Pending home sales rose for the third consecutive month in April, this time hitting the highest level since Feb. 2006, as 12newsnow reports to MHProNews. The National Association of Realtors (NAR) said its seasonally adjusted pending home sales index billowed 5.1 percent in April to 116.3, just shy of the …
New Home Sales Spike; Pending and Existing Home Sales also Rise Read More
Following a story MHProNews last posted May 5, 2016 regarding the planned closing of Lowry Grove manufactured home community (MHC) in suburban Minneapolis, theuptake reports the 96-home site community residents, mostly people of color, are attempting to raise $6 million to counter the offer of Continental Property Group (CPG)—but they …
MH Community Closing, Residents trying to Stave off Displacement Read More
MHProNews has learned from globenewswire that manufactured and modular home producer Cavco Industries, Inc. will release its financials for the fourth quarter of fiscal year 2016 on Thurs., May 26, 2016, after the close of the market. On Fri., May 27, 2016, at 1 PM eastern daylight time, senior management …
Cavco Industries Releasing Quarterly Numbers May 26 Read More
What’s New in public focused Manufactured HomeLivingNews.com Illinois Professional Couple Discover their Getaway Home near Florida’s top Beaches What’s New in Manufactured Housing Industry Professional News MH Community adding 46 homes. Malibu manufactured home goes for $3.5 million. Oregon MHC sets new record. Oklahoma City has first modular hotel. Americans …
Sunday Morning Recap-Manufactured Housing Industry News May 15-May 22, 2016 Read More
What’s New in public focused Manufactured HomeLivingNews.com Illinois Professional Couple Discover their Getaway Home near Florida’s top Beaches What’s New in Manufactured Housing Industry Professional News Rent control judgment favors manufactured home community owner. CFPB may tighten screws excessively on short-term lenders. NAR calls for more starter homes to ease …
Sunday Morning Recap-Manufactured Housing Industry News May 8-May 15, 2016 Read More
According to Neal Gabler, writing an article entitled The Secret Shame of Middle-class Americans in the May issue of The Atlantic, a Federal Reserve study from a year ago reports that nearly half of Americans would be hard-pressed to come up with $400 in an emergency—and he includes himself in …
As More People Live on the Edge, Payday Lenders Provide Valuable Service Read More
Following a story MHProNews posted May 11, 2016 regarding manufactured home community (MHC) owner NorthStar Realty Finance Corp., costar reports NorthStar is selling its portfolio of 135 manufactured home communities to a fund managed by Brookfield Asset Management Inc. for $2.04 billion, 33,010 home sites, the equivalent of $61,800 per …
NorthStar Selling Manufactured Home Community Portfolio for $2.04B Read More
With a focus on people who cannot qualify for a mortgage, especially low-income families who have been denied bank lending, a revival in seller-financed home sales has attracted the attention of the Consumer Financial Protection Bureau (CFPB) because of concern some of the dealings may violate federal truth-in-lending laws. One …
What’s New in public focused Manufactured HomeLivingNews.com Possible American Dreams! Engineer Skip VanZant on Evolving U.S. Housing What’s New in Manufactured Housing Industry Professional News Innovative Building Systems said to be filing for bankruptcy, closing Maine’s Keiser. UMH wins community award. Clayton defies criticism, turns $706M profit. Alberta fire pushing …
Sunday Morning Recap-Manufactured Housing Industry News May 1-May 8, 2016 Read More
Funds advised by private investment firm Centerbridge Partners, L.P. will acquire Southwest Stage Funding, LLC, dba Cascade Financial Services, a lender to buyers of manufactured homes, according to what prnewswire tells MHProNews. Following the closing of the transaction, which is scheduled to be finalized in the third quarter of 2016, …
MH Lender Cascade Financial Services Acquired by Centerbridge Read More
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 …
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
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
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
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 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
Damon Reed of Capital One has engineered a Fannie Mae $4.7 million fixed-rate refinancing package for a 309 home site manufactured home community (MHC)in Novi, Michigan, about 30 miles northwest of Detroit. Built in two phases, 212 sites of Country Cousin Manufactured Home Community were constructed in 1966, and 99 …
A graduate student team from the University of Texas at Austin won the U. S. Department of Housing and Urban Development’s (HUD) third annual Innovation in Affordable Housing Student Design and Planning Competition. As hud.portal tells MHProNews, the Austin team was one of four team finalists to come up with …
Students Compete to Redesign Affordable Housing Complex 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 MHARR Slams Danner, HUD. Clayton in line for air base homes contract. Sears Homes paved the way for prefab. Canada’s ATCO marching far South. Modulars for …
Sunday Morning Recap-Manufactured Housing Industry News April 17-April 24, 2016 Read More
