The National Association of Home Builders (NAHB) reports to MHProNews the Multifamily Production Index (MPI), which measures builder sentiment in the multifamily and condominium marketplace, remained steady with a reading of 52, the third consecutive month of readings over 50. Any number over 50 indicates more builders think conditions are …
Nonbank lenders are closely watching the progress of the loan officer compensation rule set to be released mid January, 2013 by the Consumer Financial Protection Bureau (CFPB) as it could have a large effect on their income. A key issue to watch, as originationnews tells MHProNews, is dual compensation where …
GuruFocus reports Drew Industries, Inc. (DW) President and CEO Fredric Zinn sold 15,3000 shares of Drew at an average price of $32.45 on Dec. 3, 2012. He still owns 82,078 shares following the sale. The value of the stock fell by 1.36 percent since. Jason Lippert, CEO of Drew subsidiary …
KULR8TV in Billings, Montana tells MHProNews the 70,000 square foot former Sutton Sportswear building has been occupied the last six months by modular home builder Cass Homes, and the company plans to hire an additional 20-30 workers within the next two months. Providing high-end homes to eastern Montana, Canada and …
NJToday tells MHProNews an Assembly committee in the New Jersey legislature approved fire safety legislation that would require all new single and two-family homes to have a fire suppression system that conforms to the State Uniform Construction Code. Under the “New Home Fire Safety Act” a certificate of occupancy would …
Manufactured Housing Dodges Fire Suppression System Read More
Tech stocks gave the market a push today, especially Apple’s rise of 1.6 percent, but the impending fiscal cliff continues to cast a gloomy shadow. CNNMoney reports the Dow Jones Industrial Average gained +0.30 percent, +39.55 points, ending the day at 13,074.04. The Nasdaq moved up +0.52 percent, +15.57 points, …
The FHA Emergency Fiscal Solvency Act (H.R. 4264), to insure solvency of the agency’s single-family insurance fund, passed the House 402-7 last Sept. and is awaiting action before the Senate Banking, Housing and Urban Affairs Committee. House Financial Services Committee Chairman Spencer Bachus sent a letter to Sen. Tim Johnson, …
Many community banks are still weighed down by non-performing construction loans, so their regulators do not want them issuing new construction loans, especially since so many small banks sank when the housing bubble burst. Originationnews tells MHProNews with housing starts up 3.6 percent Oct. 2011 to Oct 2012, community banks …
According to the National Association of Home Builders (NAHB), the number of metro areas with six months of improving market conditions for the housing industry increased by 84, Nov. to Dec., a huge jump to 201 total. Eight areas were removed from the list. The NAHB/First American Improving Markets Index …
Nationalmortgaenews tells MHProNews in a survey of 681 respondents by Carlisle & Gallagher (C&G) of Charlotte, NC in Sept., 48 percent would feel comfortable with a mortgage from PayPal, and 33 percent with WalMart. 81 percent are satisfied with banks, 56 percent are weary of the length of time required …
In the most recent MH commentary focused on the devastation Hurricane Sandy left behind in New Jersey, specifically, the 122,000 structures damaged or destroyed, Gov. Chris Christie has recently approved a long range five-prong solution to the housing problem. In addition to rehabbing and repairing existing structures and maximizing rental …
According to Mortgage Bankers Association’s (MBA) data, refinancings accounted for 83 percent of new mortgage business, up from 81 percent the week before, as mortgage applications rose five percent, apparently with little concern for the fiscal cliff issue. Tying the all-time low, the average contract rate for a 30-year FHA-insured …
Positive corporate news and promising news from President Obama on solving the fiscal cliff problem nudged two of the three major indexes a little higher, although many housing stocks we track lost ground. CNNMoney reports the Dow Jones Industrial Average gained +0.64 percent, +82.71 points, ending the day at 13,034.49. …
Afternoon Rally Drops as many Housing Stocks Follow Suit Read More
Yahoo!Finance reports Nobility Homes, Inc. of Ocala, Fla., in announcing financials for the third quarter ending Aug. 6, 2011, says net sales were $2,881,572 as compared to $4,351,040 for the same period in 2010. Loss from operations in the quarter was $929,145 as opposed to a loss of $2,963 for …
Forbes reports one way to measure the level of fear in a stock is the Relative Strength Indicator (RSI), a technical analysis indicator which measures momentum on a scale of 0 to 100, and anything below 30 translates into a stock being oversold. Tuesday’s trading on the Toronto Stock Exchange …
HUD’s Office of Sustainable Housing and Communities (OSHC) reports in its attempt to coordinate housing and jobs in specific communities, in 2010 and 2011 it awarded 152 grants in 48 states totaling $240 million that in turn generated $253 million in private investments and commitments from local partners. HUD’s investment …
In discussing the future roles of Fannie Mae and Freddie Mac in multifamily housing finance, HousingWire tells us the Mortgage Bankers Association (MBA), in a White Paper, outlined a method for government to attract large private capital. New policies need to be enacted that provide a stability and insurance backstop …
Private Capital, Government Insurance for Multifamily Read More
CNNMoney tells MHProNews Fannie Mae and Freddie Mac will suspend all bank repossessions the week before Christmas and will not continue evictions until Jan. 2, 2013. Said Terry Edwards, executive vice-president of Fannie Mae, “The holidays are a chance to be with loved ones and we want to relieve some …
Wrangling in Washington over the impending fiscal cliff once again stifled U.S. stocks as the three major indexes ended below the break even line. CNNMoney reports the Dow Jones Industrial Average slipped -0.1 percent, -13.82 points, ending the day at 12,951.78. The Nasdaq moved down -0.18 percent, -5.51 points, to …
International Business Times reports UMH Properties, Inc. (NYSE:UMH) has acquired 141 site Twin Oaks MHC in northern Ohio outside Cleveland for $4,350,000. Based in Freehold, NJ, UMH now owns 56 manufactured home communities comprised of over 10,500 developed homesites in six states east of the Mississippi. President Samuel A. Landy …
