Manufactured home (MH) retailer Wisdom Homes of America, Inc. (OTCQB: WOFA), based in Tyler, Texas, is teaming up with Sherman Countryside, LLC to sell MH to consumers who will purchase homesites on land developed by Sherman in six subdivisions comprised of 185 developed lots in Sherman, Texas. Wisdom Homes will …
Wisdom Homes Offering Land-Home Package Deal for Manufactured Homes Read More
Capital One Multifamily Finance secured an interest rate of 4.15 percent in arranging a $5 million Fannie Mae fixed-rate loan for the acquisition of Idle Wheel Mobile Home Park in Woodland, California. According to abladvisor, Damon Reed, Sr. Vice President and Capital One Multifamily’s Director of MHC Finance, arranged the …
While he supports free enterprise in the mortgage market, former Ginnie Mae President Joseph Murin, in a blog on housingwire, says without the federal guarantee offered by the Federal Housing Administration, the Department of Agriculture and Veterans Administration mortgages, the U. S. economy may have fallen farther than it did. …
Before you Dismantle Fannie Mae, Freddie Mac and Ginnie Mae……… Read More
Elkhart, Indiana-based Patrick Industries, Inc. (NASDAQ:PATK) has completed its acquisition of Structural Composites of Indiana, Inc. (SCI). Based in Ligonier, IN, SCI manufactures fiberglass components for the recreational vehicle (RV) and other industrial markets, according to prnewswire. The net purchase price of $20 million was funded by the company’s credit …
Patrick Industries Finalizes Acquisition of Structural Composites Read More
All three major indices fell over one percent in today’s trading as concerns grew over the impending rise in the interest rate, although it is not definite when the increase will hit. Meanwhile, Time Warner stock rose 7.26 percent on word Charter Communications intends to buy the conglomerate for $55 …
Dow, Nasdaq, and S&P 500 Tumble on Fears of Rate Hike Read More
U. S. Senator David Perdue (R-GA) has introduced legislation to make the Consumer Financial Protection Bureau (CFPB) more accountable by bringing it under the Congressional appropriations process and thereby give it Congressional oversight, according to nationalmortgageprofessional. The CFPB is currently under the Federal Reserve which is beyond the each of …
Georgia Senator Introduces Measure to Harness CFPB Read More
The residents of Firwood Lane Mobile Home Park in Kirkland received notice they have one year to move from their 32 homesite manufactured home community (MHC) as the result of a change in ownership. The new owners, PSW Real Estate, intend to built 19 new homes valued at $700,000 to …
While 90 shipping containers have been repurposed to make the Salam Centre for Cardiac Surgery in Khartoum, Sudan, and 86 containers have created the eight-story Travelodge Uxbridge Central Hotel in London, they are being reinvented in the Tampa Bay (FL) area as modular taverns and restaurants. Tampa architect Brandon Hicks …
Component supplier to the manufactured housing (MH) and recreational vehicle (RV) industries, Patrick Industries, Inc. (NASDAQ:PATK) stock will split 3-2 on the morning of Monday, June 1, 2015, according to what dakotafinancialnews tells americanbankingnews. Shares will be issued to stockholders following the close of the market Friday, May 29. Patrick …
Manufactured Housing Component Supplier Patrick Splitting Stock Read More
MHProNews has learned Drew Industries, Inc. (NYSE:DW) President Scott T. Mereness sold 3,803 shares of company stock at $63.50 a share for a total value of $241,490.50, as disclosed in a filing with the Securities and Exchange Commission (SEC). It was not immediately known how many shares Mereness continues to …
In this week’s News: Despite Zoning, MH would be Replaced. Modular Housing adding up. Builder Confidence Slips. Aries Mods in NC. Art’s Way Honored. Deer Valley Stock Zooms. Owning Cheaper than Renting. Good Housing Deals in Rust Belt. Rent Stabilization Extended. Mainstream Media Hinders MH Buyers with no Recourse. Correct …
Couple leave $850,000 estate to U. S. government, Bernie Sanders proposes breaking up the big Wall Street banks, gas prices are expected to fall this summer, and stocks of theme parks are on the rise. Meanwhile, the Yahoo Manufactured Housing Composite Value (MHCV) gained 1.11 percent, to close at 651.1. …
MHCV Outpaces the Dow as Stocks Remain Quiet Ahead of Memorial Day Read More
MHProNews has learned that the stockholders of Drew Industries, Inc. (NYSE:DW) have voted two new members to its board of directors. Frank Crespo and Kieran O’Sullivan will be joining James Gero, Jason Lippert, Leigh Abrams, Frank Hegi, David Reed, Jack Lowe and Brendan Deely. Crespo is Vice President and Chief …
Drew Industries, Inc. Adds Two to Board of Directors Read More
The Manufactured Housing Institute (MHI) informs MHProNews that the Senate Banking Committee passed regulatory relief legislation that had been drafted by Committee Chairman Richard Shelby (R-AL). The 12-10 vote along party lines represents the most significant change to Dodd-Frank since it was enacted. Section 108 of the bill includes provisions …
Senate Banking Committee Passes Manufactured Housing Finance Reform Read More
In the news: Cuba opened a bank account in the U. S., wealthiest U. S. Congressman Darrell Issa says U. S. poor are the envy of the world, June interest rate hike not likely, Japan’s economy notches strong first quarter, and shares of Best Buy were up four percent in …
Dow, Tracked Manufactured Housing Stocks, Move Little Read More
Cavco Industries, Inc. (Nasdaq:CVCO) will release its earnings for the fourth quarter of fiscal year 2015 on Thursday, May 21 after the close of the market, according to nasdaq. The results will be discussed the following day, Friday, May 22 2015 in a live webcast at 1 PM eastern daylight …
MHProNews has learned Franklin Management Group of Newport News, Virginia has arranged $18.8 million in refinancing for five of the more than 20 manufactured home communities (MHCs) it owns. The long-term fixed rate non-recourse recapitalization was arranged by CBRE (Coldwell Banker Richard Ellis)-Hampton Roads. The five properties, comprising 2,600 homesites, …
CBRE Arranges Refinancing for Manufactured Home Communities Read More
Following a story covering some 18 years legal wrangling by the residents of Naples Estates manufactured home community (MHC) in Florida to buy their community, as MHProNews last reported Oct. 8, 2014, a state appeals court upheld the ruling of a lower court affirming the homeowners right to purchase their …
Residents Finally Win Right to buy Manufactured Home Community Read More
The Manufactured Housing Association for Regulatory Reform (MHARR) informs MHProNews that the Department of Housing and Urban Development (HUD) has terminated the dispute resolution (DR) subcontract the Savan Group, LLC has enjoyed with the manufactured housing program contractor, the Institute for Building Technology and Safety (IBTS). MHARR pointed out in …
HUD Terminates Contractual Relationship of Savan and IBTS Read More
In the news: Egg prices have risen due to the bird flu necessitating the slaughter of millions of chickens and turkeys, while, in an ironic twist, bacon has fallen 25 percent. Los Angeles is raising minimum wage to $15/hr, and Home Depot experienced increased sales for the three months ending …
Manufactured Housing Stocks Relatively Quiet Today Read More
