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Sunday Morning Recap-Manufactured Housing Industry News Feb. 21-Feb. 28, 2016

February 28th, 2016 Comments off

mhpronews_sunday_morningWhat’s New in public focused Manufactured HomeLivingNews.com

Discovering a 9 out of 10 “Mobile Home Park” Lifestyle


What’s New in Manufactured Housing Industry Professional News

MHC development on Pacific coast may wash out, while Hillcrest MHC in New Hampshire gets nod for expansion. UK modular plant to hire 400-500, modulars for homeless in Dublin delayed—again, and Vancouver may provide 300 modular units annually for homeless. House committee seeks to repeal Volcker and CFPB. Chinese buying U. S. businesses and real estate at record rate. Buffett defends Clayton. Newer manufactured homes do not fit older MHC sites. Doug Ryan: Strip monopoly from MH financing. Bad actors in off site produced home sales stopped. 1981 MH on market for $1.8M. Much, much more in news and views about the manufactured home industry for you to peruse.

Saturday, Feb. 27, 2016

Oracle of Omaha Defends Clayton Homes

Friday, Feb 26

Dubai-based Company moving on West Coast Workforce Modulars

Money Taken for Modular Homes, Promises Broken

Affiliated Managers Group Gains over Five Percent; Dow Slips

New Delays in Dublin Modulars for Homeless

Modular Home Factory to Hire 400 to 500

Sam Zell Continues Smiling

Thursday, Feb. 25

Older MHC Requires New Ordinance to Accommodate Larger Homes

Housing Market Recovery: Making Haste Slowly

ELS Gains +2.91%, Advances to $71.54; MHCV Gains +1.35%

House Committee Seeks to Repeal Volcker Rule and CFPB

Insider Trading at Patrick Industries, Inc.

Vancouver may Provide 300 Modular Homes Annually for Homeless

Wednesday, Feb. 24

Demographics of New York not Reflected in Home Purchase Loans

Universal Forest Products Gains +6.55 Percent in Two Days

Stabilizing Home Prices could make Home-buying More Feasible for First-time Buyers

Chinese Buying U. S. Firms at Record Rate. Will housing Fall-ow?

Tuesday, Feb. 23

35 Year-old Manufactured Home Lists for $1.8M

Sun Reports Q4 and Year-end Financials

Dow Rolls Back -1.14%; More MH-related Stocks Close Down than Up

Doug Ryan: Expand the Lending Opportunities for MH Buyers

Assetmark Increases Stake in Equity LifeStyle Properties

David Valenti Pleads Guilty to 19 Counts of Theft

Monday, Feb. 22

Fitch Ratings Predicts Homes for Sale Inventory to Change Little in 2016

Expansion for Hillcrest Estates MHC Approved by Planning Board

AMG Tops MH Gainers; Dow Begins Week Strongly

Real Estate Purchases by Foreign Nationals Rises

Modular Apartment Building Set within Two Days

California Coastal MHC Development Project may be in Jeopardy

Sunday Morning Recap-Manufactured Housing Industry News Feb. 14-Feb. 21, 2016 ##

(Photo credit: MHProNews)

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

Will the Senate Alter Dodd-Frank and CFPB Regulations?

December 3rd, 2012 Comments off

American Banker reports the Senate Banking Committee, two years after implementing Dodd-Frank, will likely review the impact of the regulations on the marketplace to determine what may need to be altered. The agenda has not been set yet for the coming year because Committee Chairman Tim Johnson (D-S.D.) wants to consult with the new committee members before releasing a detailed agenda. Now that elections are over, Democrats may be more willing to accept that changes need to be made, and Republican rhetoric has backed away from total repeal of Dodd-Frank to making it more productive. Jaret Seiberg at Guggenheim Securities says, “The real focus is going to be the shift from looking at why banks did bad things to how you can get more credit flowing to the economy. That shift in focus is going to open the door for making modifications to Dodd-Frank.” Passage of any legislation, whether it’s changing the Volcker rule that bans proprietary trading, or the structure of the Consumer Financial Protection Bureau (CFPB), will depend on the committee members relationship and that of the entire Senate. As MHProNews has learned, Amy Friend of Promontory Group, and former chief counsel to the Senate Banking Committee, says lawmakers likely want to see how the CFPB’s qualified mortgage rule, due in January, and the interagency risk retention plan affect the market. “Those will be extremely important in terms of trying to provide some certainty to the private sector,” she says.

(Image credit: Senate.Gov)

Dodd-Frank not Likely to Vanish

September 11th, 2012 Comments off

BloombergBusinessWeek says while Republican presidential candidate Mitt Romney has vowed to repeal Dodd-Frank, it’s more likely he would water down some of the restrictions on the most lucrative and profitable investments while providing sufficient oversight to protect the banks. Specifically, banks would toss restrictions on investments in private equity and hedge funds, reduce the reach of the Consumer Federal Protection Bureau (CFPB), and block the Volcker Rule. MHProNews has learned Matthew Albrecht, an analyst with Standard & Poor’s, says the eight biggest U.S. banks could lose between $22 billion and $34 billion due to Dodd-Frank. Mark Calabria, a former Republican Senate aide, says, “From a bank’s perspective, you’d rather have piecemeal reform of Dodd-Frank, not only because there are things in the law you want to keep, but also because you’re going to have more control over the process.” Bank executives are aware of the public’s anger in its role in causing the recession and publicly may favor Dodd-Frank while their lawyers fight behind the front line to weaken the rules.

(Image credit: BloombergBusinessWeek)

FSOC Regulators Losing Sight of Purpose

July 25th, 2012 Comments off

MHProNews has learned at a hearing on the Financial Services Oversight Council (FSOC), the “super committee” of regulators established as part of the Dodd-Frank Act to provide comprehensive monitoring of our nation’s financial system, House Financial Services Committee Chairman Spencer Bachus (R-AL) said there is little evidence the FSOC has accomplished what it was created to do because their regulators are so busy writing hundreds of new rules required by Dodd-Frank. Noting the failure of FSOC to protect customers of MF Global and Peregrine Financial Group, Rep. Bachus said, “It seems regulators are so busy trying to write rules against things like proprietary trading – which even Chairman Volcker agrees was not a cause of the financial crisis – that they are failing to fulfill their primary mission. Are they so busy writing tickets for jay walking that they’re letting the robbers and thieves run loose? Rather than pass massive new laws that require hundreds of new regulations, it’s a better use of limited resources to make sure regulators are enforcing the rules we already have.”

(Image credit: Facebook)