MHProNews has received a communique from the Manufactured Housing Association for Regulatory Reform (MHARR) noting a copy of a letter on the stationery of Rep. Spencer Bacchus (R-Ala.), Chairman of the House of Representatives Financial Services Committee, and Rep. Barney Frank (D-Mass.), Ranking Member of the Committee. The letter is …
Congressional Committee asks for GAO Probe of HUD MH Program Read More
SFGate reports a Massachusetts company is opening a factory on Vallejo’s Mare Island at the site of a former naval base just north of San Francisco. Close to the port of Oakland, and drawing on a nearby workforce of people skilled in home construction and high tech manufacturing, Blu Homes …
CNNMoney reports the Dow Jones Industrial Average traversed a rocky road in today’s trading, finally losing 25.65 points, to close at 12,020.03, a loss of -0.21 percent, as investors continue to worry about the European debt crisis. The Yahoo! Finance Manufactured Housing Composite Value lost a little more, -2.05 percent, …
NationalMortgageNews states the robo-signing scandal has led to such a tight pipeline in the foreclosure process that only 10,000 a month are being processed by FHA (Federal Housing Authority)-approved servicers, but that will clear as the agency pays for a surge on defaulted loans. FHA paid $14.9 billion in fiscal …
The Manufactured Housing Association for Regulatory Reform (MHARR) participated in the House of Representatives Financial Services Committee’s field hearing on “The State of Manufactured Housing” held in Danville, VA Nov. 29, 2011, submitting written testimony on the need for congressional oversight of the Housing and Urban Development (HUD)’s manufactured housing …
MHARR Pans Field Hearing: HUD is the Bigger Hurdle Read More
RealtorMag reports the inventory of homes for sale fell to its lowest level in four years in October, according to data from Multiple Listing Service (MLS). Zelman and Associates says many sellers are taking their homes off the market because they are receiving low-ball bids, and banks are in no …
CNNMoney reports the Dow Jones Industrial Average surged upwards nearly 500 points, cresting the 12,000 mark, following the Federal Reserve’s announcement that it will work with other central banks to boost the global economy. The Dow closed at 12,045.68, gaining 4.24 percent, up 490.05 points. The Yahoo! Finance Manufactured Housing …
“Wow” Went the Dow! Skyline Corp. Reached High Too! Read More
NYDailyNews reports Warren Buffett, who once said U.S. newspapers are not good investments, has changed his mind about his hometown paper. The last employee-owned major newspaper in the country, Buffett says the Omaha World-Herald “delivers solid profits and is one of the best run newspapers in America. The editorial independence …
CanadaNewswire reports Killam Properties, Inc., of Halifax, Nova Scotia, Canada has closed its public share offering of 3,256,000 shares at $10.75 per share, resulting in gross proceeds of $35 million. Killam intends to use the proceeds for future acquisitions, to pay off indebtedness, and general corporate expenses. The underwrites are …
In a follow-up to a story we wrote Nov. 28, 2011, the DecaturDaily in Alabama reports a federal judge’s temporary restraining order prohibits county officials from verifying the residency status of persons applying for a MH license. Morgan County License Commissioner Sue Baker Roan said she processed 341 applications Nov. …
At the “State of the Manufactured Housing Industry” Congressional Field Hearings in Danville, Virginia, Nov. 29, members of the House Congressional Subcommittee on Housing, Insurance, and Community Opportunity heard from a variety of persons in the MH arena. Henry Czauski, Acting Deputy Administrator for the Office of Manufactured Housing programs, …
MH Field Hearing Yields HUD, MHI, Industry, and Resident Viewpoints Read More
HousingWire reports the New York Federal Reserve says consumer indebtedness fell by 0.6 percent in the third quarter as mortgage balances and credit card limits continued declining. Total consumer debt dropped from $11.72 trillion in Q2 to $11.66 trillion the quarter recently ended. Bankruptcies fell 18.8 percent from Q3 2010, …
CNNMoney reports the Dow Jones Industrial Average spiked 291.23 points on good news of Black Friday sales, and encouraging news about the European debt crisis. The Dow closed 11,523.01, a gain of 2.59 percent. The Yahoo! Finance Manufactured Housing Composite Value gained 2.63 percent to close at 736. Most tracked …
The National Association of Home Builders (NAHB) reports the U.S. Department of Commerce says sales of new, single-family homes increased 1.3 percent in October, marking the best monthly sales pace since May, 2011. “Today’s report is right in line with our forecast for modest and gradual improvement in sales activity …
The Manufactured Housing Association for Regulatory Reform (MHARR) reports U.S. House of Representative member Barney Frank (D-Mass) has decided to not seek re-election after serving 32 years in Congress. MHARR’s communique says, “Our industry is losing a loyal congressional ally who worked across the aisle to champion the Federal Manufactured …
AccessNorthGa reports from Baldwin, Georgia, that SteelCell of North America offers modular detention units tailor-made for particular applications, whether new construction or made to fit existing prison facilities. SteelCell president and CEO Mike Smith said, “We had a recent jail build in Virginia with 324 cells and had 65 different, …
In a follow-up to a story from Nov. 25, 2011, TheWetumpkaHerald in Elnore, Alabama, reports a federal lawsuit challenging Alabama’s illegal immigration enforcement act has been filed, naming Elnore County’s Probate Judge Jimmy Stubbs and Revenue Commissioner Julie Magee as defendants. Two illegal immigrants, named John Doe 1 and John …
Alabama Illegal Immigrant Law Leads to Class Action Suit Read More
InsuranceNewsNet reports a field hearing on “The State of Manufactured Housing” will be held by the House Financial Services Committee Insurance, Housing and Community Opportunity Subcommittee Tuesday, Nov. 29, 2011 at the Danville, VA City Council Chambers at 9 AM. Scheduled witnesses include Henry Czauski, acting deputy administrator Housing and …
CNNMoney reports from Bankrate the 30-year fixed rate mortgage (FRM) dropped 0.01 percent this week over last week (Nov. 14-18) to 4.02 percent. The 15-year FRM also fell 0.01 percent to 3.37 percent during that same period. The 5/1 adjustable rate mortgage (ARM) rose to 2.97 percent from 2.96 percent. …
HousingWire reports Freddie Mac’s seriously-delinquent mortgage rate inched up 0.03 percent in October over Sept. to 3.54 percent. Meanwhile, the multi-family delinquency rate dropped to 0.31 percent from Sept.’s 0.33 percent. The overall mortgage portfolio at the government-sponsored enterprise (GSE) fell at an annualized rate of 5.22 percent last month. …
