News Reports: Housing news updates and reports for Manufactured Home and Modular Housing Industry professionals and investors. Business – daily fact checks, market reports, and analysis.
Regulators have been encouraging mortgage lenders to relax credit, saying that will fuel the tepid housing market, while others say lowering FICO scores to include more low-income borrowers will lead to more defaults. “We simply don’t have enough qualified homebuyers even with mortgage rates getting as low as 3.25%,” says […]
Relaxed Credit: Kickstart Housing or Overheat the Housing Market? Read More
According to the index compiled by The Conference Board, consumer sentiment has risen this month to 84.6, two points above the end of August and five points above the mid-August reading of 79.2. However, the gain is in the expectations component, not the current conditions aspect, which actually fell to
Consumer Sentiment Rises Read More
Stocks pulled back in trading the last day of the week, with all three major indexes drifting lower. The Dow Jones Industrial Average dropped -0.36 percent, -61.49 points, to end the week at 16,987.51, while the Nasdaq fell -0.53 percent, -24.21 points, to close at 4,567.60. The S&P 500 lost
All Tracked Stocks except AMG Fall or Remain even; MF Composite,Dow, Nasdaq and S&P Fall Read More
The Federal Housing Administration (FHA) wants to reach out to borrowers with credit scores of 640-680 because lenders have pulled back from that borrower class over the last ten years, according to Frank Vetrano, of FHA’s risk management and regulatory affairs division, noting the housing downturn took many of these
FHA Reaching Back to Borrowers with Lower Credit Scores Read More
Case-Shiller’s improved house price index (HPI) now offers a monthly read on the housing market instead of a quarterly overview, according to housingwire.com. Paul Diggle of Capital Economics says, “The new index suggests that prices ‘only’ fell by 26% during the crash, relative to 34% on the previous quarterly index.
New Index: Housing Crash not so bad; Recovery not so Good Read More
Skyline Corporation received a going concern qualification from its independent registered public accounting firm, which was included in the Corporation’s Annual Report on Form 10-K, included with its consolidated financial statements for its fiscal year ending May 31, 2014, according to yahoofinance.com. The independent audit was filed with the Securities
Audit Gives Skyline a Going Concern Qualification Read More
Data from the Mortgage Bankers Association (MBA) reveals mortgage applications to buy a new home fell nine percent in August, according to nationalmortgagenews.com. New single-family home sales fell 2.1 percent from the July rate of 433,000 units, on a seasonally adjusted annual rate (SAAR), to 424,000 in August, while the
New Home Mortgage Applications Fall in August Read More
Despite the terrorist group ISIS’ vicious reshaping of boundaries in the Middle East, Wall Street does not feel the pinch because oil prices have not been affected. Crude oil is $15 a barrel lower than last year at this time. However, stocks were fairly flat in trading today, as the
Liberty Homes Skyrockets, MH Composite, Dow Slip; Nasdaq, S&P Nudge up Read More
Following a story MHProNews posted Sept. 16, 2013 regarding the disastrous flooding in Colorado, the Federal Emergency Management Agency (FEMA) says it distributed $61,634,523 to uninsured homeowners hit by the flooding and rain, including $31,900 each to nearly all the residents of two manufactured home communities (MHCs) along the South
Colorado MH Owners Float with FEMA Funds, while MHC Owners Sink Read More
Donald Salmon of TBI Mortgage says private investors are beginning to buy mortgages written just for self-employed borrowers who put down 30 percent and have good credit scores. Instead of looking at paychecks, they examine a twelve-month bank statement to determine if the borrower can afford the home, nationalmortgagenews.com reports.
Loans Moving from FHA to Fannie and Freddie; Freddie Inaugurates MHC Loan Read More
Federal Housing Finance Agency (FHFA) Director Mel Watt told a gathering of the American Mortgage Conference he supports the merger of Federal Home Loan Banks (FHLB) but wants to gather more information before giving required approval, and is currently offering a consultative role to FHLBs in Seattle and Des Moines
FHFA Director Watt Favors FHLB Mergers Read More
The Falkville Town Council in Alabama held a public hearing concerning changing the zoning ordinance for manufactured homes (MH) to allow subdivisions of MH in new areas zoned MH-S, according to hartselleenquirer.com. The ordinance will continue to allow manufactured homes in residential R-1 and R-2 or agricultural zones AG-1 on
Alabama Town Attracting Manufactured Home Subdivisions Read More
The winner of Clayton Homes’ Enjoy Life Sweepstakes will receive two tickets to Super Bowl XLIX in Arizona Feb. 1, 2015, including air fare and a four-day, three-night stay in a hotel. To be eligible you must enter by noon, Sept. 30, according to nassualivenews.com. The second prize is a
Super Bowl Tix are Top Prize in Clayton Sweepstakes Read More
According to CNNMoney.com, 40 million Americans now have student loan debt, reports credit bureau Experian, an increase from 28 million in 2008; and the amount of debt has risen from $23,000 to $28,000 during that same period. Total student loan debt now stands at $1.2 trillion, an all-time high and
Rising Student Loan Debt—Pathway to Manufactured Housing? Read More
As the Israeli-Palestinian and the Ukraine-Russia conflicts abate somewhat, the Ebola crisis in Africa grows and the terrorist threat in Iraq looms larger, but on the Big Board today, the three major indexes all made modest gains, while tracked stocks closed mixed or even, as CNNMoney tells MHProNews. The Dow
Cavco Gains, Berkshire Remains above 200k, S&P Shy of 2,000 Read More
National Association of Home Builders Chairman Kevin Kelly commends the House of Representatives for passing legislation championed by Rep. Steve Southerland (R-Fla) that curtails the reach of the U. S. Army Corps of Engineers and the Environmental Protection Agency (EPA) over waters of the U. S. Specifically, HR 5078, the
House Passes Legislation Limiting EPA and Corps Intrusion onto Buildable Land Read More
Thirteen modular kit homes sold through the Sears, Roebuck & Co. catalogue from 1908 to 1940 remain in good shape in Alabama. According to al.com, several are twin homes set side-by-side; in one case the homes were built by a man for his two daughters. The two ten-room Magnolia Mansions
Sears Homes were Early Modular Homes Read More
Halifax, Nova Scotia, Canada-based Killam Properties, Inc. (KMP.TO) announces it is acquiring a 50 percent stake in a 152-unit apartment building in Ottawa, Ontario, called Kanata Lakes Apartments II, in a joint venture with affiliates of KingSett Capital, Inc. and AIMCo Realty Investors LP. Killam’s 50 percent share of the
Canada’s MHC Owner Killam Acquires Interest in Apartments Read More
Australian builder Nova Deko, realizing that shipping containers are overbuilt in terms of converting them to homes, is taking advantage of the transportation handling system that made globalism happen by building modular homes in China the same size as containers so they can be easily transported. Built in a factory
Chinese Modular Homes Made Shippable like Containers Read More
The board of directors of Equity LifeStyle Properties, Inc. (NYSE:ELS) declared a quarterly dividend of $0.325 per common share, representing an annual dividend of $1.30 per share, according to wallstreetscope.com. The dividend will be paid Oct. 10, 2014 to shareholders of record on Sept. 26, 2014. In today’s trading, Sept.
Equity LifeStyle Properties Board Declares Dividend Read More
