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.
As follow-up to a story we have reported on nearly a dozen times since last May (the last time was March 29, 2012), KPBS radio tells us the Oceanside City Council passed an ordinance last year to eliminate rent control on the seventeen MHCs in Oceanside, once the current home […]
CA City: Rent Control to Vacancy Decontrol Read More
OriginationNews notes while some firms earned more in the first quarter of this year than all of last, disbelievers expect originations to fall 20 percent this year. But National Mortgage News and the Quarterly Data Report estimate production will be between 1.3 and 1.4 trillion dollars, comparable to 2011. The
Flat Loan Production This Year? Read More
StateJournal in West Virginia reports Gov. Earl Ray Tomblin authorized tax relief to flood victims of two additional counties, bringing to eleven the number of counties included. The executive order suspends the consumer sales and service tax and the use tax on purchases that would “substantially improve efforts to provide
Tax Relief for MH Flood Victims Read More
According to RealtorMag’s survey of 146 metropolitan areas, MHProNews.com has learned median home prices nationwide rose five percent in March compared to Feb., to $189,900. Only five of the metro areas saw home prices decline including Minneapolis-St. Paul, Columbia, MO and Reading, PA. The areas that witnessed the largest month-over-month
Median Home Prices Rise Read More
SunHerald tells MHProNews.com a New Orleans firm has developed a structural steel-insulated paneled dwelling to house survivors of catastrophes. Designed with 22 solar panels so it can generate its own electricity, and with a water cachement system that can hold 6,000 gallons, the modular home can function independently of disaster-damaged
New Entry in Catastrophic Housing Read More
A slowdown in the Chinese manufacturing sector and news French President Sarkozy placed second in the first round of voting behind an opponent who does not favor European Union austerity measures kept investors along the wall as the Dow Jones Industrial Average dropped 102.97 points, -0.78 percent, to close at
European, Asian News Douses Dow; MH Stocks Follow Down Read More
According to a General Electric (GE) Capital Survey of 495 Chief Financial Officers (CFOs) at firms with annual sales volume of $50 million to one billion, 67 percent are predicting revenue growth and 74 percent anticipate hiring workers this year. BloombergNews tells MHProNews.com 94 percent of the CFOs predict the
Two-thirds of CFOs say Revenue Will Increase this Year. Read More
The Wall Street Journal states Warren Buffett’s announcement of having prostate cancer set the street buzzing with who may be his successor. Financial researchers culled the Oracle of Omaha’s annual letters to shareholders since 1977, some 400,000 words, and determined Ajit Jain, head of Berkshire’s reinsurance division, was mentioned the
And the Successor is…..??? Read More
To comply with the 2010 FEMA (Federal Emergency Management Agency) guidelines declaring Magnolia Village MHC in Yuma, Arizona is in a flood plain, replacement homes for the over-55 residents will have to be elevated four feet. To satisfy the National Flood Insurance Program, homes that will cost more than 50
FEMA: “Canal Could Flood MHC”—Water Co. Employee: “No Way” Read More
NationalMortgageNews tells MHProNews.com the American Bankers Association (ABA) reports delinquency rates fell across all the loan categories the ABA monitors in the fourth quarter of 2011, the first time that has happened since 2004. The ABA defines delinquency as being late 30 or more days. The report notes consumers made
Overall Delinquency Rates Decline Read More
Noting a story we posted April 10, 2012, outlining the Preserving Access to Manufactured Housing Act, the Manufactured Housing Institute (MHI), fresh from its annual National Congress and Expo for Manufactured and Modular Housing in Las Vegas, announces in it’s newsletter the bi-partisan support it has gained for the legislation
Congressional Support Growing for HR 3849 Read More
Business confidence rise in Germany and strong earnings from corporate America was enough to send the Dow Jones Industrial Average up one half a percentage point, +0.65, to end the week at 13,029.19. The Nasdaq lost -0.24 percent to close at 3000.45, while the S&P gained +0.12 percent, to 1378.53.
Mfg. Housing Composite and Dow End Week Upbeat Read More
Regarding another story we covered April 16, 2012 from Mt. Vernon, Illinois concerning a proposed conditional use for siting MH in the town, the city council voted to prohibit manufactured housing from RM2 residential areas. The new ordinance endorses a conditional use provision that allows factory-built homes to be sited
City Ordinance Sets Deadline for Siting MH Read More
Following another story from Sept 23, 2011, residents of problem-besotted Edgeway Mobile Home Park in Middleboro, Massachusetts seek to replace the Town Selectmen with a rent control board to govern the operations of MHCs, according to SouthCoastToday. The license for Edgeway owner Cory Farcas was revoked in 2004 for health
Dissident MHC Residents Want New Government Read More
HousingWire says average weekly mortgage rates barely changed from last week, the Freddie Mac survey showing the average 30-year fixed rate mortgage (FRM) moving little, from 3.88 percent to 3.9 percent this week. MHProNews.com has learned last year the 30-year FRM averaged 4.87 percent. The 15-year FRM also moved little
Mortgage Rates Barely Move Read More
To follow up on our report of United Forest Products, Inc. (UFPI)’s Q1 financials, TheStreetRatings has upgraded the company’s stock UFPI:Nasdaq) from hold to buy. Revenue, sales, net income (up 213.2% Q1 2012 compared to Q1 2011), and net operating cash flow have all increased in one year, and some
From ReporterHerald in north central Colorado MHProNews.com learns the former site of modular home manufacturer Barvista Homes is the new home of PTI Group USA. Taking over a 103,000 square foot building, this producer of modular workforce accommodations for oil field workers is out of Edmonton, Alberta, Canada, but is
Former Mod Mfg. Site Making Mods Again Read More
According to Housing and Urban Development (HUD) Secretary Shaun Donovan, 400,000 HARP (Home Affordable Refinance Program) 2.0 applications have been picked up by five of the largest loan servicers. HARP 2.0 is targeted to underwater borrowers with Fannie Mae and Freddie Mac loans. NationalMortgageNews tells MHProNews.com President Obama has proposed
2.0 HARP Applications Going Fast Read More
Weak U.S. economic data including higher-than-expected unemployment claims and a 2.6 percent drop in existing home sales pushed the Dow Jones Industrial Average down -66.83 points, -0.51 percent, to end day at 12,965.92. As CNNMoney tells MHProNews.com, the Nasdaq lost even more, -0.79 percent to close at 3007.56, while the
34 % MH Revenues Help UFPI Stock as Dow Nudges Down Read More
Noting that current underwriting standards are too restrictive and may be holding back a housing recovery, a combination of 33 private firms and non-profit organizations have signed a letter to Richard Cordray, head of the Consumer Financial Protection Bureau (CFPB), advocating for a broadly defined Qualified Mortgage (QM) policy, termed
Loosen the Purse Strings, Please Read More
