The National Association of Home Buyers (NAHB), testifying before the House Financial Services Subcommittee on Housing and Insurance, urged lawmakers to move cautiously in reforming the Federal Housing Administration (FHA) because the tight lending standards are already preventing qualified home-buyers from obtaining mortgages, as MHProNews has learned. NAHB First Vice …
According to what HousingWire tells MHProNews, 70 percent of lender professionals believe the housing recovery is real, and will continue to improve during the coming six months. Sixty percent of bankers think credit will be available over the next six months for refinancings, and 59 percent say credit will be …
Laurie Maggiano, policy director for the U. S. Treasury’s Homeownership Preservation Office, says many people continue to be left out of the housing recovery, and if fact are still struggling, and how the Obama administration hopes to change that. A partnership between the Treasury and NeighborWorks America will reach out …
Housing Recovery Passing over First-time Prospects Read More
In addressing the strength of the housing market recovery, as HousingWire tells MHProNews, experts expressed different views. Anthony Sanders, professor of real estate finance at George Mason University, says the market is improving, but slow job growth, stagnant incomes (except for the top five percent), and increasing government involvement are …
A coalition of non-profits and consumer organizations are encouraging residents of often modest means to seek co-op ownership as a means to increase equity in their property and control rents in Mass. The patriotledger reports of the 250 manufactured home communities in the state, only 25 have become cooperatives, but …
The National Association of Home Builders/First American Improving Markets Index (IMI) informs MHProNews the list of improving housing markets remains virtually unchanged from last month. Five new markets showed improvements in employment, housing permits and home prices for at least six months, while six fell from the ratings. NAHB Chief …
According to the brightonpittsfordpost, Robert Morgan, founder and CEO of Rochester, NY-based Morgan Management has been named recipient of the 2013 Herbert W. Vanden Brul Entrepreneurial Award by the RIT Saunders College of Business. Honored for 30+ years of successful business in Rochester, the company Morgan founded now employs 950 …
In addition to guaranteeing the majority of new residential mortgages across the country, HousingWire informs MHProNews Fannie Mae and Freddie Mac, the GSEs (government-sponsored enterprises), also guarantee half of the outstanding residential mortgage debt, with the private market picking up the other half. While the Congressional Budget Office (CBO) projects …
IMSoup reports from Austin, Texas more people are interested in modular homes this year than in 2012, as the traditionally strong home-buying season begins. Modular Homes Network reports a nearly 25 percent increase in interest in modular homes for March 2013, especially in Houston, Austin, Dallas and San Antonio. As …
According to paloaltoonline, 15 people share three houses, a trailer, a vegetable garden and household tasks in an intentional community, called Greenwave, along a small Palo Alto (Calif.) side street. Owned by three of the members to whom the others pay rent, the three homes are manufactured housing to keep …
According to the Conference of State Bank Supervisors, nationalmortgagenews says as of April 1, 2013, 20 states have signed on to a uniform state test for loan originators, allowing them to operate in those states without being re-tested. Another six states will be on board by October. As MHProNews has …
HousingWire informs MHProNews that in January, 2013 applications for loans insured by the Federal Housing Administration (FHA) rose to 147,509, an increase from 127,057 in December and up from 126,835 January 2012. In January the FHA insured 134,461 single-family homes, an increase from 113,856 the prior month and 102,011 from …
Writing in the albirminghamnews, Professor Scott Bealuier of Troy University says to speak of a housing market recovery is premature. He says the recovery so far is minor when compared to what the housing market was pre 2006. It’s now a government-driven recovery supported by the Fed’s monthly purchase of …
The Manufactured Housing Institute (MHI) informs MHProNews hearings were held March 19 by both the House and the Senate on housing finance reform. Texas Chairman of the House Financial Services Committee Jeb Hensarling stated he wants to abolish Freddie Mae and Freddie Mac and privatize the secondary mortgage market. Acting …
According to a members survey by the National Association of Home Builders (NAHB), since June 2012 labor shortages in all aspects of the home-building trade are driving prices up, and nearly half say they have been delayed in finishing projects on time. 1.4 million housing jobs left the industry during …
PRWeb reports from Houston, Texas that while noting more internet searches for homes are being done on mobile devices rather than desk or lap tops, Oak Creek Homes has developed a mobile version of its website, enabling shoppers to view the entire line of manufactured and modular homes and request …
MHProNews has learned from HousingWire housing analyst firm RealtyTrac reports foreclosure activity rose to 1.5 million in the first quarter of 2013, nine percent more than the same period in 2012, but considerably less than the peak 2.2 million in December 2010. Daren Blomquist, vice president at RealtyTrac, says, “Delinquent …
According to nationalmortgagenews the sale of new single-family homes dropped in February 4.6 percent from January on a seasonally-adjusted annual rate (SAAR) to 411,000, although last month’s sales still rose 12.3 percent over February 2012. The seasonally adjusted number of new homes available at the end of February hit 152,000, …
Reuters informs MHProNews despite the tightness of credit for residential mortgages, the housing market is threatening to take the lead from manufacturing in terms of overall economic activity, as home prices posted their largest year-over-year gain in six and-one-half years in January. While core durable capital goods orders (non-defense and …
According to nationalmortggenews, Lender Processing Services (LPS) informs MHProNews home prices in January, 2013 rose 0.3 percent from the previous month. In its survey of 15,500 zip codes, the Home Price Index (HPI) rose 6.7 percent from January 2012. The largest month-over-month gain was 1.6 percent in Georgia, while the …
