MHI Board of Directors Member F. R. Jayar Daily told a congressional subcommittee on housing and insurance that “Manufactured homes are the most affordable homeownership option in the market today,” but the regulatory burdens and the lack of a secondary market for chattel loans reduce financial access for millions of …
MHI’s Daily tells Congress MH is Affordable Housing, Give us a Green Light Read More
As nationalmortgagenews tells MHProNews, the Consumer Financial Protection Bureau (CFPB) has put in motion a new rule that expands lenders’ ability to originate qualified mortgages in rural and underserved markets. The agency’s final rule, which will take effect March 31, implements the Helping Expand Lending Practices (HELP) in Rural Communities …
HELP Act Designed to Expand Lending Opportunities in Rural Areas Read More
Three manufactured home communities (MHC) have landed in the portfolio of Zeman Homes as the result of a $9 million Associated Bank loan in the Ann Arbor area of Michigan, according to what rebusinessonline tells MHProNews. Wagon Wheel in Canton, MI, Wagon Wheel South in Belleville and Carleton Mobile Home …
Zeman’s $9 Million Loan Acquires three MHCs in Michigan Read More
In the news from CNNMoney: U. S. hospitals getting hit by hackers. Tyson Foods workers win $3 million in back pay. Starbucks founder says the country needs a “vision of unity and inclusion” to combat the current divisiveness. Oil glut continues, stockpiles grow. Uber says rival booked 400,000 fake rides. …
Morgan Management, the owner of the Allendale Pines manufactured home community (MHC) in Pittsfield, Mass., wants to raise rents by $70/month to pay for improvements to the community in advance of selling it to a group represented by James Baldyga of Springfield, MA. Two dozen residents of the community attended …
MHC Owner wants Rent Hike in order to Sell Community Read More
MHProNews has learned from euroinvestor that Sun Communities, Inc. (NYSE:SUI) has issued an underwritten public offering of 4,000,000 million shares of its common stock, with a 30-day option for the underwriters to purchase up to 600,000 additional shares. Sun intends to use the funds for its previously announced $1.68 billion …
Sun Communities Raising Funds to Pay for Carefree Acquisition Read More
An ex-offender who served time for mail fraud is now hiring other former inmates for positions in ten different start-ups, including one, Work Pittsburgh, that is building modular homes in the Pittsburgh area. Daniel Bull founded Zero Six Eight as a for-profit incubator with one distinct qualification: you have to …
In insider trading, Drew Industries, Inc. (NYSE:DW) insider Nick C. Fletcher sold 878 shares of Drew at an average price of $63.93 for a total value of $56,130.54. The company reported a quarterly dividend for shareholders of record April 1, 2016 of $0.30 per share to be paid on April …
Headquartered in Southfield, Michigan, Sun Communities, Inc. (NYSE:SUI) is acquiring Carefree Communities Inc. from Centerbridge Capital Partners II, LP for $1.68 billion in aggregate, which includes $1.655 billion for the communities, $16.0 million for manufactured homes and park models, and $9.0 million for a community recently acquired by Carefree. Additionally, …
In the news from CNNMoney: One in four working Americans have less than $1,000 set aside for retirement. Carnival Lines approved for cruises to Cuba come May. Major wireless carriers offer free calls and texts after attacks in Brussels. Wealthy New Yorkers are asking the state to raise taxes, noting …
Writing in seekingalpha about investing in real estate investment trusts (REITs), Brad Thomas, noting the importance of housing to the overall economy, says following housing trends can lead to wise investing in the market. In particular, the manufactured housing market offers opportunity for REIT investors to outperform the overall market. …
Investment Writer Touts Financial Performance of MHCs Read More
MHProNews has learned from thinkstewartville that the Stewartville, Minnesota City Council unanimously approved a conditional use permit for the expansion of Northridge Estates manufactured home community (MHC) by 71 home sites. Owned by Sun Communities, Inc., (NYSE:SUI) the 12.75-acre land will be home to a mix of single-section and multi-section …
Existing home sales fell 7.1 percent in Feb. to an annual rate of 5.07 million units, the lowest level since Nov., according to what the National Association of Realtors (NAR) tells MHProNews. Since the new mortgage regulations designed to increase transparency took effect in October, sales have been volatile, prone …
Feb. Existing Home Sales Drop, Falling -17.1% in Northeast Read More
Writing in seekingalpha, Brian Grosso tells MHProNews Deer Valley Corp. (OTCQX:DVLY) common stock is undervalued and may be a good investment because the stock is trading so low for no apparent reason. The company survived the disastrous downturn following the housing bubble, during which a number of manufactured and modular …
In the news from CNNMoney: Apple drops price on Apple Watch to $299. Saudi Arabia taking over largest U. S. oil refinery. Muslim-American women fighting stereotypes of subservience and being terrorists. Leadership in chaos in Brazil in advance of the Olympics. Minnesota start-up makes two-shot pistol that folds up to …
As newsmax informs MHProNews, The New York Times reports Donald Trump supporters defy typical, political norms. A demographic study released by The Times said, “The places where Trump has done well cut across many of the usual fault lines of American politics — North and South, liberal and conservative, rural …
Trump Support Strong among Manufactured Home Residents Read More
MHProNews has learned from fidaily that the common stock of UMH Properties, Inc. (NYSE:UMH) reached a 52-week high of $10.79 on Friday, March 18 before slipping -0.58 and ending at $10.07. The company recently declared a quarterly dividend of $0.18 per share, representing an annualized payment of $0.72 to shareholders …
What’s New in public focused Manufactured HomeLivingNews.com Surprising Solution, Roadblocks to U.S. Affordable Housing Crisis What’s New in Manufactured Housing Industry Professional News Manufactured home communities sell in VA, FL and MN. MHI insists GSEs make individual chattel loans. Letter to editor compliments MH. Community fined for violating Fair Housing …
Sunday Morning Recap-Manufactured Housing Industry News March 13-March 20, 2016 Read More
In a letter to the Federal Housing Finance Agency (FHFA), the Manufactured Housing Institute (MHI) is pressing the government-sponsored enterprises (GSEs) to back chattel loans, which apply to manufactured homes (MH) not secured by real estate, according to nationalmortgagenews. “Requiring the GSEs to purchase chattel loans as part of their …
MHI Raps FHFA’s Duty to Serve Rule for not Aiding Individual Homebuyers Read More
The Board of Directors of Drew Industries, Inc. (NYSE:DW) of Elkhart, Indiana has declared a cash quarterly dividend of $0.30 per share of common stock, as prnewswire tells MHProNews. Payable on April 15, 2016 to shareholders of record as of the close of business on April 1, 2016, Drew’s CEO, …
