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.
Fannie Mae has collected nearly $14 billion from eight mortgage lenders since the start of 2013 for repurchase claims, and just agreed to $591 million from Wells Fargo, which will mark the end of its efforts to collect on defective loans it bought from private lenders during the the peak […]
Fannie Mae Finalizes Repurchase Liabilities Read More
Writing for bankstocks.com, commentator Thomas Brown says while the Consumer Financial Protection Bureau (CFPB) is supposed to insure consumers get a fair shake when obtaining a mortgage, it will end up making credit more expensive and tougher to get for the people it was intended to help. It is accountable
All three major indexes made very modest gains in today’s trading as investors waited for testimony from Janet Yellen, the new head of the Federal Reserve. CNNMoney reports the Dow Jones Industrial Average edged up +7.71 points, +0.05 percent, to end the day at 15,801.79. The Nasdaq advanced +0.54 percent,
Patrick Rises, Skyline Falls, Dow is Flat Read More
The Indiana Manufactured Housing Association/Recreation Vehicle Indiana Council (IMHA/RVIC) honored past president Adriane DeRose with the President’s Award, bestowed upon a deserving board member each year. From Carefree Homes of Pendleton, Indiana, DeRose received the honor from IMHA/RVIC President Eric Oaks. The Citizen of the Year Award, presented to someone
Awards Given to DeRose, McNeil Read More
Following up on the manufactured housing statistics for 2013 MHProNews.com posted Feb. 4, the Manufactured Housing Institute (MHI) reports total floors shipped in December 2013 were 6,289, an increase of 15.1 percent compared with December 2012. As shipments increased 9.7 percent year-over-year, the number of plants reporting increased by one
One More Manufactured Housing Plant Working Read More
MHProNews.com has learned from asburyparknews.com in New Jersey, Wells Fargo Home Mortgage told a family displaced from their home by Hurricane Sandy in Oct., 2012 they could not use their insurance check to purchase a modular home. It would cost $300,000 to repair the home in Brick, NJ, and they
Sandy Victims Initially Denied Modular Home Rebuild Read More
The former AIM High School Building in Ector County, Texas is up for sale by the Ector County Independent School District (ECISD). The highest bid of $1,352,000 was submitted by Cardinal Homes, Inc., according to newswest9.com. Headquartered in Wylliesburg, Virginia, MHProNews.com has learned Cardinal has a network of modular home
Cardinal Homes Bidding on Texas Building Read More
The Board of Directors of Saudi Arabia’s Red Sea Housing Services Co., a publicly traded modular housing company, has recommended the distribution of 75 million Saudi Arabia rials (SAR), roughly $20 million at the current exchange rate, as cash dividends for 2013. According to what zawya.com tells MHProNews.com, the board
Red Sea Housing Distributes a Share for each Share Owned Read More
According to multihousingnews.com, government services enterprise (GSE) Fannie Mae reports in 2013 it provided $28.8 billion in multifamily finance, covering 507,000 multifamily units. Over 85 percent of of the multifamily units financed by Fannie Mae in 2013 were affordable to tenants earning at or below the median income in their
Fannie Mae Loans for Manufactured Homes Rise in 2013 Read More
The lukewarm jobs report from the federal government did not damper investors’ enthusiasm as the week closed on a high note after a choppy ride. CNNMoney reports the Dow Jones Industrial Average gained +165.55 points, +1.06 percent, to end the day at 15,794.08. The Nasdaq advanced +1.69 percent, +68.74 points,
Dow, Nasdaq, S&P Recover from Choppy Week; Tracked Housing Stocks Mixed Read More
The Grove, Oklahoma City Council adopted a manufactured home (MH) ordinance including revised definitions for manufactured homes, non-conforming residential manufactured home communities and residential manufactured home communities. The ordinance says where an MH can be sited and what standards an MH must meet in order to be placed in Grove,
City Approves Manufactured Housing Revisions Read More
The U. S. Department of Justice has informed MHProNews.com that the owner and manager of Four Seasons Estates Mobile Home Park in Effingham, Illinois have been charged with violating the Fair Housing Act’s (FHA) prohibition against racial discrimination in their 126 homesite community. Owner Lorraine Wallschlaeger and manager Barbara Crubaugh,
Justice Hits MHC with Fair Housing Complaint Read More
In an interview with Bloomberg News‘ Betty Liu, investor Sam Zell says the residential market in 2014 will be benign. “The demand for single-family houses is, in my judgment, muted.” Asked what happened to all the demand for the generation Xers who are supposed to be moving out of their
Zell: U. S. becoming more Urbanized Read More
Following a story MHProNews,com posted Feb. 5, 2014 regarding certification of manufactured housing installers in Iowa, Joe Kelly, executive vice-president of the Iowa Manufactured Housing Association (IAMHA), says the state has reduced the number of hours of continuing education from 12 to 8. The current three year certification ends June
Iowa Manufactured Home Installers Need Fewer Hours Read More
According to the National Association of Home Builders (NAHB)/First American Leading Markets Index (LMI), markets in 58 out of the approximately 350 metro areas nationwide returned to or exceeded their last normal levels of economic and housing activity, a net gain of two points over last month. Based on current
Leading Housing Markets Index Nudges Higher Read More
All three major indexes gained over one percent in today’s trading as investors anticipate a good jobs report from the government tomorrow, Fri., Feb. 7. CNNMoney reports the Dow gained +188.30 points, +1.22 percent, to end the day at 15,628.533. Nasdaq advanced +1.14 percent, +45.57 points, to finish at 4,057.12,
Louisiana Pacific Advances; Dow, Nasdaq, S&P Climb over One Percent Read More
BlueLinx Holdings Inc. (NYSE:BXC), a component supplier to the manufactured housing industry, will release fourth quarter financial results before the market opens on Thursday, Feb. 20, according to Nasdaq.com, followed by a conference call at 10:00 AM. CEO Mitch Lewis, and CFO and treasurer Doug Goforth will discuss the company’s
Component Supplier to the Manufactured Housing Industry to Release Financials Read More
Following the thread of a story MHProNews.com posted Feb. 3, 2014 regarding the Kenya government’s plan to build thousands of modular homes for low-income residents, Canadian investor Charles Field-Marsham says the growing middle class among the 800 million in sub-Sahara Africa offers lucrative markets to tap into. A stockbroker in
Modular Housing Growing in Africa Read More
A study commissioned by the National Association of Home Builders (NAHB) and conducted by GuildQuality, a leading provider of surveys for the residential building industry, revealed the satisfaction level of purchasers of National Green Building Standard homes. Key findings of the study indicate: 94% would recommend a green home to
Owners of Green Homes 80% Satisfied Read More
A Mortgage Bankers Association (MBA) report says mortgage applications nudged up 0.4 percent for the week ending Jan. 31 from the previous week, while refinance mortgage activity remained at 62 percent of mortgage applications. While the refinance index grew 3% from the previous week, the purchase index declined 4% from
As Mortgage Apps Edge Up, Rates Edge Down Read More
