According to CNN Money, the tab to bail out Fannie and Freddie will continue to grow, says the Federal Housing Finance Agency (FHFA), which oversees the duo. It says the estimated costs through 2013 could increase by as much as $210 billion, that on top of the blank check that […]
Costs of Fannie and Freddie to Climb Read More
It may not have the same emotions attached as Obamacare, but the reform of Fannie Mae and Freddie Mac may get complicated because the administration’s plan is not specific in some areas, leaving the door open to many options, says an article on GlobeSt.com. Mark Oesterle, former counsel to the
Battle Over GSEs May Be Looming In Congress Read More
If you are looking to build a new home, do it now, according to the National Association of Home Builders (NAHB). Construction costs have fallen during the housing crunch, but are steadily creeping back upward. According to an article in the Los Angeles Times, nine years ago construction costs made
Construction Costs, Interest Rates Likely to Rise Read More
The Williston Herald in North Dakota reports that a local company is installing modular homes to house its employees and possibly their families. The two-story building will have four apartments per floor, and people may start to occupy the apartments in 30 days. This is the first project in Williston
Modular Homes for Housing Employees Read More
The Dow gained 43.97 points to close at 12,273.26. The NASDAQ gained 18.99 points to end the week at 2,809.44, and the S&P was up 7.28 to close at 1329.15. The Manufactured Housing Composite Value was up 2.92 percent to close at 1161.20. In individual stocks, Skyline Corporation ended at
Stocks Gained at Close of Market Friday, Feb.11 Read More
On Feb. 11 the Obama Administration offered a plan to reform the mortgage finance industry. It would involve shrinking Fannie Mae and Freddie Mac at 10 percent per year, requiring a down payment of at least 10 percent for Fannie and Freddie loans, and making other changes to help increase
White House Plans for Housing Mortgage Reform Read More
Disappointing earnings news had stocks ten points lower Thursday, while the Manufactured Housing Composite Value rose 1.4 percent. Cavco closed higher by more than one percent and Skyline Corporation enjoyed a 3.6 percent gain. On the downside, Nobility Homes and Universal Forest Products were down more than three percent.
Dow Closes Lower, MH Composite Gains Read More
CNET News reports that modular classrooms for public schools may move beyond the temporary to a more permanent status. The Bolsa Knolls Middle School in Salinas, CA is made of almost entirely recyclable materials, and exceeds the California Title Energy Code by 30 percent. Built by American Modular Systems, the
Modular School Buildings in California from Recyclables Read More
The Utah legislature is set to hear discussion on a proposed bill that would set up an arbitration mechanism between homeowners and community owners. This bill would charge community owners an annual $10 fee to fund a potential mediation process. Homeowners claim they are at the mercy of the community
Homeowners Try to Level Playing Field Read More
Delaware House Bill 392, enacted in July 2010, requires a manufactured housing community to have a community center available for its residents. As reported in the DelawareOnLine News Journal of February 9, in an August 2010 meeting with state legislators, a homeowners association (HOA) president claimed his community did not
Dispute Over Community Center in Delaware Read More
In a January, 2011 online poll of 2,079 adults over 18, conducted by Harris Interactive on behalf of Trulia, the real estate search engine, 70 percent still view home ownership as being part of their American Dream, and 78 percent think their home is the best investment they have ever
Trulia’s American Dream Survey Read More
The Small Business Jobs Act of 2010 mandates that as of Jan.1, 2011, independent landlords must file IRS Form 1099 for transactions totaling more than $600.00 in a year. In addition, according to a report from the National Association of Home Builders (NAHB), beginning in 2012 all businesses will be
Small Business Hit with Costly IRS Reporting Read More
Net income for this provider of manufactured homes and RV’s jumped nearly 13 percent to $38.4 million over 2009 despite the economic downturn. According to Medill Reports, this Chicago-based real estate investment trust (REIT), which has a controlling interest in over 300 North American resorts comprising more than 10,000 home
Equity Lifestyle Properties Rebounds Read More
The Credit Union Times reports that San Antonio Federal Credit Union Chief Operating Officer Stephen S. Hennigan has been named president of the credit union. The Trade Journal says Hennigan has been credited with being integral in helping create Credit Union Factory Built Lending, a credit union service organization (CUSO),
MH Lending Guru Names President of Credit Union Read More
According to the Manufactured Housing Institute (MHI)’s Monthly Economic Report, just under 2,800 new single and double section HUD code homes were shipped in December 2010, down 22.2 percent from the previous December. On the year, total shipments numbered 50,046 as compared to 49,789 for 2009. Total floors shipped in
Industry Shipments Up 0.5 Percent Read More
In a letter to Treasury Secretary Timothy Geithner and HUD Secretary Shaun Donovan dated February 9, American Bankers Association (ABA)’s President and CEO Frank Keating suggests the government’s primary role be limited to ensuring stability in the event of market failure, and it should gradually exit the primary housing finance
Bankers: Government Should Exit Finance Market Read More
In an attempt to reduce the government’s role in the mortgage business, the Obama administration – according to a CNN Money report – is proposing to eventually shut down Fannie Mae and Freddie Mac, and will offer several options as part of its plan. In the pockets of taxpayers to
Fannie and Freddie Could Be Phased Out Read More
Home values in the United States posted their largest quarterly decline since the first quarter of 2009, falling 2.6 percent as the temporary stimulus of the home buyer tax credits wore off, according to Zillow’s fourth quarter Real Estate Market Reports. The Zillow Home Value Index declined 5.9 percent year-over-year
Home Values Post Another Decline Read More
The Dow added more than 70 points Tuesday, logging the seventh straight day of gains, on good news from consumer companies like McDonald’s and JCPenney. The Manufactured Housing Composite Value added 2.6 percent. Manufactured housing and related stocks with strong performance include Skyline Corporation, Nobility Homes, Cavco and Universal Forest
Consumer Companies, MH Stocks Have Good Day on Wall Street Read More
From Sunbury, Pennsylvania the Danbury Item ran a story this week about that state’s sprinkler mandate. The mandate went into effect January 1 and requires all new one- and two-family homes in Pennsylvania to have an automatic fire sprinkler system. Builders estimate the cost can range anywhere from $5,000 to
PA Groups Fighting Sprinkler Mandate Read More
