Business Archives

Jul 30 2016July 30, 2016

CFPB Tries to Clarify Know Before You Owe, but Lenders Still See Glitch

By Matthew Silver / July 30, 2016 July 30, 2016 / Business, Finance, home buyers, Legal, Manufactured and Modular Housing News, regulation

In an attempt to provide more clarity to lenders on the Consumer Financial Protection Bureau(CFPC)’s “Know Before You Owe” mortgage disclosure rule, the agency has proposed “additional tolerance provisions, clarified a partial exemption for housing finance agencies, extended the rule’s coverage to all cooperative units, and provided more clarity …

CFPB Tries to Clarify Know Before You Owe, but Lenders Still See Glitch Read More

Jul 29 2016

Patrick’s Sales Rise 35% in Q2; NOI Increases 37%

By Matthew Silver / July 29, 2016 July 29, 2016 / Business, Company News, Manufactured and Modular Housing News, Manufactured Homes, RV

Patrick Industries, Inc., a component supplier to the manufactured housing (MH) and recreational vehicle (RV) industries, reported a 35 percent increase in net sales for Q2 2016 over the same period of 2015, $233.5 million to $315.2 million. While the increase was mostly attributable to a 33% rise in the …

Patrick’s Sales Rise 35% in Q2; NOI Increases 37% Read More

Jul 29 2016

NeighborWorks Achieving Excellence Program Teaches Leadership

By Matthew Silver / July 29, 2016 July 29, 2016 / Announcements, Business, Manufactured and Modular Housing News, People

Chris Nicely, CEO of Next Step Network, a nonprofit supporter of affordable housing based in Louisville, KY, is one of 50 national leaders to have been chosen to participate in NeighborWorks Achieving Excellence Program, conducted at the Kennedy School of Government at Harvard university. Partly funded by the JPMorgan Chase …

NeighborWorks Achieving Excellence Program Teaches Leadership Read More

Jul 29 2016

Carlyle Group Leads Gainers; MHCV Slips to 1380.4

By Matthew Silver / July 29, 2016 July 29, 2016 / Business, Manufactured and Modular Housing News, Stocks

In the news from CNNMoney: U. S. economy grew only one percent in first half of 2016, well below the 2.4 percent growth last year. Florida’s tourism could be hurt by threat of Zika virus. Microsoft cutting 2,850 more jobs. Exxon profits fall 59 percent to 17-year lows. Moodys says …

Carlyle Group Leads Gainers; MHCV Slips to 1380.4 Read More

Jul 29 2016

Sun Communities Stock hits New High, but Projected Higher

By Matthew Silver / July 29, 2016 July 29, 2016 / Announcements, Business, Communities, Company News, Manufactured and Modular Housing News, Manufactured Homes, RV

As the stock of Sun Communities, Inc. (NYSE:SUI) reached a new 52-week high on Wed., July 28 of $77.90, it has a forecasted target of $130.09, a 67 percent increase over today’s closing, a value that would increase the worth by $3.56 billion, giving it a total value of $8.88 …

Sun Communities Stock hits New High, but Projected Higher Read More

Jul 29 2016July 29, 2016

Robotic Bricklayer Lays 225 Bricks/Hour. On Tap: 1000 Bricks/Hour

By Matthew Silver / July 29, 2016 July 29, 2016 / Business, Company News, Factory-Built Homes, Manufactured and Modular Housing News, Modular, Small Business, Trends

Fastbrick Robotics in Perth, Australia has developed a robotic arm that can lay brick at the rate of 225 standard bricks an hour, the equivalent of half a day’s work for a top human bricklayer. It is a form of 3D printing, creating the shell of a house without human …

Robotic Bricklayer Lays 225 Bricks/Hour. On Tap: 1000 Bricks/Hour Read More

Jul 28 2016

Desire for Home Ownership Remains Strong

By Matthew Silver / July 28, 2016 July 28, 2016 / Business, Economy, home buyers, Manufactured and Modular Housing News, Trends

According to the Morning Consult Poll, buying a home remains a top priority for an overwhelming majority of Americans, according to what thehill tells MHProNews. Further, the National Association of Home Builders (NAHB) reports 82 percent of respondents feel owning a home is still a good investment. “The survey shows …

Desire for Home Ownership Remains Strong Read More

Jul 28 2016

Singapore Building Four Blocks of Modular Housing

By Matthew Silver / July 28, 2016 July 28, 2016 / Business, Company News, Manufactured and Modular Housing News, Modular

MHProNews has learned from businesstimes.sg that construction company BBR Holdings has secured a S$57.6 million ($77.9M USD) contract to supply four blocks of modular housing along Upper Aljunied Road in Singapore. The company detailed this after trading ended Tuesday in a filing to the Singapore Exchange. Through its wholly owned …

Singapore Building Four Blocks of Modular Housing Read More

Jul 28 2016

NorthStar Tops MH-related Gainers; UFPI Slips -0.99 Percent

By Matthew Silver / July 28, 2016 July 28, 2016 / Business, Manufactured and Modular Housing News, Stocks

In the news from CNNMoney: Ford waves a caution flag on American car sales. Chipotle will now make burgers. Chicago TV news anchor quits to drive Lyft full time. One third of Monaco’s residents are millionaires. Whole Foods struggles to get back on its feet. Argentina is the next hot …

NorthStar Tops MH-related Gainers; UFPI Slips -0.99 Percent Read More

Jul 28 2016July 29, 2016

While Negative Perceptions of MH Persist, the Industry Grows says Seeking Alpha

By Matthew Silver / July 28, 2016 July 29, 2016 / Advocacy, Business, Communities, Company News, Economy, home buyers, Manufactured and Modular Housing News, Manufactured Homes, RV, Trends

The glitz and glamor that attach to an ownership interest in businesses such as hotels, a race track or a small chain of upscale restaurants suddenly tarnishes for some when the investment being considered is manufactured home communities (MHCs). While many think of them as “mobile home parks,” or in …

While Negative Perceptions of MH Persist, the Industry Grows says Seeking Alpha Read More

Jul 28 2016

Pending Home Sales Index Inches Up in June

By Matthew Silver / July 28, 2016 July 28, 2016 / Business, Economy, home buyers, Manufactured and Modular Housing News, Trends

The National Association of Realtors (NAR) informs MHProNews June’s Pending Home Sales Index rose slightly from May, and now is at 111, its 26th consecutive month of reading above 100, the baseline used from 2001 when the index began. Any number above 100 means that homes are going to contract …

Pending Home Sales Index Inches Up in June Read More

Jul 27 2016

Patrick Industries Moves Up; Nobility and Carlyle fell the Most

By Matthew Silver / July 27, 2016 July 27, 2016 / Business, Manufactured and Modular Housing News, Stocks

In the news from CNNMoney: Owner of ClintonCaine.com wants $90,000. Federal Reserve not set to raise interest rates this summer. Alabama is so broke it may begin a state lottery. Top paid CEOs not very competent, while complaining about wages paid to employees. U. S. is cracking down on anonymous …

Patrick Industries Moves Up; Nobility and Carlyle fell the Most Read More

Jul 27 2016

Maine Manufactured Home Community Expanding

By Matthew Silver / July 27, 2016 July 27, 2016 / Business, Communities, Legal, Manufactured and Modular Housing News, Manufactured Homes

The Belfast, Maine Planning Board will consider the expansion of Penobscot Mobile Home Park from 20 homes sites to 34, as waldo.villagesoup informs MHProNews. The new owner of one year, Connecticut Property Management LLC, has 21 acres, including a large wetlands area, and intends to use part of the property …

Maine Manufactured Home Community Expanding Read More

Jul 27 2016

Site-built Home Sales Looking Good. Can it Continue?

By Matthew Silver / July 27, 2016 July 27, 2016 / Business, Economy, home buyers, Manufactured and Modular Housing News, Trends

With the unemployment rate at 4.9 percent, benchmark 30-year fixed rate mortgage rates at 3.45 percent, down from 4.04 percent a year ago, 287,000 new hires in June, a 6.4 percent increase in new home sales year to date, and 1.6 percent growth May to June, one might think the …

Site-built Home Sales Looking Good. Can it Continue? Read More

Jul 27 2016July 27, 2016

Commodore Corporation Acquires Canadian American Homes of Wis.

By Matthew Silver / July 27, 2016 July 27, 2016 / Announcements, Business, Canada, Company News, Factory-Built Homes, Manufactured and Modular Housing News, Manufactured Homes, Modular

MHProNews has received word from Goshen, Indian that The Commodore Corporation (TCC) has acquired the assets of Canadian American Homes of Dorchester, Wisconsin, and will begin production of HUD Code and modular homes under the MidCountry Homes brand. Now in its 65th year serving 32 states, TCC is a family-owned …

Commodore Corporation Acquires Canadian American Homes of Wis. Read More

Jul 26 2016

MHARR Continues Tirade over HUD/MHI/DOE Collusion

By Matthew Silver / July 26, 2016 July 26, 2016 / Advocacy, Business, home buyers, Legal, Manufactured and Modular Housing News, Manufactured Homes

The Manufactured Housing Association for Regulatory Reform (MHARR) tells MHProNews the manufactured housing division at HUD waited beyond the last minute allowed to call for an Aug. 9 conference call of the Manufactured Housing Consensus Committee (MHCC) to discuss the Department of Energy’s (DOE) proposed rules. The Federal Advisory Committee …

MHARR Continues Tirade over HUD/MHI/DOE Collusion Read More

Jul 26 2016July 25, 2016

First Nation People in Canada getting Modular Container Homes

By Matthew Silver / July 26, 2016 July 25, 2016 / Business, Canada, Communities, Factory-Built Homes, Manufactured and Modular Housing News, Modular, People

A pilot project that will repurpose shipping containers into modular homes for First Nations reservations in Alberta, Canada has begun with a ground-breaking ceremony 55 miles southwest of Calgary at Eden Valley. Bearspaw First Nation Chief Darcy Dixon and council members Rex Daniels and Larry Daniels were joined by representatives …

First Nation People in Canada getting Modular Container Homes Read More

Jul 25 2016

Sun Communities Draws Hedge Fund Investors

By Matthew Silver / July 25, 2016 July 25, 2016 / Business, Communities, Company News, Manufactured and Modular Housing News, Manufactured Homes, RV

MHProNews has learned hedge fund Geode Capital Management LLC upped its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 7.2 percent in Q1 2016, as reported to the Securities and Exchange Commission, according to cerbatgem. After buying an additional 31,936 shares during the first period, Geode now owns 473,079 …

Sun Communities Draws Hedge Fund Investors Read More

Jul 25 2016

One Percent Down Could Put You in a Home

By Matthew Silver / July 25, 2016 July 25, 2016 / Business, Finance, home buyers, Manufactured and Modular Housing News, Manufactured Homes

According to nationalmortgagenews, Chicago-based retail originator Guaranteed Rate has been offering 1% down mortgages through a new nationwide program. Called Double Match, the additional two percent is available through a down payment assistance program, and is completely forgivable for qualified borrowers. MHProNews understands the plan is applicable to condos, town …

One Percent Down Could Put You in a Home Read More

Jul 25 2016July 25, 2016

Dow Jones Slips; MH-related Stocks Similarly Quiet

By Matthew Silver / July 25, 2016 July 25, 2016 / Business, Manufactured and Modular Housing News, Stocks

In the news from CNNMoney: British retail magnate Sir Philip Green may lose knighthood for collapse of BHS store, resulting in $750 million loss from pension funds. Women talk abut sex more than money. Some CEOs complain higher wages are hurting corporate profits. Typical wage now is $828/wk, according to …

Dow Jones Slips; MH-related Stocks Similarly Quiet Read More

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