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.
The Independent Mail states the Stephens County commissioners in Toccoa, Georgia, are altering an ordinance to allow pre-owned manufactured homes to be moved into the county, or within the county, based on health and safety, not age or appearance. This change will put the county in line with state regulations. …
Origination News says under a new home-buyers incentive program by Fifth Third Mortgage Co. of Cincinnati, Ohio, borrowers can have a reduced rate on their purchase money mortgage. They can choose to have their basis points lowered by 12.5 basis points over the life of the loan, or by 100 …
Creative Incentives Offered to Attract Home Buyers Read More
The Dow gained 44.73 points on news of Federal Reserve Chairman Ben Bernanke’s offer to provide additional stimulus to the economy, while housing stocks closed mixed. The Dow closed at 12,491.61, while the Manufactured Housing Composite gained .71 percent to close at 1122.10. Skyline Corporation gained 3.50 percent, and MSCI …
Dow Gains Modestly on Bernanke’s News, while Housing Stocks Close Mixed Read More
Yahoo Finance reports that Killam Properties, Inc., of Halifax Nova Scotia, Canada, will release its second quarter 2011 financials for the quarter ending June 30, 2011, on Wednesday, August 3, 2011 after the market closes. The 2011 Allen Report lists Killam as the 17th largest land lease community (LLC) in …
HousingWire reports the Consumer Financial Protection Bureau (CFPB) will consult with small businesses the next few months to discuss mortgage disclosure forms and review rules under the Truth-in-Lending Act (TILA) that deal with mortgages. The bureau has 100 employees ready for the July 21 launch of the CFPB. The agency …
Market Watch reports from Warsaw, Indiana, that Brian J. Smith, Co-CEO of Heritage Financial Group in Elkhart, IN has been appointed to the Boards of Directors of Lakeland Financial Corporation and Lake City Bank. Trained as a Certified Public Accountant (CPA), Smith has been Co-CEO of Heritage since 2000, and …
CoStar Group reports Equity Lifestyle Properties (ELS) (NYSE:ELS) has closed on 35 of the 76 manufactured home communities it is acquiring from Hometown America LLC. These 35 properties represent 12,057 sites in seven states including Florida, Arizona and Michigan. This $451 million purchase is part of a larger $1.43 billion …
ELS Closes on 12,057 of Hometown’s 31,167 Home Sites Read More
Newswise says the Virginia Tobacco Indemnification Commission and Community Revitalization Commission has awarded a $2,445,000 grant to the University of Virginia (U.Va.) to design, develop and manufacture affordable, energy-efficient and disaster-recovery housing. The focus will be on economic revitalization in formerly tobacco-dependent communities by creating 50 jobs in state-of-the-art facilities …
Academia, Industry Collaborate to Build Sustainable Modular Homes Read More
In a communiqué to MHMSM.com, Mary Gaiski, Executive Vice-president of the Pennsylvania Manufactured Housing Association (PMHA), announces the following board members who will return for an additional two-year term, and their positions: Sean Dalton, Insurance Director; Tracy Kirby, HUD Manufacturer Director; Mark Bowman, Modular Manufacturer Director; John Fanelli, Southwestern District …
The Dow dropped 58.88 points Tuesday to close at 12,446.88 upon troubling news from Ireland’s economy, as several housing stocks posted gains. The Manufactured Housing Composite gained 2.19 percent to close at 1114.20. Skyline Corporation gained 4.68 percent, Cavco Industries was up 1.68 percent, Palm Harbor Homes finished up 2.44 …
Problems in Europe Continue to Dog Dow, as Housing Stocks Close Mixed Read More
MHMSM.com today received from Thayer Long, Executive Director of the Manufactured Housing Institute (MHI), that association’s position paper on a critical Industry subject. In noting the impact of the Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank) on manufactured housing, MHI says the unintended consequences of the bill …
Reverse Mortgage Daily says the Federal Housing Administration (FHA) is getting its second consecutive acting commissioner since April. President Obama has named Carol Galante to replace Robert Ryan as head of the agency, effective immediately. Galante has a Master of City Planning degree from the University of California Berkeley, and …
The Pakistan Observer in Islamabad notes that home construction prices are so great that people should consider a modular home. The prices of steel, diesel fuel, coal, cement and wages have all increased, making it difficult for a middle class family to build a home. In addition, the government has …
HousingWire reports for the first time since the housing tax credits ended in June 2010 that home sales have spiked in Southern California. San Diego-based DataQuick says June over May 2011 sales increased 11.6 percent, but still 14 percent below June 2010 for this populous six county area. June is …
Southern California Housing Market Slowly Improving Read More
Switchboard says the modular Katrina Cottages that were built for survivors of that deadly hurricane are now being used as offices, educational facilities and affordable housing. The article, published in the newsletter of the National Resources Defense Council (NRDC), says one developer is using 12 of them in Buena Vista, …
The Sun Sentinel reports from southern Florida that a land lease community on tribal land the Seminole Indians forcibly took over in July 2008 has been returned to owner Hollywood Mobile Estates. The tribe had seized the 2,000-resident community alleging lease violations by the owners, and had twice refused the …
The Dow stumbled on fears about Italy’s economy, sending it tumbling 1.20 percent, as several housing stocks also tumbled. The Manufactured Housing composite dropped 4.74 percent to close at 1090.40. Palm Harbor Homes gained 20.59 percent, and ELS moved up .18 percent. Skyline Corporation fell 6.22 percent, Cavco Industries dropped …
The Press Democrat in California reports HybridCore Homes of Santa Rosa, California, is collaborating with Champion Homes of Troy, Michigan, to build demonstration homes in Washington, D.C., and in North Dakota. These two areas were chosen because of new home construction currently in progress. HybridCore’s demo home displayed last fall …
Is it Modular, or Manufactured, or a True Hybrid??? Read More
HousingWire says foreclosure sales fell seven percent in May from the previous month to 68,000, the second straight month that figure has declined, according to the Hope Now consortium of lenders, counselors and insurers. Approximately 2.67 million mortgages stayed in 60-day delinquency in May, an increase of one percent over …
Foreclosure Sales Fall in May, but Foreclosures Initiated Rise Read More
MortgageOrb says the U. S. Treasury Department has revised incentive payments to mortgage servicers under the Home Affordable Modification Program (HAMP). The new directive calls for a sliding scale form of payment that will be instituted October 1. The later in delinquency a loan enters the program, the less the …
