Stocks rose on news the stalemate in Washington between the administration and Congress has eased with the possibility of resolution before the Jan. 1 deadline’s fiscal cliff. CNNMoney reports the Dow Jones Industrial Average gained 0.76 percent, +100.38 points, ending the day at 13,235.39. The Nasdaq moved up 1.32 percent, …
Following up on an article we last posted Dec. 13, 2012, a Cavco Industries facility in Rocky Mount, Virginia is providing a foundation in New Milford Conn. with 30 manufactured homes. Named for a firefighter who died at the Twin Towers Sept. 9,2011, the Stephen Siller Tunnels to Tower Foundation …
Pionline reports the University of Michigan (UM) in Ann Arbor has committed $40 million of its $8 billion endowment to three alternative investment firms, one of which is Lake Forest, Ill.-based Green Courte Partners, LLC. Green Courte received $5 million in conjunction with The Parking Spot, a new real estate …
U.S. stocks finished the day down due to a continuing impasse in Washington between the White House and Congress over the fiscal cliff issue that needs to be resolved before year’s end. CNNMoney reports the Dow Jones Industrial Average dropped -0.27 percent, -35.71 points, ending the day at 13,135.01. The …
At the top of the Manufactured Housing Institute (MHI)’s Week in Review newsletter Dec. 14, 2012, is news of a scam that some of the Congress and Expo’s exhibitors have received. Purporting to be part of MHI, Construct Data Publishers offers a listing in a “FAIRGuide” and a free listing …
HousingWire reports the Consumer Financial Protection Bureau (CFPB) wants banks to test run some of the mortgage disclosures for consumers required by the Dodd-Frank Wall Street Reform Act before forcing them to fully comply, an idea attractive to the market. This collaborative approach will inform consumers on making good decisions, …
To follow-up on a story we posted Dec. 12, 2012, the underwriters for Killam Properties, Inc.’s public offering quickly took advantage of the opportunity to purchase an additional 375,000 shares of Killam’s common stock at $12. per share. Led by RBC Capital Markets, the public offering closed Dec. 10, 2012, …
ModularHomeCoach tells MHProNews Heritage Harbor in Ottawa, Ill. along the Illinois River has chosen Homeway Homes of Deer Creek, Ill. to build 30 one and two story modular vacation homes within their village development. “The Cottages at Heron’s Landing” will feature three different styles priced from $139,900 to $199,900. (Photo …
The falling of initial jobless claims and rise in retail sales for November did not offset the ongoing concern about negotiations in Washington that are not going well regarding the impending fiscal cliff. CNNMoney reports the Dow Jones Industrial Average dropped -0.56 percent, -74.73 points, ending the day at 13,170.72. …
Weary of Washington Negotiations, Stocks Nudge Down Read More
Originationnews reports the Mortgage Bankers Association (MBA) states origination profits per loan rose 15 percent in the third quarter over Q2, 2012 to $2,465 for each loan. The study zeroes in on small, independent mortgage banking firms, not any of the mega-banks. While costs have increased slightly, Bob Garrett of …
The Wall Street Journal says as interest rates remain low and the housing recovery continues to pick up, more people will be buying traditional houses instead of manufactured homes. Citing the drop in production of manufactured homes the last two months following 16 months of consecutive industry growth, and the …
Following up on a story about the proposed development of an 11 unit modular housing project we posted Nov. 22, 2012 in Ridgefield, Conn., where neighbors criticized the plan over aesthetic and drainage issues, the developer has made revisions. The RidgefieldPress tells MHProNews the number of units on this four-tenths …
The World Property Channel reports China is backing the development of 20,500 homes in San Francisco to the tune of $1.7 billion, a development project at two former naval bases that will hire 5,000 over a six year period. Borrowing the money is Miami-based Lennar Corp.; terms were not disclosed. …
Notching the largest block of its own stock the company has ever bought, Warren Buffett’s Berkshire Hathaway (BRKA) bought 9,200 shares for $1.2 billion from the estate of a long-time shareholder. At $131,000 per share, it’s roughly 118 percent of the book value as of the end of the third …
The Federal Reserve’s quantitative easing policy will continue, according to Fed Chairman Ben Bernanke, but that was not enough stimulus to stimulate investors’ appetites as two of the three major indexes closed flat on hump day. CNNMoney reports the Dow Jones Industrial Average dropped -0.02 percent, -2.99 points, ending the …
In legislation passed this week by the House of Representatives, nationalmortgagenews says confidential information submitted by banks and thrifts to the Consumer Financial Protection Bureau (CFPB) will be protected, but nonbanks in some states are not included. Independent mortgage banks, payday lenders and finance companies are regulated by consumer agencies …
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After dropping year-over-year in 2008 and 2009, HousingWire says multifamily rentals have been rising since 2010, “leading the housing recovery in duration and strength,” according to the CoreLogic Home Price Index’s Dec. report. The property analytics firm states, in the wake of the housing market crash, residential investment is contributing …
On the heels of a strong 2012, nationalmortgagenews reports Freddie Mac’s chief economist Frank Nothaft predicts single-family loans will decline about 15 percent in 2013 as refinancings recede and home purchases decrease. Noting many borrowers have already taken advantage of low rates this year, Freddie forecasts refinancings will account for …
mmaltzan reports the Skid Row Housing Trust in Los Angeles is adding 102 modular housing units for homeless persons to an existing single-story building, called the Star Apartments at Sixth and Maple. The mixed use building, designed by architect Michael Maltzan, encompasses 95,000 square feet and will have retail on …
Killam Properties, Inc. (TSX:KMP) of Halifax, Nova Scotia, Canada announces it has closed its public share offering of 2,500,000 common shares at a price of $12. per share to achieve its goal of $30 million. According to 4-traders, the eleven underwriters were lead by RBC Capital Markets, and have an …
