Manufactured and Modular Housing News

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.

Originations for the Year?

While Michael Fratantoni, vice resident of research for the Mortgage Bankers Association (MBA) is predicting under $1.1 trillion in new loans this year, NationalMortgageNews, the article’s source, projects originations will be $1.3 trillion, 18% higher than MBA’s. As refinancings continue to slide, says Fratantoni, he is expecting purchase loans to …

Originations for the Year? Read More

English Company Expands Modularly

Factory Homes, Ltd (FHL) in Hull, England has received the Q-Mark Certification by BM Trada, one of the toughest standards for construction products, and will begin producing modular homes with a low-carbon footprint to meet the need for affordable housing. Based on automobile manufacturing, the cutting-edge technology focuses on high …

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Zoning Eased to Allow MH for Flood Victims

Following up on a story concerning the flooding in Minot, North Dakota last spring, KFYR-TV reports the Minot City Council is relaxing zoning requirements to allow manufactured homes to be sited in areas not previously zoned for them, sometimes to the chagrin of neighbors. Working on a case by case …

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Import Law Needs to be Amended

The National Association of Home Builders (NAHB) asked Congress to amend the Lacey Act that holds unknowing purchasers responsible for buying illegal wood products from overseas. Under current law the U.S. government can seize any imported wood product—cabinet knobs, wood trim, lumber—made from plant material sold in violation of foreign …

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Deer Valley Leaps Again, Skyline Flies, Dow Drops

CNNMoney reports the Greek stock market fell 3.6 percent today, as that country’s uncertain political situation kept investors lined against the wall on U.S stocks. All three of the indexes lost ground today, as the Dow Jones Industrial Average dropped 76.44 points, -0.59 percent, to end the day at 12,932.09. …

Deer Valley Leaps Again, Skyline Flies, Dow Drops Read More

Tight Squeeze for Modular Homes

The Rapid City Journal in South Dakota reports the Box Elder Planning and Zoning Commission wants developer Bob Akers to rethink his plans to replace the 125-site Wagon Wheel Village MHC with 166 modular homes spaced ten feet apart. Located just east of Rapid City, the local government has no …

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Florida’s Largest MH Insurer Wants to Reduce

Following up on a story we published April 25, 2012, TCPalm says state-run Citizens Property Insurance in Florida wants to reduce its policyholders by some 687,000, 45 percent. Created by the state to provide insurance for manufactured home owners ineligible for private insurance, Citizens is now the largest insurance company …

Florida’s Largest MH Insurer Wants to Reduce Read More

MOD Custom Builder Celebrates

BusinessReviewUSA informs us Moosic, PA-based Signature Building Systems, LLC is marking two milestones: Building its 4,000th custom modular home, and its 20th anniversary. CEO Victor DePhillips says, “The last four years have been difficult and we are thrilled to say we have made it through the storm and are currently …

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Good News for MH—Shipments Rise Again

The Manufactured Housing Institute (MHI) reports MH shipments for the first quarter of 2012 totaled 12,780 homes as opposed to 9,696 for the same period 2011, an increase of 31.8 percent. March 2012 saw 4,696 new manufactured homes shipped, 16.4 percent more than the same month 2011. Although shipments of …

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Buffett Not Naming Successor

UPI says Berkshire Hathaway Chairman Warren Buffett told stockholders gathered at the company’s annual meeting in Omaha his successor will have a sharp eye for profitable long-term investments, good negotiating skills at making large-scale deals to benefit the stockholders, while sticking to a solid investment strategy. Although share prices of …

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Florida Flooded with Shadow Inventory

Although Florida’s shadow inventory decreased nine percent from Q1 2010 to the end of 2011, the 550,000 units still account for almost one-third of the nation’s underwater inventory of 1.6 million properties, according to CoreLogic. In its study, Florida Realtors says 28 percent of the state’s homes as of Feb. …

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Housing Outlook Promising, but Still Mixed

The U.S. Department of Housing and Urban Development (HUD) and the Department of the Treasury, in their April 2012 housing scorecard, report mortgage delinquencies are significantly below levels of a year ago, having declined four straight months; and sales of existing homes in the first quarter were 5.3 percent better …

Housing Outlook Promising, but Still Mixed Read More

Dow Recovers Early Losses; Louisiana Pacific Rises Nicely

CNNMoney reports the Dow Jones Industrial Average bounced back from losses early in the day as investors sifted for the significance of leadership change in France and Greece. The Dow nudged down 29.74 points, -0.23 percent, remaining just above thirteen thousand at 13,008.53. The Nasdaq gained slightly, +0.05 percent, to …

Dow Recovers Early Losses; Louisiana Pacific Rises Nicely Read More

You Cannot Drive Your House Yet, but…..

In the near future you will be able to know when your children receive visitors to your home in Tennessee while you are on a cruise ship in the Mediterranean. Applying rapidly evolving technology to home building, Honda Motor Co. is evaluating two test homes in Japan that run on …

You Cannot Drive Your House Yet, but….. Read More

PA House Measure Deals with MH

DoylestownPatch reports from the Pennsylvania House of Representatives, HB 1767, sponsored by Rep. Robert Freeman, D-Northampton, dictates the responsibilities of an MHC owner during the sale of an MHC under the Manufactured Home Community Rights Act. Up for second consideration this week, MHProNews.com has learned the measure also denotes the …

PA House Measure Deals with MH Read More

Mail Delivery a Problem at MHC

While the severest of weather cannot stop delivery of the U.S. Mail, residents of Airway Mobile Home Community in Oak Lawn on the south side of Chicago have learned cars or other obstacles that block their mailboxes may detour their mail to a post office for pick-up. SouthtownStarSun-Times reports a …

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Mortgage Firms add Workers

The United States Bureau of Labor Statistics (BLS) reports mortgage companies added 2,700 full-time employees in March and another 2,800 in April, bringing employment in the mortgage and brokerage sector to 267,600 in March, almost 3,000 more employees than in Feb. of this year. OriginationNews tells MHProNews.com while employment in …

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Community Ownership of Communities

A segment on National Public Radio (NPR) highlights the problem MHC residents may face if the MHC owner decides to sell his community, causing residents to lose a home that may no longer be mobile, and thus their financial investment. Where some people may see this as a huge boulder …

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