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.
National Mortgage News reports the Federal Housing Administration (FHA) is cracking down on lenders it thinks have taken shortcuts, denying claims and even threatening lawsuits. Although much of the action results from the bubble years activity, it is giving pause to those seeking to make new FHA-backed loans. Foreclosure-related claims …
It was brought to our attention by a reader that in a story we reported May 20, we mistakenly identified Carlyle Group, headquartered in Hollywood, California, with The Carlyle Group, a private-equity firm headquartered in Washington, D.C. Carlyle Group, of California, is an asset management firm that manages 5,000 Land …
Following up on a story we published May 5, the North County Times says the Oceanside, California City Council voted 3-2 to reaffirm two earlier votes ending rent control for the residents of the 18 Land Lease Communities in Oceanside. The ordinance would apply only to new occupants of the …
MHC Residents Circulating Petition to Overturn Council Vote Read More
MHMSM has obtained the Notice of Dismissal in Case 10-45772 Doc 178 Filed 05/18/11 Sunset Village Limited Partnership. Sunset Village is a community owned by Capital First Realty, Inc. based in Chicago. The case was filed in the United States Bankruptcy Court, Northern District of Illinois, Eastern Division. Sources close …
The Sussex Countian reports the opening of a brand new modular home dealer in Georgetown, Delaware. Two Sussex Central graduates have opened Peninsula Homes between Georgetown and Millsboro near the Eastern Shore, and offer over 100 variations for the homes. Turnaround time is six to eight weeks. Co-owner Eddie Ghabor …
The Palm Beach Post reports that over 100 residents of manufactured communities in Florida attended a Florida Public Service Commission (FPSC) hearing regarding Aqua Utilities Florida Inc.’s request for a rate increase. The FPSC has conducted a series of public meetings attended by hundreds of customers since October to complain …
West Virginia Public Broadcasting recorded two voices from the manufactured housing industry in West Virginia. A 23-year veteran in the business, and now the general manager of Freedom Homes in Raleigh County, Rocky Mills says several of his competitors have gone out of business because of the rough economy. He …
MH Pros in West Virginia Say Industry Is Toughing it Out Read More
The Dow fell 38.45 points to 12,394.66 on continuing fears about the recovery of the economy, while housing stocks closed mixed. Cavco Industries closed up 4.50 percent, Skyline Corporation gained 4.48 percent, MSCI was up .74 percent, and ELS closed up .26 percent. Meanwhile, Sun Communities fell .08 percent, while …
Dow Moves Down Slightly, While Several Housing Stocks Move Up Read More
Following up on an article we published May 24 regarding Cordova, Alabama, Mayor Jack Scott’s insistence on keeping Federal Emergency Management Agency (FEMA) homes out of Cordova, The Birmingham News reports that 200 people showed up for a city council meeting to protest the ban, many venting their frustrations. Mayor …
Tempers Flare at Cordova, Alabama, City Council Meeting Read More
Following up on an article we published here May 20, the Tuscaloosa News says eight Federal Emergency Management Agency (FEMA) homes have been delivered to Tuscaloosa County following the devastating tornadoes of April 27, and are being sited at a community outside the city limits. Over 250 FEMA homes have …
Origination News says as a result of The Senior Citizens League (TSCL) Annual Survey of Senior Costs, since 2000 typical living expenses have increased 73 percent while the Social Security Cost of Living Adjustment (COLA) has only gone up 31 percent. Apartment rentals are up 39 percent and home ownership …
HousingWire reports the Federal Housing Finance Agency (FHFA) recorded the largest quarterly drop in house prices since the last quarter of 2008, as prices fell 2.5 percent in Q1 2011 from the previous quarter. Based on the mortgages of Fannie Mae and Freddie Mac, house prices fell 5.5 percent over …
Following up on an article we published here May 18, Benzinga reports ATCO Structures and Logistics (ATCO) has been awarded a second contract for building a modular workforce community on Curtis Island, Queensland, in Australia. The Gladstone Liquefied Natural Gas (GLNG) project will have 336 modular housing units, including recreational …
The Daily Camera in Boulder, Colorado, says residents of Orchard Grove, a factory-built home community in Boulder, want to change five acres of empty land from medium-density residential to manufactured housing. The community of 450 residents is included in Boulder’s affordable housing quota. In 2008 the city rezoned the occupied …
The Dow dropped .20 percent on fears of the slowing U.S. economy and European debt issues to end the day at 12,356.21, while housing stocks closed mixed. Nobility Homes was up 4.99 percent, Cavco gained 3.53 percent, MSCI was up .17 percent, and Sun Communities moved up .05 percent. Palm …
Sluggish Economy Drops Dow, Housing Stocks Close Mixed Read More
With 19 years in the industry, Jay Hamilton has become the new executive director of the Georgia Manufactured Housing Association. In a conversation with MHMSM, he indicated he has held numerous sales positions, first with Champion Homes, and more recently with Fleetwood Homes as Regional Sales Manager until they sold …
Following up on a story we published here May 20, The Birmingham News says Cordova, Alabama, Mayor Jack Scott continues to refuse to allow Federal Emergency Management Agency (FEMA) homes to site in his town despite pleas from residents. Danny Banks’ single section home was destroyed by the tornado April …
Cordova, Alabama, Mayor Continues to Keep FEMA Homes Out Read More
The Langley Advance reports one of the largest modular and manufactured housing firms in Canada is being sold to Western One Equity Income Fund for $93 million. Britco, of British Columbia, which supplied the Winter Olympics with the Whistler Village modular units, will become part of a public company that …
Business Wire says T.J.T., Inc., is closing its Platteville, Colorado, operation which served manufactured housing plants in a tri-state area with recycled axles, running gear and tires. Many of the plants have either closed or reduced housing production. T.J.T., established in 1977, is moving its collection and distribution operation to …
The Birmingham News reports that the Federal Emergency Management Agency (FEMA) has approved nearly 250 FEMA manufactured homes for refugees of last month’s tornadoes in Alabama, but so far only 35 are occupied. Before a home can be sited, officials have to make certain the space is suitable, and that …
FEMA Homes Require Installation Effort to Be Habitable Read More
