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 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
Cavco CEO and Manufactured Housing Institute (MHI) Chairman Joe Stegmayer’s exclusive statement to MHProNews.com last week sent the clear signal that no rapid appointment for a replacement to former MHI President Thayer Long should be expected. His message was underscored in a conference call with the Manufactured Housing Executive Committee
Stegmayer’s Statement Suggests Slow Dance to Replace Long Read More
CNNMoney reports that the Dow is back in negative territory for the year, with the market closing at 11,493.72 -53.59 (-0.46%) and a year-to-Date decline of -0.72%. Yahoo! Finance’s Manufactured Housing Composite value also declined, closing at 789.90 or a drop of -2.92%. Affiliated Managers Group 85.56 -0.86 (-1.00%). Clayton
Dow back in the Red, but MH markets not Dead Read More
CullmanSense reports that Gary “Burr-head” Don Allcorn, 57, of Addison, AL passed away on November 21, 2011 in Birmingham. Allcorn was born on August 31, 1954 in Addison. He attended Addison High School. He worked for Cavalier Homes, and most recently for Southern Energy Homes for the last 5 years. He is
“Burr-head” dies, funeral planned for Industry veteran Read More
In a follow up to a story previously reported on MHProNews, ColumbiaMissourian reports that Columbia Regency mobile home park rezoning passed by a 5-2 vote of Columbia City Council. The Churchill Group expressed public interest last September in acquiring the property and redeveloping the location with 330 apartments for students
Resident protests doesn’t stop manufactured home community closure vote Read More
WashingtonPost reports that the Prince Williams County, VA Board of Zoning Appeals reversed and rebuked a county decision to ban replacement of “mobile homes” in Holly Acres. Holly Acres Mobile Home park was effectively closed and many homes were ordered demolished in the wake of flooding from Tropical Storm Lee
Zoning board reversal allows mobile homes to be replaced Read More
RecordNet reports on the first net zero development in Stockton California, which will consist of 22 modular homes built by Visionary Home Builders. California law has set the goal for all new home construction to be net zero by 2020, with commercial construction to achieve net zero by 2030. Nonprofit
Visionary Builder says The Future is Now Read More
In a follow up report on a prior story in MHProNews, CourthouseNews reports that Congressman Mo Brooks of Alabama stated his position against undocumented immigrants by saying “As your congressman, on the House floor, I will do anything short of shooting them.” This statement is part of the rallying cry
Congressman says: “I will do anything short of shooting them” Read More
FinancialNewsNetwork reports Cavco Industries has the second lowest enterprise value to EBITDA (EV/EBITDA) ratio in the homebuilding industry. This formula is valuable in measuring comparable companies, and the lower the ratio the more the company is undervalued. Cavco has a ratio of 29.70, well above NVR’s 10.48, but below DR
Cavco Shares Movin’ On Up Read More
HousingWire reports John Burns Real Estate Consulting says the excess housing vacancy level reached 3.2 million dwellings in 2009, and has fallen to 2.4 million units, but that will take 3-4 years to occupy. Despite the push by government and industry for more loan modifications, John Burns shows 72 percent
Housing Consultant: Recovery Three Years Out Read More
CNNMoney reports the Dow Jones Industrial Average dropped sharply as investors worry that the European debt crisis may yet sail west to U.S. shores, falling 248.85 points to 11547.31, a loss of 2.11 percent. The Yahoo! Finance Manufactured Housing Composite Value followed the path, losing -3.43 percent to close at
Euro Debt Crisis Sailing West? Dow Falls, but UFP, Inc. did the Best Read More
LogCabinDemocrat reports Kevin Hawks, recently honored for twenty years of membership in the Arkansas Manufactured Housing Association (AMHA), was re-elected to the AMHA’s Board of Directors at the organization’s 40th annual meeting recently. Board leadership positions include: Lloyd Watson of Roy Borden Agency in Little Rock, Chairman; Sherman Price, Price
Arkansas MHA Chooses Board Read More
JoplinGlobe reports since the devastating tornado of May 22 took out one third of Joplin, Missouri’s housing, as of Nov. 16, 559 households are being served through the Federal Emergency Management Agency (FEMA). This includes the 24 acres of meadowland sited with 375 Federal Emergency Management Agency (FEMA) manufactured homes,
Joplin Housing Tornado Survivors, Rebuilding Homes Read More
TheMotleyFool uses the financials of Universal Forest Products, Inc. to demonstrate one measuring device that can be used to analyze the future value of an investment: Following trends in AR (accounts receivable) and DSO (number of days worth of sales owed the company). Problems with ARs and DSOs can spell
Sizing Up Universal Forest Products? Read More
CNNMoney reports the Dow Jones Industrial Average chopped up and down all day today as investors kept their finger on the European pulse while observing the debt committee. The Dow inched up 25.43 points, or +0.22 percent, to close at 11,796.16. The Yahoo! Finance Manufactured Housing Composite Value fell 1.85
After Choppy Day, Dow Gains 25 Points; Likewise, Housing Stocks Move Little Read More
GreenProphet reports that students at the American University in Cairo, Egypt, have designed a solar powered modular home to compete in the Solar Decathlon next year. However, the upheaval of the Arab Spring has led to new leadership in Egypt, and funding to enter the competition next fall in Spain
Modular is Afoot in Egyptian University Read More
HousingWire reports a bill reinstalling higher conforming loan limits for the Federal Housing Administration (FHA) was singed into law Friday morning, Nov. 18, by President Obama. Both the House and Senate had passed the bill by over a two-thirds majority on Thursday. The FHA can now insure loans up to
Pres. Obama Signs FHA Bill to Raise Loan Limits Read More
Curbed reports from Brooklyn’s Atlantic Yards that Forest City Ratner is finalizing plans to build the world’s largest modular housing unit, divided between affordable rental housing and market rate rentals. The 32-story tower, the first of three residential edifices built in this development that will include a professional basketball arena
If Ratner Quells Labor, Finds Financing, Modular Housing will Rise Read More
TheTandD reports from South Carolina the Orangeburg County Planning Commission has finalized zoning plans that would allow single-section manufactured homes to be sited in an area already populated by site-built and sectional manufactured homes. During their November meeting the commissioners approved the creation of the RS-2 Single-family/Manufactured Home District. According
Economic Woes Lead to MH Zoning Change Read More
CNNMoney reports the Dow Jones Industrial Average fell as investors worry that the European debt crisis may spread to other large European economies, dropping 134.86 points, 1.13 percent, to close at 11,770.73. The Yahoo! Finance Manufactured Housing Composite Value followed suit, losing -1.90 percent to close at 858.60. Many tracked
Dow Dips, Palm Harbor Trips, Patrick Pleases Read More
