans that are better protected from litigation, and subprime loans, which receive less legal protection, from 150 basis points (bp) to 200 bp. The OMM monitors and analyzes mortgage markets and products and their affect on those involved.

(Image credit:

Conference to Focus on Manufactured Housing Lending

September 25th, 2013 Comments off

The 2013 Western Housing Conference will be held at the Radison Fort McDowell Casino in Fountain Hills, Arizona Nov. 7 and 8. The program will feature leaders in manufactured housing lending. Tim Williams of 21st Mortgage Corporation will keynote the conference Thurs. night speaking on the Preserving Access to Manufactured Housing Act now before Congress. Friday’s Dodd-Frank lenders panel will include Williams; Craig Cox of U. S. Bank MH Finance; Don Glisson, Jr., Triad Financial Services; Ryan Howerton, 21st Mortgage Corp.; Cody Pearce, Cascade Financial Services; and Brad Waite of Land/Home Financial Services. Other presentations will deal with specialty and community lending, as MHProNews has learned. For more information, please contact the Arizona Housing Association at

(Photo credit: Trulia–Arizona manufactured home)

Warren Warns, Obamacare Must Go

September 19th, 2013 Comments off

Oracle of Ohama Warren Buffett says Obamacare should be eliminated because the average citizen will suffer the most without changes to the plan. He adds health care costs need to be controlled before providing health insurance to everyone, otherwise continuing as we are will lead to less competition. As notes, the billionaire investor was an early supporter of Obama, but compares health care costs to a tapeworm eating our “economic body.” MHProNews knows Buffett is Chairman of the Board of Berkshire Hathaway, parent company to Clayton Homes, the U.S.’s largest producer of manufactured and modular homes, as well as Vanderbilt Mortgage and Finance and 21st Mortgage Corp., both lenders to consumers of factory-built homes.

(Photo credit: Buffett)