MHProNews has learned from marketwatch that UMH Properties, Inc. (NYSE:UMH) has financed four manufactured home communities (MHCs) through Wells Fargo Bank, NA for a total of $30 million. These Federal Home Loan Mortgage Corporation (Freddie Mac) mortgage loans mature in 10 years with principal repayments based on 30-year amortization schedules. …
According to nationalmortgagenews, the Federal Housing Finance Market (FHFA) will issue a final rule within the next 12 months requiring Fannie Mae and Freddie Mac to better serve the manufactured housing market and rural markets, and increase the preservation of affordable housing under the “duty-to-serve” mandate. The rule will therefore …
Secondary Market for Manufactured Home Loans Coming from FHFA Read More
MHProNews has learned from prnewswire that the board of directors of UMH Properties, Inc. (NYSE:UMH) has announced its quarterly cash dividend of $0.18 per share on the company’s common stock will be payable Dec. 15, 2015 to shareholders of record as of Nov. 16, 2015. The annual dividend is $0.72. …
Sun Communities, Inc. of Southfield, Michigan will release its third quarter earnings report on Tuesday, Oct. 27, 2015 before the market opens followed by a conference call to discuss the results at 11:00 AM eastern time later that same morning, according to nasdaq. Callers can participate at 888 427-9411. Sun …
Realizing that a ten-year restriction on manufactured homes (MH) brought into Ruidoso Downs in New Mexico was not realistic because, as Planning and Zoning Director Steve Dunigan said, “You could have a two-year old home that is a disaster versus a 27-year old home that has been kept up,” the …
MHProNews has learned from the Wisconsin Housing Alliance that the Department of Housing and Urban Development’s (HUD) Final Rule that allows manufacturers to complete the construction of manufactured homes on site instead of in the factory with gaining permission. The rule will eliminate the need for time-consuming approval under the …
HUD Finalizes Rule Regarding Onsite Completion of Manufactured Homes Read More
In 2013 the Montana Community Development Corporation (MCDC) helped the 68 residents of River Acres manufactured home community (MHC) in Missoula become a resident-owned community, as themissoulian tells MHProNews. The residents faced eviction because the owner wanted to sell, but now they have long-term, stable housing and control of their …
Montana non-profit Helps Manufactured Home Community Residents Form Co-ops Read More
MHProNews has learned from heraldpalladium the St. Joseph, Michigan commissioners heard the first reading on plans to alter zoning for multi-family districts so they would better blend in with other parts of the community. The planning commission had been directed to review the city’s R-3 zoning for properties that include …
St. Joseph, Michigan Amends Zoning to allow Manufactured Home Communities Read More
The Manufactured Housing Institute (MHI) informs MHProNews that data regarding lending at 7,000 financial institutions and covering nearly 10 million mortgage applications and six million loan originations reveals manufactured home lenders are not making HOEPA (Home Ownership and Equity Protection Act) loans because of the increased liability and burdensome rules …
Data Confirms Dodd-Frank Regulations Impede Manufactured Home Loans Read More
Following a story MHProNews posted Aug. 20, 2015 regarding the purchase of Signature Seating in New Haven, IN by Lippert Components, Inc. of Elkhart, IN, kpcnews reports the $16 million acquisition also includes a plant in Auburn, IN where Lippert will invest $800,000 in new equipment. While Lippert is seeking …
Lippert Seeking Tax Abatement for Newly Acquired Plant in Indiana Read More
What’s New in public focused Manufactured HomeLivingNews.com The Kennedy – Model Home Video Tour – New Durham Estates, Westville, IN Jack and Betsy Norman, Whispering Pines 55+ Manufactured Home Community, Somerset, PA What’s New in Manufactured Housing Industry Professional News Justice Dept. settles two MHC discrimination suits. Judge clears path …
Sunday Morning Recap-Manufactured Housing Industry News Sept. 20-Sept. 27, 2015 Read More
Montana State District Court Judge George Huss abruptly ended a jury trial early in Bozeman, and awarded a development corporation $650,000 to be paid by the Gallatin County Commission for denying a proposal to develop the Gateway Village subdivision and site factory-built homes, MHProNews has learned. The commission had denied …
Judge Orders Approval of Contested Factory-built Subdivision, Awards $650,000 Read More
The Manufactured Housing Institute (MHI) informs MHProNews that Darryl Searer, president and chairman of the RV/MH Hall of Fame in Elkhart, Indiana reports $54,000 was raised toward Kevin Clayton’s Debt Elimination Challenge at the 4th International Networking Roundtable for Land-Lease-Lifestyle Communities in San Diego, California. Champion Home Builders, Inc. donated …
$54,000 Raised Towards Eliminating RV/MH Hall Debt Read More
As soon as the manufactured home (MH) Donna Lewis purchased for $125,000 arrived, she realized there were problems, according to mynews4 in Reno, Nevada. “The home came severely damaged,” she told us. “It had an accident on the way. It looked like a bomb had gone off. Walls ripped open, …
Production Errors on Manufactured Homes Being Investigated Read More
MHProNews has learned from Nasdaq that Universal Forest Products, Inc. (NYSE:UFPI) has bright prospects for future growth but is dependent in the near term on housing construction, which is not consistent. The company earns top grades for expanding and improving its product line, and expects to generate sales of $3 …
Following a story MHProNews first posted Aug. 18, 2015 regarding a 3D printed home and car in a collaborative effort of Clayton Homes, the Oak Ridge National Laboratories (ORNL) and 20 other agencies including students from the University of Tennessee, the finished product was on display at ORNL’s Industry Day …
On the heels of the wild fires that have scorched areas of northern California in recent weeks and destroyed 1,230 homes, the Federal Emergency Management Agency (FEMA) took an aerial view of the Valley Fire devastation following President Barack Obama’s declaration of Lake County as a disaster zone. FEMA has …
While some have called it a 100-year flood, there’s no question about the rushing waters in June that destroyed the majority of Lusk, a small town in east central Wyoming near the Nebraska border, as starherald informs MHProNews. An auction of 100 donated items Sept. 18, 2015 raised $123,000 to …
FEMA Provides Manufactured Homes to Flood-damaged Wyoming Town Read More
At a meeting of the 350-member Manufactured Home Park Owners Alliance (MHPOA) of British Columbia, Canada the buzz was about the sale of communities, which has quickly become a hot real estate sector. Last year 22 manufactured home communities (MHCs) sold, with a transaction value of $30.7 million, a 26 …
More Manufactured Home Community Development Sought in BC Read More
The U.S. Department of Justice (DOJ) and Hope Fair Housing tell MHProNews that the DOJ has announced “that the owners and operators of the Williams Trailer Court mobile home park in Marion, Illinois, had agreed to pay $75,000 to settle allegations that they discriminated against African Americans and families with children, …
Justice Strikes Again – another Manufactured Home Operation Settles Case Read More
