Concerns over the business impact of the freshly struck federal debt ceiling limit deal in DC sent stocks tumbling yet again. The Yahoo! Manufactured Housing Composite index followed the broad decline, dropping -2.81% to close at 1019.30. Berkshire Hathaway, parent of Clayton Homes, Vanderbilt Mortgage and Finance, and other manufactured …
Stocks tumbled again, Manufactured housing stocks follow Read More
BusinessWeek reports that Palm Harbor Homes Inc. plans to file a Chapter 11 plan by the end of this week. Palm Harbor sold assets to Fleetwood Enterprises Inc. in April for $83.9 million. Palm Harbor pleadings to the bankruptcy court to extend exclusive filing rights until Aug. 8. The company …
TheStreet and NuWireInvestor report that provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act set the stage for higher minimum down payment requirements. The National Association of Realtors (NAR) and 44 other organizations criticize changes that can raise down payments to 20% minimum or more. These fuels fears …
Mortgage Bankers and National Association of Realtors push to modify Dodd-Frank Read More
HousingWire reports that First Guaranty Mortgage Corp (FGMC) is moving more into correspondent lending. This is a lending arena hit hard following the housing bubble burst in recent years. FGMC plans wholesale and retail originations under one umbrella, dubbed the Correspondent’s Edge. This niche-focused lending initiative will include manufactured housing …
Niche lender will include manufactured homes in their lending mix Read More
BusinessWire reports that on August 1, 2011 Equity LifeStyle Properties, Inc. (NYSE:ELS), closed on 16 more properties in the acquisitions from Hometown America. The purchase price on those properties is approximately $436 million. As previously reported on MHMSM.com, on July 1, 2011 the Company closed on 35 of the acquisition …
Equity Lifestyle Properties closes on 16 more manufactured home communities Read More
The Dickinson Press reports that Centennial Homes, a large regional manufactured home retailer, has opened a new location in Dickinson, ND. “We have every price point you can think of to cover everybody’s wants and needs,” said Randy Rempher, regional manager. The Aberdeen SD based company has some 20 display …
Centennial Homes opens in Dickinson to serve area boom Read More
Money Talk radio show host Bob Brinker called it two weeks ago, saying that the debt ceiling would be raised and that everything else going on in DC was political theatrics. Home Depot and Merck lead stocks lower, with a brief rally caused by news of a debt ceiling deal …
Debt Ceiling Deal: Money Talk’s Brinker called it two weeks ago Read More
TampaBayOnline reports Hynes Discount Mobile Home Supply in Zephryrhills has a sort of local celebrity. Jimmie Harper Jr. often works the counter shirtless with a cowboy hat. Save on cold days, for most of the past 6 years, Harper has scoffed covering his chest. “It’s hot,” says the 37 year …
Shirtless ‘business causal’ irks men, attracts ladies to FL MH supply business Read More
The Atlanta Journal Constitution carried a recent column by professor Seth Weissman, a real estate attorney and adjunct professor of city planning at George Institute of Technology. Weissman’s column states that approximately 30% of all mortgages are now under water. This drives down value and causes walk away foreclosures. “The …
Faulty federal approach hampers housing market recovery Read More
BankInvestmentConsultant reports Republicans have moved from a strategy of repealing Dodd-Frank to amending it. The shift in GOP strategy is a result of a generally popular piece of financial reform legislation coupled with a lack of control of the U.S. Senate. Presidential contender Rep. Michelle Bachmann (R-MN), introduced a repeal …
NorthJersey reports that higher down payments and rising mortgage rates for upper end homes starting Oct 1, 2011. That is the day when the Federal Housing Administration (FHA) is currently set expire, returning to a maximum of $625,000. That will place a $750,000 home, such as the one photographed, in …
Coalition to plead for extension on FHA loan limits Read More
Informed sources tell MHMSM.com that organizers for the Great Southwest Home Show (GSWHS) are close to making a new deal for a 2012 event. “We are now reviewing a contract at the Expo for March 1-2 for Trade and 3-4 for public days.” one source stated. “March 1 & 2 …
CNNMoney reports stocks dropped sharply by the end of Friday’s trading session. Today marked the worst weekly performance in over a year. Investors jitters increased over Washington’s failure to date to raise the debt ceiling. The Dow Jones industrial average fell 97 points, or 0.8%, to close at 12,143. Many …
Dennis Hill of Show Ways Unlimited, coordinator for the 2012 Louisville Manufactured Housing Show, has announced the appointment of L. A. ‘Tony’ Kovach to the role of show seminar coordinator. In a e-statement today, Hill wrote: “Tony, I am very glad that you are going to assume responsibility for putting …
2012 Louisville Show seminar coordinator appointment announced Read More
RealEstateRama states that U.S. Housing and Urban Development Secretary Shaun Donovan announced the availability of $95 million to support sustainable local initiatives through the FY 2011. The money is available through the Regional Planning and Community Challenge Planning Grant Programs from HUD’s Office of Sustainable Housing and Communities. Awarded competitively, …
HUD’s Donovan announces $95 million for grant programs Read More
PRNewswire released Patrick Industries (PATK) second quarter results. The company is a major manufacturer and distributor of building and component products for the recreational vehicle (“RV”), manufactured housing (“MH”) and industrial markets. Patrick reported net income of $3.7 million or $0.36 per diluted share on net sales of $82.6 million, …
Patrick Industries second quarter results released Read More
PRWeb reports that Harford Village, a manufactured home land-lease community of over 480 sites, opened a new residents recreational center. New amenities including a swimming pool and children’s playground. A new community center is also available for resident’s use. Sue Edgeworth, the community manager, said: “With all this record-breaking heat, …
Maryland manufactured home community opens million dollar residents center Read More
IAMHA executive director Joe Kelly tells MHProNews.com that the Iowa Supreme Court decision has come down today in a case important to those seeking to transition manufactured home communities into resident owned communities. The Board of Review of Jasper County, Iowa, sought further review of the court of appeals decision …
Supreme Court ruling benefits Communities seeking Coop Status Read More
As the debt ceiling issue rages on in DC, the Dow dropped just over half a percent to close at 12,240.11, off by – 62.44. Manufactured housing stocks had mixed results. Overall the Manufactured Housing Composite Index rose +0.82% to 1018.70. Clayton’s parent Berkshire Hathaway closed 112,336.00, up $286 or …
Debt Ceiling Talks Drops Dow, Manufactured Housing stocks mixed Read More
LoanSafe reports a former mortgage broker and the owner of a defunct manufactured housing dealership in Conway SC pleaded guilty to felony mortgage fraud charges today in federal court in Florence. Michael Fortenberry, the mortgage broker, and Glenn Vaught, former owner of G&E Home Sales, pleaded guilty to one charge …
Former Mortgage Broker and Manufactured Home Dealer Plead Guilty Read More
