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.
NationalMortgageNews states the robo-signing scandal has led to such a tight pipeline in the foreclosure process that only 10,000 a month are being processed by FHA (Federal Housing Authority)-approved servicers, but that will clear as the agency pays for a surge on defaulted loans. FHA paid $14.9 billion in fiscal […]
Bailout Net to Catch FHA? Read More
The Manufactured Housing Association for Regulatory Reform (MHARR) participated in the House of Representatives Financial Services Committee’s field hearing on “The State of Manufactured Housing” held in Danville, VA Nov. 29, 2011, submitting written testimony on the need for congressional oversight of the Housing and Urban Development (HUD)’s manufactured housing
MHARR Pans Field Hearing: HUD is the Bigger Hurdle Read More
RealtorMag reports the inventory of homes for sale fell to its lowest level in four years in October, according to data from Multiple Listing Service (MLS). Zelman and Associates says many sellers are taking their homes off the market because they are receiving low-ball bids, and banks are in no
Inventory of For Sale Homes Falls Read More
CNNMoney reports the Dow Jones Industrial Average surged upwards nearly 500 points, cresting the 12,000 mark, following the Federal Reserve’s announcement that it will work with other central banks to boost the global economy. The Dow closed at 12,045.68, gaining 4.24 percent, up 490.05 points. The Yahoo! Finance Manufactured Housing
“Wow” Went the Dow! Skyline Corp. Reached High Too! Read More
NYDailyNews reports Warren Buffett, who once said U.S. newspapers are not good investments, has changed his mind about his hometown paper. The last employee-owned major newspaper in the country, Buffett says the Omaha World-Herald “delivers solid profits and is one of the best run newspapers in America. The editorial independence
Buffett Makes News by Buying It Read More
CanadaNewswire reports Killam Properties, Inc., of Halifax, Nova Scotia, Canada has closed its public share offering of 3,256,000 shares at $10.75 per share, resulting in gross proceeds of $35 million. Killam intends to use the proceeds for future acquisitions, to pay off indebtedness, and general corporate expenses. The underwrites are
Canada’s Killam Closes Public Offering Read More
In a follow-up to a story we wrote Nov. 28, 2011, the DecaturDaily in Alabama reports a federal judge’s temporary restraining order prohibits county officials from verifying the residency status of persons applying for a MH license. Morgan County License Commissioner Sue Baker Roan said she processed 341 applications Nov.
MH Decal Applicants Deluge Alabama County Read More
At the “State of the Manufactured Housing Industry” Congressional Field Hearings in Danville, Virginia, Nov. 29, members of the House Congressional Subcommittee on Housing, Insurance, and Community Opportunity heard from a variety of persons in the MH arena. Henry Czauski, Acting Deputy Administrator for the Office of Manufactured Housing programs,
MH Field Hearing Yields HUD, MHI, Industry, and Resident Viewpoints Read More
RetirementPlannings reports that Universal Forest Products, Inc. (NASDAQ: UFPI) is in a downward trend pattern. Universal Forest Products, Inc. is a holding company. The Company provides capital, management and administrative resources to subsidiaries that design, manufacture and market wood and wood-alternative products for do-it-yourself (DIY)/retail home centers and other retailers,
RetirementPlanners dis-UFPI stock in recent report Read More
MiamiHerald and MiamiNewsTimes reports that a landlordwas arrested for ramming a front end loader into an occupied rental home. Miller had rented the mobile home to Michelle Valdez, age 23, her brother, sister and law and Valdez’s three children. Valdez was current on her payments, but according to reports, had
Community owner arrested for using front loader to evict residents Read More
CNNMoney reports that the Dow edged higher today, continuing Monday’s rally. The modest just-over-a-quarter percentage point gain came amid concerns that a French credit downgrade could harm the ‘save the Euro’ efforts in play. The Dow closed at 11,555.63 +32.62 (+0.28%), down year to date -0.19%. The Yahoo! Financial Manufactured
Dow rises, Manufactured Housing nudges higher too Read More
MHProNews has learned that Vermont’s Lt. Governor Phil Scott and Secretary of Commerce and Community Development Lawrence Miller project for de-commissioning Irene damaged ‘mobile homes’ and replacing them with new manufactured homes has made significant progress. In a press release, the Lt. Governor’s office said “In our work so far,
Lt. Governor’s task force supervises removal of Irene damaged mobile homes Read More
MSN reports that the National Association of Realtors (NAR) spent 6.1 million dollars in the 3’d quarter of 2011 in federal lobbying efforts. This is down from 7.1 million spent in the 2nd quarter, but up from the 4.5 million spent by the group in the 3’d quarter of 2010.
NAR quarterly lobbying blows away manufactured housing lobby funding Read More
SunTimes reports that Myrtle Beach, South Carolina (SC) will soon be providing 3 new modular homes in an affordable housing project made using federal funds for neighborhood stabilization. Each house is about 1,100 square feet and each has a front porch that adds about 150 square feet. The homes feature
Modulars used in new affordable housing project Read More
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
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
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
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
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
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
