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.
PR-USA tells MHProNews.com that UMH Properties, Inc., of Freehold, New Jersey, took out a $11.4 million mortgage loan with Bank of America to refinance two manufactured housing communities in Ohio and Tennessee. At a fixed all-in rate of 4.39 percent, monthly principal payments will be $26,113. Payoff date is Feb. […]
BOA Loans UMH $$ to Refinance MHCs Read More
The National Association of Home Builders (NAHB)/First American Improving Markets Index (IMI) identifies metro areas that have shown improvement in housing permits, employment, and house prices for six consecutive months. MHProNews.com has learned the Housing markets that meet this criteria expanded by 29 for Feb. to 98, and include some
NAHB’s Improving Market Index Grows by 29 Metro Areas Read More
MHProNews.com has learned from PHH Mortgage that retired chairman of the Philadelphia Federal Reserve Bank Charles Pizzi has joined the PHH board of directors. According to HousingWire, despite trying to recover from $423 million in debt, the company closed on $36.3 billion mortgages through Q3, 2011, an increase of 19
Is This the Revolving Door Our Parents Warned Us About? Read More
In response to continued waiting for the Greek government to come up with a plan to avert defaulting on its debt, CNNMoney tells MHProNews.com the Dow Jones Industrial Average nudged down -0.13 percent, 17.1 points, before closing at 12,845.31. The Nasdaq dropped the same percent, -0.13, while the S&P slid
Dow Drops, Deer Valley and Nobility Homes Deliver Read More
HousingWire tells MHProNews.com that 39 Republican senators filed an amicus brief with the court challenging Pres. Obama’s recess appointment of Richard Cordray to head the Consumer Financial Protection Bureau (CFPB). Republicans believed Cordray was qualified for the job, but they wanted a five-member panel to run the agency, veto power,
Cordray’s Appointment Challenged in Court Read More
GlobeandMail of Toronto tells MHProNews.com the economic recovery in the U.S. is beginning without help from the housing market. Recovery from economic slumps going back decades meant the real estate market pulled everyone else along, according to columnist Brian Milder. Karl Case, who co-developed the S&P Case/Shiller Index that tracks
Economic Recovery without the Housing Market? Read More
Joe Kelly of the Iowa Manufactured Housing Association tells MHProNews.com HSB 593 would create a manufactured housing program fund to assist consumers with buying MH, especially if they are moving into land lease communities (LLC). Supported by Gov. Terry Branstad and leaders in the legislature, the bill authorizes the revolving
Bill Would Provide State Funding for MH Read More
Manuel Santana, director of engineering for Cavco Industries, told a congressional subcommittee HUD’s negligence in implementing the Manufactured Housing Improvement Act of 2000 has contributed to the industry’s 80 percent decline in production. In testimony prepared for the House Financial Services Subcommittee on Insurance, Housing and Community Opportunity, he said
Who Said All the Bad Actors are Gone? Read More
MHProNews.com has learned from NationalMortgageNews refinancings have led mortgage companies to add 3,000 employees to their rosters since September. While the U.S. Bureau of Labor Statistics (BLS) says mortgage firms employed 265,000 full time personnel at year’s end, year-over-year employment at mortgage firms actually fell 5.4 percent last year. Of
Statistics Show Slight Improvement in Employment—Maybe Read More
Noozhawk tells MHProNews.com the Santa Barbara County Planning Commission in California is considering an ordinance that would require MHC owners to file for a closure permit if they are selling their community, and to pay all residents market value for their homes. Commissioner C. Michael Cooney says the measure is
Selling your LLC? “Buy All the Homes,” says the County Read More
The Labor Department’s report of 243,000 new jobs in January, and falling unemployment drove all three U.S. market indexes to end the week on a high note. CNNMoney tells MHProNews.com the Dow Jones Industrial Average has gained five percent in 2012, reaching its highest level since 2008, gaining 156.82 points
Mfg. Housing Composite and Cavco Skyrocket over 12 Percent Read More
According to Consumer Reports, York International has re-announced a recall of gas furnaces made for manufactured homes following 393 incident calls since the furnaces were manufactured 1995-2000. 336 of the calls have come in since 2004, when the first recall was announced. Sold under the brand names Coleman, Coleman Evcon,
York International Recalls MH Furnaces—Again! Read More
A new German design for temporary housing utilizes leaf-like panels made of fiber-reinforced polymer that fit together to create a self-supporting modular dome. Inhabitat tells MHProNews.com the panels are translucent, allowing in daylight and spreading light at night. At 1650 lbs. it has a high strength-to-weight ratio, is easily moveable,
Polymer Modular Unit: New Temporary Shelter? Read More
Frontier Communications Corp. of Stamford, Conn. donated $10,000 to the RV/MH Hall of Fame in Elkhart, Ind. according to RVBusiness. A major provider of communications products to northern Indiana consumers, according to Tom McNulty, executive director and president of the museum, the funds will help maintain the financially struggling facility.
RV/MH Hall of Fame gets $$ Boost Read More
AZCentral tells MHJProNews.com that Phoenix-based Cavco Industries, Inc. reported at its earnings webcast Feb. 2 its profits mushroomed compared to last year. Net income for the third quarter 2012 which ended Dec. 31 was $1.68 million, or .24 cents a share, as opposed to $24,000 for the same period a
Cavco’s Earnings Skyrocket Read More
Federal Reserve Chairman Ben Bernanke told Congress full economic recovery may be three years away. Although noting some signs of improvement, his comments elicited speculation that the Fed may stimulate the economy if it deteriorates further. CNNMoney tells MHProNews.com earlier in the day the Dow Jones Industrial Average hit 12,740
Investors Shy Away from Market Following Bernanke’s Caution Read More
Mortgage applications decreased 2.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.9 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the
Fewer Applied for Mortgages Last Week Read More
Stocks closed higher Wednesday with positive data on manufacturing pushing the Dow up more than 100 points mid-day. The Yahoo Finance Manufactured Housing Composite Index ended the day up nearly three percent. Manufactured housing stocks enjoying hump day gains include Allied Management Group, up $2.90 (2.89 percent) to $103.41. Clayton
Stocks Get Boost from Manufacturing Data Read More
Bill Dahlin of the Hart, King & Coldren law firm in California has notified MHProNews.com of its success in finally achieving a rent increase for Brentwood Mobilehome Park in Chula Vista, CA. The San Diego County Superior Court approved a $78.00 a month permanent rent adjustment which the city’s Rent
CA MHC Successfully Challenges Rent Control Read More
KTVUTV in Springfield, Missouri tells MHProNews.com a woman who collected money for the sale of modular and manufactured homes she never delivered has been sentenced to eight years in prison. Convicted in October on seven counts of fraud, Edna Kay Jackson, owner of Dogwood Homes, allegedly swindled eleven Dogwood customers.
Jackson Jailed for MH/Mod Fraud Read More
