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“Egregious and Unacceptable,” Fed Chair about Manufactured Home Connected Lender, MH Market Updates

September 20th, 2017

CNNmoney11.20.2017ManufacturedHomeStocksMarketsReportsMHProNewsIf you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline reports’ are found further below, just beyond the Manufactured Housing Composite Value for today.

The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets.

Part of this unique feature provides headlines – from both sides of the left-right media divide – that saves readers time, while underscoring topics that may be moving investors, which in turn move the markets.

Readers say this is also a useful quick-review tool that saves researchers time in getting a handle of the manufactured housing industry, through the lens of publicly-traded stocks connected with the manufactured home industry.

MH “Industry News, Tips and Views, Pros Can Use.” ©

Selected headlines and bullets from CNN Money:

  • Fed finally winding down historic rescue program
  • Bill Gates: Sorry about Control-Alt-Delete
  • Lawsuit: ICE center paid prisoners less than $1 per day
  • Sandberg ‘disgusted’ by anti-Semitic FB ad targeting
  • Apple Watch Series 3 is having connectivity issues
  • Tim Cook: I’m “shocked” there’s a DACA debate
  • Prestige TV puts premium on top writers
  • Equifax tweets fake phishing site to concerned customers
  • Struggling GE grounds fleet of corporate jets
  • How a woman’s appearance affects her career
  • Big sales for Hillary Clinton’s book

Selected headlines and bullets from Fox Business:

  • Stocks rise as Fed unwinds portfolio, sets up December rate hike
  • Federal Reserve straight talk
  • Fed keeps rates steady, to start portfolio drawdown in October
  • Oil up 2% despite U.S. crude build; set for best Q3 since 2004
  • Hillary Clinton blame game hurting Democrats: Rachel Campos-Duffy
  • S. expects Madoff $4 billion fund payout to start this year
  • Marijuana is still illegal, US AG Sessions says
  • Energy contract lawsuits expected to jump in Harvey’s wake
  • Gwyneth Paltrow expands Goop brand, eyes TV
  • Watch for these 8 new cars, SUVs coming to the US in 2018
  • Gun makers to get sales boost with export reform on the way
  • Ford becomes latest automaker to cut production
  • GE to shut down corporate jet fleet in cost-cutting move
  • Clinton book has sold more than 300,000 copies
  • Hillary Clinton’s “What Happened” had a big debut.
  • Toys ‘R’ Us bankruptcy: How $5B debt caught up to toy retailer
  • White House vows quick action as Harvey aid estimates soar

 

ICYMI – for those not familiar with the “Full Measure,” ‘left-right’ media chart, please click here

Today’s markets and stocks, at the closing bell…

S&P 500 2,508.24 +1.59 (+0.06%)

Dow 30 22,412.59 +41.79 (+0.19%)

Nasdaq 6,456.04 -5.28 (-0.08%)

Crude Oil 50.29 +0.81 (+1.64%)

Gold 1,302.90 -7.70 (-0.59%)

Silver 17.18 -0.09 (-0.54%)

EUR/USD 1.1895 -0.0099 (-0.83%)

10-Yr Bond 2.277 +0.034 (+1.52%)

Russell 2000 1,445.42 +5.02 (+0.35%)

9MarketIndicatorsYahooFinance9.20.2017DailyBusinessNewsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

Manufactured Housing Composite Value

 

 YahooFinanceManufacturedHousingCompValue9.20.2017DailyBusinessNewsStocksMarketsDataReportsMHProNews

 

Today’s Big Movers

For all the scores and highlights on tracked stocks today, see the Bloomberg graphic, posted below.

Today’s MH Market Spotlight Report – 

Egregious and Unacceptable,” Fed Chair about Manufactured Home Connected Lender, Spotlight Report

 FedChairJanetYellenMarketwatchDailyBusinessNewsMHProNews

At a press conference Wednesday, Federal Reserve Chairwoman Janet Yellen was asked about possible enforcement actions against Wells Fargo.  As MHProNews has previously reported, Wells Fargo is one of the larger lenders in the manufactured housing mortgage space.

Warren Buffett led Berkshire Hathaway has significant stake in Wells Fargo.

Yellen initially said that what Wells Fargo (WFC, +0.73%) did was “egregious and unacceptable,” per MarketWatch.

Democratic Sen. Elizabeth Warren (MA) has asked the Fed to remove the board of directors at Wells Fargo.

“We take our supervision responsibilities of the company very seriously, and we are attempting to understand what the root causes of those problems are and to address them,” Yellen said. “I’m not able to discuss confidential supervisory information and not yet able to tell you, but we’re committed to taking the actions we regard as necessary and appropriate to make sure the right set of controls are in place in that organization.”

Pressed to say when the Fed would act, Yellen offered: “We’re working very hard on it.”

The bottom line is that Wells Fargo may still face a penalty from the Federal Reserve for opening millions of unauthorized accounts.

HMDAData2015ManufacturedHousingCompetitorInformationDailyBusinessNewsMHProNews

Because of its structure, Triad Financial Service does not appear on the HMDA data. Sources suggest to MHProNews that Triad would come in above San Antonio Credit Union, which has since undergone a rebranding to its new name of Credit Human.

 See Recent Exclusive 1 Year Snapshot of All Tracked Stocks

http://www.MHProNews.com/blogs/daily-business-news/manufactured-housing-industry-markets-wall-street-reacts-to-trumponomics-1-year-data-snapshot/

NOTE: the chart below covers a number of stocks NOT reflected in the Yahoo MHCV, shown above.

NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).

Manufactured Home Industry Connected Stock Markets Data

9.20.2017DailyBusinessNewsManufacturedHousingConnectedMarketReportsBloombergMHProNews

Berkshire Hathaway is the parent company to Clayton Homes21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers.

LCI Industries, Patrick, UFPI and LP all supply manufactured housing.

AMG, CG and TAVFX have investments in manufactured housing related businesses.

Your link to a recent round of industry praise for our coverage, is found here.

For the examples of our kudos linked above…plus well over 1,000 positive, public comments, we say – “Thank You for your vote of confidence.”

We Provide, You Decide.” © ## (News, Analysis.)

(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)

SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.

 

 


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