CNNMoney reports the housing market vacancy rate for the U.S. stands at 11.4 percent, according to Census Bureau records. Vacancies include abandoned homes, which contribute to lowering sale prices, but Census Bureau statistics include any home not occupied, which would count vacation homes and ski lodges that real estate statisticians …
Census Bureau Notes States with Highest, Lowest, Home Vacancies Read More
In a related development to the previous story on the mortgage servicers’ scorecard, HousingWire said 50 Democrats signed a letter sent to Treasury Secretary Timothy Geithner outlining changes that should be made to the Home Affordable Modification Program (HAMP). These include not doing a foreclosure and loan modification program at …
HousingWire reports that the Treasury Department will begin grading mortgage servicers in April as to their performance through the Home Affordable Modification Program (HAMP). Assistant Treasury Secretary Tim Massad said a scorecard will be issued quarterly on the compliance of the ten largest HAMP servicers. Through February, 600,000 modifications to …
Mortgage Servicers to Get Scorecard on Their Performance Read More
Benzinga reports that the Katy Independent School District (Katy ISD) in Katy, Texas, is ordering 27 modular buildings to meet enrollment needs in this fast-growing suburb of Houston. Several new nearby housing developments will increase the number of families, so the district advertised for an accelerated solution to obtain classrooms. …
Expeditious Need Leads Texas School District to Modular Read More
According to Bloomberg, shipments of manufactured houses rose to a seasonally-adjusted rate of 45,000 for January, an increase of 5,000 over December. Dealer inventory was down by 1,000 units to 22,000 for the same period, and placements declined from 47,000 to 36,000 units, all seasonally-adjusted rates. The average sales price …
The U.S. Department of Housing and Urban Development (HUD) issued an announcement that section 941 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) regarding mortgage risk retention is being revamped. A proposed rule change will be in the Federal Register for public comment when the process is …
The Dow dropped 22.71 points, as news of global developments drove prices down. Housing stocks finished mixed. The Dow closed at 12197.88. Skyline Corp. closed up 1.57 percent, Cavco lost 1.71 percent, and Nobility Homes and Deer Valley remained unchanged. The Manufactured Housing Composite lost .53 percent to end the …
HQPrinceGeorge reports that Pat Bell, Minister of Jobs, Tourism and Innovation of Canada, is going to focus on lumber and wood product exports on his trip to China. Bell, the George-MacKenzie Member of Legislative Assembly (MLA), is particularly interested in exploring opportunities for selling modular housing. Ten thousand people …
British Columbia MLA Looks to Sell Modular Housing in China Read More
Bloomberg reports Walter Investment Management Corp. (NYSE: WAC) of Florida is acquiring Green Tree Credit Solutions (NYSE: GTCS), commonly known as Green Tree, of Minnesota, for $745 million. Green Tree’s $37.5 billion portfolio includes manufactured housing loans as well as consumer loans and residential mortgages. The goal stated by Walter’s …
HousingWire says one of the discussions at a Federal Deposit Insurance Corporation (FDIC) meeting with federal regulators centered on giving delinquent homeowners each $21,000 in a cash-for-keys program. The regulators are working with attorneys-general of all 50 states and major lenders to reach a settlement involving faulty affidavits used to …
Discussions Center on Resolving Mortgage Servicers’ Errors Read More
WCFCourier reports from Waterloo, Iowa, that a downtown area first platted in 1854 will be the site of a modular home development. With the exception of two homes across the street built seven years ago, the five new houses will be the first new homes built there in 85 years. …
The Star-Telegram reports that in Grapevine, Texas, an amended ordinance will impose restrictions on fences around factory-built home communities. City officials had discovered businesses operating illegally behind fences, and grass six feet tall that can harbor insects and rodents. The new ruling will allow four-feet tall fencing that is 50 …
HousingWire reports the Federal Reserve Bank of Philadelphia said residential building permits declined in Pennsylvania, Delaware and New Jersey between January and February, while nationally this figure was up 3.5 percent. Single-family permits fell 38.1 percent in Pennsylvania, 26.6 percent in New Jersey and 11.1 percent in Delaware, while rising …
Residential Building Permits Fall in Three-State Area Read More
As a follow-up to a story posted here on March 24 about steel shipping containers transformed into homes by a New York firm, The Providence Journal reports a consortium of government, academia and business elements are combining forces to convert old shipping containers into homes, much like a modular unit. …
Collaboration Converting Shipping Containers into Homes Read More
HousingWire reports that in the first two months of this year, Freddie Mac completed just over 23,000 loan modifications. The seriously delinquent rate of single-family mortgages fell to 3.78 percent in February from 3.82 percent in January. Last year, delinquencies were growing. Freddie’s single-family, refinance-loan purchase and guarantee volume dropped …
Freddie Mac Says Single-family Delinquencies Decline Read More
BusinessWire reports that three of the Modular Building Institute’s (MBI) annual World of Modular Conference Achievements of Distinction went to modular builder M Space. Receiving what is considered the top honor in the commercial modular industry, M Space took first place for their two-story New York Federal Aeronautics Administration (FAA) …
The Winnipeg Free Press says a Canadian company that has shipped nearly 12,000 manufactured homes to Japan in the past ten years, will send 200 temporary shelters within the next two weeks. Viceroy Homes, Ltd. is building a basic structure with a bedroom, kitchen and bathroom that normally sells for …
Canadian MH Builder Expects Japanese Orders to Spur Business Read More
The U.S. Department of Housing and Urban Development (HUD) issued a press release announcing the six finalists that will compete for the $61 million Implementation Grant funding through the new Choice Neighborhoods Initiative (CNI). Boston, New Orleans, Seattle, Tampa, San Francisco and Chicago submitted plans to tackle affordable housing, employment, …
HUD Announces Finalists for Choice Neighborhoods Initiative Read More
The Mount Vernon Gazette reports from Virginia that a long-awaited plan for affordable housing on North Hill will be coming to a final vote June 21 before the Fairfax County Board of Supervisors. The board first has to approve the $13 million bond issue to develop the infrastructure for the …
The Dow climbed 84.54 points to end the trading day at 12170.56. Most housing stocks also advanced on the day. Nobility Homes gained 5.57 percent, Skyline Corp. was up 3.65 percent and Cavco moved up 1.59 percent. Deer Valley was again unchanged. The Manufactured Housing Composite climbed 2.47 percent to …
