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.
Addressing the Mortgage Banker’s Association’s (MBA) annual convention, Rep. Jeb Hensarling (R-Tex), stating the Dodd-Frank Act is the real barrier to mortgage finance reform, says it could raise interest rates from one to four percentage points and reduce the number of mortgages by half. HousingWire reports the chairman of the […]
Rep. Jeb Hensarling: Dodd-Frank Extends Woes of Mortgage Finance Industry Read More
Chairman of the National Association of Home Builders (NAHB) Rick Judson commends the bi-partisan support from two Senators and two Representatives for advocating identical legislation providing relief from rising flood insurance premiums. Reps. Michael Grimm (R-N.Y.) and Maxine Waters (D-Calif.) and Sens. Robert Menendez (D-N.J.) and Johnny Isakson (R-Ga.) support
Rising Flood Insurance Premiums Addressed in Legislation Read More
A lackluster report on retail sales was not sufficient to rein in the bulls in today’s trading as the Dow and the S&P moved to new highs, encouraged by the Federal Reserve’s decision to continue its economic stimulus. CNNMoney reports the Dow Jones Industrial Average rose 111.42 points, +0.72 percent,
Cavco Rides, Patrick Slides, Dow and S&P Hit New Highs Read More
The members of a panel at the Mortgage Bankers Association (MBA) annual convention say the 30-year fixed rate mortgage (FRM) is so ingrained in the system that removing it would have unintended consequences. William McCue of McCue Mortage says nearly all of his loans are for Federal Housing Administration (FHA)-insured
FHA’s Carol Galante: Stable Housing Finance Awaits Read More
Although in line with analyst’s consensus estimates of earning $0.82 per share for Q3, 2013, Sun Communities, Inc. (SUI) had revenues of $107. 20 for the same quarter 2012, far above the $80.38 million that had been estimated. By comparison, according to Zolmax.com, earnings per share hit $0.71 for the
Sun Communities Releases Q3 Report Read More
New York City-based Meridian Capital Group LLC arranged a $150 million acquisition and permanent financing of a manufactured housing community (MHC) portfolio package for Matrix Realty Group. The portfolio contains 11 MHCs comprised of 5,347 homesites in mostly small towns, ten in Michigan and one in Alabama, as rejournal.com informs
Manufactured Housing Community Portfolio Moves through Matrix Realty Read More
With more than 30 years of experience as a housing scholar and expert in the field of mortgage finance and housing policy, Kent Colton, president of The Colton Housing Group & Senior Scholar at the Joint Center for Housing Studies at Harvard University, will present “Framing the Future of Housing
Housing Finance Expert will speak at Penn State Read More
Unlike many school districts in the U. S. that are strapped for funding, schools in North Dakota have been receiving oil impact grants, and show ending-fund balances for 2012-2013 of $278.7 million statewide, according to bismarcktribune.com. Rep. Mike Nathe, R-Bismarck, says the oil impact money could be put to better
Modular Homes Accommodate new Teachers in Housing-strapped N. Dakota Read More
While mortgage lending in rural areas expanded last year as did as did overall lending, rural applicants are more likely to be denied and to pay higher interest rates than urban borrowers. While 21 percent of rural applicants were denied a loan last year–some 500,000– the overall rate for the
Rural Mortgage Borrowers Hit Harder than Urban Brethren Read More
According to nationalmortgagenews, the National Association of Realtors pending sales index (PSI) dropped more than expected in September, minus six percent, following a two percent drop in August, 2013. The PSI tracks sales contract signings, and is now 1.2 percent below the level of signings last Sept. NAR Chief Economist
Pending Home Sales Fall in Oct. Read More
With half of the companies in the S&P 500 having reported third quarter financials and 75 percent of them are better than expected, according to what FactSet tells CNNMoney, the S&P gained +2.34 points, +0.13 percent, to set another record high at 1,762.11. Meanwhile, the rally from last week stalled
Patrick Spikes, while most Tracked Stocks are Quiet, many Slipping Read More
The crumbling Packard Motor Plant in Detroit, built in 1905 but closed in 1956, had tenants until the late 1990s and is now set to become a facility to build modular homes and offices. A family doctor from Texas, along with several investors, won the bid at $6 million for
Old Auto Plant to Become Modular Home Factory Read More
Mark Wilson of non-profit affordable housing developer Community Frameworks in Spokane, Washington, noting that multi-generational living is coming back, is seeking a family to purchase an elder cottage as a model for the organization. He says, “An elder cottage is a small, energy-efficient, self-contained home designed to be placed adjacent
Multigenerational Living Returning? Read More
A Superior Court judge’s ruling that rent controls established in 1984 for the Tricia Meadows land lease community of Mount Laurel, New Jersey will expire Dec. 31 has led to a lawsuit opposing the action. The mostly senior low and moderate-income residents believed their $224.50 monthly rent would continue because
Rent Control Set to Expire Dec. 31 Read More
While the number of jobs in Stamford, Connecticut has declined the past three years, enrollment in the schools, especially in the elementary and middle schools, has increased and is expected to increase in the near future, according to stamfordadvocate.com. Last year the school district hired 20 new teachers to keep
School District may add Modular Classrooms Read More
According to marketwatch.com, Cavco Industries, Inc. (CVCO) will release its financials for the second quarter of fiscal 2014 on Thurs., October 31 after the close of the market. Senior management will discuss the results in a webcast the following day, Fri., Nov. 1 at 12:00 noon EST. Interested parties may
Cavco to Release Financials for Q2 2014 Read More
Federal Housing Finance Agency (FHFA) Director Edward DeMarco says he plans to reduce the government service enterprise (GSEs) loan limits which will increase private sector participation in the mortgage market, according to nationalmortgagenews. He also intends to gradually increase the guarantee fees that Fannie Mae and Freddie Mac charge lenders.
DeMarco will Increase Private Sector Participation Read More
Corporate returns among several high tech stocks pushed the S&P to an all new high, and the Dow and Nasdaq ended the week gaining about one percent each. CNNMoney reports the Dow Jones Industrial Average advanced +61.07 points, +0.39 percent, to end the day at 15,570.28. The Nasdaq gained +0.37
Three Major Indexes Gain; Tracked Housing Stocks Move Little Read More
Representative Shelley Moore Capito (R-WV), who serves as Chairman of the House Financial Services Subcommittee on Financial Institutions and Consumer Credit, is garnering support to encourage Consumer Financial Protection Bureau (CFPB) Director Richard Cordray to postpone implementation of the new mortgage rules set to take effect in Jan. 2014, until
Legislator asks to Delay New Mortgage Rules Read More
U. S. consumer sentiment dropped to its lowest level in nearly a year, likely fueled by the government shutdown and one-time up-in-the-air debt limit dispute, according to a Thomson Reuters/University of Michigan survey. Falling from 77.5 in September to 73.2 in October, as RVBusiness informs MHProNews, the figure was lower
Political Paralysis Dings Consumer Sentiment Read More
