The three major indexes fell again today as investors remained against the wall of the dance floor wondering when the Federal Reserve will begin slowing its economic stimulus program. CNNMoney reports the Dow Jones Industrial Average fell -104.01 points, -0.66 percent, to close at 15,739.43. The Nasdaq dropped -0.14 percent, …
Tracked Housing Stocks Close Mixed; Three Major Indexes Drop Read More
The Manufactured Housing Association for Regulatory Reform informs MHProNews the Department of Housing and Urban Development (HUD) has published a final rule that implements Manufactured Housing Consensus Committee (MHCC) recommendations made in 2005. Set to take effect June 9, 2014, the final rule omits MHCC-proposed changes to the HUD formaldehyde …
Manufactured Housing Consensus Committee: Win Some, Lose Some Read More
The Virginia Manufactured and Modular Housing Association (VAMMHA) announces applications are being accepted for its 2014 Scholarship Program. Applicants must be employed by VAMMHA member companies or be the children or grandchildren of employees and have a 3.0 grade point average (GPA). Nominations are open to senior high school and …
The Federal Housing Administration (FHA) has revised the loan limit ceiling for single-family mortgages in 2014, reducing it to $625,000 from $729,750. The change will result in approximately 650 counties having lower limits, according to what dsnews.com reports from the Department of Housing and Urban Development (HUD). For low-cost housing …
The Virginia Manufactured and Modular Housing Association (VMMHA) informs MHProNews the implementation of Dodd-Frank regulations by the Consumer Financial Protection Bureau (CFPB) that negatively impact the manufactured housing industry will not be delayed as requested by members of the U. S. Senate. CFPB Director Richard Cordray sent a letter to …
Consumer Financial Protection Bureau Rejects Delaying Dodd-Frank Read More
Sen. Mike Crapo (R-ID) says for the past three years, Sen. Harry Reid (D-NV) has refused to allow any amendments to the Dodd-Frank Act to be enacted, but now Sen. Tim Johnson (D-SD), chairman of the Senate Banking Committee, has shown interest in reforms during this session of Congress which …
Bi-Partisan Support Exists to Amend Dodd-Frank; For it to Happen Soon are Remote Read More
The Consumer Financial Protection Bureau (CFPB) is getting feedback from lenders regarding the Qualified Mortgage (QM) rule, and while it may alter some of the guidelines down the road, it will wait until lenders adjust to the new set of guidelines. Speaking to a Women in Housing and Finance gathering, …
Qualified Mortgage Guidelines will not Change Initially Read More
A budget deal coming out of Washington gives investors more concern that the Federal Reserve will begin tapering its quantitative easing sooner rather than later, causing the three major indexes to tumble in today’s trading. CNNMoney reports the Dow Jones Industrial Average fell -129.60 points, -0.81 percent, to close at …
Tracked Housing Stocks All Drop or Close Even; Three Major Indexes Fall Read More
The National Association of Home Builders (NAHB) Chairman Rick Judson issued a statement applauding the confirmation of Rep. Mel Watt to head the Federal Housing Finance Agency (FHFA), MHProNews has learned. Noting his experience working on housing issues as a member of the House Financial Services Committee for almost two …
Rep. Mel Watt Chosen to Lead the Federal Housing Finance Agency Read More
The first multifamily modular housing apartment units to hit Long Island’s (New York) Nassau County received a grand opening last week. The 29-unit gated community in Hempstead, NY, Village Lofts has one-and two-bedroom units, some at market rates and some moderately priced. Built by Clayton Homes, the apartments feature high-tech …
As MHProNews posted Aug. 8, 2013, New York City has 17 modular housing projects currently under way. The largest of them, the 32-story, Forest City Ratner’s B2, comprised of 930 steel-framed units, will see the first modules arrive Thursday, Dec. 12, according to DNAinfo.com. Of the 363 apartment units, half …
MHProNews has learned from sidneyherald.com two or more units of workforce housing or manufactured homes sited on the same parcel of land in Richland County, Montana must be compliant with the Richland County Subdivision Regulations. Additionally, the plans must also be approved by the Montana Dept. of Health and Human …
Over Two Manufactured or Modular Units Need Approval Read More
Manufactured housing communities and apartment buildings in Mankato, Minnesota will have an additional six months to adjust to the two percent increase for water and sewer service charges, according to mankatofreepress.com. The increase, intended to get revenues more in line with costs, was originally scheduled for Jan. 1, 2014 but …
Utility Bill Increase for Manufactured Homes Delayed Six Months Read More
Owners of manufactured homes that occupy land owned by someone else in Washington County, Indiana are required to submit the vehicle identification number (VIN) or a copy of the title to the county assessor’s office by Dec. 20, 2013. MHProNews has learned from salemleader.com if the home owner does not …
A Nashville, Tennessee man has been convicted of seven counts of bank fraud for submitting false invoices from a modular home manufacturer based on down payments that were not in fact received, and then misrepresenting the status of construction of the homes. Keith Churn made false statements to the bank …
Man Churns Waters of the Secret Service, Faces Jail Read More
According to fireengineering.com, GreenWorld Restoration has received a contract from the Texas General Land Office (GLO) for Modular and Alternative Housing as one of the vendors to rebuild 12,000 homes following the destruction from Hurricanes Ike and Molly and the Texas wildfires. GreenWorld utilizes a metal stick framed interlocking wall …
Investors hit the pause button on the Big Board today as they await word next week from the Federal Reserve. CNNMoney reports the Dow Jones Industrial Average slipped -52.4 points, -0.33 percent, to close at 15,973.13. The Nasdaq fell -0.20 percent, -8.26 points, to finish at 4,060.49, while the S&P, …
Three Major Indexes, Most Tracked Housing Stocks Fall Read More
In response to Harvard University’s Joint Study on Housing documenting the shortage of affordable rental housing in the U. S., as MHProNews covered earlier, Chairman of the National Association of Home Builders (NAHB) Rick Judson issued a statement emphasizing the importance of the Low Income Housing Tax Credit (LIHTC) in …
NAHB Supports Harvard’s Affordable Rental Initiatives Read More
MHProNews has learned from blueridgenow.com as of Jan. 1, 2014 that the North Carolina sales tax on manufactured homes will increase from two percent to the general rate of 4.75 percent, and on modular homes from 2.5 percent to 4.75 percent. Neil Carter, owner of Carter’s Homes in Fletcher says …
New Sales Tax will Raise the Price of Manufactured, Modular Homes Read More
Bloomberg businessweek reports a study by the Joint Center for Housing Studies at Harvard University has determined the availability of less expensive apartments has not kept up with demand. This has lead an added 2.5 million people in four years to pay over 50 percent of their income for housing—28 …
