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.
CNBC reports the Obama administration may look to cut government support for the mortgage market to below 50 percent over time. Fannie Mae and Freddie Mac currently backstop more than 85 percent of the mortgage market. Key housing officials were expected to meet at the White House late Tuesday to …
Plan May Reduce Fannie and Freddie Role in Mortgages Read More
Overall, Fannie Mae financing for multi-family rental properties dropped from $19.8 billion in 2009 to $16.9 billion in 2010, a 14 percent decrease. According to Housingwire, financing for manufactured housing communities dropped more than 50 percent, from $1.1 billion in 2009 to $540 million last year. Senior housing projects financing …
Fannie Mae Registers Sharp Manufactured Housing Decline Read More
Several mergers announced Monday gave investors renewed confidence in the economy that sent stocks up nearly 70 points. The Manufactured Housing Composite Value rose nearly three percentage points. Several stocks had sizeable individual gains including Cavco, up more than four percent; Barnes Group, up more than three percent and UMH …
Housingwire reports that the publishers of a Bank of America Merrill Lynch Securitization Weekly Overview say plans by Republicans to wind down the operations of Fannie Mae and Freddie Mac in next four years may be too ambitious, with a true transition expected to take up to six years. As …
Bankers Say Republican Plan for Fannie and Freddie Ambitious Read More
The Press of Atlantic City ran a story recently encouraging readers to thing of manufactured housing as affordable rather than mobile. The newspaper calls the product “one of the few remaining means of comfortable yet affordable home ownership in New Jersey.” The article refers to Atlantic Gardens in Egg Harbor, …
Through the combination of government funding, and community donations and support, the modular homes that housed Olympic athletes during last year’s winter games will now be home to people with mental health problems who otherwise might be at risk for homelessness. According to British Columbia’s Coast Reporter, the $3.7 million …
The old adage that sold Packard automobiles for many years, “Ask the Man Who Owns One,” still rings true in Clayton Homes’ Abilene, Texas office. General manager Buddy Parish, a veteran of nearly thirty-five years selling manufactured homes, earned the company’s Five Star Service Award sixteen out of the last seventeen …
The Manufactured Housing Institute (MHI) reports that on February 3, House Budget Committee Chairman Paul Ryan (R-WI) released a budget allocation for the remainder of fiscal year 2011— federal programs are currently operating a stopgap continuing funding resolution that expires March 4—that would cap spending at $1.05 trillion and trim …
The Dow spent several days last week above the 12,000 mark, and ended the week 92 points above this milestone. Most manufactured housing and related stocks ended the day down. Cavco was off more than three percent and Skyline Corporation was down 2.45 percent. All American Group ended the day …
On February 1, the Federal Reserve Board announced it would not finalize pending rulemakings under Regulation Z, which implements the Truth in Lending Act (TILA), prior to the transfer of authority to the Bureau of Consumer Financial Protection (CFPB). The CFPB is slated to assume jurisdiction over TILA, as outlined …
Federal Reserve to Withhold Final Regulation Z Rulemakings Read More
On January 31, it was announced that the National Mortgage Licensing System and Registry (NMLSR) would begin accepting registrations for residential mortgage loan originators employed by banks, savings associations, credit unions or Farm Credit System institutions. Employees of agency-regulated institutions would have until July 29, 2011 to register with the …
From the Keystone State, from the Lebanon News comes a story about residents considering legal options to try to prevent the owners of Northcrest Acres from forcing them to install new storage tanks for kerosene or fuel oil or to switch to propane. Lawyers are expected to argue the conversion …
Pennsylvania Community Asks Residents to Switch Fuel Source Read More
The Pennsylvania Propane Foundation has announced its sponsorship of the 2011 HOMExpo, presented by the Pennsylvania Manufactured Housing Association (PMHA).This year’s event will be held April 29 – May 1st at the York Expo Center in York, PA. Thousands of people are expected to attend. The Pennsylvania Propane Gas Association …
According to the Texas Quarterly Housing Report released by the Texas Association of Realtors, Texans bought and sold fewer homes in 2010 than in 2009, but the median price of those homes remained stable from year to year. “Specifically, in 2010, 202,916 homes were sold in Texas, which is five …
A pilot loan program aimed at increasing access to inventory financing for auto, boat, RV and manufactured home dealerships will be re-launched next week and will be effective through Sept. 30, 2013, the U.S. Small Business Administration announced Friday. The Small Business Jobs Act of 2010 included a provision for …
SBA Re-launches Dealer Floor Plan Pilot Loan Program Read More
Stocks closed modestly higher Thursday while the Manufactured Housing Composite Value finished lower by a fraction of one percent. Most manufactured housing stocks ended the day about where they started. Drew Industries lost nearly two percent to close at $23.19 a share and Global Diversified Industries closed up more than …
The Bangor Daily-News reported that a company there is manufacturing homes and offices from shipping containers. SnapSpace Solutions Inc. says customers can design their buildings to look like anything, such as a traditional New England home, and can cover them with vinyl, brick or any other siding. Maine Rural Development …
A one-and-a-half-minute video from the Asbury Park, New Jersey Press website, via USA Today/Gannett, documents in time lapse sequence, the erection of a modular home in Chapel Hill, North Carolina. The female voiceover starts: “Factory built homes are becoming more greener and stylish. As this video shows, a Massachusetts based …
Zillow.com and Yahoo! Real Estate announced the launch of an exclusive partnership that brings together the two sites and creates the largest real estate network on the web, according to comScore Media Metrix. Zillow’s sales force now sells local advertising across both sites, and the four million for-sale listings on …
Reports from Tulsa find the 2011 Great Southwest Home Show is filling up. Southern Energy of Texas has committed along with Southern Energy of Alabama. The lineup also includes Legacy Housing, Skyline Corporation, Palm Harbor Homes, American Homestar, Fleetwood, Clayton and others. A large number of booth exhibitors will be …
