A Survey and other Important Information

Some very important information has been coming down the pipeline and I wanted to share it with you immediately.

The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued a final rule  about extending anti-money laundering (AML) and suspicious activity reporting (SAR) requirements to non-bank residential mortgage lenders and originators (RMLOs – Additional information is here about defining a RMLOs, etc. FINcen Final AML Rule for Non-Bank Mortgage Lenders 2-17-2012).  Now by August the RMLOs will be required to implements AML and SAR programs.

MHI working with McGlinchey-Stafford to create templates to assist lenders, community owners and retailers in becoming compliant with this rule.  We are asking MHI members to complete the survey in a PDF (NOLADB-#998207-v1-MHI_Member_Questionnaire_for_AML_and_SAR_Programs) or in a Word document MHI_Member_Questionnaire_for_AML_and_SAR_Programs.

In addition, we are requesting that lenders and also MHI members that could possibly be considered RMLOs such as community owners/operators, manufactured housing retailers, etc. to complete the survey.

Please follow the directions and note the information within the survey is kept strictly confidential.  Please return at your earliest convenience.  You can return your survey to Marc Lifset at mlifset@mcglinchey.com or by fax at 518.432.7290.  Feel free to contact Marc if there are any questions about the survey.  Your assistance will help us all more easily comply with this new regulatory requirement.

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Shipments are up in March 2012!

Great news is on the horizon!  New HUD code homes that were shipped in March 2012 were up 16.4% from shipments in March 2011!  A total of 4,696 new manufactured homes were shipped in March 2012.

Up 23.5% from March 2011, single section homes accounted for the largest portion of the increase.  Multi-section homes also increased from March of last year.

January, February and March 2012 shipments are up 31.8% with 12,780 shipments in comparison to March 2011 shipments of only 9,696.

The *SAAR or the seasonally adjusted annual rate was 57,268 for March of 2012.  From February’s numbers it is down 9.3%.  (February 2012’s SAAR was 63,111 shipments).

The total number of floors that were shipped were 7,132 for March of 2012 which is an increase of 14.4% in comparison to March 2011.  122 plants and 46 manufacturing companies reported production in March which is unchanged from last month.

*SAAR corrects for normal seasonal variations in shipments and projects annual shipments based on the current monthly total.