The Birmingham News reports the House Financial Services Subcommittee unanimously passed a bill requiring all new manufactured homes to be equipped with a weather alert radio. Rep. Spencer Bachus (R-AL), chairman of the subcommittee, reminded committee members that 100 people in his district died during the April 27 tornado, although …
HousingWire says the Mortgage Bankers Association (MBA) reports its market composite index for the week ending July 15 saw mortgage applications climb 15.5 percent on a seasonally-adjusted basis from the previous week, as refinancing increased. On an unadjusted basis the index rose 44 percent. Of all mortgage applications, refinancing made …
Refinancing Mortgage Applications Increase as Rates Fall Read More
PR Newswire reports that Drew Industries, Inc. (NYSE:DW), acquired certain assets of M-Tec Corporation (M-Tec) through its wholly-owned subsidiary, Lippert Components. A supplier of components to the manufactured housing and RV industry, Drew paid $6 million in cash, and may pay an added $0.6 million depending upon sales levels over …
Business Insider reports the U.S. is on track this year for the lowest number of total housing completions since the Census Bureau started keeping records of completions. In 2005, 1,878,200 single family and multifamily dwellings were added to the nation’s housing stock, including 146,800 manufactured houses. This figure included an …
National Mortgage News reports the nation’s largest residential mortgage originator saw a decline of 31 percent from the first quarter, funding only $64 billion new home loans in the second quarter 2011. Wells Fargo Home Mortgage non-interest income fell $397 million from the first quarter to $1.6 billion in the …
Mixed News from Largest Residential Mortgage Originator Read More
The National Association of Home Builders (NAHB) says figures released by the U.S. Commerce Department show housing starts for single and multifamily homes increased in June 14.6 percent to a seasonally-adjusted rate of 629,000. Bob Nielsen, chairman of NAHB, called it an encouraging sign, but also noted that lack of …
Origination News says a report by George Washington University’s Center for Real Estate and Urban Analysis suggests changes in the Federal Housing Administration’s (FHA) loan limits proposal. The plan to reduce the high end of (FHA) loan limits will not do much for low-income, first time, and minority buyers. Co-author …
CBCNews of Alberta, Canada, says the Alberta government is sending 350 modular homes to the residents of Slave Lake, Alberta, following the wildfire that devastated half of the town in May. The first homes will go to those who had no insurance or were under insured, according to provincial housing …
Market Watch reports Equity Lifestyle Properties (NYSE:ELS) has released results for the second quarter 2011, and for the past six months. Funds from operations (FFO) for the first quarter equaled $27.3 million, or .73 cents per fully-diluted share, versus last year’s second quarter of FFO of $27.1 million, equaling .76 …
ELS Releases Financials for Q2 2011 and for Six Months Read More
Bartlesville Radio reports that the City Council in Dewey, OK received a request for a zoning variance to put two modular homes on lots in the city. Two people in this northeastern Oklahoma town, including the petitioner, spoke in favor of the variance, and four opposed it. Council members voiced …
The Dow lost 94.57 points to close at 12,385.16 on concerns about the European debt crisis and the U.S. debt ceiling, as several housing stocks closed down. The Manufactured Housing Composite gained .11 percent to end the day at 1052.70. Nobility Homes gained 6.51 percent. Meanwhile, MSCI lost 1.80 percent, …
HousingWire reports that Freddie Mac says its market outlook expects home sales to increase over last year by three to five percent. Freddie downplays the negative aspects of the economy, unemployment and the debt ceiling issues, not a foreboding of worse news. The rental housing market for the first-quarter 2011 …
Freddie Mac Expects Slow but Steady Housing Market Return Read More
The Sacramento Bee says Drew Industries, Inc., (NYSE:DW) will announce its second quarter 2011 results prior to the market’s opening on Monday, Aug 1, 2011. Drew is a manufacturer of doors, windows, chassis, bath units and upholstered furniture for the manufactured housing and RV industry will host a conference call …
Manufactured Home Component Maker to Release Q2 Financials Read More
Bluffton Today, of Bluffton, South Carolina, reports members of the town’s Affordable Housing Committee discussed methods of determining how the six affordable modular housing units being built will be sold. Town Growth Management Director Marc Orlando says a consultant has been hired to market the single-family homes, screen applicants for …
Business Insider reports that President Obama has picked former Ohio Attorney General (AG) Richard Cordray to head the Consumer Financial Protection Bureau (CFPB). He became AG in Ohio in 2009 when the previous officeholder had to step down, and garnered some national attention when he went after big banks for …
The Roanoke Times says building of a 70 unit modular townhouse project has begun in Christiansburg, Virginia, to provide affordable housing and to stimulate the economy. Called Forest Hills at Belview, the $13.5 million venture will offer housing to those who meet strict low-income guidelines. Funded by the Obama administration’s …
The Dow was nudged upwards by positive corporate profits 42.61 points to end the week at 12,479.73, while housing stocks closed mixed. The Manufactured Housing Composite lost .74 percent to close at 1051.60. Sun Communities was up 1.75 percent, ELS gained .89 percent and MSCI moved up .05 percent. Palm …
The Ottawa Citizen says modular home builder Guildcrest Homes is opening a retail outlet in Carleton Place, a town of 10,000, west of Ottawa, in an attempt to reach out to its customer base. While the 250 homes it builds each year are built in Morewood, this 1,000 square-foot show …
SmallCapInvestor reports that Universal Forest Products (NASDAQ:UFPI) posted a 21 percent increase in its stock price today to top the list as the top performing small cap stock. Universal makes wood and wood alternative components for manufactured and modular housing. Despite a 69 percent drop in its profit for the …
The Curry County Reporter in Oregon reports the residents of what was a land lease community (LLC) in Gold Beach, Oregon, have successfully formed a non-profit co-op that has become Saunders Creek Homeowners Cooperative. When the owners put the 43 home site land up for sale, the residents received purchase …
