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.
CNNMoney tells MHProNews a lawsuit filed by the U.S. government against Wells Fargo accuses the giant lender of intentionally concealing bad loan information on 6,320 risky loans which eventually cost the government $190 million for defaulted home mortgages. Filed in the Southern District Court of New York, the complaint alleges …
According to nationalmortgagenews ,CoreLogic says residential shadow inventory as of July 2012 dropped to 2.3 million units from 2.6 million units a year ago, a decline of 10.2 percent. Of the 2.3 million, one million are seriously delinquent, 900,000 are going thru foreclosure, and 345,000 are already real estate owned …
Although U.S. stocks fell today as investors prepare to sift through Q3 corporate earnings reports, the Dow is five percent below its all time high of 14,146.53, set five years ago today. CNNMoney reports the Dow Jones Industrial Average fell -0.81 percent, -110.12 points, to close at 13,473.53, while the …
RVBusiness says manufactured home and recreational vehicle manufacturer Skyline Corp. has reported an improved net loss for its first quarter 2013, as well as a slight drop in sales. This quarter loss amounted to $3.5 million as compared to a $6.8 million loss a year ago. Total sales fell from …
Reuters reports Sun Communities, Inc. is purchasing four eastern Michigan manufactured housing communities from a group of Rudgate affiliated entities for $70.8 million comprised of 1,996 manufactured home sites. Sun is also financing two other Rudgate communities, which it will then manage, also in eastern Michigan, comprising 1,598 manufactured housing …
According to Senior News Weekly, the National Center for Policy Analysis (NCPA) reports Baby Boomers 45-64 are experiencing high mortgage and health care expenses while their retirement and savings dwindle, leaving them short of sufficient income to retire. Real incomes for those middle-aged to older have stagnated in the last …
The mailtribune reports from Medford, Oregon the city council is considering a request to not only protect older homes from demolition, but to preserve homes that are older than 50 years in neighborhoods where factory-built housing or apartments can be excluded. Medford State Representative Sal Esquivel, noting a manufactured house …
According to dl-online in west central Minnesota, Homark Homes of New York Mills, MN is building two modular bunkhouses for a gold mine in Musselwhite, Ontario, Canada. Each building will measure 28 feet by 282 feet and will house 76 mining workers in two-man units. While their focus remains on …
The Monette (AR) City Council unanimously passed an ordinance regarding the placement, appearance and age of manufactured homes newly sited within the city limits. The Town-Crier says the homes must be no older than five years, contain 720 square feet, have underpinning around the base of the dwelling and be …
Speaking at the Federal Reserve Bank of New York, HousingWire tells MHProNews Federal Reserve Governor Elizabeth Duke says the 1.6 million vacant houses across the nation are stalling a housing recovery, as well as harming surrounding house values. Those not on the market in particular present a danger because they …
Despite rather good news in the U.S. last week about job growth and falling unemployment rates, the World Bank predicted a slowdown in growth in Asia, encouraging investors to stay against the wall, as all three indexes slid slightly. CNNMoney reports the Dow Jones Industrial Average fell -0.19 percent, -26.5 …
The Daily News reports housing permits for Gloucester County, Virginia on the Chesapeake Bay from Aug. 2011 to Sept. 2012 increased to 128, including 97 single-family, 14 multi-family and 17 manufactured housing permits. The previous 12 months total was 108 permits, with the Gloucester County Planning Commission issuing 79 single-family, …
The Sydney Morning Herald in Australia tells MHProNews a building system called Klik can manufacture everything from single houses to high rise apartment buildings. Using either square, linear, L-shape or C-shape bases that support up to 14 different single and three-bedroom apartments, four Melbourne apartment buildings have been constructed recently …
The Wall Street Journal reports billionaire investor Sam Zell is expected to choose Thomas Heneghan, now CEO of Equity LifeStyle Properties, Inc. (ELS), to replace Gary Garrabrandt as head of Equity International, Zell’s global real estate investment arm. Investors in Equity International (EI) must approve Zell’s choice, but could also …
Augusta, Georgia’s WBJF-TV tells MHProNews Augusta businessman Donnie Thompson and a New York City developer are proposing dozens of modular homes on a six acre tract that Thompson recently bought from the city for $300,000. Mayor Deke Copenhaver says, “We need to bring more residents into downtown Augusta. Our loft …
Investors tells MHProNews the stocks of Patrick Industries (PATK) and Drew Industries (DW) surged this past week. Drew advanced seven percent, and Patrick, which jumped 20 percent at the beginning of the week, settled at plus 13 percent. Both companies are major component suppliers to the manufactured housing and RV …
In past years, start-up companies have generated three million new jobs annually, but that number has fallen below 2.5 million since the beginning of the recession. According to CNNMoney, Economist Tim Kane of the Hudson Institute states in the 1980’s and 1990’s 11 jobs were created by start-ups per every …
While the jobs report was slightly better than expected, and the unemployment rate fell, it was not enough to ease the minds of investors concerned about the sluggishness of the overall economy. CNNMoney reports the Dow Jones Industrial Average advanced +0.26 percent, +34.79 points, to close at 13,610.15, while the …
Friday’s jobs reports from the U.S. Bureau of Labor Statistics shows mortgage lenders have added a total of 18,400 employees since January, 2,800 (full-time) of them in August 2012, bringing the overall total to 280,500 jobs in the mortgage banking and brokerage sector. According to nationalmortgagenews, this marks the sixth …
Canada’s Killam Properties, Inc. (TSX:KMP) announces it will release it’s third quarter 2012 financials for the period ending Sept. 30 on Tue. Nov. 6 after the market closes. Canada Newswire says a conference call to discuss the results will follow on Wed., Nov 7, 2012 at 11:00 AM EST. The …
