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 American Banker informs MHProNews the Federal Housing Administration (FHA) is issuing its own QM rule because the Consumer Financial Protection Bureau (CFPB)’s may conflict with the FHA’s Single-Family Program. HUD spokesman Brian Sullivan states FHA has the authority under Dodd-Frank to create its own ability-to-repay rule, and will be […]
FHA Prepares Own QM Ticket Read More
As washingtonpost informs MHProNews, while Fannie Mae and Freddie Mac have been vilified for allegedly causing the financial meltdown, for being bailed out by the government to the tune of $131 billion, and for taking business from private firms, neither the Democrats nor the Republicans are actively doing much to
Overhaul Fannie and Freddie? Why? Read More
MyDesert reports from Palm Springs, Calif. the Desert Living Home Show is anticipating record crowds as the economy improves and home values rise, which will hopefully have homeowners thinking about home improvement. The event is expected to attract 5,000 attendees who will be eyeing barbecue islands, kitchen appliances, and cabinetry,
Modular Dwelling will be Featured at Home Show Read More
The lower-than-expected first-time unemployment claims and (anticipated) better-than-expected job growth for Feb. pushed the Dow to another new record today, as all three indexes advanced. CNNMoney reports the Dow Jones Industrial Average moved up +0.23 percent, +33.25 points, to close at another record high of 14,329.49. The Nasdaq gained +0.30
Dow Climbs Higher; Tracked Housing Stocks Fairly Static Read More
MarketWatch tells MHProNews NeighborWorks America, a non-profit which bills itself as the foremost trainer of affordable housing professionals, says research shows that homebuyers who receive pre-purchase counseling from them are almost one-third less apt to get behind in their mortgage 90 days or more within the first two years of
Pre-purchase Counseling Leads to Fewer Foreclosures Read More
Updating a story MHProNews posted Jan. 14, 2013 about residents of Killam Properties, Inc.’s Mountain View Estates MHC at Lake Echo, Nova Scotia, Canada having to boil their water (or buy it bottled) for 14 months, it is now safe to drink for the 300 families who live there. One
Water is Clear, Legalities could get Muddy Read More
CNNMoney says ADP reports the private sector added 198,000 jobs in Feb., much more than the 150,000 economists were expecting, but well short of the 300,000 needed to fully stimulate the economy. Small businesses with under 50 employees added 77,000 workers, medium-sized businesses added 65,000, and large businesses with 500
Jobs Market Improving Modestly but Steadily Read More
HousingWire informs MHProNews the Federal Reserve’s February Beige Book of growth in economic activity indicates the real estate market in almost all the districts recorded strong improvement as inventories shrank and home prices rose. While in Philadelphia low-end prices were firm or rising and the prices of high-end homes were
The Fed Says Housing Market Slowly Rising Read More
According to Anthony Randazzo, director of economic research at Reason Foundation, the federal government’s continued belief that everyone should own a home is what created the housing bubble in the first place, and it could happen again. Writing in the Orange County Register, he says with Fannie Mae and Freddie
Eliminating GSEs could Still Leave Taxpayers Exposed to Risk Read More
Investors rejoiced that economists predict 175,000 jobs will have been added in Feb., further driving the Dow to another new record today. While some analysts suggest there may be a pullback, “There’s more and more confidence that the economy is on firmer footing,” according to Bill Stone of PNC Wealth
Dow Pushes Higher; Cavco Gains Four Percent Plus Read More
According to nationalmortgagenews, the Senate Banking Committee will hold a hearing next week on the appointment of Richard Cordray to head the Consumer Financial Protection Bureau (CFPB). Forty-three of the Senate’s 45 Republicans oppose the nomination because they want to change the structure of the agency to a multiperson board.
Republicans may Filibuster Cordray’s Appointment Read More
The National Association of Home Builders (NAHB) reports the Census Bureau’s biennial survey “Characteristics of Home Buyers” which covers 6.8 million home sales in 2009 and 2010, reveals price and proximity to work were the overriding concerns for first time home buyers. “The majority of trade-up buyers (36%),” says NAHB’s
Survey Characterizes Concerns of Home Buyers Read More
The columbiamissourian tells MHProNews the High Hill Circle Mobile Home Park in Columbia, MO will expand by 16 homesites if the Doris Overton Trust, the owner of the MHC, has its way. The proposal would rezone the 26.4 acres from moderate density residential to residential manufactured home. The major infrastructure
Zoning Change will Allow more MH Read More
JetsonGreen informs MHProNews the mathematician who figured out how to turn a perfect square into an equilateral triangle led to the creation of D*Haus Company, which makes modular homes in four different versions from a kit. Each version can be configured in eight or more different ways, to take advantage
SmartCompanyAu reports from down under modular builder Mornington Park Homes has been placed in receivership after 32 years in business, and corporate advisory firm McGrathNicol is seeking buyers for the assets of what was once Tasmania’s leading producer of modular homes, having produced nearly 32,000 homes. Despite reports that the
MOD Builder goes under Down Under Read More
NewswireCanada says Killam Properties, Inc. reports funds from operations (FFO) in Q4 2012 rose 15.7 percent over the same period for 2011, and overall net operating income (NOI) increased 1.4 percent year-over-year. For 2012, FFO increased 13.7 percent 2012 over 2011, and overall net operating income rose 5.4 percent 2012
Killam Reports Financials for 2012 Read More
KnoxNews informs MHProNews Warren Buffett, chairman of Berkshire Hathaway, which is the parent company to Clayton Homes, says the company produced 25,872 homes in 2012, an increase of 13.5 percent over 2011. “That output accounted for about 4.8 percent of all single-family residences built in the country, a share that
Clayton’s 2012 Earnings Rise $100 Million Read More
The Dow hit a new high today at 14,286.37, topping the intraday and closing records set in 2007.CNNMoney reports the Dow Jones Industrial Average moved up, gaining +0.80 percent, +113.28 points, to close at a record high of 14,241.10, having gained nine percent since the beginning of the year. The
Dow Hits New Record High; Tracked Housing Stocks Mostly Gain Read More
The charltoncountyherald reports from Folkston, GA in the southeastern corner of the state that Lifestyle Cabinetry, a division of Universal Forest Products, Inc. (UFPI), will be opening soon in the Okefenokee Industrial Park. Once a truss plant, Lifestyle will initially hire a dozen workers, and intends to hire up to
Universal opens Cabinet Shop Read More
According to the superiortelegram, the tiny town of Maple, Wis. (pop. 749) will see its revered old schoolhouse revived as a modular home manufacturing plant that will employ up to 30 people. The only other large employer in this far northwestern corner of the state is the school system, which
MOD Prod. Moves into School Read More
