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.
HousingWire says seriously delinquent mortgages insured by the Federal Housing Administration hit 713,104 in May, the highest since the beginning of the year, but 23 percent higher than May 2011, and more than double the seriously delinquent loans from Fannie Mae and Freddie Mac—3.5 percent versus 9.4 percent for FHA. […]
Charges of unfair labor practices lodged with the National Labor Relations Board (NLRB) against Blu Homes of Vallejo, California by San Francisco’s Carpenters Union Local 180 have been mostly dismissed, according to ModularHomeCoach. When Blu moved to CA last fall from Massachusetts and renovated part of an old Naval base
MOD Builder Blu Fights Union Busting Charges Read More
Investors stepped back on concerns about Q2 corporate results and the drop in value of the Euro as all three indexes fell slightly. CNNMoney reports the Dow Jones Industrial Average dropped -36.03 points, -0.28%, to close at 12,736.44. The Nasdaq fell -0.19 percent to 2,931.77, while the S&P lost -0.16
Indexes Edge Down, Nobility and Patrick Gain Read More
The National Association of Home Builders (NAHB) states the NAHB/First American Improving Markets Index (IMI) shows four more markets are showing sustained and measured improvement than last month, bring the total to 84 for July. The IMI is based on monthly figures relating to employment growth, house price appreciation, and
Housing Index Nudging Up Slowly Read More
triblive reports from Kittaning, Pennsylvania northeast of Pittsburgh the Mechling-Shakely Veterans Center in Sugarcreek for chronically homeless veterans was unable to raise the $56,000 in matching funds to add five modular housing units to the center as planned. The $600,000 grant was funded partly by HUD’s Continuum of Care program
Veterans Lose Needed Modular Housing Read More
BusinessWire reports from Cleveland, Ohio the CBIZ Small Business Employment Index (SBEI) says hiring trends grew by 1.38 percent in June, contrary to weakening reports from the federal government’s statistics for the same period. A barometer for hiring trends of businesses with fewer than 300 employees, and provider of payroll
Small Biz: Adding Workers Read More
Citiadr reports Killam Properties, Inc., (TSX: KMP) based in Halifax, Nova Scotia, Canada, will release its financial results for the second quarter ending June 30, 2012 on Wed. Aug. 8, 2012 after the market closes. The following day, Thur. Aug. 9, a conference call will be held at 10:00 AM
Killam to Release Results Read More
azstarnet reports the two major mortgage market overseers in the federal government are trying to convince private lenders to ease up on lending restrictions that have become tighter than those required by Fannie Mae and Freddie Mac, which are under the jurisdiction of the Federal Housing Finance Agency, and the
Fed Lending Reforms due Soon Read More
The Labor Department’s report that only 80,000 jobs were added in June posed a scary prospect for the overall economy that kept investors along the wall, as all three indexes lost ground. CNNMoney tells us the Dow Jones Industrial Average dropped -124.2 points, -0.96%, to close at 12,772.47. The Nasdaq
Most Housing Stocks Move Slightly Read More
The Manufactured Housing Institute (MHI) will testify before the House Financial Services Subcommittee on Financial Institutions and Capital Markets July 11 concerning the impact of Dodd-Frank on residential mortgage reforms. Clayton Homes General Counsel Tom Hodges, representing MHI during the hearing, will address the measure’s unintended consequences that limit credit
Congressional Hearing Set on Dodd-Frank Impact Read More
Senior Housing News states although household net worth across all age groups fell 35 percent between 2005 and 2010, from $102,844 to $66,740, for 65+ homeowners the drop was only 13 percent, from $195,890 to $170,128. The 35-and-under households median net worth dropped from $8,528 to $5,402, a 37 percent
Seniors Fare Better During Housing Crunch Read More
ShowWays informs MHProNews.com that the new North Wing of the Kentucky Exposition Center will be the site of the 2013 Louisville Manufactured Housing Show Jan. 23-25. Eight-four exhibitors displayed in 2012, and the new space will allow for more manufactured homes to be displayed. Last year brought out 1022 attendees,
Louisville MH Show Set Read More
Calling the high cost of affordable housing the “single biggest obstacle to making Vancouver a more livable city,” Vancouver, British Columbia’s Mayor Gregor Robinson set up a competition to garner ideas for solutions, the Vancouver Sun tells MHProNews.com. The Mayor’s Task Force on Housing Affordability received 68 entries, including drawings
Modular Housing in Vancouver BC? Read More
Writing in OriginationNews, Paul Muolo expresses the mortgage industry’s contempt for the Consumer Financial Protection Bureau’s (CFPB) loan officer compensation proposal, particularly the ‘flat fee’ payments. Some industry officials, thinking the agency is more intent on meeting the deadline of early 2013 than making sure the rule is equitable, are
Loan Originator: Comp. is Wrongheaded Read More
NationalMortgageNews reports Freddie Mac says ten out of the last eleven weeks the average fixed-rate 30-year mortgage (FRM) has set new lows, with the week just ending July 5 marking another one at 3.62 percent. The average 15-year FRM fell to 2.89 percent. The average five-year hybrid remained at 2.79
30-year FRM Keeps Falling Read More
Anchorage Daily News states weekly unemployment benefit applications fell 14,000 to a seasonally-adjusted 374,000 according to the U.S Dept. of Labor, the fewest in six weeks. While economists predict only 90,000 jobs were added last month, payroll provider ADP counts 176,000 jobs added in June. ADP only measures private sector
Employment Figures not Expected to be Robust Read More
Tepid economic data, including a drop in retail sales, sent the market down earlier in the day, but led investors to hope meaningful central bank action will be forthcoming. CNNMoney tells us the Dow Jones Industrial Average dropped -47.15 points, -0.36%, to close at 12,896.97. The Nasdaq rose +0.04 points
Dow Edges Down, Tracked Housing Stocks Mixed Read More
RVBusiness tells us that Ellen Kelleher, vice president-property management at Equity Lifestyle Properties (ELS) for almost 20 years, is retiring at the end of the year. Her duties will be assumed by others in the organization. Other personnel changes, and their new positions include: Peter Underhill, senior vice president-revenue management;
Personnel Changes at ELS Read More
Azstarnet reports four steel cargo containers turned into a two-story two-bedroom house is turning heads in Tuscon, Arizona, but also raising some voices. Modified in a factory to conform to state and local regulations, it falls under the jurisdiction of the Arizona Office of Manufactured Housing and meets the standards
Cargo House Creating Consternation Read More
CNNMoney says Trulia reports rents in the U.S. rose an average of 5.4 percent June 2011 to this past June, as foreclosed former homeowners and would-be homebuyers turned away by lenders drive up demand. Asking prices on for sale homes only increased 0.3 percent for the same period. In metropolitan
Rents on the Rise, Home Prices on the Fence Read More
