MHProNews has learned from nationalmortgagenews that while the number of foreclosures is down, there are still many REO houses that have not seen the light of day in several years. CoreLogic reports foreclosure activity was down in March from the previous March 2012 by 17 percent, but April numbers show …
Foreclosure Activity Down, but the Shadow May Linger Read More
Responding to what are perceived as carved-in-stone strictures, Consumer Financial Protection Bureau (CFPB) director Richard Cordray says regardless of the agency’s QM Rule with its highly-defined rules, lenders should feel safe originating loans that have exhibited strong performance over time, as nationalmortgagenews tells MHProNews. Noting community banks and credit unions …
CNNMoney reports as home prices increase and inventories shrink, appraisers are valuing homes at or above their values, according to chief economist Lawrence Yun of the National Association of Realtors. A Seattle-based real estate agent says none of the appraisals for the homes he has sold this year have come …
HousingWire informs MHProNews first-time homebuyers are facing different circumstances than their parents’ generation. Whereas their parents were saving for a down payment on their first home, Generation Y is burdened with an average $27,000 in college loans which may take ten years to pay off. Housing research site Doorsteps has …
MHProNews has learned from HousingWire mortgage applications dropped 7.3 percent from the previous week, according to the Mortgage Bankers Association (MBA), and the refinance index fell eight percent from the previous week. Although the seasonally adjusted purchase index dropped four percent from the prior week, it was ten percent above …
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) composite reports builder confidence rose from 41 in April to 44 in May, as all three indexes that make up the composite gained. The HMI is based on builders’ perceptions of current sales, sales expectations, and traffic of …
The National Association of Home Builders reports 73.7 percent of the new and existing homes sold in the first quarter of 2013 were affordable to families earning the annual median income of $64,400, down slightly from 74.9 percent in Q4 2012. The data for the NAHB/Wells Fargo Housing Opportunity Index …
Caitlin Nauert of the Texas Manufactured Housing Association (TMHA) tells MHProNews the TMHA board members raised $16,000 towards a fundraiser it is co-hosting with the Manufactured Housing Institute (MHI) for Rep. Jeb Hensarling (R-TX). As Chairman of the powerful House Financial Services Committee, Rep. Hensarling oversees the mortgage industry, and …
The ABQJournal tells MHProNews that the Farmington, New Mexico metropolitan statistical area (MSA) has the highest percentage of manufactured housing as part if its inventory of any metro area in the U. S., at 32 percent. Two-thirds of the county’s 128,529 residents live outside the city in rural areas, including …
While many call for the Federal Housing Authority (FHA) to reduce its presence in the mortgage market, it would not be a wise move with purchase loans as low as they are. MHProNews has learned from nationalmortgagenews, even though much of the housing market news is encouraging, only 2.3 million …
According to palmspringslife, in the 1960’s architect Don Wexler designed seven all steel modular homes in North Palm Springs, Calif. in conjunction with the Alexander Group, each selling for $14,000. The intent was to build 36 homes but the price of materials became prohibitive, as everything except the concrete foundation, …
The National Association of Home Builders (NAHB) informs MHProNews their 55+single-family Housing Market Index (HMI) rose 19 points in the first quarter of 2013 to 46, the largest first quarter increase since the measurement began in 2008. Based on builders’ sentiments about the condition of the market for the coming …
HousingWire tells MHProNews that the most recent CoreLogic home price index spiked 10.5 percent nationally, the 13th consecutive monthly increase in home prices nationally. “For the first time since March 2006, both the overall index and the index that excludes distressed sales are above 10 percent year over year,” said …
According to cbsnews, a report based on recent data from the Census Bureau American Community Survey states that the percentage of renters paying over 50 percent of their income increased from 22.8 percent to 26.4 percent. The foreclosure crisis, falling home prices, and tighter credit drove former homeowners into rentals …
From down under MHProNews has learned Australian companies Elenberger Fraser and Unitised Building have developed a residential, modular building system suitable for a skyscraper as well as a stylish single-family home. According to gizmag.com, in order to eliminate waste, the dimensions of the prefab building blocks, termed Klik, take into …
Robeson County, North Carolina manufactured home dealer McMillan Properties has been banned from doing business by Attorney General Roy Cooper for selling substandard homes and homes that were never delivered. According to what carolinalive tells MHProNews, 52 consumers in the Robeson County area have filed complaints against Bradley and Sherry …
Company Banned from Dealing in Factory-built Homes Read More
According to Easier.com, the continuing housing shortage in western North Dakota due to the Bakken Formation oil boom has led to another player in housing market development. Property Horizons Director and Founding Partner Robert Gavin explains, “There are 15,000 oil workers and rising in North Dakota. Many have families who …
The U. S. Department of Housing and Urban Development (HUD) has announced it will sell approximately 20,000 severely delinquent mortgage loans insured by the Federal Housing Administration (FHA) in an attempt to reduce the shadow inventory and hone in on areas showing high foreclosure activity. Through its Distressed Asset Stabilization …
The National Association of Home Builders (NAHB)/First American Improving Markets Index (IMI) reports the number of U. S. housing markets experiencing sustained growth fell from 273 in April to 258 in May, representing all 50 states and the District of Columbia. The IMI measurement is based on areas that show …
Craig’sDetroit notes southeast Mich. is home to two of the largest owners of manufactured home communities. RHP Properties of Farmington Hills is the largest privately-owned MHC in the nation, having just competed a deal to acquire 71 more communities, bulging its portfolio to $2.25 billion, as MHProNews posted April 16, …
