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.
In a study by the American Association of Retired Persons (AARP) written up in SeniorHousingNews, seniors have taken a big hit in foreclosures since 2007, with those 75 and older having a rate of 3.2%, higher than younger members of the 50-plus age group. The foreclosure rate on prime loans […]
Foreclosure Rate for Seniors Rising Read More
As follow-up to a story we published yesterday, July 25, concerning the development of 251 manufactured homes in Halekulani, near the southeast coast of Australia, express-advocate-wyong reports opposition is increasing as nearby residents rallied outside the site Wednesday. As owners of the property, the Darkinjung Aboriginal Land Council wants to
Opposition to Australian MH Development Grows Read More
MarketWatch says real estate investment trust (REIT) Sun Communities, Inc. reported its second quarter 2012 financials. For Q2 2012, funds from operations (FFO) increased to $22.7 million, $.77 per share versus $16.4 million in the comparable 2011 quarter, which produced $.70 per share. Net income for the second quarter 2012
Sun Communities, Inc. Releases Financials Read More
Following up on our article July 16, 2012, MHProNews has received word the RV/MH Hall of Fame and Museum has far surpassed its goal of raising $100,000 to match the Ingram family challenge in order to keep the Museum open. $10,000 short of their goal only two weeks ago, and
RV/MH Museum Fundraiser Exceeds Goal Read More
CNNMoney says Mario Draghi, the president of the European Central Bank, in promising he would do everything necessary to preserve the Euro, sent the Dow Jones Industrial Average flying high, as it gained 211.65 points, rising 1.67 percent, to 12,887.93. The Nasdaq also shot up, gaining +1.37 percent to 2,893.25,
Patrick, Cavco, UFPI Gain Nicely Read More
According to MarketWatch, reflecting an 15 percent increase in revenue from the manufactured housing industry, Patrick Industries, Inc. (+8.19%) of Elkhart, Indiana reported net sales for the second quarter of 2012 rose 39.9 percent, or $33 million, over the $82.6 million of the same quarter in 2011. Net income for
Patrick Industries Announces Q2 Financials Read More
CNNMoney says according to Zillow, home values rose +0.2% year-over-year in the second quarter to a median of $149,300, the first annual increase since 2007. The real estate listing site also said prices increased 2.1% from the first quarter. Even though overall home prices continue to be 24% down since
Home Values Inch Upward Read More
mcall reports from the Lehigh Valley in Pennsylvania Love Homes and its owner, Lawrence Higgins, in Lower Macungie Township are in danger of losing licenses necessary to conduct its retail business of selling manufactured housing. A Pennsylvania Department of Banking order issued in March, 2012 has accused Love Homes of
Manufactured Housing Dealer may Lose License Read More
MHProNews has learned from NationalMortgageNews the Consumer Financial Protection Bureau (CFPB) seeks input from small banks and credit unions to set up special advisory boards, noting director Richard Cordray said small institutions can be exempt from certain regulatory requirements, but only on a case-by-case basis. Appearing before a House subcommittee
Smaller Lenders may be Exempt from Regulations Read More
As an indication the housing market may take longer to recover than hoped, CNNMoney reports new home sales fell 8.4% in June to a seasonally annual-adjusted rate (SAAR) of 350,000, following sales in May that hit a two year high, according to the Census Bureau. Housing market analysts expected sales
MHProNews has learned at a hearing on the Financial Services Oversight Council (FSOC), the “super committee” of regulators established as part of the Dodd-Frank Act to provide comprehensive monitoring of our nation’s financial system, House Financial Services Committee Chairman Spencer Bachus (R-AL) said there is little evidence the FSOC has
FSOC Regulators Losing Sight of Purpose Read More
Despite continuing worries about major European economies, AT&T and Boeing’s corporate returns helped buoy the Dow Jones Industrial Average as it moved up +58.73 points, +0.47%, to 12,676.05. CNNMoney reports the Nasdaq fell 0.31 percent to 2,854.24, while the S&P lost -0.03 percent to close at 1,337.90. The Yahoo! Finance
Housing Composite Gains More than Dow or Tracked Stocks Read More
The Manufactured Housing Association for Regulatory Reform (MHARR), in its continuing attempts for the Department of Housing and Urban Development (HUD) to fully and properly implement the Manufactured Housing Improvement Act of 2000 which especially impacts the industry’s smaller businesses, sent a letter July 19, 2012 to HUD Assistant Secretary
MHARR to HUD: Respond to Affordable Housing Need, not Regulators Read More
LakesMail from Australia tells MHProNews a proposal to site 251 manufactured homes in Halekulani in New South Wales, southeastern Australia, will be determined by Wyong Shire councillors. The Darkinjung Local Aboriginal Land Council, which owns the two sites proposed for the development on Lake Munmorah north of Sydney, says the
MH Development Proposed near Sydney, Australia Read More
Following up on a series of articles first published a year ago and last reported July 12, 2012, voicesnews says Garden Homes Management Corp. has resubmitted plans for 121 manufactured homes on 40.79 acres to the Oxford (Connecticut) Conservation Commission, Inland Wetlands Agency (CCIWA). Garden Homes has been denied approval
MH Developer Persists, Again Read More
DocStoc reports billionaire investor Sam Zell has donated $5 million to the University of Michigan, his alma mater, for a comprehensive entrepreneurial law clinic called ZEAL, the Zell Entrepreneurship and Law Program. Zell says: “My goal with entrepreneurial ventures at the university has always been to create cross-pollination across multiple
An informed source tell MHProNews that HUD has paid Administering Organization (AO) services provided by the National Fire Protection Association (NFPA). The source indicates that HUD plans to have phone and face to face meetings with MHCC (Manufactured Housing Consensus Committee) members before the end of the year. (Image credit:
HUD Pays, MHCC Back in Business Read More
According to OriginationNews, the Consumer Financial Protection Bureau (CFPB) wants to standardize training so all loan originators meet the same requirements for fitness, character, and financial responsibility. The new standards would erase some of the differences between bank loan originators and state-licensed LOs created by Congress’ passage of the SAFE
Regulation would Standardize Loan Originator Training Read More
CNNMoney says gloom brought on by weak domestic manufacturing data and lingering fears about the economies of Spain and Greece, and now Italy, sent the Dow Jones Industrial Average down to 12,617.32, losing -104.14. points, -0.82 percent. The Nasdaq also fell, dropping -0.94 percent to 2,862.99, while the S&P lost
Housing Composite Falls More than Tracked Stocks Read More
The Federal Housing Finance Agency (FHFA) reports in its latest monthly House Price Index nationwide home prices rose 3.7 percent May 2011 thru May 2012. Home prices rose only 0.8 percent from April to May, while the price increase for April from the previous month was revised downward from 0.8
Home Prices Creeping Back Up Read More
