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.
Fannie Mae announced it has reached an agreement with Bank of America and its affiliates – BAC Home Loans Servicing, LP, and Countrywide Home Loans, Inc. – to address outstanding repurchase requests for residential mortgage loans with an unpaid principal balance of approximately $3.9 billion delivered to Fannie Mae by […]
Fannie Mae Reaches Agreement with BOA to Address Repurchase Requests Read More
Sun Communities, Inc., a real estate investment trust (“REIT”) that owns and operates manufactured housing and recreational vehicle communities, announced recently its Board of Directors declared a quarterly dividend of $0.63 per share for the fourth quarter of 2010. The dividend is payable January 21, 2011 to shareholders of record
Sun Communities Declares Fourth Quarter 2010 Dividend Read More
The Dow ended up seven points December 31 and some 11 percent for the year. The Manufactured Housing Composite Value ended the last day of the year on a sour note, however, down one and a quarter percent. The Index was down more than 17 percent for the year. Several
Dow Adds 11 Percent in 2010, MH Values Drop Overall Read More
The profession of selling is changing and has been for a number of years. This change is being driven by advances in technology, changing consumer attitudes, increased competition, an aging population, increased consumer annoyance with repetitive sales tactics that offer nothing new, corporate ethics, a global market place, corporate mergers,
Is 2011 going to be a repeat of 2010? Read More
From New York, Greene County News reports that Catskill Mountain Housing Development Corporation recently announced that they are collecting applications for the Greene County Trailer Replacement Program. The program replaces severely deteriorated mobile homes with new, energy-efficient manufactured homes. To be eligible, applicants must own the land on which the
Applications Being Accepted for Home Replacement Read More
Steve Harney has some advice for homeowners sitting on the sidelines: sell. That, the real estate consultant says, is because prices may go down 5 percent to 8 percent as banks unload a glut of repossessed properties. Harvey told a crowd of real estate agents in Naperville, Illinois that the
Real Estate Consultant Says Sell Read More
Correctional News reports that Oldcastle Precast Modular has been awarded the precast cell contract for the new Pennsylvania State Correctional Institution Graterford East and West project. The new $365 million prison is one of the largest correctional projects in progress in the United States. Oldcastle was awarded the contract to
Modular Company Awarded Contract to Build PA Prison Read More
From New York, the Watertown Daily Times reports that an investor recently purchased a 53-acre property known as Patriot Mobile Home Park, expecting demand in 2012 when troops return from Afghanistan. Las Vegas-based Jeremiah L. Boucher purchased the community for $615,000 and currently holds about 60 two- and three-bedroom homes.
Investor Expects MH Demand from Returning Troops Read More
The Massachusetts-based Atrium Custom Homes announces the company is allowing would-be-homeowners to custom make their modular homes to meet their exact needs. In a release, the company pointed out some of the problems associated with an existing home and emphasizes the ability for homeowners to custom plan their modular homes.
Modular Builder Emphasizes Customization Read More
Energy companies led stocks higher on Wednesday. Most manufactured housing and related stocks also closed modestly higher. All American Group, Equity Lifestyle Properties and Universal Forest Products all added more than one percent to share value. Sun Communities and Drew Industries closed lower. The Manufactured Housing Composite Value was up
Stocks Close With Modest Gains Wednesday Read More
Housingwire.com reports a new bill awaiting President Obama’s signature would expand tax exemptions for stock in REITs. While some of the return in REITs is already tax-free, Housingwire says the new legislation would promote foreign money being put into REITs. The Real Estate Jobs and Investment Act of 2010 amends
New Bill Helps REIT Investors Read More
From Mississippi, the Lauren Leader-Call reports that several residents of Ellisville have received new modular homes with the help of the town’s HOME Investment Partnership grant. Ellisville was awarded $188,233 by HUD to reconstruct the homes. The article notes program funds are allocated to units of general local government on
Home Grant Brings New Modulars to Mississippi Community Read More
From the Bismark Tribune we learn that the town of Killdeer, ND has signed a letter of intent to sell some commercial property it owns to Pinnacle Equity, of Bismark, to develop a court for 30 single-wide manufactured homes. The land will require a conditional use permit. The article indicates
North Dakota to See New MH Community Read More
The online bargain fashion site known as Gilt.com is offering a $12,500 prefab home, accoding to an item in the New York Daily News. According to the report, the members-only discount site teamed up with Dwell and Turkel Design to offer the homes at a price reduced from $25,000. A
Gilt.com Offers $12K Prefab Home Read More
The credit quality of first-lien mortgages serviced by large national banks and thrifts remained steady during the third quarter of 2010, but the pace of foreclosures increased, according to a report released Wednesday. The quarterly report by the Office of the Comptroller of the Currency (OCC) and the Office of
Report Shows Mortgage Performance Steady, Foreclosures Jump Read More
Social media is a place to socialize with friends and family, but it’s also a great place to let your friends know about your favorite products. To do that, users become a fan of product and service pages. We took a look Wednesday to see who was on Facebook from
Factory-Built Housing on Facebook Read More
The Manufactured Housing Composite Value moved down modestly Tuesday after two days of gains. Most manufactured housing and related stocks closed lower. The exceptions were Cavco and UMH Properties, which posted modest gains. Walker and Dunlop, a company that helps finance the purchase of manufactured housing communities, posted gains Wednesday,
Dow Gains, MH Stocks Decline Read More
Data through October 2010, released Tuesday by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, show a deceleration in the annual growth rates in 18 of the 20 MSAs and the 10- and 20-City Composites in October compared to what was reported
New Lows for U.S. Home Prices Read More
MHMSM.com recently sent a letter to Des Moines Register Managing Editor Randy Brubaker regarding a December 26th article titled “The most dangerous housing in America.” The letter pointed out the article failed to correctly distinguish between “mobile” homes built before the implementation of the HUD Code in 1976, and modern,
MHMSM.com Responds to MH Article in the DesMoines Register Read More
The Federal Housing Finance Agency (FHFA) reported Tuesday that the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used as an index in some ARM contracts, was 4.42 percent based on loans closed in November. This is a decrease of 0.07 percent from
Federal Housing Finance Agency Reports Mortgage Interest Rates Read More
