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.
House Financial Services Chairman Spencer Bachus (R-Ala.) released a report in rebuttal to Dodd-Frank supporters who claim the new law ends bailouts. Entitled, “The Dodd-Frank Act, the Persistence of ‘Too Big to Fail,’ and the Institutionalization of Government Bailouts,” the analysis asserts Section 204 of Dodd-Frank allows the FDIC to …
Modular builder Red Sea Housing Services in Jubail, Saudi Arabia reports profits for the first nine months of 2012 rose 32 percent over the same period 2011, according to ConstructionWeekOnline. Year-over-year profits for the three months since June nearly doubled compared to last year. The company said the net income …
Despite calls by analysts and policy makers following the recent crash to get the government out of the housing business, Kerri Ann Panchuk of HousingWire says the GSEs still account for 85-95% of the outstanding mortgage loans, securitized and unsecuritized. Plus there is a myriad of programs to help homebuyers—Home …
Universal Forest Products, Inc. (UFPI) reported an increase of 13.7 percent net sales Q3 2012 over Q3 2011, $533.4 million over $486.9 million. Due to a $2 million one time, pretax charge for a loss contingency, net earnings were $4.2 million in 2012 versus $5.6 million in the same period …
U.S. stocks moved very little despite positive housing news and strong third quarter corporate reports. CNNMoney reports the Dow Jones Industrial Average rose +0.04 percent today, +5.22 points, to close at 13,557, while the Nasdaq gained +0.10 percent, +2.95 points to close at 3104.12. The S&P also edged up, +0.41 …
LPX, PATK, and SKY all Outperform the Three Indexes Read More
RVBusiness says White Plains, NT-based Drew Industries, parent company of MH and RV suppliers Lippert Components, Inc. and Kinro, Inc. will release its third quarter 2012 corporate financial report prior to the market opening Oct. 31. A conference call will follow that same day at 11 AM eastern time, although …
The National Association of Home Builders says statistics from HUD and the U.S. Census Bureau report new home construction shot up 15 percent to a seasonally-adjusted annual rate (SAAR) of 872,000 units. New single-family home construction accounted for 11 percent of the increase, 603,000 units, the best rate since Aug. …
Following a story we last published Sept. 24, 2012, concerning a race between two women for House District Seat 37 in southeastern Delaware, Cape Gazette Village Soup has posed questions to the candidates. Republican Briggs King is the incumbent and vice president of the county realtors association. Democratic challenger Beth …
While the Mortgage Bankers Association (MBA) asserts the Consumer Financial Protection Bureau (CFPB) goes beyond Dodd-Frank in its proposed mortgage servicing guidelines by creating compliance barriers, it also calls the proposed exemption for smaller servicers too narrow. HousingWire tells MHPronews consumer groups say the servicing standards do not protect distressed …
According to HousingWire, FNC’s most recent Residential Price Index (RPI) shows real estate values have risen to a 20 month high, as foreclosure sales have fallen 23 percent from a year ago to 17.4 percent. In the second quarter FNC home prices increased 2.7 percent, marking the largest rise in …
NationalMortgageNews reports loan modifications completed under both proprietary programs and the government’s Home Affordable Modification Program (HAMP) rose to 76,000 in August, an increase over the 66,000 in July and 46,400 in June. Of the 59,459 proprietary loan modifications in August, Hope Now says 93 percent had fixed interest rates …
A strong batch of corporate earnings reports pleased investors today, sending stocks and all three indexes into positive territory. CNNMoney reports the Dow Jones Industrial Average rose +0.95 percent today, +127.55 points, to close at 13,551.78, while the Nasdaq gained +1.21 percent, +36.99 points to cross the 3100. mark and …
MHProNews has learned the NAHB/Wells Fargo Housing Market Index (HMI) for newly-built single-family homes edged up one point to 41, its highest reading since June 2006. Any score above 50 indicates builders see sales conditions as good rather than poor. “Many builders are reporting increases in the number of serious …
Following a story from May 21, 2012, PalmBeachPost says a plan to close the Whitewater Senior Adult Park MHC and develop the land into multifamily rental units and a commercial center will come to a final vote before the Jupiter, Florida Town Council. Arrangements have been made with Lakeshore Communities …
We covered a story Oct. 4, 2012 concerning the federal court-ordered closing of Duroville MHC in Mecca, Calif. due to poor housing conditions, and the fate of those living there. MyDesert reports 41 of the manufactured homes of the 180 homesite Mountain View Estates in nearby Oasis, Calif. had been …
CNNMoney tells MHProNews while Citigroup reported a net profit of $468 million for the third quarter, including several significant losses, their mortgage originations, unlike other large lenders, fell 15 percent from a year earlier to $14.5 billion. Chief Financial Officer John Gerspach, admitting his company did not increase staff quickly …
RVBusiness reports the RV/MH Hall of Fame in Elkhart, Indiana recently announced the launch of its website for the Northern Indiana Event Center to promote rentals for wedding receptions, meetings, company parties, shows and other gatherings. Previously, interested parties had to wade through the history and other features of the …
Citigroup’s strong quarterly report, better-than-expected retail sales and the improvement in Federal Reserve Bank of New York’s Empire State Manufacturing Index were welcomed by investors as all three indexes finished in positive territory in today’s trading. CNNMoney reports the Dow Jones Industrial Average rose +0.72 percent today, +95.38 points, to …
In his review of Stanley Kurtz’s Spreading the Wealth: How Obama is Robbing the suburbs to Pay for the Cities, Eric Miller notes in Sustainable City News how the right has set up a straw man just to smash it down. Miller points out the suburbs were subsidized in the …
CapeGazette VillageSoup informs MHProNews from Georgetown, Delaware Captain’s Way Development LLC has requested a zoning change for a 155-acre parcel of land from single-family site built to manufactured home community. Developer Pret Dyer, saying it is an opportunity for Sussex County to achieve its affordable housing quota, also stated he …
