Origination News reports the Consumer Financial Protection Bureau (CFPB) is continuing to test the new mortgage disclosure forms, this time with actual consumers in Springfield, MA. The agency wants to make certain that consumers understand the differences between two distinct but competing adjustable rate mortgages (ARMs): One that adjusts every …
The Staten Island Advance reports the multi-story modular apartment building being assembled in Tompkinsville, New York, is attracting quite a bit of attention. Funded with a mix of government subsidies and private investment, the project will be managed by the Community Agency for Senior Citizens (CASC). A collaboration of the …
The Lebanon Daily News in Lebanon, PA reports the residents of Northcrest Acres manufactured home community have won their lawsuit against community owner Palmyra Homes, Inc., which sought to force them to change the heating system in their homes as part of a new lease agreement. Most of the 200 …
WNDU-TV reports from Elkhart County, Indiana, that Hi-Tech Housing, Inc. will double its employee roster to meet the Federal Emergency Management Agency’s (FEMA) demand for 500 additional emergency housing units for North Dakota residents routed by the flooding of the Souris River this past spring. Based in Bristol, IN, this …
Northern Indiana factory builder gets temporary shot in the arm Read More
The Dow nudged up one-quarter of a percent (+29.82 points) for the trading day, closing at 11,894.44, as cautious investors turned to gold and bond stocks. The Yahoo! Manufactured Housing Composite index also rose, moving up 3.14% to finish at 1051.30. Several housing stocks regained lost ground for the day. …
Dow Ends Eight Day Slide as Many Housing Stocks also Gain Read More
PRNewswire states that global tax services provider Ryan reports Wisconsin’s Governor Scott Walker signed the Assembly 40 budget bill that will change certain tax laws. Included is a provision that specifically exempts manufactured and modular housing from sales tax when it is sold in Wisconsin but used beyond state borders. …
New State Law Exempts HUD and Mod Homes from Sales Tax Read More
The New Haven Independent in Connecticut asserts that Garden Homes Management Corporation has plans to develop two manufactured home communities in Oxford. The filing with the Planning and Zoning Commission for the first proposal, called Oxford Commons, would have 99 multi-section manufactured homes on 32 acres. The second project, Donovan …
Slowdown in manufacturing and concerns about the stymied debt ceiling talks sends the Dow down 1.59 percent to close at 12,302.55. Housing stocks closed mixed, although several took a fall as well. Berkshire Hathaway (parent of Clayton Homes) lost 1.09 percent, Cavco nudged up .49 percent, Deer Valley closed flat. …
Bloomberg News reports that Bank of America (B of A), the nation’s largest mortgage servicer, has a solution for disposing of the worst abandoned and foreclosed homes. B of A will work with a local agency in Cleveland to demolish 100 homes. Gus Frangos, president of the Cleveland-based Cuyahoga County …
Proven Method of Ridding the Market of Unwanted Foreclosed Homes: Bulldoze Read More
Zacks Investment Research reports SmarTrend issued an uptrend for Sun Communities, Inc., (NYSE:SUI) June 20, 2011, and since then the stock has risen 3.3 percent. For the second quarter 2011, analysts expect a loss of .12 cents per share on sales of $53 million to be announced July 28, 2011. …
The Dow dropped 88.36 points as investors watched the debt ceiling debate rage on to close at 12,592.80. The Manufactured Housing Composite dropped 1.99 percent to 1032.50, as several housing stocks closed down. Palm Harbor Homes gained 38.46 percent. Drew Industries fell 3.26 percent, UMH dropped 2.86 percent, Skyline Corporation …
Dow Closes Down Slightly, as Several Housing Stocks Follow Read More
The Rome News Tribune reports from Floyd County in northwestern Georgia that the Floyd County Board of Commissioners will pass an ordinance extending the time manufactured housing may be used in times of declared disaster. Following a disaster in the county, the amendment will permit a person to live in …
County Approving Amendment to Allow MH Following Disaster Read More
Bloomberg reports a Washington, D.C. U.S. Court of Appeals ruling may forestall implementation of some Security and Exchange Commission’s (SEC) Dodd-Frank Act regulations, enacted over a year ago. Business groups had challenged a rule dealing with access to company board positions, and the costs associated with fending off investors’ attempts …
Federal Ruling may Setback back Dodd-Frank implementation Read More
Sources tell MHMSM.com that organizers for the Great Southwest Home Show (GSWHS) are considering two key moves. One is a change of dates, the other a possible change of venue. One possibility mentioned is to have the GSHW Show in February. “That would take the show out of competition …
The Dickinson Press in Dickinson, North Dakota, reports a modular housing complex to house workers for an oil company will be constructed on the grounds of the old Fryburg School. Energy Resource Group received a special use permit from the Billings County Commission for the project that will house 200 …
Modular Housing for Oil Field Workers Rising in ND Read More
The Minot Daily News says engineers from Verendrye Electric Cooperative are working on a plan for 200 home sites east of Minot, North Dakota, for evacuees of the Souris River flooding in late June. Several of the Federal Emergency Management Agency (FEMA) manufactured homes have already arrived at a staging …
The Dow fell .34 percent for the day, nudged down by industrial giant Caterpillar, closing at 12,681.16, but finished strong for the week. The Manufactured Housing Composite lost 3.22 percent to close at 1053.50, as housing stocks had a mixed day. Palm Harbor Homes gained 21.50 percent, Nobility Homes climbed …
Dow Falls for the Day, but Gained 1.6 percent for the Week. Read More
The Manufactured Housing Institute (MHI) newsletter this week states Henry Czauski, the new Acting Deputy Administrator of the HUD Manufactured Housing Program, spent several hours visiting a manufactured housing plant and retail store in Pennsylvania. Accompanied by MHI staff as well as officials from the Environmental Protection Agency’s (EPA) Energy …
HUD’s Manufactured Housing Program Director Tours MH Plant Read More
Federal Criminal Defense Lawyers reports that Philip R. Lochmiller, Sr., has been convicted by a jury in Denver, Colorado’s Federal Court on charges of defrauding 400 people out of $30 million. Convicted of conspiracy, money laundering conspiracy, money laundering and mail fraud, Lochmiller engineered a Ponzi scheme using manufactured housing …
Jury Finds Philip Lochmiller, Sr., Guilty as Charged Read More
Second Act says Harvard University’s Joint Center for Housing Studies predicts the number of houses headed by persons over 65 will jump 35 percent in the next ten years as Baby Boomers age. Most seniors prefer to age in their own homes, or downsize and move to be near family, …
Aging in Place Boomers Will Require Home Modifications Read More
