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.
RVBusiness reports Elkhart, Indiana-based Patrick Industries has acquired Creative Wood Designs, Inc. of Ligonier, Ind. for $5.7 million, which includes a contingency payment based on future performance. With expected revenues for 2012 of $18 million, Creative Wood Designs produces hardwood furnishings and trim for the recreational vehicle industry, and marks […]
Patrick Acquires Furniture Maker Read More
The House Financial Services Committee says after an extensive nine month audit by the Government Accountability Office (GAO) of the Financial Stability Oversight Committee (FSOC) and the Office of Financial Research (OFR), both creations of the Dodd-Frank Act, public information of their activities is limited. Financial Services Committee Chairman Spencer
Dodd-Frank Entities Lack Transparency and Accountability Read More
The Federal Reserve announced it will buy $40 billion of mortgage-backed bonds each month for as long as it deems necessary to stimulate the economy, and the three indexes responded with smiles, each posting somewhat modest gains. CNNMoney reports the Dow Jones Industrial Average advanced +0.40percent, +53.51 points, to end
Housing Composite, Tracked Housing Stocks all Smiling Read More
dailycamera reports from Lafayette, Colorado just north of Denver residents of Arbordale Acres MHC are upset over new clauses inserted in their leases this summer that prevents them from subletting their homes. Additionally, a home is considered abandoned if it is not sold or occupied by an approved tenant within
MHC Residents Upset over New Lease Read More
piquenewsmagazine reports from Pemberton in British Columbia, Canada north of Vancouver, a 22 unit modular building will provide affordable housing for seniors and people with disabilities. Pemberton Villas meet EnerGuide 80 standards and contain features designed for seniors and people with disabilities. The four million dollar project was funded by
Modular Housing part of Collaborative Effort Read More
nationalmortgagenews says, according to a new government report, servicers that work on delinquent FHA (Federal Housing Administration)-insured mortgages are shoring up the agency’s losses on insurance claims because they are becoming more adept at dealing with short sales. The FHA says its servicers completed 27,150 short sales for the first
Long Strides in Short Sales Read More
HousingWire reports the Obama administration’s August Housing Scorecard says the number of underwater borrowers fell from 12.1 million if the fourth quarter of last year to 10.8 million at the end of Q2 2012, a drop of 11 percent, according to data from CoreLogic. The most recent numbers show the
Administration’s Housing Scorecard Shows Modest Gains Read More
gigaom reports modular home producer Blu Homes has raised $60 million through global equity investment fund manager Skagen Group of the Netherlands. Blu bought the intellectual property rights and modular designs from Michelle Kaufmann Designs last year after that company closed its doors in 2009. As MHProNews reported Jan. 16,
therealdeal informs MHProNews that Sam Zell, CEO of Equity Lifestyle Properties, Inc. has taken the helm of Equity International in the wake of the sudden departure of its CEO and co-founder Gary Garrabrandt, and chief strategic officer Thomas McDonald. Equity International primarily invests in or buys existing real estate companies
Sudden Resignations Put Zell Back in Driver’s Seat Read More
The Federal Reserve’s new bond-buying plan shook the cobwebs loose from the stock market, rallying the Dow and the S&P to their highest closing levels since Dec. 2007, and the Nasdaq rose to its highest point since Nov. 2002. CNNMoney reports the Dow Jones Industrial Average spiked 1.55 percent, 206.51
All Three Indexes Rally Big; Housing Stocks close Mixed or Even Read More
originationnews reports banks under the $10 billion threshold for compliance with the ever-shifting Dodd-Frank Act are unsure of which aspects of the measure apply to them, and are outsourcing because their own IT departments cannot keep track of the provisions that are delayed and/or rewritten. Cashmere Valley Bank in Washington
Dodd-Frank Act is No Straight Shot Read More
nationalmortgagenews (NMN) tells MHProNews the Mortgage Bankers Association (MBA) says mortgage applications jumped 11 percent for the week ending Sept. 7 after several weeks of decline. Noting the holiday may have given potential borrowers an extra day to apply online, the trade group says refinancings accounted for 80 percent of
Benzinga says UMH Properties, Inc. has announced it has acquired two manufactured housing communities in Ohio for $5.9 million, bringing their ownership of MHCs to 55 communities comprised of approximately 10,400 homesites. The 280 sites, situated on 62 acres, average 89 percent occupancy. UMH President Samuel A. Landy says the
UMH Expanding its Portfolio Read More
oaoa reports the Odessa, Texas City Council approved plans for a 100 acre, 1,000 plus homesite manufactured housing community to ease the shortage of housing in the city. Odessa Mayor Larry Melton says, with rental rates going through the ceiling, “It’s a temporary solution to an existing problem,” adding the
Large MHC Approved for Odessa Read More
FloridaToday reports Deland, Florida-based ConSol International, LLC is shipping eight modular homes from Port Canaveral to an indigenous First Nation community in Labrador, part of Newfoundland on the Atlantic Coast of Canada. Con Sol’s co-owner Chris Wallington says he typically uses the Port of Jacksonville, to ship his modular homes,
Florida Modular Homes Headed to Canada Read More
Joe Kelly, executive vice-president of the Iowa Manufactured Housing Association (IAMHA), informs MHProNews that the Iowa Department of Revenue has notified local governments that land lease communities are not structured to qualify as co-ops under Iowa Code 499A. As a residential classification, co-ops pay only about half the taxes of
MHCs in Iowa cannot become Co-ops Read More
After falling to 13,320 earlier in the day and then climbing quickly to just over 13,360, CNNMoney says the Dow Jones Industrial Average finally settled for a very modest gain of +0.07 percent, +9.99 points, to end hump day at 13,333.35. The Nasdaq edged up +0.32 percent to 3,114.31, while
Nobility Spikes; Housing Composite, other Tracked Stocks Move Little Read More
YAHOO! Finance says Eugene W. Landy, Chairman of the Board, and Samuel A. Landy, President of UMH Properties, Inc. (NYSE:UMH) of Freehold, New Jersey, will present an overview of the company to the Philadelphia Securities Association at the Union League in Philadelphia, Pennsylvania, Wed. Oct. 10, 2012. The luncheon meeting,
UMH to Present Overview Read More
PattayaDailyNews from Bangkok, Thailand in Southeast Asia tells MHProNews the National Housing Authority is utilizing modular components such as doors, walls, windows, and roofing supports, to build homes that can float during flooding. Due to global warming and rising seas, it is anticipated Bangkok will be partially or wholly underwater
Amphibious Homes Being Built in High-risk Flood Areas Read More
From Canada, TumblerRidgeNews in north east British Columbia tells MHProNews Triland International is building a series of modular duplexes in Tumbler Ridge, the first major new housing project in that area. The top housing unit will have two bedrooms and two baths, while the bottom dwelling will feature three bedrooms
Modular Homes from Idaho going to Northern British Columbia Read More
