News Reports: Housing news updates and reports for Manufactured Home and Modular Housing Industry professionals and investors. Business – daily fact checks, market reports, and analysis.
Following a story MHProNews last posted Aug. 7, 2014 regarding the sentencing of Marina McCuen for her role in a scheme that defrauded the government of millions of dollars by selling manufactured and modular homes to consumers whose credit information was altered, a second defendant, Roger Dean Bailey, Jr. was …
Second Defendant Sentenced in HUD Code/Mod Home Sales Scheme Read More
The Federal Reserve’s Vice-chairman, Stanley Fischer, says although the economy has added over 200,000 jobs monthly and the unemployment rate is lowering, the labor force participation rate has remained at 62.9 percent, which may indicate dejected workers who have stopped looking for work. This, combined with the soft U. S. …
Fed Vice-chair Concerned Slow Economic Growth is Global Read More
According to brookline.wickedlocal.com, the modular classrooms at the Lawrence School should be completed by May or June of next year, in time for the 2015 school year, and will cost $3.11 million, as MHProNews has learned. The original idea was to bring in the modular units and add design elements …
Investors continue to ignore global tensions in Iraq, Ukraine and the Middle East, and the Ebola outbreak in western Africa as the Dow Jones Industrial Average gained +91.26 points, +0.55 percent, to close at 16,651.80. The Nasdaq moved up +1.02 percent, +44.88 points, to end at 4,434.15, while the S&P …
Deer Valley Corp. Regains Yesterday’s Losses; Dow, Nasdaq, S&P Advance Read More
Updating a story that MHProNews last posted Aug. 1, 2014 concerning resident allegations that management of Blackhawk Estates manufactured home community (MHC) in Des Plaines, Illinois was removing property belonging to the residents and levying fines for children playing in the street, a second meeting to discuss concerns is set …
According to rgj.com in Nevada, the Yerington City Council approved development of the Pony Express Village manufactured home community (MHC) with 23 homesites. MHProNews understands the project was first unveiled in October 2009 but was shelved because of the state of the economy. The city stipulates that no homes can …
Following a story MHProNews posted July 29, 2014 regarding the opening of Southern Energy Homes’ (SEHomes) new 176,000 square foot facility in Russellville, Alabama, the new plant was dedicated Aug. 8 and attended by AL Gov. Robert Bentley, along with Rep. Johnny Mack Morrow, Sen. Roger Bedford and U. S. …
Southern Energy Homes Dedicates New Plant in Alabama Read More
The Federal Housing Finance Agency (FHFA) wants to use the best elements of both government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, to develop a single common security that “will improve liquidity in the housing finance markets,” according to FHFA Director Mel Watt. Currently, Freddie MBS (mortgage-backed securities) trade at …
Single Security Structure to Replace Fannie and Feddie Read More
With more than 25,000 homes sold in 2013, for the second consecutive year Clayton Homes of Maryville, Tennessee has earned the title of America’s Largest Homebuilder, according to ourmidland.com. This honor is based on the total number of site-built homes in 2013 as reported by Builder Magazine, and the number …
The least expensive mortgage in the country during July was in Rhode Island where borrowers paid just 3.4 percent, 0.35 percent below the national average. The highest rate in the nation was 4.1 percent in Nebraska, as CNNMoney informs MHProNews. Over the 30 years of the loan that 0.7 percent …
Best Mortgage Rates available where Jobs are Scarcest Read More
The National Association of Realtors (NAR) informs MHProNews median existing single-family home prices increased in 71 percent of measured markets, with 122 of 173 metropolitan statistical areas (MSAs) based on closings in the second quarter as compared with Q2 of 2013. Forty-seven markets (27 percent) recorded lower median prices from …
The three major indexes were flat in today’s trading, perhaps reflecting the dog days of August or concerns about global issues. The Dow Jones Industrial Average edged down -9.44 points, -0.06 percent, to close at 16,560.54, as CNNMoney tells MHProNews. The Nasdaq slipped the most of the three major indexes, …
Deer Valley Plummets; Dow, Nasdaq, S&P Lose Modestly Read More
According to crazyjoys.com, stock analyst Zacks downgraded the shares of Universal Forest Products, Inc. (NASDAQ:UFPI) from neutral to underperform rating. Although it closed Aug. 11 at $47.52, their analysts have a $42.00 price target on the stock. Return on assets (ROA) is 5.10 percent, return on investment (ROI) is 6.40 …
One third of the Glasgow Court land lease community in New Castle County, Delaware will close as of July, 2015, displacing residents of 167 homes, to make way for an apartment building, according to delawareonline.com. Kelli DiSabatino, chief operating officer of community owner GCE LLC, noting that part of the …
The Manufactured Housing Institute’s Chairman Nathan Smith has been urging industry members to contact their U. S. Representatives in support of H. R. 1779 via the MHI’s new advocacy page, requiring just a few clicks to send a letter. Smith says both houses of Congress are in recess and the …
U. S. Representatives in Home Districts; Contact them to Support 1779 Read More
The Mortgage Bankers Association (MBA) reports residential mortgage delinquencies have fallen to six percent, according to their National Delinquency Survey, the lowest level since Q4 of 2007, and the fifth consecutive quarter of decline. Mike Fratantoni, MBA’s Chief Economist, informs MHProNews.com that strong job growth and continued increases in home …
D & R Village manufactured home community (MHC) in Halfmoon, New York has partnered with CAPTAIN Youth and Family Services to provide a free, nutritious lunch to children of the community ages one to 18 every weekday at noon. Consisting of a sandwich, a vegetable, a piece of fresh fruit …
Investors seemingly continue to ignore global tensions as the Dow Jones Industrial Average edged up +16.05 points, +0.10 percent, to close at 16,569.98, as CNNMoney informs MHProNews. The Nasdaq gained the most of the three major indexes, moving up +0.70 percent, +30.43 points, to end the first day of the …
UFPI tops Tracked Stocks, Skyline Falls; Dow, Nasdaq, S&P 500 Edge up Read More
MHProNews has been informed Federal Housing Administration (FHA) Commissioner Carol Galante will be leaving her position at the end of the year to become an affordable housing professor at the University of California, Berkeley. With the agency for five years, the last two as commissioner, while the FHA has helped …
Following a story MHProNews last posted May 19, 2014 regarding a seven-story modular apartment building that opened in the far northern reaches of Manhattan in New York called The Stack, the Modular Building Institute honored it as the August 2014 Modular Building of the Month. Designed by Gluck+, and developed …
Modular Construction Continues Growing in New York City Read More
