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Posts Tagged ‘April 1’

Clayton-Bradley Academy Opens July 19

May 22nd, 2013 Comments off

Following an article MHProNews posted April 1 regarding Clayton Homes CEO Kevin Clayton partnering with teacher Patricia Bradley to open a STEM school (science, technology, engineering, and math), knoxnews says classes are on track to start July 19, with Bradley as principal. The Clayton-Bradley Academy will begin with 140 students in K-6 and add a grade each year until it becomes K-12. Sited on the grounds of Clayton Homes in Maryville, Tenn., stressing the importance of education Clayton says quality education attracts people who want good schools for their children, and that in turn draws businesses into the community. “Ultimately that keeps property taxes lower because you’ve got companies who pay the majority of your property taxes, which lowers it for everyone else,” Clayton said. “I’ve found it to be true. If you want low property taxes, invest in schools.” While funding for the school has been completed for this year, the non-profit will field a fund raising drive to insure sustainability as the school expands. Noting the academy will integrate music, English, and the arts into its core subjects, and draw on a project-based learning approach, Bradley says, “We want to move learning from the knowing part of learning to using it in real life. We want to use that connection.” Clayton Homes is the largest producer of manufactured housing in North America.

(Photo credit: J. Miles Cary/knoxnews)

Loan Originators Gain Common Ground

April 2nd, 2013 Comments off

According to the Conference of State Bank Supervisors, nationalmortgagenews says as of April 1, 2013, 20 states have signed on to a uniform state test for loan originators, allowing them to operate in those states without being re-tested. Another six states will be on board by October. As MHProNews has learned, the 2008 SAFE Act (Secure and Fair Enforcement for Mortgage Licensing Act) created state licensing requirements and testing for nonbank loan originators.

(Image credit: andyenstallblog)

Markets Closed Today

March 29th, 2013 Comments off

U.S. Markets were closed today in honor of Good Friday. They will reopen Monday April 1 at 9 A.M.

(Photo credit: Wikipedia–New York Stock Exchange)

Sun Communities, Inc. Declares Dividend

March 25th, 2013 Comments off

ZolmaxNews reports Sun Communities, Inc. (SUI) of Southfield, Mich. says it will pay a quarterly dividend of $0.63 per share on Friday, April 19 to investors of record April 1, 2013. Representing a $2.52 annualized dividend, the dividend yield is 5.29 percent. BMO Capital Markets, commenting on the stock, upgraded its rating from “market perform” to “outperform,” projecting a price target of $52.00. Sun’s stock was up 3.25 percent at the close of Friday’s trading at $47.68. The company has a market cap of $1.509 billion and a P/E ratio of 256.56. Analysts forecast Sun will gain $3.50 earnings per share this fiscal year. As MHProNews knows, Sun is a real estate investment trust (REIT) which owns and operates 183 manufactured home and RV communities comprised of 67,380 sites.

(Photo credit: Sun Communities, Inc.)

 

FHA Prepares Own QM Ticket

March 8th, 2013 Comments off

The American Banker informs MHProNews the Federal Housing Administration (FHA) is issuing its own QM rule because the Consumer Financial Protection Bureau (CFPB)’s may conflict with the FHA’s Single-Family Program. HUD spokesman Brian Sullivan states FHA has the authority under Dodd-Frank to create its own ability-to-repay rule, and will be issuing it soon. Brian Collins of American Banker says, “FHA lenders are already concerned about the CFPB QM rule because of certain changes to FHA mortgage insurance policies that will be going into effect soon. On April 1, 2013 FHA will raise its annual premium by ten basis points. On a standard FHA loan, new borrowers will pay a 135-basis-point annual premium and a 175-basis-point upfront fee.”

(Image credit: andyenstallblog)

Exec Change at T.J.T. Inc., from One Kling on to Another

August 24th, 2012 Comments off

Stockhouse reports T.J.T. Inc. of Emmett, Idaho announced the resignation of Shawn CJ Kling as President and CEO as of today, Aug. 24, 2012 to be replaced by Larry E. Kling, who has been on the board of directors since 2001. The new CEO served in that same role for Morgan Drive Away, Inc. from 1972-1983, when he founded Transit Homes of America, Inc., a transporter of manufactured homes, serving as president until it was sold to Morgan Drive Away in 1996. T.J.T. supplies axles, tires, and set-up equipment to the manufactured housing industry. Shawn CJ Kling remains as an outside director of T.J.T. As MHPronews noted in a story April 1, 2012, the company filed suit against four former management employees on the grounds of the alleged wrongful use, disclosure and acquisition of trade secrets, breach of fiduciary duties and tortuous interference with third-party relationships.

(Image credit: T.J.T. Inc.)

FEMA Still Housing Hurricane Irene Victims

March 28th, 2012 Comments off

7ThSpaceInteractive reports from eastern North Carolina 76 of the 194 families who received Federal Emergency Management Agency (FEMA) manufactured homes following Hurricane Irene in Aug. 2011 have been able to move into permanent homes. At first, the FEMA homes were not allowed to be sited in low-lying hazard areas given the potential for floods during the hurricane season. But local, state and federal officials reached a compromise that required people to be out by April 1 unless they request an extension. So far 82 families have received extensions to remain in the homes. “There was no easy housing solution in many of the areas hit hardest by Irene,” said state Emergency Management Director Doug Hoell. “The use of FEMA….. homes proved to be the most workable solution for many families, but we knew it was only a short-term answer for those in flood-prone areas.” MHProNews.com has learned North Carolina Emergency Management (NCEM) and FEMA counselors have been meeting regularly since last fall with those displaced to help them develop a plan for secure and functional housing.

(Photo credit: Wikipedia)