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.
Noting that fires move more quickly in small spaces, Tennessee State Fire Marshal and Commerce and Insurance Commissioner Julie Mix McPeak is urging the 250,000 residents of manufactured housing in the state to install smoke alarms and plan an escape route in case of a fire. The news release through […]
A Cautionary Note to Residents of MH in Tenn. Read More
Following a story we reported Aug. 31, 2012 concerning an MHC in Canada where residents have had to boil water before using it, MHProNews has learned from CBCNews one of the residents has successfully sued owner Killam Properties. The 300 families at Mountain View Trailer Park in Echo Lake, Nova
New Wells Should Solve Water Woes Read More
Although the indexes finished up for the second week in a row, the stock market was relatively quiet today as investors mulled over corporate earnings reports, as well as anticipation of corporate earnings reports. CNNMoney reports the Dow Jones Industrial Average nudged up +0.13 percent, +17.21 points, to end the
Stocks Relatively Unchanged; Drew and Skyline Advance Read More
The House Financial Services Committee tells MHProNews that Committee Chairman Jeb Snarling, in his response to the Consumer Financial Protection Bureau (CFPB)’s Qualified Mortgage and Ability to Pay rules, says the CFPB has an impossible, dangerous mission and that attempted solutions may have unintended consequences. He asserts, “ Impossible because
Committee Chair Spears CFPB Read More
MHProNews has learned the U.S. Census Bureau and the Dept. of Housing and Urban Development (HUD) have for the first time made public their findings on the quality of housing in the U.S., available on the Census Bureau’s American FactFinder. The survey of the nation’s 115 million households includes apartments,
Government Releases Housing Data for First Time Read More
An industry insider has provided MHProNews with an exclusive of their flash report on the QM rules issued by CFPB yesterday. There was an 804 page Ability to Repay (“QM”) Rule issued on 1.10.2013 by the Consumer Financial Protection Bureau (CFPB), along with the 431 page High-Cost Mortgage (HOEPA –
MH Industry Insider Perspective: Flash Report on QMs…Not good! Read More
The sltrib tells MHProNews Steve Anderson and his wife, residents of Cottonwood Coves MHC in Murray, Utah just outside Salt Lake City allege the owner, Terry Robison, unilaterally changed the terms of the contract they signed in 2004 without their signature. Initially, sewer and water fees were included in the
Couple Sue MHC Owner Read More
The 2013 Louisville Show reports that through Jan. 9, there have been 34,514 page views and a total of 172,296 hits at LouisvilleManufacturedHousingShow.com. Pre-registrations are up over 2012. At the current pace, the Louisville Show could top 1,200 retailers, communities and other attendees, with the combination of attendees and exhibitors
Louisville Website Hits! Read More
Although investors continue their angst about corporate returns for Q4 2012, the three major indexes ended the day in positive territory, with the S&P hitting a new five-year high. CNNMoney reports the Dow Jones Industrial Average nudged up +0.57 percent, + 76.29 points, to end the day at 13,466.80. The
Stocks Gain Second Consecutive Day; S&P Hits New High Read More
A letter dated Jan. 9, 2013, from Henry Czauski, HUD’s Acting Deputy Administrator in the Dept. of Manufactured Housing, to Robert Solomon, Project Mgr. of the Manufactured Housing Consensus Committee (MHCC), says the Government Accounting Office (GAO) finished a study of air quality and ventilation systems in manufactured housing. The
HUD Seeking Input from MHCC Read More
The long-anticipated set of mortgage rules, including the qualified mortgage, promised by the Consumer Financial Protection Bureau (CFPB) have finally been released, according to CNNMoney. Designed to correct the lax underwriting practices that led to the housing bubble fiasco, the new rules require documented financial feasibility of repaying the loan
CFPB Issues New Mortgage Rules Read More
As GlobeNewswire reports, in order to take advantage of the improving economy and growth of the new home construction market, BlueLinx Holdings Inc. (NYSE:BXC) of Atlanta has filed a planned rights offering with the Securities and Exchange Commission (SEC) to offer $40 million worth of common stock, $38.8 million of
BlueLinx Raising Money Read More
HousingWire reports Sen. Sherrod Brown’s (D-OH) letter to Consumer Financial Protection Bureau’s (CFPB) Director Richard Cordray asserts manufactured homes may become less attainable under the newly defined CFPB’s regulations that deal with high-cost mortgages. For mortgages on properties under $50,000, a high-cost mortgage is now defined as a first mortgage
Senator Brown to CFPB: Relax High Cost Mortgage Rules Read More
According to originationnews, the Mortgage Bankers Association (MBA) says despite the interest rate for a 30-year fixed-rate mortgage (FRM) with conforming loan balances having increased nine basis points to 3.61%, mortgage apps rose 11.7 percent for the week ending Jan. 4. This interest rate is the highest in two months.
Interest is Up, so are Apps Read More
According to the National Association of Realtors (NAR), the first 11 months of 2012 is setting the stage for what is anticipated to be a record year for the housing market, once Dec. numbers are in. HousingWire says NAR’s Housing Affordability Index through Nov. 2012 stood at 198.2, and expects
Home Affordability Index to Set Record Read More
Investors were heartened by analysts expecting corporate earnings to grow 3.2 percent in Q4 2012 versus last year, as the three major indexes posted positive results for the day. CNNMoney reports the Dow Jones Industrial Average nudged up +0.46 percent, + 61.66 points, to end the day at 13,390.51. The
Three Major Indexes Gain; Tracked Housing Stocks Mixed Read More
Writing in the Huffington Post, Corporation for Enterprise Development president Andrea Levere says the outdated notions that link manufactured housing with “Hurricane Katrina trailers” has put a damper on the efforts to house many homeless survivors of Hurricane Sandy that ravaged the northeast U.S. shores Oct. 29. While Federal Emergency
Opportunity to Dispel MH Myths is Now Read More
Institutional investors as well as nontraditional investors are poised with $6 to $9 billion to acquire REO (real estate-owned) properties that many number from 60,000 to 90,000 in the single-family rental market, according to nationalmortgagenews. Keefe, Bruyette & Woods analyst Jade Rahmani says while this may account for only 15
REO-to-Rental Market Expanding Read More
The journalofcommerce reports WEQ Britco is set to begin building a 2,000 room modular workforce accommodation complex in northern Manitoba, Canada at the proposed site of Manitoba Hydro’s multi-billion dollar Keeyask power generation plant on the Lower Nelson River. Manitoba Hydro began preliminary work on access road and camp development
Canadian Project Requires Extensive Modular Housing Read More
StatesmanJournal says Universal Forest Products, Inc. (UFPI) may be interested in moving to Silverton, Oregon’s vacant industrial park from Grand Rapids, Mich. City manager Bob Willoughby informs MHProNews the city has been discussing this option with UFPI for several months. The closing of Redman Homes in May, 2008 led to
UFPI Moving to Oregon? Read More
