Volume Buyers

Keeping you informed and updated!

Agencies Set Mortgage-Servicing Rules for Military Members

On June 21st, 2012 the Consumer Financial Protection Bureau (CFPB), Federal Reserve, Federal Deposit Insurance Corp., National Credit Union Administration and The Office of the Comptroller of the Currency issued that mortgage servicers to provide servicemembers with guidance about information that they need to sell their homes.  This guidance also extends to modifying their loans when they must relocate.  For additional information click here for the press release.

The goal here is to provide the servicemembers who are receiving permanent change in station orders are obtaining “Clear, accurate, and timely information about available options such as loan modification or short sale,” declared the CFPB director, Richard Cordray.

According to the CFPB, approximately one-third of active duty servicemembers get these orders each year and the Department of Defense figures about 180,000 members of the military are homeowners.

The guidance also addresses two specific practices: asking servicemembers to waive their rights under the servicemembers Civil Relief Act as a condition for assistance or skip mortgage payments to become eligible for assistance.

June 26, 2012 Posted by | Financial Information | , , , , , , , , | Leave a comment

Numbers are up in April 2012!

More great news – 4,650 new manufactured homes were shipped which is up 17.6% from April in 2011.  The increase was felt across the board with shipments up in both single-section and multisection homes.

Continuing the trend for 2012, single-section homes were the largest portion of the increase for all four months of the year.  The single-section homes in April 2012 were up 23.4% in comparison to April 2011.

In comparison to the first four months of 2011 – the 2012 shipments were up a net increase of 27.7% or in other words 17,430 homes were shipped in 2012 in comparison to the 13,650 homes shipped in 2011.

The *SAAR or the seasonally adjusted annual rate of shipments in April 2012 was 52,642 which was down 8.1% from the rate of 57,286 in March 2012.

A total of 7,124 floors were shipped in the month of April which is an increase of 16.1% from 2011.  Plants reporting production in April was 123 which was one up from March and number of corporations was 45 which was one down from the number in the previous month.

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

June 20, 2012 Posted by | General Information | , , , , , , , | Leave a comment