According to tickerreport.com, manufactured housing community owner Equity LifeStyle Properties, Inc. (ELS) has announced it will pay shareholders of record on Friday, March 28, 2014 a dividend of $0.325 per share on Friday, April 11, 2014, representing an annualized dividend of $1.30 and a dividend yield of 3.17 percent. The …
A major aspect of the bipartisan housing finance reform legislation introduced by Senators Tim Johnson (D-SD) and Mike Crapo (R-ID) of the Senate Banking Committee is a mortgage cooperative to ensure small and regional lenders can sell their loans for cash. As nationalmortgagenews.com informs MHProNews.com, the cooperative would initially be …
Mortgage Cooperative may Replace Fannie Mae and Freddie Mac Read More
Analysts at Barclays report more homeowners are staying current on their mortgages, thereby reducing the rate of delinquent loans, as housingwire.com informs MHProNews.com. The March Mortgage Credit Tracker says, however, the rate of foreclosure is rising, as is the foreclosure-to-REO (real estate-owned) hopper, bringing foreclosures back to the rate of …
Deputy Director of the Consumer Financial Protection Bureau (CFPB), Steven Antonakes, speaking at the Mortgage Bankers Association’s (MBA) Servicing Conference, pointedly blamed the servicers for the many foreclosures outstanding and the home owners still underwater on their mortgages. According to nationalmortgagenews.com he said, “This kind of continued sloppiness is difficult …
In a survey that includes 41 million single-family mortgages across the country, accounting for 88 percent of all mortgages serviced, the Mortgage Bankers Association (MBA) reports oil boom state North Dakota has the lowest foreclosure starts rate in the country for Q4 2013 at only 20 basis points. The state …
Fracking Oils the Mortgage Industry in North Dakota Read More
The U. S. Senate Banking Committee leaders have made a housing finance overhaul bill one the committee’s top priorities, and ranking member Sen. Mike Crapo (R-ID) says he and Chairman Tim Johnson (D-SD) hope to produce their long-awaited housing bill by the end of March, according to POLITICO Pro. Sen. …
Updating a story MHProNews.com published Feb. 21, 2014 regarding U. S. Senate bill S 1828, Preserving Access to Manufactured Housing Act, introduced by Sen. Joe Donnelly (D-IN) Dec. 16, 2013, MHProNews.com has been informed Sen. John McCain (R-AZ) has signed on as a co-sponsor of the bill. A companion to …
The Michigan State Housing Development Authority already offers first time home-buyers assistance through its Mi First Home program, and now it is offering assistance to repeat buyers, including those who want to buy a manufactured home. The Mi Next Home program can provide up to $7,500 in down payment assistance, …
U. S. Housing and Urban Development Secretary Shaun Donovan, noting that a housing trust fund needs to be established that supports $5 billion in affordable housing production a year, says the congressional GSE (government-supported enterprise) reform legislation that eventually eliminates Fannie Mae and Freddie Mac needs to include such a …
According to ycharts.com, on average about one million new households are created each year, but since the recession that has dropped to 500,000, spurring trulia.com to say there are “2.4 million” missing households. In his 2011 Berkshire Hathaway shareholders letter, Warren Buffett says, “People may postpone hitching up during uncertain …
Drew Industries, Inc. reported net sales for the year ending 2013 increased $114 million over last year to a record $1.02 billion, resulting in income of $50.1 million, $2.11 per diluted share, a rise from net income for 2012 of $37.3 million, or $1.64 per diluted share. Had it not …
According to cnnmoney.com, Universal Forest Products, Inc. (NYSE:UFPI) announced 2013 net sales of $2.5 billion, an increase of 20.2 percent over 2012, and net earnings of $43.1 million, $2.15 per diluted share, compared to net earnings in 2012 of $23.9 million, or $1.21 per diluted share. Net sales for Q4 …
According to motleyfool.com, Wells Fargo upgraded real estate investment trust (REIT) Sun Communities, Inc. to Outperform, as it cited positive home sales trends. In addition, Sun’s guidance for 2014 includes an $0.08 increase in distribution per common share; a midrange estimate of funds from operations (FFO) per share increase of …
Fannie Mae has collected nearly $14 billion from eight mortgage lenders since the start of 2013 for repurchase claims, and just agreed to $591 million from Wells Fargo, which will mark the end of its efforts to collect on defective loans it bought from private lenders during the the peak …
MHProNews.com has learned from asburyparknews.com in New Jersey, Wells Fargo Home Mortgage told a family displaced from their home by Hurricane Sandy in Oct., 2012 they could not use their insurance check to purchase a modular home. It would cost $300,000 to repair the home in Brick, NJ, and they …
Sandy Victims Initially Denied Modular Home Rebuild Read More
A Mortgage Bankers Association (MBA) report says mortgage applications nudged up 0.4 percent for the week ending Jan. 31 from the previous week, while refinance mortgage activity remained at 62 percent of mortgage applications. While the refinance index grew 3% from the previous week, the purchase index declined 4% from …
MHProNews.com has learned from heraldonline.com that JPMorgan Chase & Co. (NYSE:JPM) has created a new community development financial institution (CDFI) Collaboratives program to stimulate economic growth and opportunities in distressed and underserved communities, committing $33 million spread over 21 states. The financial services giant, with over $2.4 trillion in assets …
JPMorgan Grant Focuses on Manufactured Housing Communities Read More
Consumer Financial Protection Bureau (CFPB) Director Richard Cordray received criticism during a hearing Tue., Jan 28 from the Chairman of the House Financial Services Committee, Jeb Hensarling, (R-TX), who said his committee is already hearing negative feedback from consumers regarding the Qualified Mortgage rule which went into effect Jan. 10. …
CFPB Director Cordray Grilled at House Financial Services Committee Hearing Read More
The Manufactured Housing Association for Regulatory Reform (MHARR) informs MHProNews.com the House of Representatives Financial Services Committee is establishing an internet link for people to give first hand accounts of how the new Dodd-Frank Act and its implementation by the Consumer Financial Protection Bureau (CFPB) is affecting them. This window …
According to wkrb13.com, manufactured housing community (MHC) owner Equity LifeStyle Properties (NYSE:ELS) will announce its earnings results Tue., Jan 28. While the stock opened at $37.10 Mon., Jan 27, it has a 52-week low of $33.36 and a 52-week high of $42.86. The company has a market cap of $3.091 …
