In the news from CNNMoney: Lowest airfares in seven years this summer. French worker sues employer because his work was too boring. Elevators will one day move sideways, at an angle, even go outside a building into the city. Trump repeats unfounded story that Cruz’ father knew Lee Harvey Oswald, …
U. S. house prices rose 2.1 percent between Feb. and March, including distressed sales, and 6.7 percent between March 2015 and March 2016, according to constructiondive. Wages for would-be first time homebuyers likely did not rise that much on the year, MHProNews knows, putting a home out of reach. Reporting …
Upgrading a post from March 28, 2016 regarding the closing of the Zeta Communities modular building plant in McClellan Park in Sacramento, Calif., MHProNews has been informed Guerdon Modular Buildings in Boise, Idaho is picking up some of Zeta’s unfilled contracts. Guerdon produced the apartments for Eviva midtown apartment building …
Guerdon Modular Picks up where Zeta Communities Dropped Read More
Director Richard Cordray, of the Consumer Financial Protection Bureau (CFPB), responding to complaints regarding complying with the so-called Know Before You Owe rule for homebuyers —formally, the TILA-RESPA Integrated Disclosure (TRID) rule implemented Oct. 3, 2015 –wrote a letter to financial trades members stating the bureau is considering making “adjustments” …
Jacksonville, Fla.-based Black Knight Financial Services tells MHProNews rising home prices across the country are offsetting the advantage of low mortgage rates. The fall of interest rates 35 basis points since Jan. 1, 2016 would translate to a savings of approximately $44 dollars a month. “While borrowers might expect that …
Rising Home Prices Partially Negate Low Mortgage Rates Read More
In the news from CNNMoney: Puerto Rico’s $422 million default is largest yet. Laid off Saudi construction workers torch buses as sinking oil prices spread belt tightening. Otis Elevator reshaped cities to be elevator friendly. Gold hits five-month high, now over $1,300. Machine defeats human in foosball. Simple phones may …
Universal Forest Products Gains +8%; MHCV moves up to 1343.8. Read More
MHProNews has learned from Daniel Din, who manages the MHC (manufactured home community) Lending Program for Freddie Mac, of Grandbridge Real Estate Capital’s $3,600,000 permanent fixed-rate loan arranged for the Apache Mobile Home Park in Yucca Valley, California in San Bernardino County. Built in 1963, the 136-home site resident-owned community …
Calif. Resident-owned MHC Obtains Freddie Mac Financing Read More
Based in Bloomfield Hills, Michigan, Meritus Communities recently finalized its acquisition of Lake Villa Manufactured Home Community in Oxford Township, and said it will spend $1 million to upgrade the community beginning within 120 days, according to oxfordleader. New Manager Edith Belen, a 25-year veteran of managing manufactured home communities …
Michigan’s Meritus Acquires Lake Villa MHC, Plans Upgrades Read More
What’s New in public focused Manufactured HomeLivingNews.com Tornadoes, Hurricanes, Conventional Housing and Manufactured Homes Video Report What’s New in Manufactured Housing Industry Professional News MHC closing in Minneapolis. CFPB constitutionality challenged. MHARR, MHI spar over DTS and chattel lending. Clayton acquires another site-built home builder. Champion expanding into Kentucky. Drew …
Sunday Morning Recap-Manufactured Housing Industry News April 24-May 1, 2016 Read More
Champion Home Builders will invest $6.3 million in a manufacturing plant in Benton, Kentucky, leasing a 100,000 square foot facility and create up to 150 jobs for production of manufactured homes, according to kyforward. As encouragement to the investment in the community, the Kentucky Economic Development Finance Authority has initially …
The Lowry Grove manufactured home community (MHC) in St. Anthony, Minnesota, will be closing in a year for redeveloping, as startribune informs MHProNews. The 15 acre community with 97 factory-built homes, some pre HUD Code, follows a string of MHC closings in the northern Minneapolis metropolitan area. According to Metropolitan …
Manufactured Home Community Closing in Minneapolis Read More
MHProNews has learned from builderonline that manufactured housing giant Clayton Homes has acquired Goodall Homes of Gallatin, Tenn. as it increases its mark on the site-built home industry, having purchased site home builder Chafin Communities of Georgia last fall. Goodall has been building single-family homes, townhomes and condominiums since 1990, …
In the news from CNNMoney: NASDAQ ends week with 2.7 percent loss. $458 billion in taxes go unpaid every year. Atlantic City about to slip into default. At 2,608 days, the market upswing is second longest bull market in U. S. history. Australia intends to block purchase of huge ranch …
Louisiana Pacific Gains more than other Stocks, +2.47%; UFPI ends the week Down -5.94% Read More
On April 26, 2016 the Federal Housing Finance Agency (FHFA) held a roundtable discussion with manufactured housing industry leaders, inviting those who commented on the proposal, to get their input on the FHFA’s proposed “Duty to Serve” rule, according to the Manufactured Housing Institute‘s (MHI) Housing Alert to MHProNews. Lesli …
MHARR, MHI Spar over FHFA & Duty To Serve Manufactured Housing via GSE Chattel Lending Read More
Writing in barrons, Teresa Rivas says shares of manufactured and modular home builder Skyline Corp. have risen because of a case of mistaken identity: Sky TV is billionaire publisher Rupert Murdoch’s entertainment company, which announced in early March it was launching a new TV channel in the British Isles. Skyline …
Murdoch’s Barron’s Reports Incorrect Info about Manufactured Home Industry Read More
MHProNews has learned that Elkhart, IN-based Drew Industries, Inc. announces the refinancing of its revolving credit facility from its current $100 million that will expire in Jan. 2019, to $200 million, led by JPMorgan and Wells Fargo. The company had nothing outstanding against the $100 million at the close of …
For the first quarter of 2016, manufactured home (MH) and recreational vehicle (RV) component supplier Patrick Industries, Inc. (NASDAQ:PATK) reports sales increased $55.2 million, 25 percent, from $223.4 million to $278.6 million, largely attributable to a 25 percent increase in revenue from the RV industry. Revenue from the MH industry …
Patrick Ind. Reports Revenue Increase of 25 percent for Q1 Read More
In the news from CNNMoney: Amazon stock soars as earnings beat forecasts. Confidence in U. S. economy plunges. Delta buys 75 new Bombardier jets. Facebook will someday be worth $1 trillion. The CEO of Priceline is out following affair with employee. Billionaire Apple investor Carl Icahn dumped his Apple stock, …
Writing in nationalmortgagenews, Craig Nazzaro says there are two significant court cases now challenging the authority and structure of the Consumer Financial Protection Bureau (CFPB), both of which would have been avoided had the agency been established with a five-member commission to operate it, not a czar, and with congressional …
Challenges to CFPB Constitutionality could Create Financial Havoc? Read More
Doug Stimpson, General Manager of All American Homes in Dyersville, Iowa, said the majority of the 75 workers have been laid off pending the sale of the modular home business to another owner, according to thonline. “We have a buyer who has paid a deposit of $1 million to purchase …
Modular Builder in Iowa may Re-open with New Owner Read More
