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.

Obama Administration and ACORN Housing accused of misuse of funds and corruption

By / November 29, 2011 / Manufactured and Modular Housing News

WashingtonTimes reports author/editor Matthew Vadum has accused the Obama administration of “new evidence of corruption” involving an affiliate of ACORN (Association of Community Organizations for Reform Now). Cause of Action – a watchdog group – pressed NeighborWorks America, a taxpayer-funded federal nonprofit that funneled more than $26.5 million in federal …

Obama Administration and ACORN Housing accused of misuse of funds and corruption Read More

Lexington man Sentenced in Federal Fraud case

By / November 29, 2011 / Manufactured and Modular Housing News

MHProNews has learned that 32 year old Robert C. Sasser of Lexington, South Carolina was sentenced in federal court on November 28th for wire fraud. In a case handled by U.S. Attorney Winston D. Holliday, Jr., United States District Judge Margaret B. Seymour sentenced Sasser to three years’ imprisonment and …

Lexington man Sentenced in Federal Fraud case Read More

Debt Drops, Says Fed; Credit Demand Rises

By / December 3, 2011 / Business, Economy, Finance, home buyers, Manufactured and Modular Housing News, People, Trends

HousingWire reports the New York Federal Reserve says consumer indebtedness fell by 0.6 percent in the third quarter as mortgage balances and credit card limits continued declining. Total consumer debt dropped from $11.72 trillion in Q2 to $11.66 trillion the quarter recently ended. Bankruptcies fell 18.8 percent from Q3 2010, …

Debt Drops, Says Fed; Credit Demand Rises Read More

Dow Rises Nicely, Most Tracked Housing Follows

By / December 3, 2011 / Business, Manufactured and Modular Housing News, news-at-noon, Stocks

CNNMoney reports the Dow Jones Industrial Average spiked 291.23 points on good news of Black Friday sales, and encouraging news about the European debt crisis. The Dow closed 11,523.01, a gain of 2.59 percent. The Yahoo! Finance Manufactured Housing Composite Value gained 2.63 percent to close at 736. Most tracked …

Dow Rises Nicely, Most Tracked Housing Follows Read More

New Home Sales Edge Up

By / December 3, 2011 / Economy, home buyers, Manufactured and Modular Housing News, Trends

The National Association of Home Builders (NAHB) reports the U.S. Department of Commerce says sales of new, single-family homes increased 1.3 percent in October, marking the best monthly sales pace since May, 2011. “Today’s report is right in line with our forecast for modest and gradual improvement in sales activity …

New Home Sales Edge Up Read More

MH Congressional Friend not Seeking Re-election

By / December 3, 2011 / Advocacy, home buyers, Manufactured and Modular Housing News, Manufactured Homes, People

The Manufactured Housing Association for Regulatory Reform (MHARR) reports U.S. House of Representative member Barney Frank (D-Mass) has decided to not seek re-election after serving 32 years in Congress. MHARR’s communique says, “Our industry is losing a loyal congressional ally who worked across the aisle to champion the Federal Manufactured …

MH Congressional Friend not Seeking Re-election Read More

Inmates Secure in Modular Steel Cells

By / December 3, 2011 / Business, Company News, Manufactured and Modular Housing News, Modular, People

AccessNorthGa reports from Baldwin, Georgia, that SteelCell of North America offers modular detention units tailor-made for particular applications, whether new construction or made to fit existing prison facilities. SteelCell president and CEO Mike Smith said, “We had a recent jail build in Virginia with 324 cells and had 65 different, …

Inmates Secure in Modular Steel Cells Read More

Alabama Illegal Immigrant Law Leads to Class Action Suit

By / December 3, 2011 / Advocacy, Legal, Legislation, Manufactured and Modular Housing News, Manufactured Homes, People, regulation

In a follow-up to a story from Nov. 25, 2011, TheWetumpkaHerald in Elnore, Alabama, reports a federal lawsuit challenging Alabama’s illegal immigration enforcement act has been filed, naming Elnore County’s Probate Judge Jimmy Stubbs and Revenue Commissioner Julie Magee as defendants. Two illegal immigrants, named John Doe 1 and John …

Alabama Illegal Immigrant Law Leads to Class Action Suit Read More

Mortgage Rates Edge Slightly Week over Week

By / December 3, 2011 / Finance, home buyers, Manufactured and Modular Housing News

CNNMoney reports from Bankrate the 30-year fixed rate mortgage (FRM) dropped 0.01 percent this week over last week (Nov. 14-18) to 4.02 percent. The 15-year FRM also fell 0.01 percent to 3.37 percent during that same period. The 5/1 adjustable rate mortgage (ARM) rose to 2.97 percent from 2.96 percent. …

Mortgage Rates Edge Slightly Week over Week Read More

GSE’s Delinquency Rate Rises Slightly

By / December 3, 2011 / Business, Company News, Finance, home buyers, Manufactured and Modular Housing News, Trends

HousingWire reports Freddie Mac’s seriously-delinquent mortgage rate inched up 0.03 percent in October over Sept. to 3.54 percent. Meanwhile, the multi-family delinquency rate dropped to 0.31 percent from Sept.’s 0.33 percent. The overall mortgage portfolio at the government-sponsored enterprise (GSE) fell at an annualized rate of 5.22 percent last month. …

GSE’s Delinquency Rate Rises Slightly Read More

Sales of Existing Homes Climb in Indianapolis Area

By / November 25, 2011 / Business, Economy, home buyers, Manufactured and Modular Housing News, People, Trends

IndyStar reports existing home sales in Central Indiana rose 13.2 percent in October over the same month last year. The Metropolitan Indianapolis Board of Realtors (MIBOR), which covers a 13 county metro area, said the 1,735 homes sold last month mark the fourth straight month sales have grown. Sales of …

Sales of Existing Homes Climb in Indianapolis Area Read More

Modular Moving in Midwest

By / November 25, 2011 / Business, Company News, Factory-Built Homes, home buyers, Manufactured and Modular Housing News, Modular, People

Omaha reports Rod Tompkins, who operates Heritage Homes in Wayne, Nebraska, in the northeast part of the state, says business is picking up and he plans to add 16 production workers to the current roster of 64. The maker of custom modular homes and apartments says the biggest demand is …

Modular Moving in Midwest Read More

Court Rules Alabama’s MH Permit Law Illegal

By / November 25, 2011 / Advocacy, Factory-Built Homes, Legal, Legislation, Manufactured and Modular Housing News, Manufactured Homes, People, regulation

In a follow-up to our story Nov. 22, USAToday reports from Alabama a federal court struck down parts of Alabama’s HB 56 that forbids illegal immigrants from conducting any business transactions with the state, which would include manufactured housing permits. U.S. Judge Myron Thompson ruled illegal immigrants cannot be denied …

Court Rules Alabama’s MH Permit Law Illegal Read More

MH Shipments Rise in Sept.

By / November 23, 2011 / Business, Economy, Factory-Built Homes, Manufactured and Modular Housing News, Manufactured Homes, Trends

Bloomberg reports the U.S. Census Bureau says Sept. manufactured housing shipments rose to a seasonally adjusted rate of 54,000 units, an increase of 3,000 units over August 2011. Placements fell 3,000 from August, and dealer inventory gained 1,000 units, all seasonally adjusted figures. The average price of a manufactured home …

MH Shipments Rise in Sept. Read More

Dow Drops, Euro Debt Threatens, Chinese Mfg. Lessens

By / November 23, 2011 / Business, Manufactured and Modular Housing News, Stocks

CNNMoney reports the Dow Jones Industrial Average slid again as investors continue to worry about the European debt crisis that only seems to deepen, as well as the drop in Chinese manufacturing numbers. The Dow lost 235.94 points, -2.05 percent, to close at 11,257.78. The Yahoo! Finance Manufactured Housing Composite …

Dow Drops, Euro Debt Threatens, Chinese Mfg. Lessens Read More

Best Dividend Yield: UMH and Sun—Again

By / November 23, 2011 / Manufactured and Modular Housing News

FinancialNewsNetwork reports, in what could be seen as a repeat performance from Sept. 23, 2011, UMH Properties ranks number one in dividend yield in the residential real estate investment trust (REIT) industry with a yield of 7.6 percent, just below the Sept. ranking of 7.7 percent. In second place, as …

Best Dividend Yield: UMH and Sun—Again Read More

MH Industry’s Call to FHA and HUD

By / November 23, 2011 / Advocacy, Economy, Legislation, Manufactured and Modular Housing News, Manufactured Homes, People, regulation

The Manufactured Housing Association for Regulatory Reform (MHARR) and the Manufactured Housing Institute, acting jointly as the Coalition to Advance Manufactured Housing (Coalition), held a 30-minute follow-up conference call Nov. 22, 2011 with Federal Housing Authority (FHA) Commissioner Carole Galante, and Housing and Urban Development’s program manager, Henry Czauski, to …

MH Industry’s Call to FHA and HUD Read More

Fed Prepared to Act Again?

By / November 23, 2011 / Advocacy, Business, Economy, Finance, Manufactured and Modular Housing News, People

HousingWire reports the Federal Reserve says the ongoing tepid housing market continues to suppress economic recovery. Minutes from the Nov. 1-2 meeting of the Federal Open Market Committee (FOMC) suggest more “policy accommodation” may be needed to spur the economy.Tight credit, lack of new household formation, and depressed job and …

Fed Prepared to Act Again? Read More

OCC Oversees Mortgage Servicing Review

By / November 23, 2011 / Advocacy, Company News, Economy, Finance, home buyers, Legal, Manufactured and Modular Housing News, regulation

NationalMortgageNews reports the Office of the Comptroller of the Currency (OCC) says the 12 national banks under regulatory orders to reform their mortgage servicing and foreclosure methods are making progress. Having agreed to the review in April, the banks have streamlined procedures for guiding struggling homeowners through the loan modification …

OCC Oversees Mortgage Servicing Review Read More

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