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.
Adding onto an MHProNews story from Jan. 21 about the Consumer Financial Protection Bureau’s (CFPB) new mortgage servicing rules, the Texas Manufactured Housing Association (TMHA) offers a detailed summary from the American Banker’s Association (ABA). CFPB director Richard Cordray says, “We will exercise our supervision and enforcement authority to make […]
Details on New Mortgage Servicing Read More
The Observer reports NYC’s Bloomberg Administration’s My Micro NY competition to create a miniature housing model for the city was won by Monandock Development in collaboration with the Actors Fund for Housing Development and modular home builder Capsys, which is based in the Brooklyn Navy Yard. Although it is illegal
The Big Apple Bites into Mini Modulars Read More
CNNMoney reports according to the National Association of Realtors (NAR) sales of previously owned homes in 2012 recorded their best year since 2007, nine percent over 2011, to 4.65 million homes sold. As MHProNews has learned, Dec. year-over-year sales were up 12.8 percent. NAR says low interest rates, falling unemployment,
2012 Home Sales Best since Downturn Read More
Positive corporate earnings reports inspired investors as the Dow and the S&P rose to their highest levels since Dec. 2007. CNNMoney reports the Dow Jones Industrial Average gained +0.46%, 62.43 points, to end the day at 13,712.13. The Nasdaq moved up +0.27%, +8.47, to close at 3,143.18, while the S&P
Skyline Spikes, Patrick Sputters, Dow and S&P Hit 5-year High Read More
The magnoliareporter informs MHProNews from Arkansas the Magnolia Planning Commission placed a temporary moratorium on the siting of manufactured housing in the town, following a survey in which approximately two-thirds of the respondents favor more regulation of manufactured homes. One third of those surveyed say the government has no business
Planners may Tighten Siting of MH Read More
The Star-Telegram reports from Fort Worth, Texas Stramit USA utilizes wheat straw to make modular man camps for the burgeoning oil boom towns. By treating and compressing the wheat fiber, boards are made for construction and insulation. Tim Evans of Stramit compares it to fiberglass and foam. “Wheat straw and
A New Meaning for ‘Straw House’ Read More
A source at the Louisville Manufactured Housing Show has told MHProNews that: “There is a real hunger out there for business building seminars and information.” Along with 39 new models—including community series homes—and 80 exhibitors, the networking, dealmaking, and education have all blended together to create an unbeatable event to
A Little ‘Oh, no’ drama, but the Show is a Go Read More
SFGate reports modular builder Greenfab of Seattle will have two fully-constructed modular homes on display at the National Association of Home Builders’ (NAHB) International Builder’s Show (IBS) in Las Vegas Jan. 22-24. The builder of the first modular LEED Platinum home in the state of Washington last year, Greenfab is
Modular at International Builder’s Show Read More
The U.S. stock markets are closed today in honor of Dr. Martin Luther King’s birthday. The New York Stock Exchange will reopen tomorrow at 9 AM for a regular day of trading. (Image credit: Wikipedia)
U.S. Stock Markets Closed Today Read More
CNNMoney informs MHProNews that first-time jobless claims fell to 335,000 for the week ending Jan. 12, falling to a near five-year low, and 37,000 less than the previous week, according to the Labor Dept. While economists had expected a reading of 370,000, they say it is a good sign but
First-time Jobless Claims Near Five-year Low Read More
According to nationalmortgagenews, a final rule from the Consumer Financial Protection Bureau (CFPB) asserts mortgage applicants must be provided with all appraisal and and other home-value estimates by the lender before closing. Says CFPB director Richard Cordray, “This rule will guarantee consumers can receive important information on how a lender
CFPB: Appraisal Transparency in Lending Read More
Although they did not win the competition sponsored by Alltech of Nicholasville, Kent., to create jobs in eastern Kent., students from the University of Louisville proposed mixed-income, single-family modular homes selling for $110,000 each that would create 122 jobs. Utilizing design work created by a partnership with the University of
Kent. Students Design Modular Homes Read More
As the nationalmortgagenews tells MHProNews, while the much-awaited Consumer Financial Protection Bureau’s (CFPB) Qualified Mortgage rule issued Jan. 10 covers rules to determine borrowers’ ability to repay loans and lenders’ protection from liability, it fails to address a required minimum downpayment. Regulators had originally proposed a 20% minimum, but need
Minimum Downpayment not Specified by CFPB Read More
The Manufactured Housing Association for Regulatory Reform (MHARR) reports the Dept. of Housing and Urban Development (HUD) has issued a final rule on the testing of roof trusses in high wind zones for manufactured housing, and is following some of the recommendations made by the Manufactured Housing Consensus Committee (MHCC).
MHARR: HUD’s New Truss Tests add Costs Read More
SeekingAlpha, noting trends in the global economy, picks out five stocks it says will be lucrative in the long run, and one of them is Berkshire Hathaway (BRK-A, BRK-B). As the housing market continues to recover, columnist Frank J. Constantino says Berkshire does has a broad range of investments, but
Got Time? Buy Buffett’s Brain Read More
Although the Dow and the S&P moved up just enough at the close of the day to hit five-year highs ending the week, the Nasdaq finished in the red. Meanwhile, investors were busy digesting corporate financial reports. CNNMoney reports the Dow Jones Industrial Average moved up +0.39 percent, +53.68 points,
Dow and S&P Spark; Many Housing Stocks Nudge Up Read More
MarketWatch reports that Calgary, Alberta Canada-based Black Diamond Group Limited has completed the acquisition of 90 percent of the modular rental business and 20 percent of the modular building manufacturing business of Australian Portable Buildings Pty. Ltd. MHProNews has learned Black Diamond is a remote lodging, modular building, and energy
Black Diamond Completes Shopping in Australia Read More
In a Meet the Media Morning at the Louisville Manufactured Home Show Thurs. Jan. 24, from 9-11 AM, the press has been invited to see the quality of factory-built homes for themselves to dispel the misconceptions about the industry and the product. Top-named officials in the industry, companies associations and
At Louisville: Industry Execs Meet the Press Read More
DailyMarkets reports from Freehold, New Jersey UMH Properties, Inc. (UMH) board chairman Eugene W. Landy said the board of directors declared a quarterly cash dividend of $0.18 per share payable March 15, 2013 to shareholders of record as of Feb. 15, 2013. In addition, the board declared a quarterly dividend
UMH Declares Common & Preferred Dividend Read More
CNNMoney says the Census Bureau reports new home construction rose 12 percent Dec. 2012 over Nov. 2012 to a seasonally-adjusted annual rate (SAAR) of 954,000, well beyond the 889,000 expected by economists at Briefing.com, and almost 37 percent higher than Dec. 2011. While applications for building permits in Dec. changed
New Home Construction Spikes Read More
