There Is Light at the End of the Tunnel…..

….so says several economists, according to this Bloomberg article.

Here is a key quote from Mark Fleming of CoreLogic:

“It’s just a matter of months before we get positive year- over-year numbers in the overall index,” Fleming said in a telephone interview from Washington. “Our data lags the reality. The turnaround is happening in the March, April and May time frame.”

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VAMMHA Executive Director Featured in RTD “60 Seconds” Profile

The entire story is here.

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IBIS Report on “Dying Industries” Misses the Mark

So says Paul Bradley in a report posted on www.mhmsm.com.

Here is a snippet:

The IBIS report is worthy of a good punch package for those who seem to think that a catchy title and a thin review of actual market conditions makes for “intelligent” judgment and bold pronouncements.

While a report like this might be good business development for IBIS, I can only say, not with me.

 

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March, 2011 Old Dominion Outlook

The March, 2011 Old Dominion Outlook has hit the newsstands of cyberspace. CLICK HERE to pick up a copy.

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HUD Proposes 51% Fee Increase on Manufactured Housing

From our friends at the Manufactured Housing Institute:

HUD’s FY2012 Budget Proposes a 51 Percent Increase in Manufactured Home Fees

On Monday, February 14, the Department of Housing and Urban Development (HUD) unveiled its fiscal year 2012 budget, which includes $14 million for the administration of the Manufactured Housing Program.

The budget proposal is $2 million more than the budget in FY2010, and $2 million less than the amount being considered by Congress next week under a Continuing Resolution for the FY2011 budget of the United States.

The proposal is based on an increase of the label fee from $39 to $60 for each transportable unit ($4.8 million in fee income) and $2.2 million in user fees for services rendered under the dispute resolution and installation programs to be administered by HUD in states without their own programs. In addition, HUD is requesting a direct Congressional appropriation of $7 million. HUD says it needs the $7 million in additional funding because fee income, even with a fee increase, is not sufficient to carry out its mandated functions under the program.

HUD’s budget estimates usage of the $14 million as follows:

– $3.7 million in payments to 37 State Administrative Agencies

– $3.3 million in payments to HUD’s monitoring contractor, IBTS for monitoring the performance of manufacturers through oversight of 16 primary inspection agencies and SAA’s

– $.4 million to administer the Manufactured Housing Consensus Committee

– $5.1 million to administer the manufactured home installation program in 19 states without a state administered program, and 27 states without dispute resolution programs

– $1.5 million in other contracts

HUD will need to issue rulemaking in order to increase the fee. MHI will challenge this steep increase – at a time when the industry and our customers can ill afford it.

For more information, MHI members can contact Lois Starkey at [email protected] or (703) 558-0654.

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February, 2011 Old Dominion Outlook

The February, 2011 edition of the Old Dominion Outlook has been published. It may be viewed here.

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Fannie Mae Fee Increase on the Horizon

From our friends at the Manufactured Housing Institute (MHI):

On December 23, Fannie Mae indicated it would be imposing a new schedule of higher add-on fees. The new fee structure will go into affect on April 1, 2011 for all loans purchased and loans delivered into mortgage-backed securities. Fannie will begin charging an additional 0.25 percent, across the board, on all loans. The fee increase is similar to the one enacted by Freddie Mac earlier in 2010. Click here to view the Loan Level Price Adjustment (LLPA) Matrix.

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Join or Renew Online

You can now join VAMMHA or renew your VAMMHA membership online. It is a simple two-step process that can be completed in a matter of minutes. No stamps, no paper, no licking envelopes. Just a few keystrokes, and you are done. Please click here to check it out!

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January 2011 Old Dominion Outlook

The January, 2011 issue of the Old Dominion Outlook has been published. Check it out here.

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VAMMHA Social Media

You can now connect with VAMMHA on Facebook and Twitter. You can use the links over in the right column, or you can click here for our Facebook page or click here for our Twitter feed.

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