Manufactured and Modular Housing News

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.

Charleston Slowly Building Modular Homes

As the postandcourier informs MHProNews, modular homes have been slow to catch on in the Charleston, South Carolina area, although there are pockets in the city that have them, most notably north Charleston-based, Hunley Waters, which is all modular homes. Supplied by Nationwide Homes in Martinsville, Vir., the dwellings are […]

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Credit Unions to Reduce Lending

The nationalmortgagenews reports in a survey of credit unions responding to the QM Rule issued by the Consumer Financial Protection Bureau (CFPB), 44 percent say they will no longer originate non-qualified mortgages and another 44 percent will reduce originations. In the survey conducted by the National Association of Federal Credit

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Community Closed for Waterfront Development

The tri-cityherald informs MHProNews the Clover Leaf land lease community in Kennewick, Wash. was sold in February, 2013 to BW Land which is developing the 22 acres into a waterfront of shops, condos, and hotels. BW sent out eviction notices to residents, giving them 30 days to move, but retracted

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Dealer Switches to Refurbished Homes

The postandcourier reports from Ladson, South Carolina, Equity Homes salesman Allen Croft recalls in 1997 the company sold 986 new homes, but changed its business model as sales declined and now sells only refurbished homes. Although the majority of the firm’s homes come from auctions, 37 percent are from individual

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Sun Secures Line of Credit

According to what 4-traders tells MHProNews, Sun Communities, Inc. has secured a $350 million revolving line of credit with the option for an additional $250 million. The secured loan has a four-year term but can be extended for an additional year. Interest on the loan is floating, and can range

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Modular Homes Allowed, but Need Better Definition

According to gobogalusa, the Franklinton (Louisiana) Board of Aldermen heard the results of the meeting of the Planning and Zoning Commission regarding the regulation of modular homes. Building inspector Bob Walters said they are built similarly to manufactured homes but are governed by the International Residential Code (IRC). Walters stated

Modular Homes Allowed, but Need Better Definition Read More

Stocks Continue to Advance; Tracked Housing Stocks all Rise Save one

The rise in consumer sentiment led to a fourth week of gains in the stock market, as the Dow and S&P set new records. CNNMoney reports the Dow Jones Industrial Average gained +0.80 percent, +121.28 points, to close the week at 15,354.50. The Nasdaq advanced +0.97 percent, +33.73 points, to

Stocks Continue to Advance; Tracked Housing Stocks all Rise Save one Read More

Zell says the Stock Market will Tumble

Sam Zell, Chairman of Equity LifeStyle Properties, Inc. (ELS) tells Fortune magazine the stock market is riding high but the underlying fundamentals are weak and the market will fall. “The current euphoria in the stock market will be adjusted, and I hope that’s all that happens,” he says. Noting that

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Contemporary Modular Home to Grace Show

For the first time in its 25-year history, the Montreal International Design Show will feature an entire modular home, a red cedar-clad home with contemporary lines, one of five models in the Pur series offered by Bonneville Homes of Quebec, Canada. The montrealgazette informs MHProNews the Pur-Z has two bedrooms

Contemporary Modular Home to Grace Show Read More

April: Housing Starts Drop; Housing Permits Rise

The National Association of Home Builders (NAHB) reports while housing starts fell 16.5 percent to a seasonably-adjusted annual rate (SAAR) of 853,000 in April, housing permit issuance rose 14.3 percent to a SAAR of 1.02 million units, the highest rate since June of 2008. Based on data from HUD and

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State Farm Funds Student-built Modular Home

The dailyranger informs MHProNews the State Farm Foundation donated $5,000 to Habitat for Humanity to help fund Riverton (WY) High School students build a modular house for a Habitat family. State Farm agent Mike Yowell says, “We are proud to present this award to Habitat with the ultimate goal of

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Modular Dormitory will House NY Students

According to thedailyorange, SUNY-ESF (State University of New York-College of Environmental Science and Forestry) at Syracuse, NY will add a 34,000 square foot modular dormitory to accommodate 84 students to be ready for the fall semester 2014. Also a modular project, Centennial Hall opened in 2011 to house 452 students,

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Housing Stocks we Cover Mostly fell, as did the Three Major indexes

Stocks slid today as investors ignored overall good economic data and stayed off the dance floor as all three major indexes lost a little ground. CNNMoney reports the Dow Jones Industrial Average fell -0.28 percent, -42.47 points, to close at 15,233.22. The Nasdaq lost -0.18 percent, -6.38 points, to finish

Housing Stocks we Cover Mostly fell, as did the Three Major indexes Read More

Tribal Nation Makes Loans on HUD Code and Mod

PRWeb informs MHProNews that through the Department of Housing and Urban Development (HUD) Oklahoma City’s Bank2 is partnering with First Interstate Bank of Montana, Wyoming and South Dakota to provide affordable housing loans to Native Americans. Offering competitive interest rates and a low down payment, Section 184 Indian Home Loan

Tribal Nation Makes Loans on HUD Code and Mod Read More

Students Build Modular Homes

Cleveland informs MHProNews one feature of this year’s Mayfield (Ohio) City Schools’ Excel TECC open house May 17 will be modular homes built by high school students from several disciplines—landscaping, the trades, computer-aided design and architecture. Using an old auto repair shop, one of the modular homes is two-story with

Students Build Modular Homes Read More

UMH Moved to Buy

According to utahpeoplespost, real estate investment trust (REIT) UMH Properties, Inc. was upgraded by analysts at TheStreet from a hold to a buy position, as reported by AnalystRatingsNetwork. The company has strong growth in revenue and net income, good return on equity and earnings per share, and reasonable valuation levels.

UMH Moved to Buy Read More

Foreclosure Activity Down, but the Shadow May Linger

MHProNews has learned from nationalmortgagenews that while the number of foreclosures is down, there are still many REO houses that have not seen the light of day in several years. CoreLogic reports foreclosure activity was down in March from the previous March 2012 by 17 percent, but April numbers show

Foreclosure Activity Down, but the Shadow May Linger Read More

Cordray: QM Rule Should not Always Apply

Responding to what are perceived as carved-in-stone strictures, Consumer Financial Protection Bureau (CFPB) director Richard Cordray says regardless of the agency’s QM Rule with its highly-defined rules, lenders should feel safe originating loans that have exhibited strong performance over time, as nationalmortgagenews tells MHProNews. Noting community banks and credit unions

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In some Markets Appraisals Equal Selling Price

CNNMoney reports as home prices increase and inventories shrink, appraisers are valuing homes at or above their values, according to chief economist Lawrence Yun of the National Association of Realtors. A Seattle-based real estate agent says none of the appraisals for the homes he has sold this year have come

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Obstacles may Face First-time Homebuyers

HousingWire informs MHProNews first-time homebuyers are facing different circumstances than their parents’ generation. Whereas their parents were saving for a down payment on their first home, Generation Y is burdened with an average $27,000 in college loans which may take ten years to pay off. Housing research site Doorsteps has

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