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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 and 80 credit unions. The CFPA, which will have authority over financial products like home loans and payday loans, continues to garner opposition from financial firms. The legislation creating the new agency will continue the markup process as lawmakers debate the balance between federal and state powers. U.S. Reps. Mel Watt (D-N.C.) and Dennis Moore (D-Kan.) have crafted another amendment that would require national banks to comply with state laws except when state law is considered to have a "discriminatory" impact on national banks and when it prevents or interferes with national banks' business.
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From "Tweaks to Consumer Agency Fail to Calm Banks, Credit Unions" The Hill (10/19/09) Brush, Silla

Source: MHI Newswire

Daily Business News Briefs

173,000 jobs added in August; Dow Ends the Week Down

173,000 jobs added in August; Dow Ends the Week Down

In the news from CNNMoney: The government said 173,000 jobs were added to the employment rolls in August, fewer than the 200,000 economists expected. U. S. unemployment rate is the lowest in seven years at 5.1 percent. Emeryville, California has the highest minimum wage in the country at $14.44. Meanwhile, the Yahoo Manufactured Housing Composite...

04 Sep 2015

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Distinguished Speaker Line-up Set for Credit Union Congressional Caucus

Distinguished Speaker Line-up Set for Credit Union Congressional Caucus

The National Association of Federal Credit Unions (NAFCU) Congressional Caucus is the association’s credit union lobbying event of the year, bringing hundreds of credit union representatives from all across the country to meet with lawmakers and earn about legislation that may affect them and their members. The Congressional Caucus sponsors i...

04 Sep 2015

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Federal Housing Discrimination Suit Filed against Pearl, Mississippi

Federal Housing Discrimination Suit Filed against Pearl, Mississippi

Following a story MHProNews posted Aug. 27, 2015 regarding a judge’s ruling that the city of Pearl, Mississippi was illegally trying to eradicate manufactured home communities (MHCs) through attrition, three owners of Pearl MHCs have filed a Federal lawsuit charging the city with “purposeful discrimination” against low-and-middle-income hou...

04 Sep 2015

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CFPB Slammed for Publishing Unverified Complaints

CFPB Slammed for Publishing Unverified Complaints

With the only verification of complaints by consumers against companies that there was a transaction of some sort, the mortgage finance industry remains perplexed by the Consumer Financial Protection Bureau’s publishing of unverified and anonymous charges against specific companies in their complaint narrative database. Since many of the...

04 Sep 2015

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Home Prices Rise, Yearly and Monthly

Home Prices Rise, Yearly and Monthly

According to the CoreLogic Home Price Index, home prices increased 6.9 percent in July over a year ago, and rose 1.7 percent over June, including distressed sales. Home prices rose 6.7 percent year-over-year if distressed sales are excluded, and were up 1.5 percent month-over-month, as reported by nationalmortgagenews to MHProNews. Massachusetts...

04 Sep 2015

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Most MH Related Stocks Nudge Up; Analysts Await Tomorrow’s Jobs Report

Most MH Related Stocks Nudge Up; Analysts Await Tomorrow’s Jobs Report

In the news from CNNMoney: Tomorrow’s jobs report could tip the scale as to whether the Fed raises interest rates. Economists expect 200,000 jobs were added, and that the unemployment rate has fallen to 5.2 percent. The International Monetary Fund says it’s too early to raise interest rates. Falling demand from China has put a […]...

03 Sep 2015

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Fannie Mae Loan Arranged for sale of Manufactured Home Community in Oregon

Fannie Mae Loan Arranged for sale of Manufactured Home Community in Oregon

Capital One informs MHProNews that it arranged a $4.9 million fixed-rate Fannie Mae loan for the acquisition of a manufactured home community (MHC) in Canyonville, Oregon, 185 miles south of Portland. Completed in 2009, Knoll Terrace is a 134-homesite age-restricted community in a forested area, and the homes have two-car attached garages....

03 Sep 2015

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Wildwood Manufactured Home Community Sponsors House Walk

Wildwood Manufactured Home Community Sponsors House Walk

The Wildwood Home Owner’s Association in Sandwich, Illinois is sponsoring its third annual House Walk, Sept. 12, to acquaint visitors with the positive features of manufactured homes (MH) and living in a manufactured home community. As kendallcountynow informs MHProNews, six residents are opening their homes to help attendees understand the...

03 Sep 2015

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Oregon Assists First-time Homebuyers with Low Rates

Oregon Assists First-time Homebuyers with Low Rates

MHProNews has learned from ktvz that Oregon offers first-time homebuyers the opportunity to purchase a home at below-market interest rates, according to Oregon Housing and Community Services (OHCS), including manufactured homes (MH). Using the proceeds from tax exempt revenue bonds, the Oregon Bond Loan program has two options: the first offers an...

03 Sep 2015

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Patrick Industries’ Stock Rises following Acquisition

Patrick Industries’ Stock Rises following Acquisition

In a research report issued on Tuesday, C. L. King upgraded Patrick Industries (NASDAQ:PATK) from a “buy” rating to a “strong buy” rating, according to dakotafinancialnews. A manufacturer of component products and distributor of building products and materials to the manufactured housing (MH) and recreational vehicle (RV) industries, company stock...

03 Sep 2015

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Transit Oriented Development in Relation to Affordable Housing

Transit Oriented Development in Relation to Affordable Housing

Following a Supreme Court’s ruling in June regarding disparate impact, and the subsequent requirement that cities receiving HUD funding must be wary of siting affordable housing away from amenities and the opportunities of urban living, two Chicago activists highlight the problem of transportation inequality, according to nextcity. Brendan...

03 Sep 2015

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Featured Articles and Reports - September 2015 Vol. 6 No. 12

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You Like Me, You Really Do Like Me!

You Like Me, You Really Do Like Me!

by Wayne Coakley As you know, nowadays people search online before they buy just about anything. NSP_READMORE

MARKETING

Matt Weaver, Campbell Caron Properties on IREM, Management, More! Inside MH…

Matt Weaver, Campbell Caron Properties on IREM, Management, More! Inside MH Road Show Video

by Soheyla Kovach “Failure is Not an Option.” NSP_READMORE

MARKETING

Water, Water, How Much Is That Water?

Water, Water, How Much Is That Water?

by Bill Dahlin, JD Any Californian who has picked up a newspaper, listened to the news, or not been a bonafide Rip Van Wrinkle, is aware that California is in the... NSP_READMORE

COMMUNITY MANAGEMENT & FAIR HOUSING (LEGAL)

How To Keep Peace and Harmony In Our MH Communities (at a low cost)

How To Keep Peace and Harmony In Our MH Communities (at a low cost)

by Rob Coldren, Esq and Dan Rudderow, Esq. The rule breaking tenant can be handled in many ways. Options include: NSP_READMORE

COMMUNITY MANAGEMENT & FAIR HOUSING (LEGAL)

Answers to Questions About the New Appraisal Rule

Answers to Questions About the New Appraisal Rule

by Darren Krolewski The following were answers provided to questions posed by MHProNews.com to DataComp about the new Appraisal rule implementation. NSP_READMORE

FINANCING

The Appraisal Rule - Six Weeks Report Card

The Appraisal Rule - Six Weeks Report Card

By Lance Hull On July 18th, 2015, the Higher-Priced Mortgage Loans (HPML) Appraisal Rule went into effect for our industry.  NSP_READMORE

FINANCING

S. 682 Offers Possible Relief for Consumers Stranded by CFPB

S. 682 Offers Possible Relief for Consumers Stranded by CFPB

by Bill Matchneer, JD Recent history has shown that the regulations designed to NSP_READMORE

FINANCING

AIA - Manufactured Housing Specialty Insurance Agents Alliance Celebrates i…

AIA - Manufactured Housing Specialty Insurance Agents Alliance Celebrates its 15th Anniversary

by Kurt Kelley, JD Bellingham, WA August 25, 2015. NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

I Can't Be the Only One.

I Can't Be the Only One.

by Ken Haynes Jr  It literally drives me temporarily insane when I read or hear manufactured housing referred to by the media, by any other nomenclature than manufactured housing, or manufactured... NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

A Cup of Coffee with...Chris Parrish

A Cup of Coffee with...Chris Parrish

1) Who, What and Where: (Your name and your formal title at Parrish Manor). NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

Renters' Nation – Dark Side of Dodd-Frank, its Impact on Affordable Housing…

Renters' Nation – Dark Side of Dodd-Frank, its Impact on Affordable Housing – what 38 hours and 25 minutes reveal

by L. A. “Tony” Kovach This will be under 350 words, because the facts properly understood will speak volumes. NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

65th Annual Convention, Trade Show and Expo – New York Housing Association …

65th Annual Convention, Trade Show and Expo – New York Housing Association  – Oct 8-12th, 2015

by Nancy Geer We hope you are well. I have attached the event brochure for you reference. Please see the PDF that is attached. NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

A Cup of Coffee with…Dan Rinzema

A Cup of Coffee with…Dan Rinzema

1) Who, What and Where: (Your name and your formal title at MHVillage/DataComp) Dan Rinzema, President and CEO, Datacomp Appraisal Systems, Inc. and MHVillage, Inc.. NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

Controversial Media Reports – The Guardian & KVUE – On-The-Record Interview…

Controversial Media Reports – The Guardian & KVUE – On-The-Record Interview with Frank Rolfe of Mobile Home University, MobileHomeParkStore, RV Horizons

by L. A. 'Tony' Kovach One of the most controversial figures in the MHC world today is Frank Rolfe. NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

Do People Research Manufactured Home Personalities, Companies and MH Indust…

Do People Research Manufactured Home Personalities, Companies and MH Industry Subjects? Yes!

by L. A. “Tony” Kovach Do people research companies and people on MHLivingNews.com and MHProNews.com? NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

ZigOn Work

ZigOn Work

by Zig Ziglar One of my favorite quips about work is this: Someone asked a worker how long he had been working for his company and he smilingly responded, "Ever since... NSP_READMORE

PERSONAL REFLECTIONS, MOTIVATION and INSPIRATION

Living with Wisdom – 3 Tips for Today

Living with Wisdom – 3 Tips for Today

By Tim Connor, CSP Wisdom - the blending of - information, knowledge, experience, judgment, truth, reality, maturity - to achieve dreams, goals, life purpose, inner peace and happiness... NSP_READMORE

PERSONAL REFLECTIONS, MOTIVATION and INSPIRATION

Upcoming Events

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Classifieds

Press Releases

MHRE Inc. Announces Sales of 921 Uniprop…

MHRE Inc. Announces Sales of 921 Uniprop Portfolio in Michigan

Michigan-headquartered MHRE Inc.  is the foremost real estate brokerage and advisory firm predicated exclusively in the manufactured housing and recreational vehicle asset class, is pleased to announce the sale of a 3.5 star institutional quality, 3-property, all age manufactured home community portfolio containing 921 land lease home sites located in the state of Michigan. The sale also includes full amenities packages for all three properties as well as related assets, including park owned manufactured homes and installment contracts. The Uniprop Michigan MHC Portfolio included the sale of Dutch Hills, Stonegate Manor and Camelot Manor. MHRE Inc., Managing Director, Christopher Nortley procured the buyer of the asset for another succesful off market transaction. Christopher Nortley, Managing Director commented, “We are pleased to announce the closing of these three communities.  The portfolio has...

the MHMSM Team 02 Sep 2015 Corporate Press Releases

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Datacomp Turns New Manufactured Home App…

Datacomp Turns New Manufactured Home Appraisal Rules Into Powerful Retail Sales Tool

Contact: Datacomp800.365.1415www.datacompusa.com Grand Rapids, Michigan – Datacomp, the nation’s largest, independent provider of market-based manufactured home appraisals, has announced the availability of the Datacomp MSRV, or Market-Suggested Retail Value, a comprehensive new home valuation service intended to enable compliance with the new appraisal rules for Higher-Priced Mortgage Loans (HPML), now in effect for most financed manufactured home transactions. “The information needed to order a Datacomp MSRV for a new home transaction can be entered on our website in a matter of minutes,” said Dan Rinzema, President and CEO of Datacomp. “There’s no cumbersome data entry process or specialized knowledge necessary. We’ve made it so anyone in the office can easily order a valuation from their desktop computer, tablet or mobile device.” In addition to developing a Lender Final Sale Certificate that is...

the MHMSM Team 12 Aug 2015 Corporate Press Releases

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CU Factory Built Lending and the new HPM…

CU Factory Built Lending and the new HPML Appraisal Rule for Manufactured Housing

Directed by the upcoming changes in the HPML Appraisal Rule effective July 18th, 2015 and driven to minimize its impact on both our business partners and consumers, CU Factory Built Lending (CUFBL) has developed our approach to compliantly reconciling manufactured home loans under the new HPML Appraisal Rule.  Our plan’s key components are: Non-Qualified Mortgages (non-QM’s) Flexible Valuation Options Business Partner and consumer friendly Compliant   Non-Qualified Mortgages CUFBL, in support of the industry and our members, has chosen to continue to offer non-QM loans. If you recall, Qualified Mortgages (QM’s) are more restrictive in the debt ratio allowed, in the amount of points and fees allowed to be charged, may have more stringent length of employment and income verification guidelines, and documentation requirements for the consumer. We feel this approach to continue to offer non-QM loans...

the MHMSM Team 17 Jul 2015 Corporate Press Releases

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NADAguides New Manufactured Home Price T…

NADAguides New Manufactured Home Price Tool Will Comply With New HPML Appraisal Rule

· NADAguides New Manufactured Home Price Tool was developed to comply with the new Higher-Priced Mortgage Loans (HPML) Appraisal Rule effective July 18, 2015 · New Manufactured Home Price Tool provides an independent third party evaluation report that can be quickly and conveniently pulled and printed from any location · Allows access to new retail prices for new 2014 and 2015 manufacturer floor plans (both HUD and Modular-Coded), including a wide variety of factory-added options · This NADAguides price tool is currently being offered as a free trial of 100 price reports (retail value of $2,100) – offer expires July 17, 2015 NADAguides.com, the largest publisher of the most market-reflective pricing and information available for manufactured homes, announces its New Manufactured Home Price Tool, which has been developed to comply with the new Higher-Priced Mortgage Loans (HPML)...

the MHMSM Team 14 Jul 2015 Corporate Press Releases

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RV/MH Hall of Fame 2015 Induction Dinner…

RV/MH Hall of Fame 2015 Induction Dinner Reservations Outpace Last Year's Event

ELKHART, Ind. -- The RV/MH Hall of Fame's Induction Dinner Committee Chairman Mark Wasson (Bluelinx Corporation), reports reservations for the induction dinner honoring the Class of 2015 are running ahead of last year's reservations.  Wasson said, "As of early June 15th more than 153 friends and family of the inductees have registered which is ahead of last year's record pace of registrations." In addition to these reservations, Golf committee chairman Trey Miller is signing up foursomes for the 2015 RV/MH Hall of Fame Golf Classic.  So far 11 companies and individuals have signed on as sponsors for the dinner and golf, according to Darryl Searer, president, RV/MH Hall of Fame (Hall). This year's RV/MH Hall of Fame's annual Induction Dinner will be held on August 3, 2015, at the Hall of Fame's Event Center...

the MHMSM Team 16 Jun 2015 Corporate Press Releases

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RV/MH Museum Unveils Historic Shasta Exh…

RV/MH Museum Unveils Historic Shasta Exhibit

ELKHART, Ind. -- The RV/MH Hall of Fame and Museum's newest exhibit features a retrospective on the evolution of the iconic Shasta brand of travel trailers, according to Darryl Searer, president, RV/MH Hall of Fame (Hall).  The display includes a 1954 Shasta that's been in the museum's inventory for years and a 2015 reissue of a 1961 Shasta Airflyte 16sc, courtesy of Mick Ferkey, owner of Greeneway RV, Wisconsin Rapids, Wisconsin, and a member of the RV/MH Hall of Fame board of directors. While the reissue of a 1961 Shasta Airflyte 16sc has the look and style of the 1960s model, it is fully equipped with modern features and appliances, including a full bath. Searer noted, "Shasta has a rich heritage and is the industry's longest producer of RVs.  The brand has been...

the MHMSM Team 19 May 2015 Corporate Press Releases

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