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.
Stocks edged down today as investors anxiously awaited corporate returns for the previous quarter. CNNMoney reports the Dow Jones Industrial Average nudged down -0.41 percent, -55.44 points, to end the day at 13,328.85. The Nasdaq dropped -0.23 percent, -7.00 points, to close at 3,091. 81, while the S&P lost -0.32 […]
Three Indexes, Housing Composite Slip; LPX Posts Nice Gain Read More
The National Association of Home Builders (NAHB) says its First American Improving Markets Index (IMI) rose from 201 in Dec. to 242 this month, an increase of over 20 percent. Now including 48 states and the District of Columbia, before being added to the list the metro area must show
NAHB Housing Index is Moving on Up Read More
Tallahassee tells MHProNews two University of South Florida architect students have designed an extruded aluminum disaster shelter that snaps together and is easily transportable. The main structural members can have conduit running through them, and the roof channels direct water to a tank at the rear of the modular unit.
Students Build Disaster Shelter Read More
AmmoLand reports from Fremont, Ohio that MH building products maker StyleCrest is teaming with Mossy Oak to produce Wildside Camo Siding for hunting blinds, lodges, cabins and sheds. The extrusion-process camouflage siding will resist UV rays and extreme weather conditions, and is easy to install. As MHProNews has learned, StyleCrest
Manufactured Housing Goes Hunting Read More
The belvideredailyrepublican says Poplar Grove, Ill. officials have nixed plans to annex an additional 600 acres and with it the possibility of an MHC being developed on part of the property. Two developers had proposed a mix of residential and commercial if the annexation occurred, but the village board in
Village turns down Possible MHC Development Read More
NationalMortgageNews says the Consumer Financial Protection Bureau is set to release Dodd-Frank’s Qualified Mortgage (QM) regulation Jan. 10 in Baltimore. Under the new regulation, lenders must verify assets of the consumers, and in exchange, lenders will have a legal safe harbor. A rule the CFPB has considered is in cases
Coming Soon: QM and Servicing Rules Read More
OriginationNews reports the person who helped plan staffing, enforcement and direction of the Consumer Financial Protection Bureau (CFPB) is now the regional director of the West Region office of the agency in San Francisco, covering 18 western states including Alaska, Hawaii and Guam. Edwin L. Chow is responsible for consumer
CFPB Region Director Could be Watching You Read More
Economist Joseph Brusuelas, writing in a Bloomberg Brief on the 2012 housing review and outlook for 2013, says, “Rising purchases of homes from cash buyers and investors reduced the monthly supply of existing homes on the market to 4.8 months in November from 6.4 months in January of 2012. Careful
Inventory Drop will Add to Housing Values Read More
Noting companies will struggle to beat earnings expectations for the last quarter of 2012, Barclay’s said in a report, “We suspect earnings season will be a negative for the market overall.” As investors prepare for the corporate returns, CNNMoney reports the Dow Jones Industrial Average nudged down -0.38 percent, -50.92
Major Indexes Slip; Deer Valley, Nobility Homes Slide Read More
Rick L. Wilson, forty-year veteran of the manufactured housing industry, passed away Friday, January 4, at Central Baptist Hospital in Lexington, Kentucky. A production manager with Fleming Homes in Fleminsburg, Kent., the last several years he was a manufactured home retailer, according to maysvilleonline. A kentucky Colonel, Wilson, 62, also
Passages—Rick Wilson Read More
The StandardExaminer reports from Farr West, Utah the Westwood Village Homeowners Association will meet Tue., Jan. 8 to discuss cracked and uneven sidewalks that pose a risk to the 400 seniors who live in the 350 homes at the MHC. After attempts to get a response from owner Equity LifeStyle
MHC Residents: Busted Walkways are Dangerous Read More
BillingsGazette reports nine workers at the newly-opened System Building Solutions (SBS) in Laurel, Mont. are getting on-the-job training building a two-story 20-room modular man camp for the Bakken oil field build-out in western North Dakota. Utilizing resources in the Billings area, SBS is working out of a building previously occupied
Another MOD Player in the Bakken Oil Field Read More
IndyStar reports two-thirds of nearly 50 Indiana public companies traded on large exchanges finished last year with higher stock prices than at the beginning of the year. Included is Elkhart-based Patrick Industries (PATK) whose stock price more than tripled, going from $4.30 to $15.56 a share. Julie Ann Kotowski, director
Patrick’s Stock Nearly Triples in 2012 Read More
The Manufactured Housing Institute (MHI) informs MHProNews that on Dec. 17th MHI staff and members of the manufactured housing industry met with Consumer Financial Protection Bureau (CFPB) Director Richard Cordray and staff members to push for housing finance rules that take into account the special challenges of the MH market.
MHI Meets with CFPB Director Cordray Read More
In the best week since Dec. 2011, the S&P 500 finished at its highest level in five years, while the Dow Jones Industrial Average moved up 3.8 percent and the Nasdaq gained 4.8 percent. The market was assisted by the report that the economy added 150,000 jobs in Dec., about
Housing Composite, Deer Valley Make Big Gains Read More
According to BloombergBusinessWeek‘s survey of 15 economists and housing analysts, existing home sales will increase 7.2 percent in 2013 to 4.98 million, the most since 2007. Prices will move up 3.3 percent this year, a slight retreat from the 4.5 percent rise in 2012. The loss of inventory in 2012
Survey Predicts Good News for 2013 Housing Read More
MHProNews has learned that the 2013 Louisville Show will include a free finance panel discussion that will feature all of the industry’s major lenders, showcasing their latest Dodd-Frank compliant lending programs. The focus of the panel presentation will be for each lender to highlight their top or new lending opportunities
MH Lending Opportunities and Regulatory Update Read More
According to official statistics from the Dept. of Housing and Urban Development (HUD), the Manufactured Housing Association for Regulatory Reform (MHARR) says production of manufactured housing fell 18 percent from Nov. 2011 to Nov. 2012, 5,332 homes down to 4,365 units. While cumulative production is still up seven percent over
MH Production Falls Again Read More
As originationnews reports, the Mortgage Bankers Association (MBA) says refinancings the last two weeks ending Dec. 28 were at their lowest point since April, as refis dropped 21.6 percent on a seasonally-adjusted basis. The average contract interest rate for a 30-year fixed rate mortgage (FRM) increased one basis point to
Refis Fall, Interest Rate Remains Low Read More
Marcus & Millichap Real Estate Investment Services reports the company has sold Forest Green Mobile Home Park in Hudson, Fla., an all age land lease community just north of Tampa-St. Petersburg, Fla. Originally developed in 1984, Forest Green has 49 single-section and 32 double-section homes, a community pool, recreation area
81 Site MHC Changes Hands in Florida Read More
