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.
HousingWire informs MHProNews Chairman of the House Financial Services Committee, Rep. Randy Neugebauer, (R-TX), during a committee hearing on the private mortgage insurance market, noted that the Federal Housing Administration (FHA) continues to risk taxpayer dollars. In regard to FHA and its Mutual Mortgage Insurance Fund, he says, “FHA does […]
Financial Services Committee Chair: Rein in FHA Read More
NationalMortgageNews reports with the mortgage industry complaining that the qualified mortgage (QM) rule issued by the Consumer Financial Protection Bureau (CFPB) will hinder hundreds of thousands of potential borrowers from obtaining a QM loan, HR Bill 1077 clears up the three percent cap on points and fees in the QM
Measure to Clarify 3% Cap Read More
The unexpected drop in first-time jobless claims combined with recent reports of a falling unemployment rate kept the Dow going as it experienced ten consecutive days of gains, the best run up since 1996. CNNMoney reports the Dow Jones Industrial Average added +0.58 percent, +83.86 points, to close at 14,539.14.
Most Housing Stocks Advance as Dow Extends Run Read More
According to nationmultimedia from Thailand, Thai conglomerate SCG (Siam Cement Group) and Japan’s Sekisui have entered a partnership to build modular homes at Hemaraj Industrial Estate in Saraburi , and will target the middle-range market in Thailand. Production will begin this month at the new facility which has the capacity
Thailand, Japan Partner to Build Modular Homes Read More
Kiplinger informs MHProNews a Virginia couple wanted to build a home in a mountainous area but could not get county approval for nearly two years because of the steep slopes, succeeded in having a 2,200 square foot custom modular home installed. Built by Jakobsen and Rowe of Purcellville, Vir., the
Modular Builds in Mountains Read More
The Memphis-Shelby County Office of Planning and Development (OPD) has recommended approval of the former Memphis Mobile City that flooded in 2010 and 2011 becoming an RV resort with over 100 sites, as memphisdailynews tells MHProNews. The adjoining 33 acres not in a floodplain would be a 101-site manufactured home
Site Approved for MHC Development Read More
Spurred on by better-than-expected Feb. retail sales, the Dow closed at an all-time high for the seventh straight day; the S&P is less than one percent below its best reading which it reached in 2007. CNNMoney reports the Dow Jones Industrial Average added +0.04 percent, +5.22 points, to close at
Dow Sets another Record; AMG Finds Traction Read More
According to originationnews, home loan applications followed by the Mortgage Bankers Association (MBA) fell 4.7 percent on a seasonally-adjusted basis, fed by a boost in employment figures that led to the 30-year fixed mortgage rate (FRM) reaching its highest level since August, 2012. The average for conforming 30-year FRMs rose
Loan Apps fall as Rates Rise Read More
According to the kilgorenewsherald, the city council in the northeast Texas town of New London granted permission to a new resident to install a manufactured home on a half-acre of land. The owner agreed to follow city ordinances regarding porches and skirting. Also, the owner of a multi-section manufactured home
City Water Available to Manufactured Homes Read More
Updating a story MHProNews posted Feb. 4, 2013 regarding the need for new housing for migrant workers, the salemnews reports from Peabody, Mass. Mayor Ted Bettencourt is asking the city council to quickly approve $180,000 to construct a new modular housing facility for the Jamaican employees who tend and harvest
New Modular Housing for Migrants Read More
MarketWire says The Freedonia Group, Inc. of Cleveland, Ohio in a new study projects that manufactured housing production will rise 13.6 percent annually to 90,000 units by 2017 as part of the overall production of 140,000 pre-fabricated homes. Similar to a report MHProNews posted Feb. 28, 2013, Freedonia states factory-built
Study Predicts MH Market Share to Drop Read More
GTWeekly informs MHProNews residents and former residents of De Anza Mobile Home Park in Santa Cruz, Calif. gathered recently to discuss the community’s loss of rent control in 2003 after a four-year federal battle between the city and what is now Equity LifeStyle Properties (ELS). The judge ruled rent control
MHC Residents Gather over Rent Control Issue Read More
MarketWatch reports Sun Communities, Inc. intends to offer 4,500,000 shares of its common stock in a underwritten registered public offering. Proceeds will be used to repay debt, fund acquisitions, and for general corporate purposes. As underwriters, Bank of America Merrill Lynch, Citigroup, and BMO Capital Markets will have a 30-day
HousingWire informs MHProNews, as the inventory of available homes continues to drop—Capital Economics says there are only 2.7 million units on the market, the sixth lowest in 30 years– homebuilders are patiently waiting for renters to transition into buyers. According to a survey by Opinion Research Corp. on behalf of
Half of Renters Want to Buy Read More
HousingWire reports during a Senate Banking Committee hearing concerning the nomination of Richard Cordray to head the Consumer Financial Protection Bureau (CFPB) for a second term, some committee members put Cordray on the hot seat. They grilled him about his operation of the agency and what would happen to the
Cordray Nomination on the Line Read More
Although all three indexes are up seven to ten percent for the year, the U. S. stock market took a breather today after choppy trading on the big board. Some analysts speculate a pullback may be in the works, and that it would be a healthy thing for the market.
Investors Step Back; Most Housing Stocks We Cover Drop Read More
While MHProNews reported Jan. 21, 2013 that Seattle-based modular builder Greenfab would have two modular homes at Las Vegas’ National Association of Home Builders (NAHB) International Builders Show (IBS), JetsonGreen has provided pictures of the homes. Each was comprised of five modules, and required five hours to finish the initial
PRNewswire reports from Freehold, NJ, MHC owner operator UMH Properties, Inc. announces its financials for 2012 and the Q4 2012. Its Core Fund from Operations (FFO) grew from $9,218,000 for the year ending Dec. 31, 2011 to $10,010,000 year-over-year 2012. Total income increased from $39,313,000 in 2011 to 46,828,000 in
UMH Issues Financials for 2012 Read More
ConstructionWeekOnline reports from Saudi Arabia that Red Sea Housing Services Company, LTD has signed a (SAR120m) $31.9 million credit facility agreement with Al-Rajhi Bank, (SAR50m) $13.3 million of which is for the financing of special projects, and (SAR70m) $18.6 million to acquire building materials. The agreement will expire in one
Red Sea Housing Obtains Financing Read More
In their monthly report, the Manufactured Housing Institute (MHI) informs MHProNews the 4,190 MH shipped in Jan. is a 6.2 percent increase in production of manufactured homes in Jan. 2013 over Jan. 2012, representing a rise in both single-section as well as multi-section homes. Total floors shipped in Jan. 2013
Number of MH Plants and Corporations Remains the Same Read More
