Manufactured and Modular Housing News

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.

MHI Responds to Unexpected Testimony at Congressional Hearing

By / February 7, 2012 / Advocacy, Business, Communities, Economy, Legislation, Manufactured and Modular Housing News, Manufactured Homes, People, regulation

MHProNews.com has received a memorandum from Joe Stegmayer, Chairman of the Manufactured Housing Institute (MHI), regarding testimony at last week’s House Financial Services Committee hearing on HUD’s implementation of the Manufactured Housing Improvement Act of 2000. Noting the difficulty in gaining the attention of Congress, Stegmayer emphasizes the extended effort …

MHI Responds to Unexpected Testimony at Congressional Hearing Read More

Rep. Bachus: Stop the Hemorrhaging Federal Programs

By / February 7, 2012 / Advocacy, Business, Economy, Legislation, Manufactured and Modular Housing News, People

The USA Today tells MHProNews.com an op-ed piece by Congressman Spencer Bachus, R-AL, Chairman of the House Financial Services Committee, says we need more private investment that create jobs, not more failed government programs. Saying Pres. Obama’s policies have failed to help struggling homeowners and the programs are too expensive, …

Rep. Bachus: Stop the Hemorrhaging Federal Programs Read More

Manufactured Housing Composite Moves Closer to 1000

By / February 7, 2012 / Business, Manufactured and Modular Housing News, Stocks

CNNMoney tells MHProNews.com U.S. markets edged up on reports Greece may have found backing for a bailout. The Dow Jones Industrial Average gained 33.07 points, + 0.26 percent, closing at 12,878.20. The Nasdaq gained +2.09 points, +0.07 percent, while the S&P rose 2.72 points, 0.20 percent. The Yahoo! Finance Manufactured …

Manufactured Housing Composite Moves Closer to 1000 Read More

Neighborhood of Green Modular Homes

By / February 7, 2012 / Company News, Factory-Built Homes, Green, home buyers, Manufactured and Modular Housing News, Modular

DunedinPatch in Florida tells MHProNews.com in looking at five ‘green’ developments in Dunedin, the Glencairn Cottages stand out as a modular home neighborhood two blocks from downtown. Each of the fourteen homes have 1,500 to 2,000 square feet, attached garages, gourmet kitchens, and energy-efficient appliances, insulation, pipes and ductwork. Built …

Neighborhood of Green Modular Homes Read More

BOA Loans UMH $$ to Refinance MHCs

By / February 6, 2012 / Business, Communities, Company News, Manufactured and Modular Housing News, Manufactured Homes

PR-USA tells MHProNews.com that UMH Properties, Inc., of Freehold, New Jersey, took out a $11.4 million mortgage loan with Bank of America to refinance two manufactured housing communities in Ohio and Tennessee. At a fixed all-in rate of 4.39 percent, monthly principal payments will be $26,113. Payoff date is Feb. …

BOA Loans UMH $$ to Refinance MHCs Read More

NAHB’s Improving Market Index Grows by 29 Metro Areas

By / February 6, 2012 / Advocacy, Business, Economy, home buyers, Manufactured and Modular Housing News, People, Trends

The National Association of Home Builders (NAHB)/First American Improving Markets Index (IMI) identifies metro areas that have shown improvement in housing permits, employment, and house prices for six consecutive months. MHProNews.com has learned the Housing markets that meet this criteria expanded by 29 for Feb. to 98, and include some …

NAHB’s Improving Market Index Grows by 29 Metro Areas Read More

Is This the Revolving Door Our Parents Warned Us About?

By / February 6, 2012 / Business, Company News, Manufactured and Modular Housing News, People

MHProNews.com has learned from PHH Mortgage that retired chairman of the Philadelphia Federal Reserve Bank Charles Pizzi has joined the PHH board of directors. According to HousingWire, despite trying to recover from $423 million in debt, the company closed on $36.3 billion mortgages through Q3, 2011, an increase of 19 …

Is This the Revolving Door Our Parents Warned Us About? Read More

Dow Drops, Deer Valley and Nobility Homes Deliver

By / February 6, 2012 / Business, Manufactured and Modular Housing News, Stocks

In response to continued waiting for the Greek government to come up with a plan to avert defaulting on its debt, CNNMoney tells MHProNews.com the Dow Jones Industrial Average nudged down -0.13 percent, 17.1 points, before closing at 12,845.31. The Nasdaq dropped the same percent, -0.13, while the S&P slid …

Dow Drops, Deer Valley and Nobility Homes Deliver Read More

Cordray’s Appointment Challenged in Court

By / February 6, 2012 / Legal, Manufactured and Modular Housing News, People

HousingWire tells MHProNews.com that 39 Republican senators filed an amicus brief with the court challenging Pres. Obama’s recess appointment of Richard Cordray to head the Consumer Financial Protection Bureau (CFPB). Republicans believed Cordray was qualified for the job, but they wanted a five-member panel to run the agency, veto power, …

Cordray’s Appointment Challenged in Court Read More

Economic Recovery without the Housing Market?

By / February 6, 2012 / Business, Canada, Economy, home buyers, Manufactured and Modular Housing News, People, Trends

GlobeandMail of Toronto tells MHProNews.com the economic recovery in the U.S. is beginning without help from the housing market. Recovery from economic slumps going back decades meant the real estate market pulled everyone else along, according to columnist Brian Milder. Karl Case, who co-developed the S&P Case/Shiller Index that tracks …

Economic Recovery without the Housing Market? Read More

Bill Would Provide State Funding for MH

By / February 6, 2012 / Advocacy, Business, home buyers, Legal, Legislation, Manufactured and Modular Housing News, Manufactured Homes, People

Joe Kelly of the Iowa Manufactured Housing Association tells MHProNews.com HSB 593 would create a manufactured housing program fund to assist consumers with buying MH, especially if they are moving into land lease communities (LLC). Supported by Gov. Terry Branstad and leaders in the legislature, the bill authorizes the revolving …

Bill Would Provide State Funding for MH Read More

Who Said All the Bad Actors are Gone?

By / February 6, 2012 / Advocacy, Business, Economy, Factory-Built Homes, Legal, Legislation, Manufactured and Modular Housing News, Manufactured Homes, People, regulation

Manuel Santana, director of engineering for Cavco Industries, told a congressional subcommittee HUD’s negligence in implementing the Manufactured Housing Improvement Act of 2000 has contributed to the industry’s 80 percent decline in production. In testimony prepared for the House Financial Services Subcommittee on Insurance, Housing and Community Opportunity, he said …

Who Said All the Bad Actors are Gone? Read More

Statistics Show Slight Improvement in Employment—Maybe

By / February 5, 2012 / Business, Economy, Finance, home buyers, Manufactured and Modular Housing News

MHProNews.com has learned from NationalMortgageNews refinancings have led mortgage companies to add 3,000 employees to their rosters since September. While the U.S. Bureau of Labor Statistics (BLS) says mortgage firms employed 265,000 full time personnel at year’s end, year-over-year employment at mortgage firms actually fell 5.4 percent last year. Of …

Statistics Show Slight Improvement in Employment—Maybe Read More

Selling your LLC? “Buy All the Homes,” says the County

By / February 4, 2012 / Business, Communities, Factory-Built Homes, Legislation, Manufactured and Modular Housing News, Manufactured Homes, mobile home, People, regulation

Noozhawk tells MHProNews.com the Santa Barbara County Planning Commission in California is considering an ordinance that would require MHC owners to file for a closure permit if they are selling their community, and to pay all residents market value for their homes. Commissioner C. Michael Cooney says the measure is …

Selling your LLC? “Buy All the Homes,” says the County Read More

Mfg. Housing Composite and Cavco Skyrocket over 12 Percent

By / February 3, 2012 / Business, Manufactured and Modular Housing News, Stocks

The Labor Department’s report of 243,000 new jobs in January, and falling unemployment drove all three U.S. market indexes to end the week on a high note. CNNMoney tells MHProNews.com the Dow Jones Industrial Average has gained five percent in 2012, reaching its highest level since 2008, gaining 156.82 points …

Mfg. Housing Composite and Cavco Skyrocket over 12 Percent Read More

York International Recalls MH Furnaces—Again!

By / February 3, 2012 / Business, Factory-Built Homes, Manufactured and Modular Housing News, Manufactured Homes

According to Consumer Reports, York International has re-announced a recall of gas furnaces made for manufactured homes following 393 incident calls since the furnaces were manufactured 1995-2000. 336 of the calls have come in since 2004, when the first recall was announced. Sold under the brand names Coleman, Coleman Evcon, …

York International Recalls MH Furnaces—Again! Read More

Polymer Modular Unit: New Temporary Shelter?

By / February 3, 2012 / Company News, Factory-Built Homes, Manufactured and Modular Housing News, Modular, Trends

A new German design for temporary housing utilizes leaf-like panels made of fiber-reinforced polymer that fit together to create a self-supporting modular dome. Inhabitat tells MHProNews.com the panels are translucent, allowing in daylight and spreading light at night. At 1650 lbs. it has a high strength-to-weight ratio, is easily moveable, …

Polymer Modular Unit: New Temporary Shelter? Read More

RV/MH Hall of Fame gets $$ Boost

By / February 2, 2012 / Awards, Business, Company News, Factory-Built Homes, Manufactured and Modular Housing News, Manufactured Homes, mobile home, People, RV

Frontier Communications Corp. of Stamford, Conn. donated $10,000 to the RV/MH Hall of Fame in Elkhart, Ind. according to RVBusiness. A major provider of communications products to northern Indiana consumers, according to Tom McNulty, executive director and president of the museum, the funds will help maintain the financially struggling facility. …

RV/MH Hall of Fame gets $$ Boost Read More

Cavco’s Earnings Skyrocket

By / February 3, 2012 / Business, Company News, Factory-Built Homes, Manufactured and Modular Housing News, Manufactured Homes, Modular, People

AZCentral tells MHJProNews.com that Phoenix-based Cavco Industries, Inc. reported at its earnings webcast Feb. 2 its profits mushroomed compared to last year. Net income for the third quarter 2012 which ended Dec. 31 was $1.68 million, or .24 cents a share, as opposed to $24,000 for the same period a …

Cavco’s Earnings Skyrocket Read More

Investors Shy Away from Market Following Bernanke’s Caution

By / February 2, 2012 / Business, Manufactured and Modular Housing News, Stocks

Federal Reserve Chairman Ben Bernanke told Congress full economic recovery may be three years away. Although noting some signs of improvement, his comments elicited speculation that the Fed may stimulate the economy if it deteriorates further. CNNMoney tells MHProNews.com earlier in the day the Dow Jones Industrial Average hit 12,740 …

Investors Shy Away from Market Following Bernanke’s Caution Read More

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