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.
The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey for the week ending December 17, 2010, finding mortgage loan application volume decreased 18.6 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 20.0 percent compared with the previous week. The …
After stepping back in October, reversing into the negative territory, the Architecture Billings Index (ABI) rose more than three points in November to reach its highest mark since December, 2007. As a leading economic indicator of construction activity, the ABI reflects the approximate nine-to-twelve-month lag time between architecture billings and …
Architecture Billings Index Reaches Highest Score Since 2007 Read More
Manufactured housing may not benefit in the future from retirees relocating to warm climates. A new study by AARP finds that an early cohort of the Boomer generation likely will dispel the myth that most retirees want to move to retirement havens in warmer climates. Few leading-edge Boomers have plans …
The Manufactured Housing Composite Value declined Wednesday after two days of gains. Individual stocks performed well, however. They include Nobility Homes, up 2.3 percent, and Cavco, up half of a percent. Skyline Corp. was off more than five percent. The Dow closed up 26 points.
Housingwire.com reports that mortgage finance industry executives are asking regulators to adopt national standards for the securitization of home loans as soon as possible, starting with the disclosure and risk retention rules outlined in Dodd-Frank. An “open letter to U.S. regulators regarding national loan servicing standards” signed by 52 financial …
Open Letter Takes Aim at Secondary Mortgage Market Read More
The days that remain before the Federal Trade Commission (FTC) begins enforcement of its Red Flag Rule can be counted with fingers. Enforcement will begin December 31. The regulator issued regulations known as the Red Flag Rule in 2007 requiring financial institutions and creditors to develop and implement written identity …
Federal Trade Commission (FTC) to Begin Enforcement of Red Flag Rule Read More
After reporting on a welcomed effort to upgrade the homes in a city-owned manufactured housing community, MHMSM.com wrote to the city suggesting a name upgrade may also be in order. The letter to Santa Monica Mayor Richard Bloom reads: “I was delighted to read recently in Lookout News that the …
Coming after the New Year, MHMSM.com will provide an exclusive interview with Teresa Payne, Associate Deputy Assistant Secretary at HUD’s Office of Regulatory Affairs. In the popular format of “A Cup of Coffee with…” interview, Payne discusses the uncertain economic climate impacting the manufactured housing industry and the role of …
The Federal Communications Commission (FCC) approved new rules concerning the concept known as net neutrality this week, but criticism came quickly from both sides of the debate. The Federal Communications Commission says it acted to preserve the Internet as an open network enabling consumer choice, freedom of expression, user control, …
The Manufactured Housing Composite Value rose again on Tuesday, adding more than three percent. Some of the best performers include Skyline Homes, up more than four percent, and Cavco, up more than three percent. Universal Forest Products and Barnes Group also rose. UMH Properties and All American Group closed lower. …
Kentucky Governor Steve Beshear recently appointed insurance agent Samuel Earl Lee to the Kentucky Housing Corporation Board of Directors to serve for a term expiring Oct. 30, 2014. Lee will represent the interests of the manufactured housing industry. At the time of publication, Lee had not returned our call requesting comment.
From Missouri, Knox.com reports about an effort underway to keep manufactured homes and other personal property items from being subject to a tax. According to the report, Richard LaViolet has approval from the Secretary of State to begin collecting signatures for a constitutional amendment that would do away with Missouri’s …
Missouri Man Goes to Battle with Tax on Manufactured Homes Read More
From the Omaha World-Herald comes an upbeat article on manufactured housing by Erik Martin. The item, which ran in the real estate section, finds shoppers seeking to make their housing dollars go further in the current economy are taking a closer look at manufactured homes. “After looking at the options …
Nebraska Paper Puts Spotlight on Manufactured Homes Read More
Iowa Manufactured Housing Association Exec Joe Kelly sent out a notice this week that those who sell homes for under $25,000 in that state are required to register with the Attorney General of Iowa. Kelly says the second factor determining a registration requirement is that the home must be sold …
Recent news stories highlight the importance for the manufactured home industry of providing reporters and editors with the information necessary to get the terms right. As several recent cases concerning fires in likely pre-HUD Code mobile homes demonstrate, new reports frequently and inadvertently paint manufactured homes in a bad light, …
News Stories Highlight Importance of Media Education on Manufactured Homes Read More
Improvements in consumer spending and consumer confidence, increased demand for goods and services, and falling unemployment claims are all positive factors for a brighter outlook as we move into 2011, according to the December 2010 Economic Outlook released today by Fannie Mae’s (FNMA/OTC) Economics & Mortgage Market Analysis Group. Downside …
Economic Outlook Brightens According to Fannie Mae Read More
The Manufactured Housing Composite Value lurched forward two more percentage points Monday as major stocks logged gains in their share price. Cavco ended the day up more than four percent, Nobility Homes was up more than five percent and Skyline Corp. gained more than one percent. Equity Lifestyle Properties and …
Zack’s Investment Research reveals that analysts expect Cavco will end 2010 with profits following losses in 2009. Zack’s says in the last fiscal year, the company lost $0.52 per share. Cavco Industries is now estimated to attain profitability and earn $0.09 per share this year, based on 6.6 million shares …
Analysts Expect Cavco to Show Substantial Profit for 2010 Read More
From North Carolina, the Salisbury Post reports the City Council there will consider a large rezoning of approximately 43.6 acres from General Residential to Manufactured Home Development. According to a memo cited in the report, the rezoning alleviates a nonconforming situation for this residential area that is primarily developed with …
Rezoning to Alleviate Nonconforming Situation for Manufactured Homes Read More
The Federal Trade Commission (FTC) will begin enforcement of the Red Flags Rule on December 31, 2010. The FTC issued regulations (the Red Flags Rule) on November 9, 2007 requiring financial institutions and creditors to develop and implement written identity theft prevention programs as part of the Fair and Accurate …
