NYTimes reports that The Federal Housing Finance Agency (FHFA), which oversees mortgage giants Fannie Mae and Freddie Mac, is ready to file suit against over a dozen major banks, alleging they misrepresented the quality of the mortgage securities. The FHFA legal actions will argue that banks failed to perform proper […]
Feds ready to sue major banks over mortgages Read More
Reuters reports that while quarterly profits looked good, gloomier times are ahead for Canada’s resilient banks. Canada’s banks stayed strong through the financial crisis which largely beat analysts’ expectations with their third-quarter results. Analysts expect narrow lending margins and increased caution by already overstretched borrowers in the months ahead. “The
Canada bank profits surprisingly strong in Q3, but are storm clouds ahead? Read More
InfoZine reports that Beth Phillips, United States Attorney for the Western District of Missouri, announced that an Independence, MO. woman was indicted by a federal grand jury today for her role in a conspiracy to violate the civil rights of a bi-racial person. Teresa Witthar was charged in a seven-count
Indictment obtained in an MHC plot to violate bi-racial person’s civil rights Read More
CNNMoney reports that the Dow slipped back into negative territory today. The Dow closed at 11,493.57 -119.96 -1.03%, off -0.73% year to date. Headlines included Goldman Sach’s slap on robo-signing, the White House’s ‘slower jobs recovery’ statement and the IRS giving a break to those impacted by Hurricane Irene. Yahoo!
Dow retreats along with most manufactured housing stocks Read More
SeattlePI reports green builder Sloan Ritchie of Cascade Built unveiled their latest single-family home project. It is the billed as one of Seattle’s first modern prefab modular LEED Platinum homes. In the the heart of Seattle’s Madison Valley neighborhood, and next door to the company’s acclaimed “Alley House” built in
Method/Cascade’s Platinum LEED modular home Read More
DailyTownsmen reports that Baker’s Garden officially opened with a ribbon-cutting ceremony for the 36 unit designed for seniors and the handicapped. Baker’s Garden is touted as the largest modular development to date in the British Columbia (B.C.) Senior Rental Housing Initiative. The project is the result of a partnership between
BC Modular development officially opens Read More
ComplexCityGuide reports that New York City recently declared a mandatory evacuation for some 370,000 residents in advance of Hurricane Irene. Accommodations for less than 70,000 residents were available. Had a major disaster hit, where would people in the Big Apple go? Back in 2008 the city’s Office of Emergency Management
FEMA units high rise plan for the Big Apple? Could be. Read More
RegisterHerald reports that students from Beckley, West Virgina Academy of Careers and Technology (ACT) put their training to work by building an actual modular home that will be auctioned through a sealed bid. Principal Charles Pack said “Not only do they learn about it, they are able to actually build
ACT Modular home being sold through sealed bids Read More
WGMD reports that Delaware Attorney General Beau Biden announced recently that his office will conduct manufactured housing information workshops. Two are planned for September. The Workshops will feature speakers from the Department of Justice Consumer Protection Unit along with a variety of other state and local officials. “Delawareans who own
AG Beau Biden announced September workshops on Manufactured Housing Read More
CNNMoney reports the Dow rose again, closing at 11,613.53 +53.58 +0.46% +0.31%Year-to-Date. Headlines included Justice’s suit to block AT&T and T-Mobile merger, how that DOJ suit boosted Sprint and the strength of the Swiss franc. The Yahoo Financial Manufactured Housing Composite Index value rose to 867.7 +1.21%. Affiliated Managers Group,
Dow returns to plus money YTD 2011, MH mostly up Read More
SouthCoastToday reports their ‘home of the week’ pick as a multi-sectional manufactured home in a manufactured home land lease community. The home is located in West Wareham, MA, in Greentree Estates Manufactured Housing Community. The location is a 55+ community off Charlotte Furnace Road. June R. Johnson, of Johnson Bayside
South Boston area ‘home of the week?’ Multi-sectional in a manufactured home community Read More
WSJ reports that employee fraud – from check-forgery, petty cash to billing larceny schemes – often rises in tough economic times. Employees feeling financial pressure often fuels the problem. Small companies are especially vulnerable because they often lack stringent internal controls to prevent fraud. Managers may attribute lost funds to
Employee fraud plagues small businesses during downturns Read More
Forbes reports that recreational vehicle and manufactured home component maker Drew Industries announced late Monday the acquisition of Starquest Products, LLC for $22.6 million. Starquest and its affiliate Qualitec Manufacturing make windows primarily for truck caps, those fiberglass enclosures that fit of pickup truck beds. They also produce windows for
Drew buys Starquest for 22.6 million Read More
OregonLive reports that garden designer Gail Dresner stumbled upon the manufactured home community lifestyle doing an online search for an affordable island house. When nothing in her budget popped up in internet searches, Dresner said: “Finally, I put in zero for the lower parameter,” Dresner says. “It exploded with manufactured
Garden designer discovers MH Community lifestyle, shares tips Read More
CNNMoney reports that a rocky session on the Dow ended with a plus column finish 11,559.95 +20.70 (+0.18% ). Fed discussion of QE3, BoA ‘not out of the woods yet,’ low consumer confidence and housing struggles were among the headlines. The Manufactured Housing Composite Value rose to 857.3 up +2.33%. Affiliated
Rocky ride, but Dow closes with uptide, MH Composite rises Read More
NAHB reports they applauded the Environmental Protection Agency’s decision to reconsider the imposition of a nationwide cap on how much sediment can be part of the stormwater draining from a construction site. The National Association of Home Builders (NAHB) said the Effluent Limitation Guidelines (ELGs) reversal by the EPA was
EPA backs down to NAHB over ELGs lawsuit Read More
Bloomberg reports the following is a summary of U.S. manufactured housing activity from the Census Bureau. The average sales price fell to $58,800 from $63,500 a month earlier. =============================================================================== June May April March Feb. Jan. 6 mo June 2011 2011 2011 2011 2011 2011 Avg. YoY% =============================================================================== ———– Thousands
U.S. June Manufactured Housing SAAR shipments rose to 50,000 Read More
HuffPost reports that former Republican congressman Pete Hoekstra, in his campaign for the U.S. Senate in Michigan, called for the repeal or reform of Dodd-Frank on Monday, arguing that “the heavy hand of the federal government” is making it impossible for bankers to do their jobs. “Either repeal or significant
U.S Senate candidate calls for repeal of Dodd-Frank Read More
SeekingAlpha reports on stocks positioned to take advantage of current needs and future improvements in the housing sector. The report notes that while single family housing is still struggling, multi-family housing starts are up almost 8% in July with FHA multi-family mortgages at a record high. Home fix ups as
Seeking Alpha likes Buffett’s Berkshire Hathaway in housing Read More
WIFR and RockfordRegisterStar report that Rockford area manufactured home communities were among those awarded grants by the Illinois EPA for upgrades to their water systems. Illinois EPA Interim Director, Lisa Bonnett awarded close to $2 million to 18 small communities across the state for repair and improvements to their public
Manufactured Home Communities recieve grants to improve water systems Read More
