OriginationNews notes while some firms earned more in the first quarter of this year than all of last, disbelievers expect originations to fall 20 percent this year. But National Mortgage News and the Quarterly Data Report estimate production will be between 1.3 and 1.4 trillion dollars, comparable to 2011. The …
According to RealtorMag’s survey of 146 metropolitan areas, MHProNews.com has learned median home prices nationwide rose five percent in March compared to Feb., to $189,900. Only five of the metro areas saw home prices decline including Minneapolis-St. Paul, Columbia, MO and Reading, PA. The areas that witnessed the largest month-over-month …
To comply with the 2010 FEMA (Federal Emergency Management Agency) guidelines declaring Magnolia Village MHC in Yuma, Arizona is in a flood plain, replacement homes for the over-55 residents will have to be elevated four feet. To satisfy the National Flood Insurance Program, homes that will cost more than 50 …
FEMA: “Canal Could Flood MHC”—Water Co. Employee: “No Way” Read More
NationalMortgageNews tells MHProNews.com the American Bankers Association (ABA) reports delinquency rates fell across all the loan categories the ABA monitors in the fourth quarter of 2011, the first time that has happened since 2004. The ABA defines delinquency as being late 30 or more days. The report notes consumers made …
HousingWire says average weekly mortgage rates barely changed from last week, the Freddie Mac survey showing the average 30-year fixed rate mortgage (FRM) moving little, from 3.88 percent to 3.9 percent this week. MHProNews.com has learned last year the 30-year FRM averaged 4.87 percent. The 15-year FRM also moved little …
According to Housing and Urban Development (HUD) Secretary Shaun Donovan, 400,000 HARP (Home Affordable Refinance Program) 2.0 applications have been picked up by five of the largest loan servicers. HARP 2.0 is targeted to underwater borrowers with Fannie Mae and Freddie Mac loans. NationalMortgageNews tells MHProNews.com President Obama has proposed …
The National Association of Home Builders (NAHB) reports overall housing starts declined in March 5.8 percent to a seasonally adjusted annual rate (SAAR) of 654,000 units, primarily due to a 16.9 decline in multifamily starts. Single-family housing starts dropped slightly 0.2 percent to a SAAR of 462,000 units, according to …
From London, England OfficialWire tells MHProNews.com by 2017 the production of manufactured housing worldwide will reach 829,000 units. The report cites technological improvements, positive governmental regulations, and growing populations in the Asian and Latin American markets with disposable income as the driving force behind demand for middle-income housing. Noting manufactured …
According to Trulia Inc., the National Association of Realtors (NAR) reports in RealtorMag rents increased five percent over the last 12 months as the asking price for homes declined 0.7 percent, reflecting a continuing stall in the homes-for-sale market. Reis Inc. says the rental vacancy rate fell to its lowest …
The Santa Fe Association of Realtors (SFAR) tells the SantaFeNewMexican home sales are up in the area due to low interest rates and buyers fears that interest and prices will soon rise, but inventory is down as potential sellers wait for prices to improve. The median sales price for a …
The National Association of Home Builders (NAHB) states if certain legislators have their way, this could be the last year for the mortgage interest deduction (MID). Calling it “the most important tax deduction for tens of millions of middle-class families”, NAHB says “more than 33 million families benefited from the …
The OnlineSentinel reports from Madison, Maine a ruling that would restrict manufactured housing at Hidden Acres Mobile Home Park to newer models only was dropped, allowing post HUD Code (after 1976) homes to be sited, resolving a years-long disagreement between the town and the community’s owner, Tim Ames. The town …
OriginationNews says Amherst Securities Group reports lower-priced housing loans will outperform jumbo loans at current prices, suggesting investors should look for bonds with smaller loan sizes. The report says a government bulk REO sale would stabilize the low-income housing prices, and clear out many of the 3.2 million homes in …
ConcordMonitor says Foxy Terrace Cooperative in Derry, New Hampshire became the 100th resident-owned manufactured housing community in the state Feb. 19, 2012. Many of the cooperatives were years in the making, due to most lending institutions’ reluctance to finance a collective of primarily low-income residents, which comprise the majority of …
From St. Petersburg, Florida MHPronNews.com has learned from the Beach Beacon sales in the overall residential property sector in Pinellas County only increased two percent Feb. 2011 to Feb. 2012, but the median sales price for the same period rose nearly 18 percent. Similarly, for single-family homes, the same period …
According to BostonHerald the sale of homes in Massachusetts increased 9.7 percent in Q1 this year as compared to 2011, continuing a trend that began in 2009 when the housing market bottomed out. The MLS Property Information Network says the state’s median sales price fell less than one percent to …
WisconsinRapidsTribune tells MHProNews.com Ferkey Builders has received preliminary approval for a modular home community for people 50 and older in the central Wisconsin town of Saratoga. The 48 homes would each be sited on a half-acre with one bedroom models starting at $100,000. A resident who said the town’s ordinance …
The National Association of Home Builders (NAHB) Improving Markets Index (IMI), based on employment, housing permits, and house prices showed a slight improvement, adding a net gain of two, March to April. Thirteen markets were added and eleven fell from the ranking, while 88 markets remained, rising just above the …
From Housingwire and Corelogic comes a report on the foreclosure rate, which a new report says, is holding steady. The Corelogic report found there was 862,000 foreclosures in the 12 months ending in February. Some 3.4 million homes have been foreclosed since the financial crisis began in 2008. More than …
OriginationNews tells MHProNews.com Peter Carroll, the acting assistant director for the Consumer Financial Protection Bureau (CFPB) in charge of the Office of Mortgage Markets, is examining the Federal Reserve’s loan officer (LO) compensation rule. Jurisdiction for the rule was moved to the CFPB in July 2011 from the Fed’s control …
