A mortgage lender is being sued by the Consumer Financial Protection Bureau (CFPB) for allegedly paying bonuses to loan originators that charged consumers higher interest rates in violation of the loan officer compensation rule. The 85th largest lender in the country, Castle and Cooke Mortgage LLC of Salt Lake City […]
CFPB Sues Lender for Violating Compensation Rule Read More
Sales of new single-family homes spiked 8.3 percent in June to a seasonally-adjusted annual rate of 497,000 units, says the National Association of Home Builders (NAHB), their best pace in the last five years, according to the Dept. of Housing and Urban Development and the Census Bureau. The inventory of
New Home Sales Rise in June Read More
In addition to 55 plus housing for seniors and continuing-care communities, another option that offers financial and supportive care benefits is a modular unit that can be placed adjacent to an adult child’s home. These temporary Accessory Dwelling Units (ADUs) allow seniors to be independent yet safe and close to
Seniors Served by Modular Units Adjacent to Adult Child’s Home Read More
While the Manufactured Housing Association for Regulatory Reform (MHARR) reports the government-sponsored enterprise (GSE) finance reform bill in the House, called the Protecting American Taxpayers and Homeowners Act (PATH), is being prepared to move forward, there is no indication manufactured housing consumer financing is included. Although some industry reports say
Manufactured Housing Finance Needs to be in Reform Bill Read More
While sales of existing homes slipped 1.2 percent in June from May, the National Association of Realtors (NAR) says sales rose 15.2 percent over June of 2012. The seasonally-adjusted annual rate (SAAR) fell from 5.14 million in May to 5.08 million in June. Lawrence Yun, NAR’s chief economist, says higher
Existing Home Sales Rise over Last Year Read More
A new modular home dealer in Jamestown, North Dakota will allow prospective customers the opportunity to tour their model homes between 5 and 9 PM, after the office is closed for the day. Jodi and Cory Bayer’s Marvel Homes will be supplied by Wisconsin Homes of Marshfield, Wis., offering cabins,
New Modular Home Dealer to Open Read More
As sales of manufactured housing’s sister industry, the recreational vehicle (RV) business, began accelerating in mid-2012, it also spurred the sales of several manufactured housing (MH) component suppliers. Shipments of motor homes rose 30 percent through May of this year compared to 2012. Drew Industries, Inc., one of the three
RV Sales Spike Manufactured Housing Component Suppliers Read More
The non-profit Next Step, based in Louisville, Kent. has helped over 100 families purchase energy-efficient manufactured homes through its connections with affordable housing organizations across the country. Partnering with Maryville, Tenn.-based Clayton Homes, the largest producer of manufactured homes in North America, Next Step has placed homes in 20 states.
Non-profit Housing Organization Teams with Clayton Homes Read More
With a wealth of manufactured housing in her background, Kathy Tompkins, of Grand Valley, Colo. has joined Heiden Homes Realty and Associates in Grand Junction. She currently owns Manufactured Home Parts, established in 2000, and specializes in manufactured home sales. A general contractor for 13 years, gjsentinel informs MHProNews Tompkins
Realtor Specializes in Manufactured Homes Read More
Building permits for single-family and multifamily housing construction are on the rise in Alaska’s capital city, Juneau for this year, including investment in manufactured housing (MH). An MH community in town has replaced 12 older homes with 12 brand new manufactured homes, according to Community Development Director Hal Hart. Additionally,
Juneau Sees New Manufactured Housing Read More
According to government figures the pace of home building fell in June, mostly due to a drop in multifamily construction, as single-family starts fell one percent from May to June although the rate is still ten percent above year-ago levels. Work began on new homes at a seasonally-adjusted annual rate
Home-building Starts and Permits Drop Read More
Site development of the first of four modular homes is set for Monday, July 22 in Chambersburg, Penn., with two of the three-bedroom two-story homes ready for occupancy Oct. 1 of this year. The goal of city officials is to encourage affordable homeownership in the Southgate area where millions of
Affordable Modular Homes Rising in Pennsylvania Read More
According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) for July, builder confidence for newly-built single-family homes rose six points to 57, the index’s third consecutive monthly gain and the highest reading since Jan. 2006. Based on builder perceptions of current home sales, traffic of
Newly-built Housing Index Highest in Seven Years Read More
On July 10th, the Consumer Financial Protection Bureau (CFPB), in cooperation with five other federal agencies, issued joint proposed regulations providing exemptions from appraisal requirements for certain higher-priced mortgage loans (HPMLs), which would include manufactured home loans. Imposed by the Dodd-Frank Act, mortgage loans are considered to be higher-priced if
Exemption for certain Manufactured Housing Appraisals on Tap Read More
Real estate bargain-hunter mogul John Bushman of Odessa, Tex. started a used car business in Midland, in 1968 with $1,500. A year later opened he A-1 Homes, selling factory-built homes that grew to 23 locations and later included a factory making manufactured homes. The automobile business also did well, and
Texas Investor Continues his Manufactured Housing Roots Read More
In a 2011 survey conducted by the U. S. Census Bureau and the Dept. of Housing and Urban Development (HUD), covering approximately 132.4 million housing units, 90 million are single-family homes, 9.07 million are manufactured homes, and 10.7 million are sited in two to four family buildings. 10.3 million of
Extensive Housing Data from 2011 Read More
The Liberty City Council in Liberty, Tex., just northeast of Houston, revised its ordinance regarding the replacement of a manufactured home destroyed in a natural disaster so it aligns with state law. A home ruined by a fire or natural catastrophe does not count under the one-time replacement rule as
City Revises Manufactured Housing Rule to be in Sync with State Law Read More
The U.S. Senate is considering rewriting the tax code which could eliminate housing tax incentives and thereby negatively affect all home residential construction businesses as well as home values, taxes, and the economy in general. The mortgage interest deduction and the Low Income Housing Tax Credit could both be at
National Association of Home Builders Sounds the Alarm Read More
Growing faster than any other segment of the housing industry, the Building Systems Council in Nova Scotia, Canada says manufactured and modular home sales comprise 7-8 percent of the total housing market, having increased in sales by 50 percent the last 15 years. Trevor McKay of the North Grant Park
Manufactured and Modular Home Sales Rise in the North Read More
The 25-metropolitan-area RPX Composite home price increased 13.1 percent April 2012 to April 2013, and was up 2.7 percent over March 2013, as Radar Logic Inc. reported in its RPX Monthly Housing Market Report. From its low of $169.62 per square foot in Jan. 2012, the RPX Composite increased 23.7
Home Values Continue Rising Read More
