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.
From industry sources reporting to MHMSM.com and Housing Wire, as the Consumer Financial Protection Bureau (CFPB) opened for business July 21 with a budget estimated at $550 million, the debate in and out of Congress continues to rage over the authority one person will have over all mortgages and other …
In a notice titled “Pressure Continues for Federal Sprinkler Standard”, the Manufactured Housing Association for Regulatory Reform (MHARR) reports the Manufactured Housing Consensus Committee’s telephone conference July 20 did not result in any voting. Discussion centered on the the federal sprinkler standard which is still before the Technical Structure and …
The Manufactured Housing Association for Regulatory Reform (MHARR) reports the House Financial Services Committee held a hearing on H.R. 1751 that would require all Housing and Urban Development code (HUD Code) manufactured homes be sold with a weather radio. During the hearing, Rep Barney Frank (D-MA.) proposed the establishment of …
House Committee Seeks Relief for Manufactured Housing Read More
The Dow lost 15.51 points to close at 12,571.91, as investors observed the debt ceiling debate and housing stocks closed mixed. The Manufactured Housing Composite lost 1.03 percent to end the day at 1084. Nobility Homes gained 4.48 percent, Equity Lifestyle Properties was up 2.50 percent, Skyline Corporation added .82 …
Dow Loses a Little Steam as Housing Stocks Close Up and Down. Read More
Yahoo!Finance reports sales of previously occupied homes are at the slowest rate in 14 years, as sales fell in June for the third month in a row, according to the National Association of Realtors (NAR). Economists predict that low home prices and mortgage rates are not enough to attract potential …
The Coshocton Tribune in east central Ohio reports that second half 2011 taxes are due for manufactured homes Friday July 29. Payment may be made at the Coshocton County Treasurer’s office or at the drive-up window. A drop-box is also available at the treasurer’s office for after hours. As long …
The Birmingham News reports the House Financial Services Subcommittee unanimously passed a bill requiring all new manufactured homes to be equipped with a weather alert radio. Rep. Spencer Bachus (R-AL), chairman of the subcommittee, reminded committee members that 100 people in his district died during the April 27 tornado, although …
HousingWire says the Mortgage Bankers Association (MBA) reports its market composite index for the week ending July 15 saw mortgage applications climb 15.5 percent on a seasonally-adjusted basis from the previous week, as refinancing increased. On an unadjusted basis the index rose 44 percent. Of all mortgage applications, refinancing made …
Refinancing Mortgage Applications Increase as Rates Fall Read More
PR Newswire reports that Drew Industries, Inc. (NYSE:DW), acquired certain assets of M-Tec Corporation (M-Tec) through its wholly-owned subsidiary, Lippert Components. A supplier of components to the manufactured housing and RV industry, Drew paid $6 million in cash, and may pay an added $0.6 million depending upon sales levels over …
Business Insider reports the U.S. is on track this year for the lowest number of total housing completions since the Census Bureau started keeping records of completions. In 2005, 1,878,200 single family and multifamily dwellings were added to the nation’s housing stock, including 146,800 manufactured houses. This figure included an …
The Dow registered its largest gain of the year, spiking 201.26 points on news of a pending agreement between President Obama and lawmakers on the debt ceiling. The Dow ended the day at 12,587.42, while the Manufactured Housing Composite gained 4.14 percent to end the day at 1095.30. Skyline Corporation …
National Mortgage News reports the nation’s largest residential mortgage originator saw a decline of 31 percent from the first quarter, funding only $64 billion new home loans in the second quarter 2011. Wells Fargo Home Mortgage non-interest income fell $397 million from the first quarter to $1.6 billion in the …
Mixed News from Largest Residential Mortgage Originator Read More
The National Association of Home Builders (NAHB) says figures released by the U.S. Commerce Department show housing starts for single and multifamily homes increased in June 14.6 percent to a seasonally-adjusted rate of 629,000. Bob Nielsen, chairman of NAHB, called it an encouraging sign, but also noted that lack of …
Origination News says a report by George Washington University’s Center for Real Estate and Urban Analysis suggests changes in the Federal Housing Administration’s (FHA) loan limits proposal. The plan to reduce the high end of (FHA) loan limits will not do much for low-income, first time, and minority buyers. Co-author …
CBCNews of Alberta, Canada, says the Alberta government is sending 350 modular homes to the residents of Slave Lake, Alberta, following the wildfire that devastated half of the town in May. The first homes will go to those who had no insurance or were under insured, according to provincial housing …
Market Watch reports Equity Lifestyle Properties (NYSE:ELS) has released results for the second quarter 2011, and for the past six months. Funds from operations (FFO) for the first quarter equaled $27.3 million, or .73 cents per fully-diluted share, versus last year’s second quarter of FFO of $27.1 million, equaling .76 …
ELS Releases Financials for Q2 2011 and for Six Months Read More
Bartlesville Radio reports that the City Council in Dewey, OK received a request for a zoning variance to put two modular homes on lots in the city. Two people in this northeastern Oklahoma town, including the petitioner, spoke in favor of the variance, and four opposed it. Council members voiced …
The Dow lost 94.57 points to close at 12,385.16 on concerns about the European debt crisis and the U.S. debt ceiling, as several housing stocks closed down. The Manufactured Housing Composite gained .11 percent to end the day at 1052.70. Nobility Homes gained 6.51 percent. Meanwhile, MSCI lost 1.80 percent, …
HousingWire reports that Freddie Mac says its market outlook expects home sales to increase over last year by three to five percent. Freddie downplays the negative aspects of the economy, unemployment and the debt ceiling issues, not a foreboding of worse news. The rental housing market for the first-quarter 2011 …
Freddie Mac Expects Slow but Steady Housing Market Return Read More
The Sacramento Bee says Drew Industries, Inc., (NYSE:DW) will announce its second quarter 2011 results prior to the market’s opening on Monday, Aug 1, 2011. Drew is a manufacturer of doors, windows, chassis, bath units and upholstered furniture for the manufactured housing and RV industry will host a conference call …
Manufactured Home Component Maker to Release Q2 Financials Read More
