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.
napavalleyregister reports 80 people, representing a three county area just north of San Francisco, heard five speakers at the Golden State Manufactured-Home Owners League (GSMOL) address issues of rent control, recruitment, civil law and fair housing. Two attorneys who specialize in construction and property law discussed responsibilities landlords have to …
American Banker reports Richard Cordray, head of the Consumer Financial Protection Bureau (CFPB), stated the agency will not mandate a 20 percent down payment in new underwriting rules for low-risk loans. Testifying before the Senate Banking Committee Sept. 13, he was responding to a question about the CFPB’s qualified mortgage …
RVBusiness reports a copyright dispute has spawned a lawsuit, and countersuit, between two manufactured home producers, Cavco Industries, Inc. and Champion Home Builders, Inc. Phoenix-based Cavco and its Palm Harbor Homes (PHH Liquidation Trust) division filed the initial copyright lawsuit in federal court, alleging Champion violated the copyright law and …
menafn says MHC owner Equity LifeStyle Properties, Inc. (ELS) declares all shareholders of its 8.034% series A cumulative redeemable perpetual preferred stock will receive a redemption notice entitling them to receive $25 per share for outstanding shares as of Oct. 18, 2012. In addition, shareholders will receive 0.094846 in unpaid …
Renewed concerns about the European debt crisis and global economic slowdown kept investors on the sidelines in today’s trading. CNNMoney says investors are more interested in the new iPhone due out Friday, as the three major indexes barely moved. The Dow Jones Industrial Average inched up +0.09percent, +11.54 points, to …
heraldonline tells MHProNews the Manufactured Housing Association for Regulatory Reform (MHARR) issued a bi-partisan appeal to President Obama and Republican presidential candidate Mitt Romney to assist in revitalizing manufactured housing as a form of affordable homeownership for millions of Americans of modest means to achieve the dream of owning their …
Prairiebizmag reports Red Lake Falls, Minnesota based Homark Homes is building two dormitory-style man camps for a Goldcorp, Inc. gold mine near Musselwhite, Ontario, Canada. Built to house 76 workers, each building consists of 16 modular units connected to form a two-story residence hall 28 feet wide by 282 feet …
CNNMoney reports trading was light Monday as investors continue to digest the Federal Reserve’s decision to stimulate the economy coupled with Rosh Hashanah, the start of the Jewish New Year. All three major indexes remained unchanged. The Dow Jones Industrial Average was 13,553.10, the Nasdaq stayed at 3,178.67, while the …
Skyline, Louisiana Pacific Active as Three Indexes Snooze Read More
Palmbeachpost reports from Jupiter, Florida that the town council will consider a proposal to close Whitehaven Seniors Adult Park and build multi-family rental units and a shopping center on the 29 acres. The developer, Jupiter-based FLF 1030 LLC, would be required to pay the town $336,000 toward affordable housing programs …
Multi-family Units, Shopping Center to Replace MHC Read More
Marking the fastest sales pace since Dec. 2007, HousingWire reports home sales in Chicago’s seven county region in August picked up, with properties spending only 139 days on the for sale market as opposed to 165 days in Aug. 2011, according to REMAX. August 2012 home sales rose nearly 27 …
RVBusiness reports Elkhart, Indiana-based Patrick Industries has acquired Creative Wood Designs, Inc. of Ligonier, Ind. for $5.7 million, which includes a contingency payment based on future performance. With expected revenues for 2012 of $18 million, Creative Wood Designs produces hardwood furnishings and trim for the recreational vehicle industry, and marks …
The House Financial Services Committee says after an extensive nine month audit by the Government Accountability Office (GAO) of the Financial Stability Oversight Committee (FSOC) and the Office of Financial Research (OFR), both creations of the Dodd-Frank Act, public information of their activities is limited. Financial Services Committee Chairman Spencer …
Dodd-Frank Entities Lack Transparency and Accountability Read More
The Federal Reserve announced it will buy $40 billion of mortgage-backed bonds each month for as long as it deems necessary to stimulate the economy, and the three indexes responded with smiles, each posting somewhat modest gains. CNNMoney reports the Dow Jones Industrial Average advanced +0.40percent, +53.51 points, to end …
Housing Composite, Tracked Housing Stocks all Smiling Read More
dailycamera reports from Lafayette, Colorado just north of Denver residents of Arbordale Acres MHC are upset over new clauses inserted in their leases this summer that prevents them from subletting their homes. Additionally, a home is considered abandoned if it is not sold or occupied by an approved tenant within …
piquenewsmagazine reports from Pemberton in British Columbia, Canada north of Vancouver, a 22 unit modular building will provide affordable housing for seniors and people with disabilities. Pemberton Villas meet EnerGuide 80 standards and contain features designed for seniors and people with disabilities. The four million dollar project was funded by …
nationalmortgagenews says, according to a new government report, servicers that work on delinquent FHA (Federal Housing Administration)-insured mortgages are shoring up the agency’s losses on insurance claims because they are becoming more adept at dealing with short sales. The FHA says its servicers completed 27,150 short sales for the first …
HousingWire reports the Obama administration’s August Housing Scorecard says the number of underwater borrowers fell from 12.1 million if the fourth quarter of last year to 10.8 million at the end of Q2 2012, a drop of 11 percent, according to data from CoreLogic. The most recent numbers show the …
Administration’s Housing Scorecard Shows Modest Gains Read More
gigaom reports modular home producer Blu Homes has raised $60 million through global equity investment fund manager Skagen Group of the Netherlands. Blu bought the intellectual property rights and modular designs from Michelle Kaufmann Designs last year after that company closed its doors in 2009. As MHProNews reported Jan. 16, …
therealdeal informs MHProNews that Sam Zell, CEO of Equity Lifestyle Properties, Inc. has taken the helm of Equity International in the wake of the sudden departure of its CEO and co-founder Gary Garrabrandt, and chief strategic officer Thomas McDonald. Equity International primarily invests in or buys existing real estate companies …
Sudden Resignations Put Zell Back in Driver’s Seat Read More
The Federal Reserve’s new bond-buying plan shook the cobwebs loose from the stock market, rallying the Dow and the S&P to their highest closing levels since Dec. 2007, and the Nasdaq rose to its highest point since Nov. 2002. CNNMoney reports the Dow Jones Industrial Average spiked 1.55 percent, 206.51 …
All Three Indexes Rally Big; Housing Stocks close Mixed or Even Read More
