The Federal Housing Administration (FHA) has revised the loan limit ceiling for single-family mortgages in 2014, reducing it to $625,000 from $729,750. The change will result in approximately 650 counties having lower limits, according to what dsnews.com reports from the Department of Housing and Urban Development (HUD). For low-cost housing …
The Virginia Manufactured and Modular Housing Association (VMMHA) informs MHProNews the implementation of Dodd-Frank regulations by the Consumer Financial Protection Bureau (CFPB) that negatively impact the manufactured housing industry will not be delayed as requested by members of the U. S. Senate. CFPB Director Richard Cordray sent a letter to …
Consumer Financial Protection Bureau Rejects Delaying Dodd-Frank Read More
The National Association of Home Builders (NAHB) Chairman Rick Judson issued a statement applauding the confirmation of Rep. Mel Watt to head the Federal Housing Finance Agency (FHFA), MHProNews has learned. Noting his experience working on housing issues as a member of the House Financial Services Committee for almost two …
Rep. Mel Watt Chosen to Lead the Federal Housing Finance Agency Read More
A Nashville, Tennessee man has been convicted of seven counts of bank fraud for submitting false invoices from a modular home manufacturer based on down payments that were not in fact received, and then misrepresenting the status of construction of the homes. Keith Churn made false statements to the bank …
Man Churns Waters of the Secret Service, Faces Jail Read More
Following up on a post MHProNews last published May 7, 2013 regarding Wheel Estates Mobile Home Park in North Adams, Massachusetts becoming cooperatively-owned, the Rec Hall that serves the residents has undergone a complete transformation, with new ceilings and floors, new paint on the walls, and refurbished front and back …
Residents Taking Care of Business at New Community Cooperative Read More
Over 150 residents representing 30 manufactured home communities (MHCs) attended an informational seminar in Pismo Beach, California hosted by Golden State Manufactured Home-owners League (GSMOL), San Luis Obispo Mobilehome Residents Assistance Panel and North Santa Barbara County Manufactured-Homeowners Team. David Loop discussed the steps involved in attaining community ownership status, …
Speakers Address Rights of Manufactured Home Community Residents Read More
Clayton Homes participated in the Tennessee Valley Authority’s (TVA’s) ENERGY STAR Manufactured Homes pilot program, conceived to encourage more production of energy efficient homes by the manufactured housing industry and to motivate consumers to upgrade to ENERGY STAR qualification. The pilot program was awarded honorable mention by the American Council …
Award-winning ENERGY STAR Program Includes Clayton Homes Read More
Marking the 20th consecutive month of yearly increases, home prices in the U. S. increased 12.5 percent in October, compared to last year, according to CoreLogic. The worldpropertychannel reports CoreLogic’s Home Price Index, when including distressed sales, rose just 0.2 percent in October, 2013. Anand Nallathambi, president and CEO of …
When John Samples received $750,000 funneled through the Osage City City Council and the Kansas Department of Commerce in 2006 for his Kan Build modular housing business via a Community Development Block Grant (CDBG), it was considered a safe gamble. Samples was a successful businessman who had received accolades including …
Modular Housing Producer Sued for Lost Block Grant Funds Read More
Ever since a contractor accidentally cut power to the Beladean Trailer Park in Surrey, British Columbia, Canada two-and-one-half months ago, the remaining six residents (down from 11 since Sept.) have relied on generators for heat, but have been without phone service. MHProNews has learned from metronews.ca the manager of the …
According to Bank of the West Chief Economist Scott Anderson, many potential home sellers have been watching prices increase on homes, waiting for the right time to sell. He says, “If they see that softening in home prices, I think you will see more potential sellers jump into the market. …
Land lease community (LLC) owner Killam Properties, Inc. of Halifax, Nova Scotia, Canada announces George J. Reti has retired as chairman of the board and director effective Nov. 29, 2013. He joined the board when Killam became publicly-traded in 2002 and served as chairman since 2003, taking the company from …
The Jump Start federal housing program is credited for backing the construction of seven modular homes in the PrairieView subdivision of Forest City, Iowa in the north central part of the state. A qualified candidate can receive a grant up to $37,500 towards the purchase of a home valued at …
The flooding that ravaged Colorado in Sept. destroyed 154 manufactured homes (MH) and damaged 901 additional MH, displacing thousands of residents in the 11 manufactured housing communities (MHC) in the flood zone, according to Kerri Nelson, the state’s deputy chief recovery officer. Some communities may spring back to life with …
Flooded Manufactured Home Victims Deal with Destruction Read More
The Preserving Access to Manufactured Housing Act of 2013—HR 1779—remedies the unintended consequences of the Dodd-Frank Act that disproportionately affect affordable manufactured home lending. To date, 20 Democrats and 85 Republicans have signed on as co-sponsors of the legislation, indicating momentum is growing, but more support is needed to insure …
While the percentage of Millennials (ages 18-31) moving back with their parents rose from 34 percent in 2009 to 36 percent in 2012, as MHProNews reported Aug. 6, 2013, Trulia.com reports multi-generational living is going in another direction as well: The number of seniors living with their children and other …
Seniors Joining Millennials in Ranks or those Living with Relatives Read More
Publicly-owned investment company Capital Southwest Corp. (Nasdaq:CSWC) has announced that Kelly Tacke has joined the firm as Senior Vice President, Chief Financial Officer (CFO), and Treasurer, having moved over from Palm Harbor Homes, Inc. where she served as Executive Vice-President and CFO. Palm Harbor is a subsidiary of Cavco Industries, …
Avalon Properties has brought in 100 new and remodeled manufactured homes to Desert Mountain Estates, a manufactured housing community it bought when it contained ten dilapidated factory-made homes and a history of police runs because of criminal activity. Located outside Alamogordo in south central New Mexico, the community is owned …
Manufactured Housing Community Restored in New Mexico Read More
Joe Kelly, executive vice president of the Iowa Manufactured Housing Association (IMHA), noting the importance to the manufactured housing industry of HR 1779, exhorts members to contact their representative in Congress to support the bill. He tells MHProNews Iowa only has four representatives in the House, and of those, Representatives …
The latest Zillow Home Price Expectations Survey reveals home values have been rising quickly this year and will end at 6.7 percent over 2012. The next five years will see that rise cool off, falling to 4.3 percent appreciation in 2014 and 3.4 percent by 2018. Zillow Chief Economist Dr. …
