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.
Looking forward to Fannie and Freddie reform? It may take a while. As reported by Housingwire, analysts at the Royal Bank of Scotland (RBS) estimate changes will take up to 15 years to fully implement. The analysts also indicate their view that a rush to change may put the secondary […]
GSE Reform Could Take 15 Years Read More
Good news from the Mortgage Bankers Association (MBA). The group released its Weekly Mortgage Applications Survey Wednesday for the week ending January 28, revealing a volume increase of 11.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 13.2 percent compared with
Mortgage Applications on the Rise Read More
Champion Enterprises Holdings, LLC, announced Tuesday that John N. Lawless, III has been named its President and Chief Executive Officer. Since 2007, Lawless has been the President of Headwaters Construction Materials, Inc., a manufacturer of building products based in Wixom, MI. Prior to that, Mr. Lawless was President and Chief
Champion Names Jack Lawless CEO Read More
From Illinois, the Commercial News reports the Danville Area Planning and Zoning Commission will consider approving a special-use permit request by Sandra and Connie Reynolds for a manufactured home in a rural residential zoning district. The residents want to replace a home destroyed by fire with a manufactured home. The
Illinois Community Takes Up MH Permitting Read More
Drew Industries Incorporated, a leading supplier of components for recreational vehicles and manufactured homes, reported this week that its wholly-owned subsidiary Lippert Components, Inc., acquired the assets and business of Nampa, Idaho-based Home-Style Industries, and its affiliated companies. The purchase price of $7.25 million was paid from available cash, and
Drew Acquires RV Furniture Maker Read More
From Florida, TCPalm.com reports that residents of Barefoot Bay have voted against becoming Brevard County’s 17th municipality. Straw poll results show 63 households want a committee to continue studying incorporation of the sprawling manufactured housing community, but 620 households voted to drop the campaign. Developed during the 1970s as Florida’s
Residents of Barefoot Say No Thanks to Incorporation Read More
Stocks recouped value from their plunge January 28, closing above 12,000. Two stocks on our watch list, Skyline Corp and Global Diversified Industries, closed lower Tuesday, but they were the exception. Universal Forest Products closed up more than four percent, Barnes Group closed up more than three percent and Drew
Most MH Stocks Higher Tuesday Read More
Bloomberg News reported that Palm Harbor Homes filed an operating report showing a $5.3 million net loss on revenue of $12.7 million for December. Palm Harbor is to auction most of the business on March 1. Fleetwood Enterprises Inc., a venture between Cavco Industries Inc. and a fund advised by
Palm Harbor Reports December Loss Read More
The Manufactured Housing Institute (MHI) has hired Lisa Quinn Brechtel for the position of Vice-President/Executive Director of MHI’s National Communities Council. She will be dedicated to landlease community issues and programming. Ms. Brechtel comes to MHI from the National Association of Realtors (NAR), where she served as a Senior Policy
MHI Welcomes Lisa Quinn Brechtel as National Communities Council Exec Read More
Bloomberg News cited Commerce Department figures Tuesday indicating construction spending in the U.S. unexpectedly fell 2.5 percent in December to the lowest level in a decade. Bloomberg reports its estimate of surveyed economists called for a 0.1 percent gain. Construction spending decreased 10 percent in 2010, after dropping 15 percent
Construction Spending Unexpectedly Falls Read More
Fiserv, Inc. released an analysis of home price trends in more than 375 U.S. markets based on the Fiserv Case-Shiller Indexes. The company finds that in the third quarter of 2010, U.S. single-family home prices saw an average decrease of just 1.5 percent over the year-ago quarter, as a growing
Home Prices Begin Stabilizing Read More
Depending on which association you ask, a recent executive order on over-regulation is either a mandate for change or a simple political maneuvering. The White House issued an Executive Order earlier this month similar to one issued by President Clinton in 1993 to improve regulation and regulatory review. Following the
MHARR Hits HUD Hard With Executive Order, MHI Cautions Approach Read More
From Iowa, the Muscatine Journal reports the town may soon be home to a modular housing development, if Jason Harder has his way. Last year this developer purchased the 43 year-old Ripley’s Trailer Court, as well as a 38-acre adjoining pastureland, changed the name to Ripley’s Affordable Housing, and is
Manufactured Homes Coming to Muscatine Read More
Stocks moved up nearly 70 points on the last day in January after unrest in Egypt sent shivers through markets on Friday. Analysts say investors instead focused on the positive earnings news out of Exxon Mobil and rising commodity prices. Several manufactured housing and related stocks also logged gains. Most
Stocks Begin Week in the Green Read More
The Manufactured Housing Association for Regulatory Reform (MHARR) provided a report this week from a conference call by the Technical Systems Subcommittee of the Manufactured Housing Consensus Committee (MHCC). The meeting addressed two key pending regulatory issues – sprinklers and ground anchors. Regarding fire sprinklers, MHARR reports the subcommittee confirmed
MHCC Subcommittee Discusses Fire Sprinklers, Ground Anchors Read More
From Texas, WacoTrib.com reports a Clayton Homes plant there has been honored with the 2010 President’s Cup award as the best overall plant in terms of satisfaction, profitability, sales and safety in the system. The plant has been operating since 1982. A second plant in the town earned the award
Waco Plant Wins President’s Cup Read More
Housingwire reports that RealtyTrac Senior Vice President Rick Sharga conveyed that major banks currently hold roughly 1 million homes repossessed through foreclosure, but only 30 percent have made it onto the market. The report also indicates foreclosure filings reached a new high in 2010 and should climb even higher this
Many Foreclosures in the Wings Read More
The Manufactured Housing Consensus Committee (MHCC) held its first meeting of 2011, under its new HUD-appointed Chairman, by telephone conference call on January 27, 2011. The Manufactured Housing Association for Regulatory Reform (MHARR), however, noted in an email with “continued HUD blunders” in the title, that because notice of the
MHARR Chronicles “Call of Blunders” Read More
The Manufactured Housing Consensus Committee (MHCC) held its first meeting for 2011 by teleconference Thursday and welcomed seven new members to the committee. The new members spent a day at HUD prior to the teleconference to receive an orientation. The MHCC meeting was primarily organizational and no actions or votes
MHCC Holds its First Meeting in 2011 Read More
The Cavco webcast of January 28 on their 2011 third quarter earnings reports produced reason for hope, solid financials and the proposed acquisition of Palm Harbor. Cavco, based in Phoenix, AZ is one of the three top producers of manufactured and modular homes in the country. President, Chairman and CEO
Stegmayer Says Demographics Favor Manufactured Housing Read More
