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.
MHProNews has been informed Federal Housing Administration (FHA) Commissioner Carol Galante will be leaving her position at the end of the year to become an affordable housing professor at the University of California, Berkeley. With the agency for five years, the last two as commissioner, while the FHA has helped […]
Carol Galante leaving FHA Head Post Read More
Following a story MHProNews last posted May 19, 2014 regarding a seven-story modular apartment building that opened in the far northern reaches of Manhattan in New York called The Stack, the Modular Building Institute honored it as the August 2014 Modular Building of the Month. Designed by Gluck+, and developed
Modular Construction Continues Growing in New York City Read More
With the introduction of FICO Score 9, medical collections will have less prominence in affecting the FICO score as credit worthiness for potential homebuyers, expected to increase by 25 points consumers’ median FICO scores, according to what housingwire.com tells MHProNews. Applauded by the National Association of Realtors (NAR) because it
FICO: Update Broadens Credit Access. VantageScore: Been There, Done That. Read More
Connie Jefferies of Damascus, Arkansas has won the seventh annual energy efficiency manufactured home (MH) makeover contest sponsored by the Electric Cooperatives of AR, according to thv11.com. Bret Curry, manager of residential energy marketing for the cooperative, says 15 percent of the state’s housing stock is manufactured homes, and some
Manufactured Home Resident wins Energy Efficiency Makeover Read More
The First American Leading Markets Index (LMI) of the National Association of Home Builders (NAHB) indicates 56 of the approximately 350 metro areas in the U. S. have exceeded or returned to normal levels of economic and housing activity, seven more than one year ago. According to the LMI, the
Metro Areas Show Modest Economic Gains Read More
The Village of Shiloh (southwestern Illinois) Board of Trustees has approved an agreement to authorize Village Administrator John Marquart to carry out the statutory requirements of the Abandoned Mobile Home Act, and assist the Valley View Estates manufactured home community in disposing of abandoned pre HUD Code homes, according to
Statute Eases Removal of Abandoned Manufactured Homes Read More
Despite global turmoil, the Dow Jones Industrial Average and the S&P 500 regained some lost ground as each gained over one percent to mark the end of a volatile week on the Big Board. The Dow Jones Industrial Average gained +185.66 points, +1.13 percent, to end the week at 16,4553.03,
Cavco Rises above other Tracked Stocks; Dow, Nasdaq and S&P 500 End Week Up Read More
Freehold, New Jersey-based UMH Properties, Inc. reports income for the second quarter of 2014 was $18,149,000 as opposed to $16,098,000 for the comparable period in 2013, according to marketwatch.com. Total expenses rose from $14,197,000 in Q2 2013 to $16,490,000, in Q2 2014, and income from community operations rose from $6,836,000
UMH Income Rises in Second Quarter Read More
Nathan Smith, Chairman of the Manufactured Housing Institute (MHI), is imploring industry members to contact their U. S. representative urging support for H. R. 1779, the Preserving Access to Manufactured Housing Act, when they return to Washington after Labor Day. The Dodd-Frank reform legislation has been successfully moved out of
Industry Members Urged to Contact U. S. Representatives Read More
Halifax, Nova Scotia, Canada-based Killam Properties, Inc. (TSX:KMP) reports for the second quarter, ending June 30, 2014 its funds from operations (FFO) per diluted share increased 5.9 percent from $0.18 to $0.19 over the same period 2013. Same store net operating income (NOI) grew by 1.3 percent, and same store
Killam Posts Earnings for Q2 2014 Read More
The National Association of Home Builders (NAHB) 55+ Housing Market Index (HMI) indicates builder confidence in the 55+ single-family housing market rose three points to 56, the highest second-quarter reading since the beginning of the index in 2008. Builder sentiment is measured by current sales, prospective buyer traffic and anticipated
Builder Confidence Rises for 55+ Market Read More
According to realestaterama.com, three manufactured housing communities in Moses Lake, Washington all become resident-owned communities, each governed by its own democratically-elected representatives. The 113 homesites comprising Lakeview Terrace, Ponderosa and Cascade Village were part of a portfolio owned by Cascade Communities, Ltd., with $3.3 million financing for the co-ops provided
Three Manufactured Home Communities Become Co-ops Read More
Forty-Five community leaders of varied backgrounds from eight counties in Pennsylvania gathered at the Federal Reserve Bank of Cleveland-Pittsburgh, sponsored by CFED’s (Corporation for Enterprise Development) Innovations in Manufactured Housing (I’M HOME), to discuss an initiative for improving the financial, health and environmental outcomes of residents of manufactured homes (MH).
Pennsylvania Conference Conclusion: Manufactured Housing Critical to Area Read More
Investors were uneasy in today’s trading, starting in the black but then fading to red, perhaps queasy about the ongoing conflict in Ukraine and the U. S. military speculating on air drops in Iraq. The Dow Jones Industrial Average nudged down -75.07 points, -0.46 percent, to end the day at
Investors, Stocks Uneasy Read More
A research note issued to investors by equities research analysts at Citigroup reiterated its “buy” rating for Drew Industries, Inc. stock, with a $51.00 target price according to intercooleronline.com. Shares of Drew traded down -0.78% on Thurs., Aug. 7, closing at $42.21. Drew has a one-year low of $40.38 and
Drew Draws a “Buy” Rating Read More
The Tennessee Republican state legislative races are pitting tea party activists against traditional conservatives in select districts, generating over $300,000 in super PAC spending, according to timesfreepress.com. “It’s a fight for the heart and soul of the Republican Party,” declared Rep. Tony Shipley, R-Kingsport, a tea party candidate who was
Clayton Homes Founder Funds Tennessee PAC Read More
New ordinances proposed by the West Frankfort, Illinois Planning Commission would prohibit the siting of single-section manufactured homes (MH) within the city limits, as well as ban any manufactured home communities from being in the city. According to dailyamericannews.com, the codes regarding MH have not been updated since 1993, and
Proposal would Ban Single-section Manufactured Homes from Town Read More
Following a story MHProNews posted July 24, 2014, North Carolina Governor Pat McCrory signed legislation which exempts temporary health care structures from zoning ordinances, thereby allowing stand-alone modular structures with healthcare amenities to be sited on properties with single-family homes. “This bipartisan legislation will provide an alternative for families to
North Carolina Allows Modular Health Care Structures Read More
Following a story MHProNews posted June 4, 2014, U.S. District Judge Richard Voorhees imposed a 50 month prison sentence on Marina A. McCuen for her role in a mortgage-fraud conspiracy that originated $158 million in fraudulent federally-secured loans on manufactured and modular homes in North and South Carolina. She worked
Defendant Sentenced in Fraudulent HUD Code/Mod Mortgage Scheme Read More
School overcrowding in Washoe County, Nevada has led to the acquisition of 94 modular units, each with two classrooms, over some 30 years, and another $400,000 this year for classrooms for 13 schools in the school district that encompasses Reno. According to rgj.com, at least 15 of the district schools
Reno Schools Maintained by Modular Classrooms Read More
