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.
TheTimesandDemocrat in South Carolina reports the law has finally caught up with Ifrom Colter for allegedly bilking numerous people out of thousands of dollars for manufactured homes that were never delivered. Arrested in Orangeburg County on five counts of breach of trust, authorities know of $65,000 he has alleged to […]
Curtain Falls on Bad Actor Read More
NationalMortgageNews reports the Senate Banking Committee wants to know why government sponsored enterprise (GSE) executives are receiving millions of dollars in bonuses while the government is keeping the mortgage giants afloat. Since the Federal Housing Finance Agency (FHFA) took over the GSEs in Sept. 2008, the FHFA has propped them
GSE Execs Get Bonuses; Senate Chagrined Read More
CNNMoney reports that the Euro/Greek economic and political drama continues to impact U.S. markets, as revelations across the Atlantic often move the Dow, up, down and all around as they did today. The Dow closed down at 11,983.24, -61.23 (-0.51%). The Yahoo! Finance Manufactured Housing Composite Value also slid less
Up, Down and Around the Dow Goes, MH stocks follows Read More
MarketWatch reports that Champion Homes, Inc. has developed a marketing tool that will enable potential buyers to view different options on a manufactured or modular home by clicking on to Champion’s website. DiVE IN (Design Interactive Viewing Experience) offers a “virtual tour” of different floor plans, kitchen layouts, flexible spaces,
Champion Develops New Internet Marketing Tool Read More
JoplinGlobe reports Federal Emergency Management Agency (FEMA) Chief William Fugate returned to Joplin for the first time since the five days he spent following the EF-5 twister that leveled a central city area May 22. The area has received $181.5 million in FEMA assistance for housing and temporary schools, fire
FEMA Chief Returns to Joplin Read More
EnterpriseNews reports from Massachusetts that Hometown America of Chicago has purchased Oak Point MHC in Middleboro, MA for $55 million, making it the largest real estate transaction in Middleboro history. The 1,000 acre 875 homesite community has homes clustered in neighborhoods, and includes a ballroom, exercise facility, and club house.
Hometown America Adds A Thousand Acres Read More
TheGazette reports from Iowa City, Iowa, that Regency Mobile Home Park in Johnson County has been the target of complaints in recent years for poor water quality, abandoned homes, and charges of fraud. Johnson County does not have jurisdiction over enforcing improvements to the 230 homesite community; its board of
Iowa Regency: Fit for a King? Not. Not Yet Read More
CNNMoney reports that the Dow closed up at 12,044.47 +208.43 (+1.76%), on news that the Europeans Central Bank announced its first rate cut in two years. The Yahoo! Finance Manufactured Housing Composite Value rose to close at 869.7 +4.26%. Affiliated Managers Group 94.30 +2.68 (+2.93%). Clayton Homes, Vanderbilt Mortgage and
Manufactured Housing Stocks outperforms Dow on up day Read More
MHProNews.com has learned about another case of what seems to be a local town overstepping their jurisdiction’s authority. WSBTV in Georgia reports on a story at Mountain Park George, in North Fulton County, where an effort is being made to pass a local law that bans ‘mobile homes.’ The video
Georgia town attempting to violate federal law? Read More
CNSNews reports on a story worth fact checking. They allege that it takes businesses 10.2 million man hours a year by to comply with Dodd-Frank Regulations. They compared this with the 5.5 million man hours needed to manufacture “every iPhone out there.” The regulatory burden is costing Americans jobs and reducing
Does Dodd-Frank Compliance take more than 10 million man hours a year? Read More
MortgageDaily reports that Roger Dean Bailey, Jr. plead guilty in a North Carolina federal district court to five counts of defrauding dozens who sought to finance manufactured home loans. The 38 year old Bailey plead guilty to one count of conspiracy to commit wire fraud and making false statements to the
16 Million crime didn’t pay; HUD MH Fraud case ends in guilty plea Read More
MHProNews.com learned that UMH has recently announced it has closed on the acquisition of Clinton Mobile Home Resort, a 116-site manufactured home community situated on 24 acres, located in the City of Tiffin, County of Seneca, in the State of Ohio, for a purchase price of $3,450,000. UMH is a
UMH Properties, Inc. Announces New Acquisition Read More
MHProNews.com has learned that Drew Industries, Inc. – a supplier of components to the manufactured housing and recreational vehicle industries – has released it’s third quarter results. Revenue rose 13.6 percent to $166.7 million from $146.8 million. Sales of RV components rose 12 percent to $136 million, while manufactured housing
Drew third quarter results posted Read More
CNNMoney reports the Dow Jones Industrial Average climbed 178.08 points during the day, following two days of decline, gaining 1.53 percent to close at 11,836.04. The Yahoo! Finance Manufactured Housing Composite Value gained 4.75 percent, over three times more than the Dow, to close at 834.20. Tracked housing stocks closed
Dow Snaps Back, UMH Spikes, Tracked Housing Mixed Read More
SavannahNow reports the first of six modular homes that comprise the Wharf Street affordable housing project in Bluffton, South Carolina, just west of Hilton Head, is set to arrive this week. General contractor Beaufort Construction, Inc., has been building the foundations while the houses are being manufactured by Crestline Custom
Affordable Modular Housing Hits Bluffton, SC Read More
MyDesert reports the legal division of the California Department of Housing and Community Development says Desert Hot Springs violated state law when it attempted to impose impact fees amounting to over $500,000 on the owners of Palm View Estates MHC. The city had assessed Palm View $7,000 for each manufactured
City Imposes Unauthorized Fees on MHC Read More
LivingstonDaily reports from Michigan the owner of a land lease community (LLC) does not want her property master-planned as a future MHC. Renee MacRitchie, the owner of Songbird Acres, says the designation will decrease the value of her property and neighboring properties as well. According to Putnam Township Supervisor Ron
MHC Owner: “Don’t Tread on Me” Read More
The ColumbiaMissourian reports the Columbia Regency Mobile Home Park has notified residents the community will close Feb. 29, following the owners request to rezone the property for apartments. Aspen Heights, which submitted plans for the apartments, says it will buy the property from Regency of Missouri only if the land
Student Housing Developer wants Missouri MHC Read More
UticaObserverDispatch in New York reports the site of the former Lincoln School in West Utica will be home to seven modular homes for first time buyers with low-to-moderate incomes. The Monday groundbreaking for the $1.5 million project by Rebuild Mohawk Valley will result in a more stable neighborhood, increased property
Modular Homes to Stabilize Neighborhood Read More
CNNMoney reports that stocks nose-dived as word that the EU/Greek bail out may fall apart, and slowly recovered later in the day. The Dow closed off -297.05 (-2.48), to close at 11,657.96. The Yahoo! Finance’s Manufactured Housing Composite value dropped twice as hard, closing at 797.2 (-5.13%). Affiliated Managers Group
Dow Takes the Plunge, MH Suffers Grunge Times Two Read More
