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.
According to nationalmortgagenews, bankers were relieved when the Consumer Financial Protection Bureau (CFPB) released its qualified mortgage rule (QM) in January, which gives the lender protection if a borrower defaults. But now some bank executives are hesitant to make loans outside the QM rule, and worry they could be rapped […]
Are Loans Unsafe Outside QM? Read More
According to BusinessWire, Universal Forest Products, Inc. (UFPI), in noting the best first quarter profits since 2006, reports net sales of $554.5 million for the first quarter of 2013, up 21.3 percent over the same period 2012. Net earnings of $5.2 million for Q1 represent an increase of 25.7 percent
UFPI reports best 1st Quarter Profits in Seven Years Read More
A series of poor corporate earnings led to a broad sell-off by investors, as the Dow fell by over 100 points and the other two major indexes dropped as well. CNNMoney reports the Dow Jones Industrial Average fell -138.19 points -0.94 percent, to end the day at 14,618.59. The Nasdaq
Stock Sell-Off Drops Most Tracked Housing Stocks, Three Major Indexes Read More
Architectural Record notifies MHProNews on May 9 the magazine in conjunction with the Architectural League of New York will host a panel discussion about the most recent developments in the design of modular multi-unit housing. Set for 7:00 PM at the McGraw Hill Auditorium, 1221 Avenue of the Americas in
Symposium on Modular Housing Set for New York City Read More
Joe Kelly of the Iowa Manufactured Housing Association (IAMHA) informs MHProNews the Iowa Senate has passed SF 295, a property tax credit system comparable to how the homestead credit system works. Commercial tax payers have to make a one-time application. The fund begins at $50 million, and increases each year
Iowa Legislature Considering Property Tax Amendment Read More
SevenDaysVermont tells MHProNews two small Vermont schools will be competing against 18 mostly larger schools in the U. S. Dept. of Energy’s biennial Solar Decathlon to be held in October at Irvine, Calif. While this will be Norwich University’s first trip to the competition, Middlebury College placed fourth in its
Modular Homes from Vermont Schools in Solar Decathlon Read More
PrairieBizMag reports from Grand Forks, ND, not long after a Blue Ribbon Commission on Housing determined the city has a housing shortage, especially affordable housing, plans for new developments have been announced and a home-buyers assistance program has been created for the city. The commission determined the housing shortage was
Modular Homes to Meet Affordable Housing Needs Read More
The Texas Manufactured Housing Association (TMHA) informs MHProNews that the House Urban Affairs Committee of the Texas Legislature voted in support of HB 2954. Administered by the Manufactured Housing Division of the Texas Dept. of Housing & Community Affairs, the measure would establish a down payment assistance program for manufactured
Bill would Offer Down Payment Assistance for MH Buyers Read More
MarketWatch informs MHProNews manufactured and modular home builder Deer Valley Corp.’s wholly-owned subsidiary, Deer Valley Financial, Inc., (DVF) has entered an agreement to provide CIS Home Loans with a $2.5 million line of credit to increase its portfolio of retail mortgages for buyers of manufactured and modular homes. This will
Loans more Available for Factory-built Home Buyers Read More
MHProNews has learned from the National Association of Home Builders that House Resources Committee Chairman Rep. Doc Hastings (R-Wash.) has drafted legislation that would increase timer production on federal lands which in turn would help maintain healthy forests. Justin Wood, vice president of construction for Fish Construction NW Inc., based
Rising Wood Prices could Hamper the Housing Market Recovery Read More
As MHProNews has learned from CNNMoney, the seasonally-adjusted annual rate (SAAR) of housing starts topped one million in March for the first time since June 2008, 1.4 million, seven percent better than Feb. 2013 and a 47 percent improvement since last March, primarily attributable to the growth in multifamily construction
New Home Construction Tops One Million Read More
The stock market rebounded from the explosions at the Boston Marathon and the downturn in the Chinese economy that set the stage for the worst one-day sell-off this year, as each of the three indexes gained over one percent, in part on positive news from the housing industry. CNNMoney reports
Stock Market Bounces Back from Tough Day April 15 Read More
NationalMortgageNews informs MHProNews the composite index default rate for first time mortgages gained five basis points from February, 2013 and a 46 basis point improvement from March a year ago, according to S&P/Experian Consumer Credit Default Indexes. The composite index for first mortgage loans ended March at 1.41%, compared to
Mortgage Default Rate Falls Read More
MHProNews has learned from the National Association of Home Builders (NAHB) figures released by HUD and the Census Bureau indicate total housing starts—single-family and multifamily– rose by seven percent in March, propelled by a 31.1 percent increase in new multifamily construction. As we have reported several times earlier, the rental
Multifamily Starts Still Strong Read More
MoneyMorning tells MHProNews residential construction is currently 2.44% of the gross domestic product (GDP), half of its historical norm, even with last year’s increases in new home construction. According to a Bloomberg survey of economists, housing starts are expected to increase by roughly 20% this year, and over the next
Economists Expect Home Construction to Rise nearly 20% Read More
Following up on a story MHProNews posted April 12, 2013 concerning a Delaware initiative to provide up to $5,000 to help manufactured home owners in financial hot water, we have learned Del. manufactured homes are registered through the Dept. of Motor Vehicles like automobiles, a throwback to the early days
Delaware Manufactured Homes Registered as Autos Read More
As MHProNews reported Nov. 13, 2012, CEO Philip Fraser of Killam Properties, Inc., calling Ottawa (the Canadian capital) “one of the strongest cities for long-term investment in Ontario,” announced the company purchase of a 25% share with a Kuwaiti company for a 146-unit apartment development. Also in Ottawa, Killam acquired
According to a story MHProNews posted April 8, 2013 about Northstar Realty Finance Corp. acquiring 71 manufactured housing communities at a cost of $865 million based on information we received from the National Real Estate Investor (nreionline), we now learn from BusinessWire that RHP Properties, Inc. of Farmington Hills, Mich.
New Twist on a Recent Transaction Read More
The newsherald informs MHProNews from Panama City, Fla., a battle going on since June 2012 is pitting city commissioners against the owner of Mill-Village MHC, Katy Adair, for having two Federal Emergency Management Agency (FEMA) park model trailers in the community in violation of a city ordinance. Code enforcement says
Battle Awakes over Placement of FEMA Park Model Trailers Read More
The slowing of Chinese industrial growth in the first qurter of 2013 had already lowered U. S. stocks when word arrived of the explosions at the Boston Marathon, which sent the Dow 120 points lower. The Nasdaq and S&P both dropped over two percent. CNNMoney reports the Dow Jones Industrial
Marathon Bomb Shocks Housing Stocks and Indexes to Drop Read More
