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.
SacBee reports MH and RV component manufacturer and distributor Patrick Industries, Inc., has finalized its acquisition of Elkhart, Indiana-based Performance Graphics, a designer, producer, and installer of exterior graphics for the RV, marine, enclosed trailer, and racing industries. Todd Cleveland, President and CEO of Patrick, said, “The acquisition of Performance …
NationalMortgageNews reports the battle over President Obama’s nomination of Richard Cordray to head the Consumer Financial Protection Bureau (CFPB) has stymied three uncontroversial confirmations in related areas. Senate Minority Leader Mitch McConnell (R-Kent.) has put a hold on Martin Gruenberg’s nomination to head the Federal Deposit Insurance Corp. (FDIC), Thomas …
Partisan Battle Continues to Dog Richard Cordray as Head of CFPB Read More
CNNMoney reports the Dow Jones Industrial Average surged over 300 points on positive news from the housing market, and as overhanging fears about the European debt crisis subsided. The Dow climbed throughout the day, gaining 337.17 points, +2.87 percent, to close at 12,103.43. The Yahoo! Finance Manufactured Housing Composite Value …
BostonGlobe reports three potential candidates have been identified as possible monitors to make sure banks comply with any settlement of a nationwide foreclosure probe. In the wake of disclosures that mortgage companies were using faulty documents to seize homes during the foreclosure process, all 50 states began investigations. The monitor …
Candidates Being Considered to Monitor Foreclosure Probe Read More
MarketWatch reports from Eagle, Idaho, that Terrence J. Sheldon has resigned from the board of directors of T.J.T., Inc., effective Dec. 15, 2011. T.J.T. is a major supplier of recycled axles and tires to the manufactured housing industry, serving 14 western states from its recycling facilities in Idaho and California. …
MHProNews has learned from the National Association of Home Builders (NAHB) reports that production of single-family homes and apartments rose in November 9.3 percent to a seasonally-adjusted annual rate of 685,000 units, the highest pace since October 2008. The primary impetus from the increase came from the multifamily sector which …
Multifamily Building Outpaces Single-family Home Construction Read More
MHProNews has learned that theMHARR Board officials and staff met on December 14, 2011 with Government National Mortgage Association (GNMA) President Theodore W. Tozer to discuss the securitization requirements that have limited FHA (Federal Housing Administration) Title I manufactured housing loans. Currently, GNMA requires a minimum net worth of $10 …
MHProNews has learned from the National Association of Home Builders (NAHB) that builder confidence in the market for new, single-family homes rose for the third month in a row. This marks the first time that has happened since mid-2009, bringing the NAHB/Wells Fargo Housing Market Index (HMI) to 21, its …
In a follow-up to a story we last reported on Nov. 2, 2011, IslandPacket reports from Bluffton, South Carolina, the six modular homes designated as affordable housing are nearing completion and should be available for prospective homebuyers to tour the new homes in January. Twenty applications have been received from …
CNNMoney reports the Dow Jones Industrial Average dropped steadily during the trading day as investors continue to fear the impact of the Eurozone debt crisis on the global banking market. The Dow fell -100.13 points, -0.84 percent, to close at 11,766.26. The Yahoo! Finance Manufactured Housing Composite Value lost 2.10 …
Euro Debt Crisis Looms over Dow as MH Composite Drops Read More
Following up on a story from Dec. 6, 2011, Daily-Times reports from Farmington, New Mexico, the San Juan County Commissioners passed an ordinance requiring new MHC and RV developments to have their waste systems approved by the New Mexico Environment Department (NMED). Dennis McQuillan, Liquid Waste Manager with NMED, says …
MHProNews has learned from PR Newswire that New Jersey-based UMH Properties, Inc., has acquired City View manufactured housing community in Lewiston, Pennsylvania, for $750,000. The 59 home site community is situated on 22 acres in south central PA. Samuel A. Landy, President, stated, “We are pleased to announce the acquisition …
ThePostandCourier tells MHProNews the Southern Palms MHC in Ladson, South Carolina, just north of Charleston is promoting Cottage homes of 1,056 to 1,400 square feet for vacationers and those seeking smaller dwellings. Owned by Jensen Communities of Connecticut, which operates 30 MHCs in eight states, the age 55-plus community offers …
A report from MHI in Washington reveals that with partisan tensions easing, congressional negotiators are closer to a year-end deal that would address a range of expiring programs, from the Social Security payroll tax cut that has benefitted approximately 160 million workers, to long-term unemployment benefits, and Medicare payments to …
The Dow ended flat today, with the S&P and Nasdaq rising modestly. The Yahoo Finance Manufactured Housing Value however was off by more than five and a half percent. The day did have its gainers. Affiliated Managers Group closed up $1.08 (1.19 percent) to close at $91.53. Drew Industries closed …
MHProNews.com has learned the U.S. Department of Housing and Urban Development (HUD) has issued an announcement asking for nominations, with approval of the Secretary, to serve on the Manufactured Housing Consensus Committee. Consensus Committee members serve for a three-year term up to two terms. The 21 voting members are appointed …
MarketWatch reports real estate investment trust (REIT) Sun Communities, Inc., announced its board of directors declared a dividend of $0.63 a share for the fourth quarter 2011. Payable Jan. 20, 2012, Sun has 21.8 million shares outstanding. The company owns and operates 156 manufactured housing communities with 54,000 sites. The …
Origination News says a bi-partisan Congressional effort to increase the guarantee fees, or “g-fees,” that Fannie Mae and Freddie Mac charge lenders will level the playing field so private lenders can return to the mortgage market. “Private secondary market investors are starving for yield, and raising the g-fees to a …
CNNMoney reports claims for jobless benefits fell to a three-year low, inching the Dow Jones Industrial Average up 45.33 points, +0.39 percent, to close at 11,868.81. Continuing fears about the Eurodebt crisis kept the Dow from advancing further. The Yahoo! Finance Manufactured Housing Composite Value gained nearly the same percentage, …
Dow Edges Up; Skyline, UFPI most Active of Tracked Stocks Read More
Mlive reports a blueberry farmer wants a special permit to house 17 migrant laborers in an 1,820 square foot modular home in Port Sheldon Township in Ottawa County, Michigan. Opponents say it will hurt property values and increase the risk of crime. Someone anonymously distributed fliers in the area that …
