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.
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 […]
State Farm Funds Student-built Modular Home Read More
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,
Modular Dormitory will House NY Students Read More
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
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
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
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.
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
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
Cordray: QM Rule Should not Always Apply Read More
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
In some Markets Appraisals Equal Selling Price Read More
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
Obstacles may Face First-time Homebuyers Read More
France is in recession, industrial production fell in April, and the Empire State manufacturing survey fell into negative territory, but the Dow and the S&P surged to new highs, and the Nasdaq was at its highest level since 2000. CNNMoney reports the Dow Jones Industrial Average advanced +0.40 percent, +60.44
Dow, S&P Hit new Highs Despite Tepid Economic News; Skyline Drops Read More
MHProNews has learned from HousingWire mortgage applications dropped 7.3 percent from the previous week, according to the Mortgage Bankers Association (MBA), and the refinance index fell eight percent from the previous week. Although the seasonally adjusted purchase index dropped four percent from the prior week, it was ten percent above
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) composite reports builder confidence rose from 41 in April to 44 in May, as all three indexes that make up the composite gained. The HMI is based on builders’ perceptions of current sales, sales expectations, and traffic of
Builder Confidence Regains Three Points Read More
MHProNews has learned from nasdaq that Zacks Investment Research has issued a strong buy on Universal Forest Products, Inc. (UFPI) stock–“Rank#1” in their rating system–due to its strong performance in Q1 2013. A component supplier to the manufactured housing industry, net income for UFPI grew 25.7 percent year-over-year and earnings
Board Feet Sales Rise for UFPI Read More
According to what the benningtonbanner tells MHProNews, a complaint filed April 30 against John M. Bushee, Jr., owner of Sunset Farm Mobile Home Park of Bennington, Ver. may lead to foreclosure of the community. Sunset Farm has issues with providing clean water to its residents going back to Dec. 2007,
Vermont Community Owner Facing Default Read More
Tribune242 reports from the Bahamas the VTrade Company, now operating its light manufacturing business out of an 86,000 foot warehouse, is considering making modular homes or electric cars and expanding into an available 240,000 square foot facility in Freeport. The firm currently makes energy efficient light bulbs, distributes hardware products
Bahamas Firm may Produce Modular Homes Read More
The National Association of Home Builders reports 73.7 percent of the new and existing homes sold in the first quarter of 2013 were affordable to families earning the annual median income of $64,400, down slightly from 74.9 percent in Q4 2012. The data for the NAHB/Wells Fargo Housing Opportunity Index
Housing Affordability Remains Strong Read More
Positive sentiment about the progress of the economy plus good financial news from some of the top banks pushed the Dow and the S&P to all new record highs today. CNNMoney reports the Dow Jones Industrial Average advanced +0.82 percent, +123.57 points, to close at 15,215.25. The Nasdaq gained +0.69
No Tracked Housing Stocks Fall as Dow and S&P Set Records Read More
Caitlin Nauert of the Texas Manufactured Housing Association (TMHA) tells MHProNews the TMHA board members raised $16,000 towards a fundraiser it is co-hosting with the Manufactured Housing Institute (MHI) for Rep. Jeb Hensarling (R-TX). As Chairman of the powerful House Financial Services Committee, Rep. Hensarling oversees the mortgage industry, and
Fundraiser for Rep. Hensarling Slated Read More
The ABQJournal tells MHProNews that the Farmington, New Mexico metropolitan statistical area (MSA) has the highest percentage of manufactured housing as part if its inventory of any metro area in the U. S., at 32 percent. Two-thirds of the county’s 128,529 residents live outside the city in rural areas, including
Remote Southwest Draws Manufactured Housing Read More
