Newtek Business Services recently announced the release of the SB Authority Index for November 2011 reaching 109.48 points. Newtek says the SB Authority Index is up .31 percent from October 2011. The report says some states like Wisconsin, Ohio and Oklahoma have declining unemployment rates as governors there have cut …
HousingWire reports the Office of the Comptroller of the Currency (OCC) says while mortgage delinquencies stabilized in the third quarter, foreclosures climbed 21.1 percent from the last quarter as mortgage servicers rolled back the reprieve imposed in late 2010, following disclosure of the robo-signing controversy. New foreclosures fell 11.8 percent …
Frank Rolfe, CEO of MHC owner American Home Communities, LP, writes in NuWireInvestor that buying a small manufactured home community for retirement income is a feasible way to maintain a reasonable standard of living. Given that safe investments only give you a return of two percent, you need $3,000,000 in …
OriginationNews tells MHProNews that after a two-year study, a Columbus, Ohio-based insurance company has introduced the Home Value Protection(HVP) plan to offer a modicum of protection to homeowners interested in refinancing or taking on a new mortgage. In light of the negative equity many homeowners face, Home Value Insurance Co. …
The NAHB recently reported improvements in the picture for homebuilders, and Realtors say sales increased, but a new report today addresses the continuing threat from shadow inventory. CoreLogic reports that the current residential shadow inventory as of October 2011 remained at 1.6 million units, representing a supply of 5 months. …
Sales and Starts May Be Up, But Shadow Inventory Looms Read More
MHProNews.com has learned from the National Association of Realtors (NAR) that existing-home sales rose again in November and remain above a year ago. The latest monthly data shows total existing-home sales increased 4.0 percent to a seasonally adjusted annual rate of 4.42 million in November from 4.25 million in October, …
Realtors Say Home Sales Up, But Downwardly Revises Recent Data Read More
MHProNews has learned that theMHARR Board officials and staff met on December 14, 2011 with Government National Mortgage Association (GNMA) President Theodore W. Tozer to discuss the securitization requirements that have limited FHA (Federal Housing Administration) Title I manufactured housing loans. Currently, GNMA requires a minimum net worth of $10 …
MHProNews has learned from the National Association of Home Builders (NAHB) that builder confidence in the market for new, single-family homes rose for the third month in a row. This marks the first time that has happened since mid-2009, bringing the NAHB/Wells Fargo Housing Market Index (HMI) to 21, its …
From Housingwire, MHPronews.com has learned that Median home list prices have risen more than four percent over last year. The National Association of Realtors reported Thursday that while list prices are up, there are distinctions to be made in different parts of the country. The median list price edged down by …
Following up on a story we published Nov. 14, 2011, OmahaWorld-Telegram reports the oil boom in North Dakota continues to have positive repercussions for area MH producers. The York, Nebraska, Champion Home Builders plant has doubled its production staff since summer to 150, and intends to hire another 50 early …
North Dakota Oil Boom Drawing Midwest MH Producers Read More
Small-business optimism rose for the third consecutive month, gaining 1.8 points in November, and settling at a still weak 92.0, according to the National Federation of Independent Business’ (NFIB’s) latest index. Optimism appears to have climbed because fewer owners expect business conditions or sales to be worse in six months, …
HousingWire reports Zillow says home values declined in October 0.3 percent from the previous month. Home values have declined 23.7 percent since 2007, and on a year-over-year basis, the Zillow home value index fell 5.1 percent to $147,900. On a regional basis, of the 156 metropolitan statistical areas covered by …
NationalMortgageNews reports Republican Senators want the Obama administration to more forcefully strengthen the Federal Housing Administration (FHA) before confirming Carol Galante to head the agency. They also seek a plan for dealing with GSEs (government -sponsored enterprises) Fannie Mae and Freddie Mac. Sen. Jim Demint, (R-SC), leveling charges at Ms. …
Galante’s Nomination to Head FHA Sent to Full Senate Read More
According to the News-Journal, a one thousand acre site in Ormond Beach, Florida, is once again rankling feathers. Turned down ten years ago as an MHC, $150,000 homes were supposed to be built, but none were. The developer has returned asking for an amendment to the agreement with Volusia County, …
In a letter to MHProNews.com, Joe Kelly, executive vice-president of the Iowa Manufactured Housing Association (IMHA), says there were 121 orders for modular homes in the third quarter 2011, five more than in the same period last year. This ranks Iowa sixth in the survey of 29 states in modular …
NationalMortgageNews reports in the wake of the housing industry crisis, homeowners associations (HOAs) are having to rely in some cases on special assessments to make up for vacant units in foreclosure or otherwise unoccupied. Normally HOAs levy a monthly or yearly assessment to help pay for snow and trash removal, …
A new report from Clear Capital find that quarter-over-quarter home prices remained flat, posting a slight a 0.3 percent increase, down from the 0.6 percent quarterly increase reported last month. Moreover, quarterly price movements have become more aligned across the four regions within the U.S., with only 2.0 percentage points …
HousingWire says Zillow Real Estate Market Reports is partnering with researcher Pulsenomics to sponsor what will be called the Zillow Home Price Expectations Survey. First published by Pulsenomics in 2010 with MacroMarkets as its sponsor, the quarterly survey is based on the expert opinions of over 100 housing market analysts, …
NationalMortgageNews reports a Senate Banking Committee hearing to discuss the work regulators are doing at six different agencies to implement Dodd-Frank became embroiled in an exchange about a seventh agency not in the room. Legislators sparred over the impending vote of Richard Cordray to head the Consumer Financial Protection Bureau …
Senate Committee Sidetracked by CFPB Head Nomination Read More
The Mortgage Bankers Association reports Mortgage applications are on the increase over the week previous. The Weekly Mortgage Applications Survey for the week ending December 2, 2011 shows a 12.8 percent rise. “Coming out of the Thanksgiving holiday, applications increased significantly as mortgage rates dropped to their lowest levels in …
