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.
Ten new honorees will be inducted into the RV/MH Hall of Fame Class of 2014 on Aug. 4, 2014 at the Hall facility in Elkhart, Indiana. MHProNews has learned the inductees from the manufactured housing industry are: • Barry Cole, president of Manufactured Housing Insurance Services and Cole Housing Corp.(insurance …
Speaking to the National Association of Realtors (NAR), Consumer Financial Protection Bureau (CFPB) Director Richard Cordray said the new mortgage regulations that take effect today, Jan. 10, 2014 will protect consumers from the type of risky loan products that contributed to The Great Recession and housing bubble. Reminding NAR members …
CFPB Director Cordray Addresses the National Association of Realtors Read More
The Wildhorse Estates subdivision in Florence, Arizona has 84 large lots designated for manufactured homes (MH), but there are only 15 MH sited, and the remainder are site-built homes, making it out of compliance with county zoning. Many homes have horses and other farm animals, some of which have more …
Housing finance reform is expected to be at the top of the agenda in Congress at the beginning of the new session, but unless the initiatives move forward quickly, chances increase they will stall as the mid-term elections approach in November. The bi-partisan proposal introduced in the Senate will pare …
Will Housing Finance Reform Please come Forward? Or Not Read More
Increasingly, more mortgage borrowers are rising to the water’s surface instead of being underwater. According to RealtyTrac, 19 percent of all homes with mortgages were “deeply underwater,” meaning they owed at least 25 percent more on their mortgages than their homes are worth in December, a total of 9.3 million …
The Clayton Family Foundation has pledged $500,000 to the Motlow College Foundation’s STEM (Science, Technology, Engineering and Math) endowment fund, according to tullahomanews.com. Jim Clayton, the founder of Clayton Homes of Maryville, Tennessee, and of the Clayton Foundation, has degrees in law and engineering, and currently is director and vice-chairman …
The three major indexes were mostly flat in today’s trading as investors awaited the government’s jobs report due out Friday, Jan 10. CNNMoney reports the Dow slid -17.98 points, -0.11 percent, to close at 16,444.76. The Nasdaq dropped -0.23 percent, -9.42 points, to finish at 4156.19, while the S&P moved …
Nobility Rises, Skyline Falls, Major Indexes Straddle the Fence Read More
Wells Fargo & Co. upgraded shares of manufactured housing community (MHC) owner Sun Communities, Inc. (NYSE:SUI) to an outperform rating from a market perform rating. Two analysts had previously cut their price target on Sun, but both now have issued an outperform rating for the stock, according to tickerreport.com. In …
Sun Communities Garners Outperform Rating on Stock Read More
A Cody, Wyoming couple was denied a variance to site a modular home on their land by the Park County Commissioners. The current ordinance prohibits mobile homes in the North Fork Planning Area where their land sits. MHProNews has learned “mobile home” includes manufactured and modular homes in their definition. …
A subsidiary of manufactured housing and recreational vehicle community owner Sun Communities, Inc. borrowed $141.5 million from Bank of America, split in to two loans. The $72.4 million Pool A Loan accrues interest at 4.89 percent annually, while the interest rate on the $69.1 million Pool B Loan is 4.90 …
The owners of Santee Modular Homes, Inc. in Orange County, South Carolina protested the county council’s decision to award a contract for debris removal to an out-of-state company instead of their firm, Santee Debris Removal. As part of the Federal Emergency Management Agency’s (FEMA) guidelines for disaster preparation, local jurisdictions …
Modular Home Builders Protest South Carolina Decision Read More
The National Association of Home Builders (NAHB)/First American Leading Markets Index (LMI), which recently replace NAHB’s improving market index (IMI), indicates markets in 56 of the 350 major metro markets returned to or exceeded their last normal levels of economic activity, indicating a net gain of two over the previous …
Minutes from the most recent Federal Reserve meeting reveal only that the Fed wants to move cautiously in tapering its stimulus bond-buying program. Meanwhile, the three major indexes moved little in today’s trading as investors await Friday’s jobs report from the government, anticipating that hiring grew in December. CNNMoney reports …
Skyline Corp. Leads the Housing Pack We Track–Again Read More
According to official statistics compiled on behalf of the U. S. Department of Housing and Urban Development (HUD), the Manufactured Housing Association for Regulatory Reform (MHARR) reports HUD-Code manufacturers produced 4,870 homes in November 2013, an increase of 11.5 percent over the 4,365 homes manufactured for the same period of …
Production of HUD Code Manufactured Homes Continues to Rise Read More
A modular house for sale in Townsville, Queensland, Australia offers spectacular views of Cleveland Bay from every room as it rests on 18 large steel pins drilled 20 feet into the rock foundation below. “It’s a very strong design because all of the columns work in unison, like spokes on …
In discussing the feasibility of a possible bid for the 2024 Summer Olympics, a Boston committee focusing on infrastructure and transportation has suggested modular construction for housing the 16,000 athletes as well as for the 80,000 seat Olympic Stadium, an aquatics center and a velodrome for indoor cycling. As masslive.com …
A monthly housing survey indicates half of the respondents are optimistic about obtaining credit for a mortgage, an increase over the 45 percent who felt that way one year ago, despite the recent rise in mortgage rates. This survey from December marks the highest sentiment of respondents since Fannie Mae …
UMH Properties, Inc., a real estate investment trust (REIT) operator of manufactured housing communities, has filed an 8-K disclosure form with the Securities and Exchange Commission (SEC) to report the change of an officer. Allison Nagelberg has served as the General Counsel of UMH and its affiliate, Monmouth Real Estate …
An analysis by Fannie Mae of its 2013 National Mortgage Survey reveals lower income borrowers are more apt to rely on advice from others, such as real estate agents and/or friends and family to determine what mortgage to choose and how much to borrow. They want loan terms and costs …
Online Shopping will Play Larger Role in Choosing Mortgages Read More
According to CoreLogic, home prices in the U. S. rose 11.8 percent in November, 2013 compared to Nov. 2012, marking the 21st consecutive month of yearly increases. “Our pending HPI (Home Price Index) projects that home prices will grow by 11.5 percent for the full year 2013,” Dr. Mark Fleming, …
