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.
The U.S. Department of Housing and Urban Development (HUD) issued an announcement that section 941 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) regarding mortgage risk retention is being revamped. A proposed rule change will be in the Federal Register for public comment when the process is …
The Dow dropped 22.71 points, as news of global developments drove prices down. Housing stocks finished mixed. The Dow closed at 12197.88. Skyline Corp. closed up 1.57 percent, Cavco lost 1.71 percent, and Nobility Homes and Deer Valley remained unchanged. The Manufactured Housing Composite lost .53 percent to end the …
HQPrinceGeorge reports that Pat Bell, Minister of Jobs, Tourism and Innovation of Canada, is going to focus on lumber and wood product exports on his trip to China. Bell, the George-MacKenzie Member of Legislative Assembly (MLA), is particularly interested in exploring opportunities for selling modular housing. Ten thousand people …
British Columbia MLA Looks to Sell Modular Housing in China Read More
Bloomberg reports Walter Investment Management Corp. (NYSE: WAC) of Florida is acquiring Green Tree Credit Solutions (NYSE: GTCS), commonly known as Green Tree, of Minnesota, for $745 million. Green Tree’s $37.5 billion portfolio includes manufactured housing loans as well as consumer loans and residential mortgages. The goal stated by Walter’s …
HousingWire says one of the discussions at a Federal Deposit Insurance Corporation (FDIC) meeting with federal regulators centered on giving delinquent homeowners each $21,000 in a cash-for-keys program. The regulators are working with attorneys-general of all 50 states and major lenders to reach a settlement involving faulty affidavits used to …
Discussions Center on Resolving Mortgage Servicers’ Errors Read More
WCFCourier reports from Waterloo, Iowa, that a downtown area first platted in 1854 will be the site of a modular home development. With the exception of two homes across the street built seven years ago, the five new houses will be the first new homes built there in 85 years. …
The Star-Telegram reports that in Grapevine, Texas, an amended ordinance will impose restrictions on fences around factory-built home communities. City officials had discovered businesses operating illegally behind fences, and grass six feet tall that can harbor insects and rodents. The new ruling will allow four-feet tall fencing that is 50 …
HousingWire reports the Federal Reserve Bank of Philadelphia said residential building permits declined in Pennsylvania, Delaware and New Jersey between January and February, while nationally this figure was up 3.5 percent. Single-family permits fell 38.1 percent in Pennsylvania, 26.6 percent in New Jersey and 11.1 percent in Delaware, while rising …
Residential Building Permits Fall in Three-State Area Read More
The Dow ended the week gaining 50.05 points to finish at 12,220.59. Cavco gained 3.54 percent, Skyline Corp. was up .05 percent, and Nobility Homes lost 2.41 percent. The Manufactured Housing Composite gained 1.98 percent to end the week at 1217.
As a follow-up to a story posted here on March 24 about steel shipping containers transformed into homes by a New York firm, The Providence Journal reports a consortium of government, academia and business elements are combining forces to convert old shipping containers into homes, much like a modular unit. …
Collaboration Converting Shipping Containers into Homes Read More
HousingWire reports that in the first two months of this year, Freddie Mac completed just over 23,000 loan modifications. The seriously delinquent rate of single-family mortgages fell to 3.78 percent in February from 3.82 percent in January. Last year, delinquencies were growing. Freddie’s single-family, refinance-loan purchase and guarantee volume dropped …
Freddie Mac Says Single-family Delinquencies Decline Read More
BusinessWire reports that three of the Modular Building Institute’s (MBI) annual World of Modular Conference Achievements of Distinction went to modular builder M Space. Receiving what is considered the top honor in the commercial modular industry, M Space took first place for their two-story New York Federal Aeronautics Administration (FAA) …
The Winnipeg Free Press says a Canadian company that has shipped nearly 12,000 manufactured homes to Japan in the past ten years, will send 200 temporary shelters within the next two weeks. Viceroy Homes, Ltd. is building a basic structure with a bedroom, kitchen and bathroom that normally sells for …
Canadian MH Builder Expects Japanese Orders to Spur Business Read More
The U.S. Department of Housing and Urban Development (HUD) issued a press release announcing the six finalists that will compete for the $61 million Implementation Grant funding through the new Choice Neighborhoods Initiative (CNI). Boston, New Orleans, Seattle, Tampa, San Francisco and Chicago submitted plans to tackle affordable housing, employment, …
HUD Announces Finalists for Choice Neighborhoods Initiative Read More
The Mount Vernon Gazette reports from Virginia that a long-awaited plan for affordable housing on North Hill will be coming to a final vote June 21 before the Fairfax County Board of Supervisors. The board first has to approve the $13 million bond issue to develop the infrastructure for the …
The Dow climbed 84.54 points to end the trading day at 12170.56. Most housing stocks also advanced on the day. Nobility Homes gained 5.57 percent, Skyline Corp. was up 3.65 percent and Cavco moved up 1.59 percent. Deer Valley was again unchanged. The Manufactured Housing Composite climbed 2.47 percent to …
American Banking and Market News says ATCO Structures and Logistics has received a contract to provide modular housing, dining and recreational facilities for a 1,500 person workforce for Rio Tinto Alcan, Inc.’s smelter modernization project in Kitimat, BC. The modular units, designed to withstand extreme cold and snow, will be …
Canadian Smelter Modernization to Receive ATCO’s Modular Units Read More
According to MarketWire.com, Calgary, Alberta-based Black Diamond Group will provide modular housing for the third phase of an upscale workforce housing complex for a mineral and exploration project. The second phase is nearly complete for this facility in North Central British Columbia, south of the Yukon Territory. Upon completion of …
Black Diamond Providing Modular Units for Mineral Exploration Read More
The New York Post reports the newest look on the beaches in the Tony Hamptons East End is housing made from steel shipping containers. Not terribly different from modular homes, the containers are sent to a facility in Pennsylvania for repurposing, and then sent on to their final destination. The …
Magic Wand Turns Shipping Crates into Snappy Homes Read More
According to SaveMyMortgageInterestDeduction, in the face of a possible attempt by Congress to eliminate the mortgage interest deduction (MID) as a means of budget cutting, Rep. Gary Miller (R.-CA) has introduced legislation to retain the deduction. The mortgage interest deduction allows taxpayers to deduct the mortgage interest from their income. …
NAHB Supports Keeping the Mortgage Interest Deduction Read More
