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Home Loan Limits Raised in Over 3,000 U.S. Counties

December 14th, 2018 Comments off

FHAHomeLoanLimitsRaisedOver3000USCounties

The Federal Housing Administration (FHA) announced late today that loans limits for 2019 will be raised for most part of the nation.

 

As manufactured housing industry veterans know, qualifying placements can allow a HUD Code home, or a modular home, to be financed with FHA insurance on the loan.

The increases are for both regular – forward mortgages, and also for HECM or so-called ‘reverse’ mortgages too.  The full HUD/FHA statement to the Daily Business News on MHProNews is as follows.

For additional details, industry professionals should contact an FHA approved lender conversant with manufactured home financing.

HUDNewsheaderManufacturedHousingIndsutryDailyBusinessNewsMHProNews

 

HUD ANNOUNCES NEW FHA LOAN LIMITS FOR 2019

Loan limits to increase in more than 3,000 counties

 

WASHINGTON – The Federal Housing Administration (FHA) today announced the agency’s new schedule of loan limits for 2019, with most areas in the country to experience an increase in loan limits in the coming year. These loan limits are effective for FHA case numbers assigned on or after January 1, 2019.

 

 

FHA is required by the National Housing Act, as amended by the Housing and Economic Recovery Act of 2008 (HERA), to set Single Family forward loan limits at 115 percent of median house prices, subject to a floor and a ceiling on the limits. FHA calculates forward mortgage limits by Metropolitan Statistical Area and county.

 

In high-cost areas of the country, FHA’s loan limit ceiling will increase to $726,525 from $679,650. FHA will also increase its floor to $314,827 from $294,515. Additionally, the National Mortgage Limit for FHA-insured Home Equity Conversion Mortgages (HECMs), or reverse mortgages, will increase to $726,525 from $679,650. FHA’s current regulations implementing the National Housing Act’s HECM limits do not allow loan limits for reverse mortgages to vary by MSA or county; instead, the single limit applies to all mortgages regardless of where the property is located.

 

Due to robust increases in median housing prices and required changes to FHA’s floor and ceiling limits, which are tied to the Federal Housing Finance Agency (FHFA)’s increase in the conventional mortgage loan limit for 2019, the maximum loan limits for FHA forward mortgages will rise in 3,053 counties. In 181 counties, FHA’s loan limits will remain unchanged. By statute, the median home price for a Metropolitan Statistical Area (MSA) is based on the county within the MSA having the highest median price. It has been HUD’s long-standing practice to utilize the highest median price point for any year since the enactment of the Housing and Economic Recovery Act (HERA).

 

The National Housing Act, as amended by HERA, requires FHA to establish its floor and ceiling loan limits based on the loan limit set by FHFA for conventional mortgages owned or guaranteed by Fannie Mae and Freddie Mac. FHA’s 2019 minimum national loan limit, or floor, of $314,827 is set at 65 percent of the national conforming loan limit of $484,350. This floor applies to those areas where 115 percent of the median home price is less than the floor limit.

HUDFHA2019LoanLimitsManufacturedHousingIndustryDailyBusinessNewsMHProNews

Any areas where the loan limit exceeds this ‘floor’ is considered a high-cost area, and HERA requires FHA to set its maximum loan limit ‘ceiling’ for high-cost areas at 150 percent ($726,525) of the national conforming limit. 

Based upon the volume of FHA endorsements in FY 2018, the following chart represents the number and share of counties where FHA loan limits are at the ceiling, floor and somewhere in between.

To find a complete list of FHA loan limits, areas at the FHA ceiling, areas between the floor and the ceiling, as well as a list of areas with loan limit increases, visit FHA’s Loan Limits Page

 

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That’s this evening’s “News Through the Lens of Manufactured Homes, and Factory-Built Housing,” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

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SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

Related Reports: Click the Boxes Below to Read More...

Joint HUD, White House Announcements Aim to Advance the American Dream

Rep Jeb Hensarling Applauds Appointment of Dr. Mark Calabria to Head FHFA

 

 

 

With Storm Clouds Over Cavco, Eyes on Legacy Housing (LEGH) IPO Today

December 14th, 2018 Comments off

 

StormCloudsOverCavcoEyesonLegacyHousingLEGHIpoTodayNasdaqMHProNews

The timing of the Legacy Housing IPO is an interesting.

 

The firm is attracting attention on its own merits from investors and analysts, who – for example – note that the two principles will have some 57 percent of the stock. The solid growth track-record for Legacy (LEGH), having their own financing available, a combination of both vertical retail and independent distribution are among the talking points.  More detailed reports are found by clicking on the box linked below.

 

What Others Say – Legacy Housing Corp (LEGH) IPO Set for 12.14.2018

 

But beyond the firm’s own credentials for the launch today on the tech-heavy NASDAQ, are other factors that can sway investors.  The affordable housing crisis plus the obvious merits of manufactured homes (MH) are talking points that manufactured home community REITs and MH producers alike point to in their investor relations packets.

 

ManufacturedHomeCommunityREITsManufacturedHousingIndustryDailyBusinessNEwsmHProNews

 

There is no doubt that the manufactured housing market has proven to be a durable one.

 

Sun Communities Strategic Investment in Ingenia Communities, Info, Videos Beyond the Release, Plus Manufactured Home Industry Market Updates

 

For those investors who are already sold on manufactured housing, the purportedly self-inflected storm-clouds over Cavco Industries (CVCO) – for example – is a possible attraction for those who may want to hedge their portfolios by investing in LEGH.

 

Legal “Incoming” – Tip on Cavco Industries CVCO, plus Manufactured Housing Industry Connected Stock Updates

 

But there are also what could be arguably be deemed artificial headwinds that Berkshire  Hathaway brands operating in manufactured housing, and also through the Clayton Homes et al dominated Monopolistic Housing Institute (MHI), err, pardon the typo, the Manufactured Housing Institute (MHI) to consider.

 

It’s Your Profession – Investment of Time, Talent, Treasure – So What’s Next?

 

There is apparently more antitrust talk coming out of Washington, D.C. that at any time in recent years. The FAANG stocks and Warren Buffett led Berkshire itself are on the radar of federal regulators. Berkshire’s “Moat” strategies are becoming better understood by mainstream media, and has been spotlighted here on MHProNews in a depth not found elsewhere.

 

Draft EO for Trump Administration AntiTrust Order Obtained by MHProNews

 

Legacy and privately held Sunshine Homes have demonstrated above average growth by taking their future into their own hands by engaging in marketing apart from MHI. That’s something savvy investors should like.

2018-12-14_1449LegacyHousing1MHProNews

 

2018-12-11_1155TalkMarketsDailyBusinessNewsMHProNewsTopProducersHUDCodeManufacturedHomes

As noted above, this illustration was NOT sent by those providing the respective tips and comments, but is provided by MHProNews to underscore points those sources have made.

 

With several federal and other investigations reportedly underway against Clayton Homes, 21st Mortgage Corp (21st), and Vanderbilt Mortgage and Finance (VMF), is this the time for manufactured housing to break free of the iron grip of Berkshire? Will a combination of feds and other potentially looming legal actions against Berkshire brands and/or MHI be a boon to manufactured housing independents, like Legacy?

 

Whistleblower! Ex-Clayton Homes Team Member on TV Denounces Manufactured Housing Giant’s Practices

 

Time will, of course, tell. Clearly, the principals of Legacy apparently believe so.

They are not alone, as others have taken the regulatory rollbacks of the Trump Administration and his antitrust signals seriously.  A few other new manufacturers have also launched.

Legacy Housing IPO, Lending Tree, & New HUD Ruling Updates

And with Legacy’s recent marketing and educational efforts yielding their biggest backlogs ever, per their own filings, this will be an interesting day for traders and the industry. Many will be keeping an eye on Legacy (LEGH) during and at the close of the day, and naturally some will be jumping on their bandwagon.

ManufacturedHousingStocksLegacyHousingCorpLEGHDailyBusinessNewsMHProNews

Legacy Housing Files for IPO, Plus Manufactured Housing Industry Market Updates

ManufacturedHousingVsTotalCompletedHomesLegacyHousingS1FilingIPODailyBusinessNewsMHProNews

Legacy clearly believes in the future of the business, because they are raising capital to expand their retail base.

As a disclosure, MHProNews has no position in any of the tracked stocks in manufactured housing, and has no plans to initiate a position in the next few days. Our reports are independent, which is perhaps among the reasons why we are the runaway most read trade media in all of manufactured housing. “We Provide, You Decide.”

 

LegacyHousingAnnouncesPrincingIPODailyBusinessNewsMHProNews

DALLAS, Dec. 14, 2018 (GLOBE NEWSWIRE) — Legacy Housing Corporation (Nasdaq: LEGH), the fourth largest producer of manufactured homes in the United States and a recognized leader and innovator in the manufactured housing industry, announced today the pricing of its initial public offering of 4,000,000 shares of common stock at a public offering price of $12.00 per share.  The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Legacy Housing, are expected to be $48.0 million.  All of the common stock in the offering is being offered by Legacy Housing. Legacy Housing has granted the underwriters a 30-day option to purchase up to an additional 600,000 shares of Legacy Housing common stock at the initial public offering price, less underwriting discounts and commissions.

Legacy Housing intends to use the net proceeds of the offering to expand its retail presence in the southern United States and surrounding geographic markets, provide financing solutions to select housing community-owner customers, repay debt and pursue possible acquisitions, and use the remainder for working capital and general corporate purposes.

Legacy Housing’s common stock is expected to begin trading on The Nasdaq Global Select Market on December 14, 2018, under the ticker symbol “LEGH.”  The offering is expected to close on December 19, 2018, subject to satisfaction of customary closing conditions.

The offering is being made through an underwriting group led by B. Riley FBR, Inc., Oak Ridge Financial and National Securities Corporation, which are acting as joint book-running managers for the offering.

A registration statement relating to the shares being sold in this offering was declared effective by the Securities and Exchange Commission on December 12, 2018.  This offering is being made only by means of a prospectus.  Copies of the final prospectus related to this offering may be obtained, when available, from: B. Riley FBR, Inc., Attention: Prospectus Department, 1300 14th Street North, Suite 1400, Arlington, VA 22209, or by telephone at (800) 846-5050 or by email at prospectuses@brileyfbr.com; Oak Ridge Financial, Attention: Joseph Sullivan, 701 Xenia Avenue South, Suite 100, Golden Valley, MN 55416, or by telephone at (800) 231-8364 or by email at jsullivan@oakridgefinancial.com; or National Securities Corporation, Attention: Marguerite O’Brien, 200 Vesey Street, 25th Floor, New York, NY 10281, or by telephone at (212) 417-8164 or by email at prospectusrequest@nationalsecurities.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Legacy Housing Corporation

Legacy Housing Corporation builds, sells and finances manufactured homes and “tiny houses” that are distributed through a network of independent retailers and company-owned stores and are sold directly to manufactured housing communities. We are the fourth largest producer of manufactured homes in the United States as ranked by number of homes manufactured based on information available from the Manufactured Housing Institute and IBTS for the second quarter of 2018. With current operations focused primarily in the southern United States, we offer our customers an array of quality homes ranging in size from approximately 390 to 2,667 square feet consisting of 1 to 5 bedrooms, with 1 to 3 1/2 bathrooms. Our homes range in price, at retail, from approximately $22,000 to $95,000.

Forward Looking Statements

This press release contains forward-looking statements, including with respect to the expected closing of Legacy Housing’s initial public offering.  These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including that the conditions to the closing of the initial public offering are not satisfied.  Legacy Housing undertakes no obligation to update any such forward-looking statements after the date hereof, except as required by law.

Source: Legacy Housing Corporation

Investor Inquiries:

Neal Suit, (817) 799-4906
investors@legacyhousingcorp.com

LegacyHousingSampleInventoryManufacturedHousingIndustryDailyBusinessNewsMHProNews

From Legacy Housing (LEGH) S1. See full S1 as a download, linked here.

 

That’s this morning’s “News Through the Lens of Manufactured Homes, and Factory-Built Housing,” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

NOTICE: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two browsers.

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2) To provide a News Tips and/or Commentary, click the link to the left. Please note if your comments are on-or-off the record, thank you.

3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

Related Reports: Click the Boxes Below to Read More...

2019 Manufactured Housing Plant Shows

 

Louisville and Tunica Manufactured Housing Shows, Controversial Profitable, Problematic Issues Loom

Post “Debacle” – Insider Trade @ Cavco Industries – Has CVCO Hit Bottom? Plus, Manufactured Housing Equities Market Updates

December 12th, 2018 Comments off

CNNmoney12.12.2018ManufacturedHomeStocksMarketsReportsMHProNewsIt has been about a month since the news rocked Cavco Industries that Joe Stegmayer had stepped down as Chairman and CEO in the wake of a subpoena issued by the SEC. We’ll look at the latest as our featured report, below.

 

If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline report is found further belowafter the newsmaker bullets and major indexes closing tickers.

 

The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets.  Headlines – at home and abroad – often move the markets.  So, this is an example of “News through the lens of manufactured homes, and factory-built housing.” ©

Part of this unique evening feature provides headlines – from both sides of the left-right media divide – which saves busy 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.

This is an exclusive evening or nightly example of MH “Industry News, Tips and Views, Pros Can Use.” © It is fascinating to see just how similar, and different, these two lists of headlines can be.

Want to know more about the left-right media divide from third party research?  ICYMI – for those not familiar with the “Full Measure,” ‘left-center-right’ media chart, please click here.

CNNFoxNewsLeftRightMediaBiasDailyBusinessNewsMHproNEwsSharylAttkisson

MHProNews looks at issues from a wide variety of perspectives.

 

Select bullets from CNN Money…

  • Nearly half of US finance chiefs fear a 2019 recession
  • ‘I begged them for help’: Wells Fargo foreclosure nightmare
  • Procter & Gamble builds a strategy to win African-American consumers
  • Huawei’s CFO is out on bail, but the crisis sparked by her arrest is snowballing
  • ANALYSIS How China could retaliate against US and Canadian companies over Huawei
  • Chinese companies threaten to punish employees caught using Apple products
  • National Enquirer publisher AMI strikes deal with prosecutors in Michael Cohen probe
  • New York Times: Chinese hackers behind massive Marriott breach
  • Virgin Galactic’s Thursday test flight shoots for record heights
  • Rolls Royce is stockpiling parts as Brexit chaos threatens ‘national crisis’
  • Nissan shares evidence against Carlos Ghosn with Renault
  • Tencent Music IPO ends up at bottom of price range
  • ‘Morning Joe’ co-host Mika Brzezinski apologizes for crude remark about Mike Pompeo
  • Amazon Go is going small with tiny, cashier-free stores
  • Dow jumps on new US-China trade hopes
  • When you buy a designer bag off Instagram, an influencer gets paid. Here’s how
  • How toxic ideas about masculinity corrode the workplace
  • Huawei CFO facing extradition to US is released
  • Million-dollar homes and a battle against cancer: What court papers reveal about Meng Wanzhou
  • How the Huawei arrest happened
  • Who Is Meng Wanzhou?
  • Lyft co-founder and president John Zimmer.
  • Lyft’s John Zimmer put it all on the line to catch Uber
  • Forget Bezos. Marc Benioff is having a moment
  • How Uber CEO Dara Khosrowshahi got comfortable with reinvention
  • As problems pile up, Mark Zuckerberg stands his ground in exclusive CNN Business interview

Select Bullets from Fox Business

  • Britain’s May survives no-confidence vote by lawmakers
  • In concession to Trump, China reportedly preparing to open up market
  • Marriott data breach traced to Chinese hackers
  • Dow closes up triple digits as US-China trade tensions ease
  • Ex-MLB star Curt Schilling rips Alexandria Ocasio-Cortez in Twitter spat
  • U-Haul, Dick’s Sport Goods could swoop in on Sears bankruptcy
  • Under Armour plunges as revenue guidance misses expectations
  • Amazon workers look to unionize in face of big HQ2 investment: Report
  • California lawmakers want to tax text messaging next
  • Dave & Buster’s CEO: Skipped chicken wings special for NFL games hurt sales
  • Want a luxury car? These 6 are the best to buy used
  • Do you have enough saved for retirement? Here’s how to tell
  • Married taxpayers may face penalty in these states
  • PG&E discloses new info that could pin them to CA wildfire
  • CEO departures highest since 2008. Here’s a list of the big ones
  • America’s water infrastructure at risk?
  • Paper straw demand up 5,000 percent since plastic ban
  • Female-led films are surpassing male ones at the box office
  • Trump Fed comments ‘bad’ to do publicly: Former Philadelphia Fed president

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

9MarketIndicatorsYahooFinance12.12.2018DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

 

Manufactured Housing Composite Value (MHCV)

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Today’s Big Movers

For all the scores and highlights on tracked manufactured home connected stocks today, see thBloomberg graphic, posted below.

Today’s MH Market Spotlight Report –

PostDebacleInsiderTradeCavcoIndustriesHasCavcoHitBottomPlusManufacturedHousingEquitiesMarketUpdates

Charlie Lott photo, by MHProNews, collage by MHProNews, Fleetwood model home and Cavco logo are shown under fair use guidelines.

 

The 30-day trend suggests that Cavco Industries (CVCO) may have finally found its bottom.

For newcomers, it is worth noting that Third Avenue bailed on Cavco prior to the announcement, see that linked report, by clicking on the box below.

Hedge Fund’s Cavco Move, and More from Inside MHVille

The initial rush of law firms that specialize in shareholder related legal issues has apparently subsided.

Cavco Shareholder Suits Prepping, CVCO, SEC, Insider Responses to Growing Scandal

Sources inside Cavco are understandably mum since the original rash of statements. What happens with the SEC is of course a top issue.

The insider trade by Charlie Lott from the Fleetwood side of Cavco is a possible warning sign.

CavcoIndustriesInsiderTradesDailyBuisnessNEwsMHProNews

Arguably, some of the drop after the initial bad news shock wore off investors was from broader market moves, such as the plunge of the FAANG stocks.

CavcoManufacturedHousingIndustryDailyBusinessNewsMHproNews

The Daily Business News will continue to monitor and report as relevant items appear.  If the SEC matter is satisfactorily resolved in a manner that avoids serious legal costs and headaches, then the case could be made that Cavco should begin to recover. Time, of course, will tell.

2018-12-12_1808BloombergCavcoIndustriesCAVCOmanufacturedhousingIndustryDailyBusinessNEwsMHproNews

Follow the facts, evidence, money and then make your decisions.

See related reports by clicking the relevant linked box.

Manufactured Housing Institute on Cavco Industries, ex-Chairman Joe Stegmayer SEC “Debacle”

Bloomberg Closing Ticker for MHProNews…

NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services.

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).

12.12.2018DailyBusinessNewsManufacturedHousingConnectedMarketReportsBloombergMHProNews

 

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 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.”

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsWe Provide, You Decide.” © ## (News, analysis and commentary.)

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

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

“What Are We, Chopped Liver?” MHI Member December 2018 Reactions

December 11th, 2018 Comments off

 ClaytonHomes21stVanderbiltManufacuturedHousingInstituteFannieMaeLogoChoppedLiver

 

It should be a given that the upper management of Clayton Homes, and their Arlington, VA based Manufactured Housing Institute (MHI) are in favor of their stated agendas.

 

 

ManufacturedHousingInstituteMHINewClassofHomesDailyBusinessNewsMHProNews

Still from MHI Video, logos added by MHProNews.

 

No sooner than MHI released their self-promotion video, than the industry’s new home shipments data – those nettlesome facts below – indicated that for all of MHI’s claims of millions of readers, their own emailed statement yesterday reflects the opposite results of what they’ve claimed.

Here are the claims, and the evidence, according to MHI.

 ManufacturedHousingInstitutelogoMHILogoMHIVideoStillsMillionsofViewsDailyBusinessNewsMHProNews

 

Here below is a screen capture of MHI/National Community Council (NCC) Vice President Jenny Hodge’s email on the latest data, per MHI.

 ManufacturedHousingInstituteMHILogoOctober2018HUDCodeHomeShipmentsDeclineDailyBusinessNewsMHProNews

What MHI’s own data and claims logically prove is that for all their bluster, new HUD Code manufactured shipments measured by the seasonally adjusted shipment rate (SAAR) – as of the above – are flat for 2018.  Even if the manufactured home industry finishes strong in the final quarter, what actual good has MHI’s promotions done so far?  

But there’s more sobering words from MHI members.

 

“What are We, Chopped Liver?”

An MHI member producer, in a long phone call to MHProNews, argued that the so-called MHI led “new class of homes” makes no sense, because it would have been easier to have simply built state-coded modular homes.

Another MHI producer said that “KEVIN CLAYTON” supported this “new class of homes” plan – which in that professional’s view – harms the interests of the majority of current manufactured housing plants. 

That source said, What are we [meaning the balance and majority of HUD Code manufactured housing production], chopped liver? 

 

The Genesis…

Here’s how a MHI-only member producer explained it in a message to the Daily Business News on MHProNews.

Three years ago I took a group from Fannie Mae through a plant to tour to show what we were building… they were blow away… made you feel they don’t get out much to see what we are building… Surely, good would come from this to obtain better financing on our homes for all [of the manufactured home] industry,” said the message to MHProNews’ tip line.

Fast forward to the roll out of the new class of homes financing…This a slap in the face,” said that production veteran, adding “…what are we chopped liver! Our HUD code is not good enough?

Why [a] 5:12 pitched roof? Many, many factories today will not build that when they have back logs of 3 to 6 months.” He added a laundry list of specs between standard HUD Code production, and the specs that Fannie Mae and Freddie Mac want to see in this Clayton/MHI led “new class of homes,” including, “100% drywall… Why? You cannot see that from the street… let the consumer chose that.”

A number of professionals said that this plan was not only developed by Clayton, it obviously could benefit their new conventional housing subdivisions, which that from has been purchasing in recent years.

Warren Buffett has said that they expect to buy more site building opportunities.

Fannie Mae, Clayton, and MHI – to name but three key organizational players – are attempting to move the industry in a direction that arguably contradicts Kevin Clayton’s own statement from a few years ago.  Some may recall Clayton saying that the industry should not to forget those “that brought you to the dance.”

 

WarrenBuffettKevinClaytonClaytonTinyHouseBerkshireAnnualMeetingDailyBUsinessNewsMHProNews

 

But that new class plan is arguably just what the new GSE connected lending does. It ignores the majority of the industry’s products and consumers in favor of a minority. 

Furthermore, the industry’s HUD Code producers have long been able to build entry-level or residential style products. MHLivingNews articles and videos have made that consumer choice option apparent.

As more than one HUD Code builder proves, you can have residential style homes that are less expensive than these new class of homes will be, and they are proven to attract conventional new home buyers. 

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There are markets for each of these styles of homes, and consumers ought to have the ability to chose that home based upon their budget, circumstances, and desires. Builders should be allowed to build whatever the want to as well. That said, what this new class of homes does is bend the system in an artificial way, based upon financing that the GSEs were required to provided under HERA 2008 mandated Duty to Serve to Manufactured Housing. Its an apparent manipulation of the system, and sources say that even if this plan is successful, it will harm many for the benefit of a few. But what if this plan is no more successful than Clayton’s iHouse or iHouse 2.0?  Then, not only time and expense are lost, but the reputation of the industry is harmed too.

For example, award-winning retailer Stan Dye said that half of his sales are to people that previously owned a conventional house.  Isn’t that good enough for Clayton, the GSEs, and MHI?

 

 

Logically, given that

      FHFA,

      the National Association of Realtors,

      HUD’s PD&R

      plus other research shows that the millions of current manufactured homes can and do appreciate,

      where is the logic for creating these new and unproven standards?

 

Consider the Track Record… 

Consider the track record Clayton Homes has in such “innovative” product roll-outs. Our sources at Clayton remind readers that the Clayton’s iHouse and the iHouse 2.0 – which were both rolled out with great fanfare, and got significant media attention – both flopped.

Oops.

 

ihouse Clayton Green-Bridge-Farm-i-House-Chevy-Volt-568x378

Ever wonder whatever happened to the Clayton’s iHouse? Not much, so it was quietly dropped, per sources at Clayton. Will this new class of homes be next?  More to the point, will this Clayton-MHI “new class of homes’ harm the value of the current HUD Code manufactured homes in the process?  Photo Green Bridge Farm, the Clayton iHouse is shown with a Chevy Volt, which is also being cancelled by GM. Oops.

 

Thus far, the GSEs are leaving the vast majority of producers and all other HUD Code manufactured homes essentially out. The indications are that this plan purportedly came from Clayton and is obviously being promoted MHI. Why didn’t they back chattel and other lending for millions of proven HUD code standards homes instead? 

Isn’t backing all HUD Code manufactured homes what the Duty to Serve Manufactured Housing part of the law clearly implied? Where in the Housing and Economic Recovery Act (HERA) of 2008 – which gave us the Duty to Serve (DTS) did it say that the GSEs should compel manufactured housing to create entirely different homes before they get lending?

It’s an outrage, which is why that MHI builder said it is “a slap in face.”

 

 

It Gets Worse

This plan, which MHProNews said last year could be a Trojan Horse, is sadly developing in just that fashion. Because sources say that this plan arguably undermines the acceptance – and thus the value – of millions of existing HUD Code homes.

Who says? A parter and association member in a community operation. He’s not alone.

Beyond complaints about the new class and related GSE lending, one source said that when you factor in the additional costs of building to this new class or homes standards that Clayton-MHI are leading, the consumers who buy them are not going to save money, or get lower payments, even with the GSEs lower interest rate.

Recall that in San Antonio last year, in a room with a few dozen MHI members, Tim Williams of 21st said that the Berkshire Hathaway lender’s wants to make sure that the GSEs don’t take only their top tier credit “traunch.”

Well, it seems that this plan currently avoids taking any loans away from 21st or Vanderbilt. So Tim Williams, former MHI Chairman and still 21st President and CEO, will get his wish.

Put differently, this plan if it fails or succeeds, purportedly harms the bulk of would be and existing consumers. It does so to the benefit one major conglomerate that also does site building. The plan is finding quiet resistance on several fronts from MHI’s own members. 

 InfographicMobileManufacturedHomeManufacturedHousingIndustryFactsDataResearchMobileManufacturedHomeLivingNews

 

But the voices are muted because of the Smoking Gun track record.   You can learn more about that by clicking the linked box, below, for that report.

 

Smoking Gun 3 – Warren Buffett, Kevin Clayton, Clayton Homes, 21st Mortgage Corp Tim Williams – Manufactured Home Lending, Sales Grab?

 

These are some of the explosive comments signaled last week, in the prior report that is linked from the box below.

 

Explosive Comments on Duty to Serve Manufactured Housing Lending from Well Placed Sources

 

Clever Moat Building?

This new class of homes is arguably clever as a tool to eliminate over time more of Berkshire’s competition. By causing some industry firms to invest in a product, it will tend to get those producers ‘dug in’ to continue the plan. They may be following a lead whose Clayton iHouse and iHouse 2.0 both failed. 

But in the meantime, how many thousands of consumers who wanted to refinance 21st Mortgage Corp or Vanderbilt Mortgage and Finance loans – Berkshire Hathaway brands – at a lower interest rate will be left out in the cold? Millions of their HUD Code homes don’t qualify for a program that Congress mandated?  How is that possible, or even sufficient to meet the legal mandates?

Rephrased, this is de facto a head shot against the interests of:

     millions of existing manufactured home homeowners,

     aims at any plants and companies that don’t participate in the plan,

     bending Fannie Mae and Freddie Mac to the will of Berkshire Hathaway, and it was accomplished in closed door meetings that the GSEs, and MHI won’t release the minutes to.

The standards arguably fail in the essence of the Duty to Serve, namely, to provide more lower cost financing for millions of renters.

The American Dream, Arguably Among the Most Profitable, But Least Understood Stories in the USA Today

 

Let the Consumer Choose

The Daily Business News on MHProNews last Saturday said that #HousingChoice should be part of the mantra of the industry’s independents. 

#HousingChoice

Housing Choice, Where Modular, Manufactured, Tiny, Conventional Housing Crisis, MHI and MHARR Intersect

 

Consumers need to be educated to accept what millions have already benefited from. What’s good for consumers is also a strong market for investors, lenders, sellers, communities, suppliers, and others.

Mark Weiss, JD, President and CEO of the Manufactured Housing Association for Regulatory Reform (MHARR) said months ago that the Duty to Serve was a mandate.

 MHARRMarkWeissIfCongressHadMeanttheDutytoServeToBeOptionItWouldNotHaveCalledItADutyDefintionofDutyIsMandatoryResponsibilityDailyBusinessNewsMHProNews

 

Weiss also argued that this roll out of the GSE program was set to benefit only a few companies.

 

ManufacturedHousingAssocRegulatoryReformMHARRMarkWeissDTSFHFA-GSEsGoingtoLargestBusinessesCorpAffiliatesDailyBusinessNewsMHProNews

Collage by MHProNews.

 

It’s not MHI’s VP Jenny Hodge’s fault if new manufactured home shipments are declining. MHI’s president is said to “turn red” when embarrassed or upset. So, how “red” does Richard ‘Dick’ Jennison glow today, after he’s done reading this analysis? 

How red with anger will resident groups become once they figure out that Berkshire Hathaway and MHI – which they arguably dominate – plus the GSEs have ignored them in favor of more expensive housing?

How mad will community owners be if they map out the trend lines, and realize that this plan shafts them too?

Clayton, MHI, and the GSEs won’t formally respond to such concerns. But MHProNews has had tips from ‘inside’ this program, on the GSEs side of the fence.

 

ManufacturedHousingProNewsMHProNewsConfidentialTipsDocumentsNews

To report a news tip, click the image above or send an email to iReportMHNewsTips@mhmsm.com – To help us spot your message in our volume of email, please put the words NEWS TIP in the subject line.

 

As one of those sources experienced in financing told MHProNews, the way this program was developed was “completely backwards.” Instead of listening to the industry, and finding ways to meet the needs, the GSEs dictated standards that were set only for this new class of homes. 

The evidence and the comments from an array of sources suggest that this is no accident. It was an arranged plan. It was rigged from the GSE side, and from the producers side. This plan was unveiled in Las Vegas, we are told that many walked out of the presentation in disgust or protest.

Manufactured Housing Institute “Walk Out,” “Cover Up,” and Shock at their Vegas Event

 

It’s as that MHI producer said, a slap in the face of the industry. And MHI now wants members to open up their checkbooks and renew their association membership for a plan their biggest member logically engineered, aimed at harming their own interests.

 

 

SoTheAssociationMHIIsNotThereFortheIndustryUnlesstheinterestsoftheBigBoysJointheIndustry'sMartyLavinMHIAwardWinnerQuoteMHProNews

MHProNews looks at the facts, considers the sources, and follows the evidence. MHI earlier last year, and for years before, MHI routinely replied promptly to all inquiries. But since we’ve spotlighted the problems and concerns, they’ve gone silent. Why? If the facts are on their side, why not make offer a cogent explanation?

 

It was on a different topic that Marty Lavin said it, but doesn’t it apply here?  As an MHI Producer said, “This program clearly was not “duty to serve.

Based upon the evidence and the track record, MHProNews advises the industry’s members to explore their options with MHARR, MHIdea and NMHCO. More on this in the links below and the days ahead.We Provide, You Decide.” © ## (News, analysis, and commentary.)

NOTICE: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two browsers.

(Related Reports are further below. Third-party images and content are provided under fair use guidelines.)

1) To sign up in seconds for our MH Industry leading emailed news updates, click here.

ManufacturedHomeIndustry#1HeadlineNewsMHProNews

To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

2) To provide a News Tips and/or Commentary, click the link to the left. Please note if your comments are on-or-off the record, thank you.

3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

Related Reports: Click the Boxes Below to Read More...

“It’s a Terrible Idea,” Comments from Manufactured Home Community Owners, Senior Management, and Investors

Whistleblower! Ex-Clayton Homes Team Member on TV Denounces Manufactured Housing Giant’s Practices

 

“Pants on Fire” – Latest New Manufactured Housing Shipment Report

#$2Trillion U.S. GDP Growth via Affordable Housing Plan Few Discuss – Introducing #YimbyVictory2020

 

Nathan & Mary Lee Chance Smith, Leaders in ‘Anti-Trump Resistance,’ Manufactured Housing Impact?

 

 

 

 

 

 

JP Morgan Guru Says, “Fake News” Shares Blame in Volatile Markets, plus MH Stock Updates

December 7th, 2018 Comments off

CNNmoney12.7.2018ManufacturedHomeStocksMarketsReportsMHProNewsThe Daily Business News on MHProNews has spent weeks first documenting the sound fundamentals of the economy, and then underscoring some of the same – and very cogent points that – this Ph.D. from J.P. Morgan Chase makes in our featured report this evening.

 

If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline report is found further belowafter the newsmaker bullets and major indexes closing tickers.

 

The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets.  Headlines – at home and abroad – often move the markets.  So, this is an example of “News through the lens of manufactured homes, and factory-built housing.” ©

Part of this unique evening feature provides headlines – from both sides of the left-right media divide – which saves busy 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.

This is an exclusive evening or nightly example of MH “Industry News, Tips and Views, Pros Can Use.” © It is fascinating to see just how similar, and different, these two lists of headlines can be.

Want to know more about the left-right media divide from third party research?  ICYMI – for those not familiar with the “Full Measure,” ‘left-center-right’ media chart, please click here.

 

Select bullets from CNN Money…

  • Stocks slide as Trump advisers contradict each other on trade
  • Bitcoin’s epic plunge continues
  • US case against Huawei CFO revealed in Canadian court
  • OPEC and Russia agree to slash oil production
  • US economy adds a weaker-than-expected 155,000 jobs in November
  • Chinese investors lead a $5 billion bid for the owner of Louisville Slugger
  • Mysterious Instagram glitch shows funky lines on photos
  • This CEO thinks it’s crazy to work more than 40 hours a week
  • Walmart turns to robots and apps in stores
  • Marlboro owner Altria invests $1.8 billion in cannabis company Cronos
  • PERSPECTIVES Homeowners have lost $156 billion by living in a ‘black neighborhood’
  • Fiat Chrysler to open a plant in Detroit to build a new Jeep, report says
  • Why the stock market is freaking out
  • ABC had a million reasons to boot Kevin Hart
  • Slack’s quest to take its workplace chat app international
  • Who is Meng Wanzhou, the Chinese exec wanted by the US?
  • What is Huawei, and why its CFO’s arrest really matters
  • The company’s no good, very bad year just got even worse
  • Arresting Huawei exec is a case of spectacularly bad timing
  • The rise of China’s ‘Silicon Valley’
  • GM’s restructuring was tough. Ford’s could be even harder
  • Porsche just remade its signature sports car
  • The real story behind BMW’s American ambitions
  • Jeep will make its first pickup in 26 years
  • Audi reveals the E-Tron GT, an all-electric sports car

Select Bullets from Fox Business

  • Dow tanks more than 500 points to end stomach-churning week
  • GM CEO Mary Barra was forced to shut US plants: Bob Nardelli
  • Unemployment holds at 3.7 percent as job growth slows
  • Tesla could buy GM’s shuttered plants, Elon Musk says
  • Chrysler to open factory in Detroit, weeks after GM layoffs
  • 4 future ‘Congressional battles’ keeping Larry Kudlow ‘up at night’
  • Amazon bear repellent accident this week wasn’t its first
  • Legal cannabis industry: Altria, Molson-Coors among companies exploring market
  • Sears’ biggest holder bids $4.6B for rest of bankrupt chain
  • Here’s where November jobs growth took place
  • XFL, USFL, other pro football leagues that took on the NFL
  • Ex-Chiefs star Kareem Hunt cost himself millions with hotel assault video
  • XFL unveils 8 team cities, says games will be cheaper, fast-paced
  • 9 smart money moves to make in 2019
  • Recession-proof your finances: Tips to prepare
  • How Trump’s tariffs will cost you
  • Huawei CFO extradition order was an independent act by the DOJ: Peter Navarro
  • Larry Kudlow weighs in on Huawei
  • Huawei CFO arrest a ‘despicable rogue action’ by US: Chinese media
  • Amazon eyes expansion of check-out free stores at airports
  • US holiday online shopping on pace for sales record
  • OPEC, Russia to cut oil output, despite Trump pressure

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

9MarketIndicatorsYahooFinance12.7.2018DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

 

Manufactured Housing Composite Value (MHCV)

YahooFinanceManufacturedHousingCompValue12.7.2018DailyBusinessNewsStocksMarketsDataReportsMHProNews

Today’s Big Movers

For all the scores and highlights on tracked manufactured home connected stocks today, see thBloomberg graphic, posted below.

Today’s MH Market Spotlight Report –

JPMorganChaseGuruSaysFakeNewsSharesBlameVolitaleMarketsPlusMHStockUPdatesDailyBusinessNewsMHProNews

Yes, jobs came in lower than expectation. But it was more political news that several of the bullets above suggest send stocks tumbling again.  That volatility has caused most of our tracked stocks to tumble once more.

Marko Kolanovic, Ph.D. with J.P. Morgan Chase has a perspective that will help thinkers to sort out what’s going on.

Per CNBC this evening,

  • Despite a positive fundamental backdrop, markets have been pummeled in wild trading this quarter.
  • To some extent, we trace the disconnect between negative sentiment and macroeconomic reality to the reinforcing feedback loop of real and fake negative news,” wrote J.P. Morgan Chase top quant Marko Kolanovic.
  • One recent example, according to Kolanovic, was the media treatment of the arrest of an executive from Chinese hardware manufacturer Huawei.

Positive GDP and earnings are ‘reality,’ which is currently starkly disconnected from equity sentiment, valuation, and positioning,” Kolanovic said in the note.

While higher volatility that comes with less monetary support warrants somewhat lower equity valuations, lower risk positioning, higher equity volatility and higher credit spreads, we think that the current divergence is simply too large,” Kolanovic said in the note. “To some extent, we trace the disconnect between negative sentiment and macroeconomic reality to the reinforcing feedback loop of real and fake negative news.”

China-U.S. trade tensions, and Federal Reserve policies are among the factors often cited.

MHProNews would note that at some time the issues with China, among others, had to be dealt with sooner or later.  In fact, the can has been kicked down the road for some 20 years.  The time to deal with these issues is now, and broadly speaking, the Trump Administration is arguably on the right path.

Related Reports:

Barron’s Reports George Soros Move Presaging Market Drop, Harming Manufactured Housing, FAANG Stocks

An Area of Agreement Between Warren Buffett and MHProNews

 

Bloomberg Closing Ticker for MHProNews…

NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services.

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).

12.7.2018DailyBusinessNewsManufacturedHousingConnectedMarketReportsBloombergMHProNews

 

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 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.”

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsWe Provide, You Decide.” © ## (News, analysis and commentary.)

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

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

Explosive Comments on Duty to Serve Manufactured Housing Lending from Well Placed Sources

December 6th, 2018 Comments off

 

BoomExplosiveCommentsDutyToServeManufacturedHousingLendingFromWellPlacedSourcesDailyBusinessNewsMHProNews

From sources:

  • inside the GSEs,
  • from within the ranks of producers of HUD Code manufactured housing,
  • plus association sources – meaning those aligned with the Manufactured Housing Institute (MHI) –

the Daily Business News on MHProNews has received calls, messages, and in-person news tips about the Duty to Serve (DTS) and the so-called Clayton/MHI backed “new class of homes.”

 

They can best be described in one word. Explosive.

 

MHProNews values those tips and sources, while sharing necessary words of caution.

There will be an upcoming report, but the sheer scope of some of these insights suggests that additional research ought to be done so that a well-crafted story or series of reports emerges. Congressional, federal, and other sources have been and will be contacted.

 

 

About Insider News Tips 

That said, we want to stress for the sake of all those who are working – especially for large companies – but also for associations, or any organization where your comments may put your job at risk – to please consider the following cautionary steps.

 

1)    Avoid using your company or organization’s email to send a news tip. While we will accept it, it is prudent for you or your colleagues to use your own email for sharing news tips. That’s for your own sake as a news tip source. We’ll need a private cell phone number to confirm the tip’s validity, when it comes from a private email address.

2)    Avoid using your company’s or organization’s phone – or a cell phone provided to you by a company or organization – to share a news tip. Better to use your own private cell phone. That’s for your own sake as a news tip source.  We gladly take calls from companies and organizations, but for sharing news tips you are arguably better off using another number.

3)    Federal or other governmental officials who are speaking off the record should follow the same protocols as those noted above.

 

You can report a news tip, share comments, and insights at this email address:

 

iReportMHNewsTips@mhmsm.com

 

Or you can call our us at this number, 863-213-4090.  

Whistleblowers can make a difference, as the mainstream TV news story video found by clicking on the linked box below revealed. That whistleblower can remind and inspire us all as to how important and valuable inside information can be.

 

Whistleblower! Ex-Clayton Homes Team Member on TV Denounces Manufactured Housing Giant’s Practices

 

That said, ex-team members at MHI, Clayton, 21st Mortgage, Vanderbilt Mortgage and Finances (VMF) and other association or business fonts can be among the more powerful sources of information.  

Keep in mind that people can even be put on camera in a way that you and your voice are masked. The point is there are a variety of ways to prudentially speak the truth while minimizing your risks.

 

WhistleblowerProtectionLawsManufacturedHousingIndustryDailyBusinessNewsMHproNews

We are not your conscience or your legal advisor. That said, even basic research reveals that many states and the federal government have laws that protect whistleblowers. Logically, it can be to a whistleblowers advantage to contact industry-friendly and knowledgeable trade media first, and in manufactured housing, that would be MHProNews.com.

 

The Duty to Serve (DTS) manufactured housing mandated by law in 2008, and this so-called ‘new class of homes’ that MHI – and what Marty Lavin has called their “big boy” backers of MHI – are arguably a farce or a ploy that could prove costly to our industry, regardless of the number of homes it may or may not sell. And the evidence per sources to date is that the new class of homes and related DTS programs are off to a slow, slow start. 

Billions of dollars are at stake.  That’s why some have spent thousands upon thousands of dollars to create video distractions for the industry, because potentially hundreds of billions of dollars are involved.

 

 

It is the view of several well placed sources inside MH that this so-called “new class of homes” undermines the HUD Code. It is also entirely unnecessary, as our #HousingChoice report revealed. 

More details will be planned, as noted herein.  

ConfidentialNewsTipsOKTipsIreportMHNews@MHMSM-comGraphic

To report a news tip, click the image above or send an email to iReportMHNewsTips@mhmsm.com – To help us spot your message in our volume of email, please put the words NEWS TIP in the subject line.

 

Until then, you should refresh yourself on, and/or read/re-read #HousingChoice, linked further below in one of the related report boxes.  That report has sparked numerous additional insights, tips, and comments on Duty to Serve and the faux ‘new class of homes.’

The HUD Code manufactured housing industry could have its best days ahead, but it purportedly will not happen unless structural changes are made that minimize the harm being done to manufactured housing from within.

 

MHARRMarkWeissIfCongressHadMeanttheDutytoServeToBeOptionItWouldNotHaveCalledItADutyDefintionofDutyIsMandatoryResponsibilityDailyBusinessNewsMHProNews

 

As a closing point, a manufactured home community investor’s recent call stressed that DTS – as it has been rolled out – is arguably harming manufactured community owners (MHC) and existing manufactured home owners too. That callers point applies to independent retailers, and therefor to almost other segments of the industry. DTS as it is being done in this ‘new class of homes’ fashion is arguably a ploy, a scam, and a way to destroy more independent manufactured housing businesses and/or to keep the value of communities and other industry operations artificially low. “We Provide, You Decide.” ## (News, analysis, and commentary.)

NOTICE: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two browsers.

(Related Reports are further below. Third-party images and content are provided under fair use guidelines.)

1) To sign up in seconds for our MH Industry leading emailed news updates, click here.

ManufacturedHomeIndustry#1HeadlineNewsMHProNews

To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

2) To provide a News Tips and/or Commentary, click the link to the left. Please note if your comments are on-or-off the record, thank you.

3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

 

Related Reports: Click the Boxes Below to Read More…

Housing Choice, Where Modular, Manufactured, Tiny, Conventional Housing Crisis, MHI and MHARR Intersect

 

 

#$2Trillion U.S. GDP Growth via Affordable Housing Plan Few Discuss – Introducing #YimbyVictory2020

MHARR Exposes GSES’ Failure On Chattel Financing Before Congress

 

 

Clayton’s Miss, Kevin and Tim’s Manufactured Housing Kill Shot, More

Crisis of Misinformation, Fact Checks, and Manufactured Housing

 

 

 

 

 

FAANG Stocks Drop $140 Billion, Plus Manufactured Housing Industry Markets

December 4th, 2018 Comments off

CNNmoney12.4.2018ManufacturedHomeStocksMarketsReportsMHProNewsJeff Bezos’ Amazon Alexa Fund has invested in factory-home building.  Other FAANG stocks have a direct impact on manufactured housing, for marketing and other reasons. Investors ran for cover today for reasons noted in our left-right bullet headlines, below.  The drop in FAANG will be our featured report this evening.

 

If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline report is found further belowafter the newsmaker bullets and major indexes closing tickers.

 

The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets.  Headlines – at home and abroad – often move the markets.  So, this is an example of “News through the lens of manufactured homes, and factory-built housing.” ©

Part of this unique evening feature provides headlines – from both sides of the left-right media divide – which saves busy 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.

This is an exclusive evening or nightly example of MH “Industry News, Tips and Views, Pros Can Use.” © It is fascinating to see just how similar, and different, these two lists of headlines can be.

Want to know more about the left-right media divide from third party research?  ICYMI – for those not familiar with the “Full Measure,” ‘left-center-right’ media chart, please click here.

 

CNNFoxNewsLeftRightMediaBiasDailyBusinessNewsMHproNEwsSharylAttkisson

MHProNews looks at issues from a wide variety of perspectives.

 

Select bullets from CNN Money…

  • BREAKING Dow drops 799 points on trade, slowdown fears
  • WATCH: Why investors are selling tech stocks
  • ANALYSIS: 2018 may be as good as it gets for the stock market
  • GM’s restructuring was tough. Ford’s could be even harder
  • Europe won’t give up on new tech taxes
  • White House backs off privatizing the Postal Service
  • PERSPECTIVES Quotas are a terrible way to promote board diversity. Companies should do this instead
  • Forget Bezos. Marc Benioff is having a moment
  • Marc Benioff: Technology feels completely human
  • Video game stocks get crushed as Fortnite still reigns
  • How a ‘brick wall moment’ helped this Microsoft exec make her mark
  • The challenges of being the only woman at work
  • Porsche just remade the 911
  • Top CFOs are being targeted by a sophisticated email scam
  • Fate of The Weekly Standard is uncertain, editor tells staff
  • 20181203 perspectives gw bush
  • PERSPECTIVES What I learned on a 3-hour plane ride with George H.W. Bush
  • UPS and FedEx stocks drop on Amazon Air threat
  • Amazon HQ2 sites have been decided. Now the real work begins
  • How 5G could soon be a game-changer
  • Most downloaded iOS apps of 2018
  • Tumblr cracks down on adult content
  • Quora says 100 million users hit by breach
  • The US economy is strong. Three signs it won’t last
  • America’s economy is still robust, says Fed chair
  • Bitcoin prices keeps plunging. When will they hit bottom?
  • Fed hints rate hikes will slow down
  • When stock market swings should raise alarms

Select Bullets from Fox Business

  • Dow sinks 799 points on bond and trade fears
  • Bond market forecasting a recession?
  • Markets not an economic bellwether: Mnuchin
  • Banks take beating amid stock and bond carnage
  • Millennials blamed for killing these businesses
  • Salmonella concerns cause USDA to recall 12 million pounds of beef
  • I hope GM can retool plants quickly says Steven Mnuchin
  • All wireless data can be compromised in one fell swoop: Expert
  • This new, healthy artificial sweetener promises to taste like sugar but without calories
  • Retirement reform: What lawmakers are missing
  • Ohio State coach Urban Meyer retires as state’s highest-paid public official
  • NHL approves Seattle expansion team for record $650M fee
  • WWE CEO Vince McMahon nets $22M from stock sales amid XFL reboot
  • George H.W. Bush National Day of Mourning closes banks and Wall Street
  • French riots: How a fuel tax increase sparked violent protests
  • Trump’s China auto deal could help these countries
  • Middle-class workers are victims of Silicon Valley’s tech boom
  • Proposed Postal Service reforms could hike package delivery costs
  • China trade commitments will begin ‘immediately’: Larry Kudlow
  • BMW, Daimler execs to meet Trump team amid auto tariff warnings
  • Trump to end this subsidy to automakers amid GM threats
  • Disney adjusts CEO Bob Iger’s stock bonus package
  • HSBC downgrades Apple shares as it warns of ‘market saturation’
  • Ex-Chiefs star Kareem Hunt cost himself millions with hotel assault video
  • Altria and Canadian pot co. Cronos in talks
  • Michael Bloomberg for president in 2020? Iowa climate panel fuels rumors
  • Kroger eyes grocery expansion in Walgreens stores
  • Bill Gates’ favorite books in 2018

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

9MarketIndicatorsYahooFinance12.4.2018DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

 

Manufactured Housing Composite Value (MHCV)

YahooFinanceManufacturedHousingCompValue12.4.2018DailyBusinessNewsStocksMarketsDataReportsMHProNews

Today’s Big Movers

For all the scores and highlights on tracked manufactured home connected stocks today, see thBloomberg graphic, posted below.

Today’s MH Market Spotlight Report –

 

JeffBezosFAANGStocksDrop140BillionPlusManufacturedHousingMarketUpdates

Per CNBC, here’s the drop in values of the various FAANG stocks.

  • Facebook fell 2.2 percent, losing $7.6 billion in implied market value
  • Amazon fell 5.9 percent, losing $50.8 billion in implied market value
  • Apple fell 4.4 percent, losing $38.5 billion in implied market value
  • Netflix fell 5.2 percent, losing $6.5 billion in implied market value
  • Alphabet fell 4.8 percent, losing $37.5 billion in implied market value

Google and Facebook have come under particular scrutiny lately.

 

 

In Google’s case, see the video and related report found by clicking on the linked-box below, as this shines a light on our industry in several ways.

 

Does Google Harm Manufactured Housing? Other Forms of Free Speech?

 

MHProNews has noted that while change is often feared, the history of breaking up a trust like AT&T in the 1980s resulted in more growth.  There are good reasons that a growing number of experts and advocates on either side of the left-right divide want to see the FAANGs broken up.  Onto the list, should be Berkshire Hathaway too.

 

#DeFangBM

 

Want more growth and less volatility?  Break up the power of those that are able to manipulate and move politics and the markets so readily.

 

Google Employees Go Public, Protest Controversial “Project Dragonfly”

ScottGallowayNYSternUniversityL2AntiTrustAntiMonopolyDailyBusinessNEwsMHProNews555

 

Bloomberg Closing Ticker for MHProNews…

NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services.

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).

12.4.2018DailyBusinessNewsManufacturedHousingConnectedMarketReportsBloombergMHProNews

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 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.”

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

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

Housing Choice, Where Modular, Manufactured, Tiny, Conventional Housing Crisis, MHI and MHARR Intersect

December 1st, 2018 Comments off

 

ClaytonHomesLogoManufacturedHousingInstituteLogoAssocRegulatoryReformHousingChoiceWhereModularTinyConventionalHousingCrisisSolutionMeets

Photos from Clayton website, and the logos are the properties of their respective organizations, provided here under fair use guidelines for news media. Text graphics and collage by MHProNews.

It is one of the most controversial issues in the manufactured housing industry today.  Through their apparent power at the Manufactured Housing Institute (MHI), Clayton Homes has backed the notion of a “new class of manufactured homes.”

 

It is a thorny issue, as there are various, divided views on the matter.

 

Certainly, every company has the right and ability to act according to its own perceived interests, within the norms of the law and ethical restraints.

  • If a production company so desires, it can build widget shaped homes and call it a new class of manufactured homes.
  • A firm or organization could say that all new homes should have bull-nosed exterior corners or inverted pyramid shaped roofs in order to get special financing from Fannie Mae or Freddie Mac.
  • Or one could use less esoteric notions, and opt instead for making gutters, downspouts, higher-pitched roofs, and garages available options.

But such details have arguably been incorrectly framed from the start.  Shouldn’t buyers of whatever kind of home they want that meets basic safety, energy, and durability standards be given equal choice for housing in the marketplace, and for financing too?

Rephrased, shouldn’t there be a simple mantra ofhousing choice applied?

The Government Sponsored Enterprises (GSEs) of Fannie Mae and Freddie Mac have a federal legal mandate since 2008 that they somehow managed to dodge for a decade. Now, instead of offering the lower-cost home-only lending that about 80 percent of manufactured home customers select, instead, they provided a program that is only useful for a new, untested, and special kind of HUD Code home?

  • That special kind of home is what Clayton said they wanted, why?
  • And why is that GSE lending pushing a program that is only for land-home loans, which leaves most land-lease communities and the bulk of the retail sales of manufactured homes out in the cold?
  • How do those forced-fits foster housing choice?

 

Housing Choice Should Become Part of the MH Industry’s Mantra

  • Shouldn’t those who want to buy an already federally regulated HUD Code manufactured home be allowed to choose that or any other kind of safe and durable housing they want and are able to purchase?
  • Shouldn’t all housing shoppers who can demonstrate the decades of proven durability of their housing choice be allowed to have the same kind of financing options that conventional housing buyers have been able to access for decades?
  • Shouldn’t home buyers have the right to buy an entry-level or residential-style HUD Code manufactured homes with parity of financing?
  • Isn’t parity of financing an important part of how potentially millions of more price- and payment-sensitive renters can afford to buy a home of their own?
  • So if the clear logic of all of the above are obvious, why did MHI, Fannie Mae, and Freddie Mac hold closed door meetings – refusing to release the minutes of said closed door meeting discussions – which resulted not in more chattel lending, but rather in loans geared only to this so-called, ‘new class of manufactured homes’ that are backed by Clayton?

 

Affirmatively Furthering Fair Housing, a Novel Yet Proven Solution to the Affordable Housing Crisis That Will Create Opportunities, Based Upon Existing Laws

 

Isn’t this new class of homes – and their accompanying Fannie and Freddie lending – just another back-door or oblique way of blocking access to more low-cost lending? Isn’t that effort obviously being led by the Berkshire brands in manufactured housing?  Doesn’t it remind you of the blast-from-the-past, courtesy of 21st Mortgage Corp, that is shown in their letter below?

 

21stMortgageCorpTimWillamsJune112009LetterBerkshireHathawayWarrenBuffettClaytonHomesManufacturedHousingIndustryDailyBusinessNewsMHProNews

Click the image above to download a larger sized version of this 21st Mortgage Corp Letter.

 

Isn’t this new class of homes merely a revised and open version of Smoking Gun 3, where 21st Mortgage cut off lending to thousands of operations that didn’t carry Clayton product?  See the linked report that follows immediately below, plus more related reports further below for added details.

 

Smoking Gun 3 – Warren Buffett, Kevin Clayton, Clayton Homes, 21st Mortgage Corp Tim Williams – Manufactured Home Lending, Sales Grab?

 

We Already Have Had State Coded Modular Homes for Decades, So, Why this ‘New Class’ of HUD Code Homes?

Several voices from various parts of the industry have noted that modular housing already – on paper – had access to the same land/home mortgage lending that conventional housing enjoys.

Indeed, FHA, VA, and USDA already give parity of lending to HUD Code manufactured homes, as well as modular housing, so long as a proper installation and other lending guidelines are met.

Many manufactured home producers already built both “HUDs” and state-coded modular homes.

But HUD Code manufactured homes have widely outsold modular home building for decades. MHI’s own periodic data reflects that point.

When the goal for thousands of land-lease manufactured home communities, hundreds of manufactured home retailing independents, and MHARR has long been to get the GSEs to fully support manufactured homes with personal property loans, where was the logic of MHI pushing ‘behind closed doors’ the use of GSE lending only [???] for this new class of homes?

Hold that thought.

Hold that notion closely, because what the stated goal of MHARR and MHI began with on Duty to Serve seemed on the surface to be the same thing.  That was the apparent intersection, on paper, that virtually everyone in MHVille said they wanted more lending from the GSEs.

But what MHI ended up doing was redirecting their energy to get GSE lending only for their so-called ‘new class of homes.’  Even the new MHI self-defense, self-promotion video makes that reality a key point, as the screen capture from their new video below reflects.

 

LeveragingMomentumCreationNewClassofManufacturedHomesManufacturedHousingInstituteMHILogoDailyBusinessNewsMHProNews600

Screen capture with commentary and MHI’s logo are a collage by MHProNews, which faithfully reflects their “We’re Using Our Momentum Leveraging the Creation of a New Class of Manufactured Homes.” First, what momentum? Second, why the need for a new class of homes? Manufactured housing builders have made residential style homes since at least the 1980s. Buyers could always option in or do on-site whatever they wanted and can afford. It’s therefor a head fake, an apparent ruse that seemingly limits GSE lending to only a tiny sliver of the market that could already be served by modular coded factory-built homes, or by existing residential style HUD Code manufactured homes. This new class of homes is a costly waste of time, save for the fact that it diverts lower-cost financing. Who benefits from that fact?  A monopolist, perhaps?

BloombergShipmentNewManufacturedHomesFactoryBuildRebuildDailyBusinessNewsMHProNews

Third-party to the industry Bloomberg’s shipment data of HUD Code homes reflects that there is a modest recovery, but that the manufactured home industry is still about 75 percent below its 1998 high water mark hit during the last 30 years.

If you want to sell more manufactured homes, this new class of homes is utterly illogical on the surface.  Manufactured housing roared during the 1990s compared to today.  Some claim it was only a sugar-high, based only on bogus lending.  But that claim ignores the reality that those home buyers wanted a manufactured home in the first place. In the mid-to-late 1990s and early 2000s, numerous researchers believed that the EXISTING class of HUD Code manufactured homes was the solution to the affordable housing crisis.

EricBelksyManufacturedHousingIndustryManufacuredHomeManufacturedHousingInstituteResearchDataAffordbleHousingMHProNewsDailyBuisnessNews575

Why did Belsky miss his predicted date? Because it came before Buffett’s entry into MH? See Smoking Gun 3.

So why this need for a new class of homes?  Why not rediscover the proven affordable HUD Code homes, already improved by the Manufactured Housing Improvement Act of 2000?

Two Great Laws Already on the Books NOW,  Can Unlock Billion$ Annually for Manufactured Housing Industry Businesse$, Investor$

 

If you want to encourage the acceptance of HUD Code manufactured homes, then this Clayton/MHI backed ‘new class of homes’ is demonstrably counterproductive on the surface.

Keep in mind that a researcher for the Fannie Mae Foundation some two decades ago already noted back then that manufactured homes merited better lending, placement, zoning, and other treatment. Such facts alone should make it hard for a GSE today to backtrack on their own foundation’s research.  For that report, see the link below.

 

“Why Advocates Need to Rethink Manufactured Home Quality,” Harvard, GSE, Genz, “High Satisfaction”

 

So, this new class of homes makes no sense, unless – unless – there is a hidden or unstated agenda?

  • Is this new class of homes just another monopolistic ploy to expand Berkshire’s Moat in MHVille?
  • And as has been noted previously, isn’t this once more using access to capital or lending to harm the interests of the majority of producers, in favor of one that is also selling site built housing?

 

Machiavellian “Godfather” – Sam Zell, Warren Buffett, Capital, Lending and Crossed Lines in Manufactured Housing

 

The Risk to Existing Manufactured Home Owners

Furthermore, isn’t there an obvious risk that the value of millions of existing manufactured homes will be undermined by this so-called new class of homes?

That isn’t a merely rhetorical question.  Because a senior contact with one of the GSEs admitted to MHProNews that it was a potential hazard.

How would millions of manufactured home owners react to not only not getting GSE chattel lending, but instead, having Clayton-led MHI working in a fashion that undermines the resale values of their homes?  Doesn’t that open the door to a possible class-action lawsuit, against the GSEs, MHI, and Clayton?

An MHI-only member messaged the following to our publisher this week, “You seem to have [a] conceptual IQ that is more important than spelling ability.” That’s nice and clever, but the matter is simply deductive reasoning or logic.

Everything that MHI has done with respect to their so-called new class of homes has been aimed to sideline opposition to it. That isn’t ‘forging consensus,’ is it? Isn’t that silencing opposition or reason-based concerns?

Isn’t what Clayton/Berkshire Hathaway lenders in manufactured housing want is to keep their choke-hold on lower-cost home lending, while promoting their own growing interests in conventional housing, all at the same time?

 

WHERE IS THE LOGIC OF HAVING MANUFACTURED HOMES THAT MAY AS WELL BE MODULARS?

Unless it was to derail GSE lending, and harm independents, all by another slight-of-hand?

All magic tricks are gimmicks, ploys – tricks. The hand is quicker than the eye. Something looks or sounds cool and good, and razzle dazzle presentations are built around it with high-cost consultants who will naturally say what the ones who wrote the check want said. That’s what a state association executive, an MHI member, has told MHProNews.

Some people will always follow a given con, that’s why tricks exist – they work on some people.

This new class of homes is a purported trick, and that is arguably why Richard ‘Dick’ Jennison would not go on with his public presentation at Louisville last January. He apparently feared having to answer questions from the Daily Business News or from members of the audience, who came armed with questions supplied by MHProNews.

 

 

It is also why Fannie Mae arguably cancelled an interview with MHProNews that their media contact had already agreed to do.  What caused that last minute cancellation?  Note that they cancelled only after they knew that among our questions would be some that focused on the genesis of how this new class of homes.

It’s Clayton and MHI, isn’t it?  How else does one explain that BOTH GSEs wanted the same thing?

 

MHARR Exposes GSES’ Failure On Chattel Financing Before Congress

 

What’s Overlooked

The genius of the HUD Code is performance-based standards that superseded other local housing code stipulations. That performance based method keeps housing costs lower for marginal buyers who won’t qualify for $150,000-$225,000 priced housing. Yet the HUD Code achieves that without sacrificing safety or durability.

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All of the above are HUD Code manufactured homes, built years before the Clayton-MHI backed new class of homes. Newcomers to the website not familiar with modern manufactured homes, learn more by clicking the image above or the link here.

 

There have long been those who argue the HUD vs MOD matter.  Our publisher said years ago that all of factory-built housing should agree not to undermine each other’s products.  Automakers don’t undermine entry-level cars when selling a Rolls Royce. Besides, more expensive modular homes can have their own headaches, as do site built housing, as a new report yesterday underscored.

 

“No Good Deed” – Brad Pitt, Make It Right Foundation Sued for Defective Modular Housing, NBC News, More Video

 

  • Let modular builders do whatever the law allows.
  • Let HUD Code builders build entry-level or more residential-style homes, in any ethical manner that they wish.
  • Ditto for tiny housing, prefab, conventional builders, and so on down the list of legitimate, safe and durable housing providers.

But the Housing and Economic Recovery Act of 2008 (HERA) which gave the Government Sponsored Enterprises (GSEs) of Fannie Mae and Freddie Mac the Duty to Serve Manufactured Housing didn’t mandate any changes to the federal HUD Code.  The GSEs should be providing lending on entry level HUD Code homes, including chattel loans, not just on these pricey new semi-modular housing units.

ManufacturedHousingAssocRegulatoryReformMHARRMarkWeissDTSFHFA-GSEsGoingtoLargestBusinessesCorpAffiliatesDailyBusinessNewsMHProNews

Collage by MHProNews.

 

This new class of homes is arguably a Trojan Horse, a blind alley, a grifters trick.

YouGetMoreOfWhatYouEncourageLessofWhatYouDiscourageMartyLavin

The logic of this statement can be applied to a variety of cases.

 

And sadly, the money trail and evidence – see links below – point to Clayton, 21st and Vanderbilt engineering this via MHI. That means that better lending would be unavailable to the majority of potential manufactured housing customers, as well as to those in communities or private land that may want to refinance their high cost Berkshire Hathaway loans at a lower rate.

 

KennyLipschutzQuotePoorJobOfLobbyinginMHIndustry-postedMHProNews48thMHINCClist

The charade calls for a federal investigation into MHI and the manufactured housing industry’s Berkshire brands, which sources suggest may already be underway.

SoTheAssociationMHIIsNotThereFortheIndustryUnlesstheinterestsoftheBigBoysJointheIndustry'sMartyLavinMHIAwardWinnerQuoteMHProNews

MHProNews looks at the facts, considers the sources, and follows the evidence. MHI earlier last year, and for years before, MHI routinely replied promptly to all inquiries. But since we’ve spotlighted the problems and concerns, they’ve gone silent. Why? If the facts are on their side, why not publicly make a cogent explanation?

 

Housing Choice should become part of the industry’s mantra. For our part, we will spotlight those issues that obscure the common-sense of making manufactured housing another ‘affordable housing choice‘ that home seekers can make with their heads held high, without having to jump through any special and limiting hoops.

 

Duty To Serve, “Complete Waste of Time” per Tim Williams, CEO/21st Mortgage; POTUS Trump, Warren Buffett Insight$

There’s more to come on this in the days ahead, so stay tuned to the only source in manufactured housing trade media that tackles the tough topics with facts, evidence, money trail, reason, and moxie. See the related reports, further below. “We Provide, You Decide.” © ##(News, analysis, and commentary.)

NOTICE: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two.

(Related Reports are further below. Third-party images and content are provided under fair use guidelines.)

1) To sign up in seconds for our MH Industry leading emailed news updates, click here.

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To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

2) To pro-vide a News Tips and/or Commentary, click the link to the left. Please note if comments are on-or-off the record, thank you.

3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

Related Reports:

“Take the MH Advantage Challenge – Can You Tell the Difference?” Fisk of Sarah Edelman, Director of Duty to Serve, Single-Family Mortgage Business for Fannie Mae

GSEs’ “Duty To Serve Underserved Markets” Plans

 

Fannie Mae Touts MH Advantage Program, But Manufactured Housing Association Slams Plan as “Illegitimate,” “Bait and Switch”

Warren Buffett, Charlie Munger, Fannie Mae, Freddie Mac, Berkshire Hathaway Backstory

Machiavellian “Godfather” – Sam Zell, Warren Buffett, Capital, Lending and Crossed Lines in Manufactured Housing

Bloomberg “New Home for $90,000? Manufactured Housing Is Making a Comeback” Reveals MH Media Challenge

 

Secretive “NEW” Class of Manufactured Housing Raises Serious Concerns

White House Economic News, Christmas, & Oval Office Views, Plus MH Market Updates

November 30th, 2018 Comments off

CNNmoney11.30.2018ManufacturedHomeStocksMarketsReportsMHProNewsThere is more industry and other interconnected news than we could possibly cover as we are currently configured.  Actually, that’s true for any news organization. The New York Times and/or Fox News could each cover more news than they do, but it would take more time, talent, and treasure.  Here in MHVille trade media, MHProNews totally dominates in every possible way for content, readership, breadth of topics, and more.  We say thanks to readers and supporter alike, but it also means we must be curating – selecting – topics that our industry’s professionals and investors are finding useful and of interest. Periodically, that includes news and views share by the White House, which will be the case in our featured report tonight.

 

If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline report is found further belowafter the newsmaker bullets and major indexes closing tickers.

 

The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets.  Headlines – at home and abroad – often move the markets.  So, this is an example of “News through the lens of manufactured homes, and factory-built housing.” ©

Part of this unique evening feature provides headlines – from both sides of the left-right media divide – which saves busy 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.

This is an exclusive evening or nightly example of MH “Industry News, Tips and Views, Pros Can Use.” © It is fascinating to see just how similar, and different, these two lists of headlines can be.

Want to know more about the left-right media divide from third party research?  ICYMI – for those not familiar with the “Full Measure,” ‘left-center-right’ media chart, please click here.

 

 

Select bullets from CNN Money…

  • Microsoft passes Apple to become most valuable company
  • Richard Branson says Virgin Galactic will take people to space before Christmas
  • Virgin Galactic bounces back from tragedy with big plans for the future
  • Apple Music is coming to Alexa
  • Marriott data breach FAQ: What to do if you’re affected
  • Fed reportedly probing Goldman’s role in Malaysian scandal
  • Amazon explores identifying burgulars with facial recognition technology
  • PERSPECTIVES China isn’t playing fair. Trump and Xi can change that during G20
  • These giant US companies could suffer if China trade talks go south
  • The economy is hot. Shouldn’t that slow down T.J. Maxx and Burlington?
  • More police raids at Deutsche Bank spell trouble for its new CEO
  • India’s economy just suffered a sharp slowdown
  • GM workers will have job options — but they may not be as good
  • ANALYSIS After Carlos Ghosn, Japan may never hire another foreign CEO
  • PERSPECTIVES What happens when CEOs have too much power
  • A tax-efficient way to grow your investments and give to charity
  • This photo taken on January 11, 2018 shows a Marriott logo in Hangzhou in China's Zhejiang province.
  • Marriott reveals one of the biggest data breaches ever
  • TIMELINE He started out with a record company in 1970. Now Richard Branson is launching rockets into space
  • A Google official speaks at a developer conference in San Francisco. Google is cooperating with Samsung Electronics Co. to develop foldable smartphones.
  • Samsung’s folding screen tech has been stole
  • Patagonia donating tax cut for climate change
  • These companies are leading the fight against climate change
  • These homes can withstand hurricanes, earthquakes and fires
  • Ikea has a plan to fix the pollution crisis in India’s cities
  • Alphabet spinoff wants to turn your lawn into your heater and air conditioner
  • WHAT’S AHEAD FOR GENERAL MOTORS
  • The company’s future without cuts would be even tougher
  • GM will no longer make these 6 cars
  • The existential threat facing the auto industry
  • Without GM, this town will never be the same
  • Trump threatens to cut GM subsidies. Here’s the real story

 

Select Bullets from Fox Business

  • Stocks close higher ahead of Trump-Xi meeting at G-20
  • Facebook woes: A timeline of scandals plaguing Zuckerberg’s company
  • US-China dominance struggle creates ‘possibility of war’: Dalio
  • Trump’s team: Here’s how much top officials made last year
  • Honeywell moves HQ out of NJ despite $40M in tax credits
  • Multiple dog food brands recalled for elevated vitamin D
  • USMCA is signed, now companies, unions and activists weigh in
  • Trump-backed food stamps work requirement reform dropped by lawmakers
  • America first? Mexico, Canada push back on name of new trade deal
  • The NRA lost $55M in income in 2017
  • Retirement, Savings and Tax Relief Act of 2018, right bill at right time
  • Why G-20 may be bigger for oil markets than OPEC meeting: Opinion
  • Obama’s alternate energy reality: Opinion
  • GM CEO Mary Barra to meet with lawmakers amid Trump threats
  • Tesla producing 1,000 Model 3 cars per day: Report
  • These states spend the most money on welfare
  • Trudeau slams GM closures, urges Trump to remove tariffs
  • Marriott discloses data breach that could affect up to 500M guests
  • Here’s how much your stolen info is worth on the black market
  • The worst cyber attacks of the past 10 years
  • What cybercriminals really want to steal from you
  • These colleges have the most Fortune 500 CEO alumni
  • The average Social Security benefit might surprise you
  • Mic will reportedly be sold for $5M despite recent $100M valuation
  • Here are the new tax brackets for 2019
  • China reports weakest factory growth in over 2 years
  • Farmers growing impatient amid US-China trade dispute
  • The US-China conundrum: Larry Summers
  • The real winner from the romaine E.coli outbreak: Iceberg lettuce
  • Time for law enforcement to end the cash grab: Kennedy
  • These six figure jobs don’t require a college degree
  • US new-home sales plunged 8.9% in October[overlay type]
  • US new-home sales plunged 8.9% in October
  • These cities are home to the most millionaires per square mile
  • Why 2019 could be a tough year for home buyers and sellers

 

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

9MarketIndicatorsYahooFinance11.30.2018DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

 

Manufactured Housing Composite Value (MHCV)

YahooFinanceManufacturedHousingCompValue11.30.2018DailyBusinessNewsStocksMarketsDataReportsMHProNews

 

Today’s Big Movers

For all the scores and highlights on tracked manufactured home connected stocks today, see thBloomberg graphic, posted below.

 

Today’s MH Market Spotlight Report –

This evening’s report is an assortment of topics, which is precisely what the White House provided us on MHProNews in the last roughly 30 hours. We get daily updates from the White House, along with reports from HUD, and numerous other federal offices and agencies.  Then, there are associations, companies, reader news tips, and so much more.  Plus, our own research on issues that experience tells us matters to manufactured housing.  But tonight, its a mix, including some lighter side for the Christmas season.  We wish our Jewish friends and colleagues a happy Hanukah.

ResoluteReadsWhiteHouseSealManufacturedHousingIndustryDailyBusinessNewsMHProNews

President Trump Signs NAFTA Replacement Deal with Mexico, Canada

Earlier this morning, President Donald J. Trump signed a three-way trade deal with Mexico and Canada that will replace the outdated NAFTA if it is approved by Congress. “Trump signed the U.S. Mexico Canada trade agreement in Argentina on the side of the G-20 summit,” Pete Kasperowicz reports in the Washington Examiner.

“This is a model agreement that changes the trade landscape forever, and this is an agreement that first and foremost benefits working people, something of great importance to all three of us here today,” the President said.

Click here to read more.

 

 

“The International Labor Organization estimates that worldwide, nearly 25 million children and adults of all ages and backgrounds are victims of human trafficking, including forced labor and sex trafficking. Every government in the world has a moral obligation to do all in its power to stop these heinous crimes within its borders,” Advisor to the President Ivanka Trump writes in The Washington Post. “That is why President Trump took strong action on Thursday to hold accountable those governments that have persistently failed to meet the minimum standards for combating human trafficking in their countries.”

 

 

“Son-in-law and senior adviser to the president Jared Kushner received Mexico’s highest honor awarded to foreigners on Friday. Mexican President Enrique Pena Nieto bestowed the Mexican Order of the Aztec Eagle to Kushner in a ceremony that President Trump made an unscheduled stop at Friday morning,” Katelyn Caralle reports in the Washington Examiner. “I believe we are at a historic place in the relationship between our two countries,” Mr. Kushner said during the ceremony.

 

 

“U.S. Border Patrol agents have arrested a member of the infamous Salvadoran MS-13 gang who admitted to authorities that he traveled with a caravan of Central American migrants who were hoping to qualify for asylum in America,” Mairead McArdle reports for National Review. “During questioning at the El Centro station, the Honduran citizen confessed that he is an active member of MS-13 and had intended to enter the country illegally after traveling to the U.S. with the caravan of thousands of other migrants. He is in custody pending his deportation back to Honduras.”

 

 

“New numbers from the Department of Homeland Security show that just 9 percent of asylum claims made by individuals from Central America turn out to be legitimate,” Katie Pavlich reports for Townhall. “The fact that only 9 percent of those who initially claim asylum are found eligible, indicates that we are expending most of our limited resources – detention space, court space and the time of our asylum officers and immigration judges – denying frivolous or illegitimate claims of asylum from the 9 out of 10 who are found ineligible,” DHS said in a statement.

 

 

The White House • November 29, 2018

The 96th lighting of the National Christmas Tree

Last night, President Donald J. Trump and First Lady Melania Trump celebrated a classic America tradition: the lighting of the National Christmas Tree.

“This is a time of the year for rejoicing with our family and friends, for spreading charity and goodwill in our commitment all over this country in all of our communities, and for giving thanks for all of the blessings in our lives,” the President said from the Ellipse at President’s Park, just steps from the White House.

“No matter one’s faith or beliefs, the Christmas season reflects all that is best in the American spirit.”

Every year, crowds withstand the sometimes frigid D.C. temperatures to witness the ceremony put on by the National Park Service and the National Park Foundation. Amid multiple musical performances by a range of guests, including the U.S. Army Band, the President and First Lady led a countdown to the tree’s first lighting of the season.

“On behalf of Melania and myself and the entire Trump family—many of whom are with us tonight—I want to again wish you all a very, very Merry Christmas.”

Watch President Trump and the First Lady lead the National Christmas Tree lighting.

MoreThe First Lady unveils this year’s White House Christmas decorations

 

 

First Lady Melania Trump talks opioid abuse at Liberty University

Yesterday morning, First Lady Melania Trump joined Eric Bolling, Health and Human Services Secretary Alex Azar, and Homeland Security Secretary Kirstjen Nielsen at Liberty University in Virginia for a town hall on opioids.

“When I took on opioid abuse as one of the pillars of my initiative BeBest, I did it with the goal of helping children of all ages,” the First Lady said.

To a full stadium of students, she explained the scale of the problem and how each person can make a difference. More than 130 Americans die each day from opioid overdoses. Last year, those overdoses accounted for over 72,000 deaths—more than any previous year on record.

Under President Trump’s leadership, signs of hope are emerging. “The results speak for themselves,” Counselor to the President Kellyanne Conway wrote last month. “Seizures of several kinds of illicit drugs are up, the number of new 30-day prescriptions is down and overdose deaths attributed to prescription pain medications have started to level.”

Watch highlights of the First Lady’s talk at Liberty University.

Kellyanne ConwayWe can bring the opioid crisis to an end

 

 

Photo of the Day

 

Official White House Photo by Andrea Hanks

 

President Donald J. Trump and First Lady Melania Trump wave to the crowd after lighting the National Christmas Tree on the Ellipse | November 28, 2018

WhiteHouseNationalChristmasTreePhotoAndreaHanksDailyBusinessNewsMHProNews600x315

 

 

 

Bloomberg Closing Ticker for MHProNews…

NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services.

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).

11.30.2018DailyBusinessNewsManufacturedHousingConnectedMarketReportsBloombergMHProNews

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 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.”

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsWe Provide, You Decide.” © ## (News, analysis and commentary.)

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

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

Fed Chair Powell’s Full 24 Minute Economic Speech, Stocks Roar, Plus MH Market Updates

November 28th, 2018 Comments off

CNNmoney11.28.2018ManufacturedHomeStocksMarketsReportsMHProNewsWho said that jawboning doesn’t work? President of the United States (POTUS), Donald J. Trump has been saying very publicly that he isn’t even a little happy with his pick to head the Federal Reserve as chairman, Jerome Powell. Today, in Powell’s speech to the Economic Club of New York on the state of the U.S. economy and the pace of interest rates.

 

If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline report is found further belowafter the newsmaker bullets and major indexes closing tickers.

 

The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets.  Headlines – at home and abroad – often move the markets.  So, this is an example of “News through the lens of manufactured homes, and factory-built housing.” ©

Part of this unique evening feature provides headlines – from both sides of the left-right media divide – which saves busy 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.

This is an exclusive evening or nightly example of MH “Industry News, Tips and Views, Pros Can Use.” © It is fascinating to see just how similar, and different, these two lists of headlines can be.

Want to know more about the left-right media divide from third party research?  ICYMI – for those not familiar with the “Full Measure,” ‘left-center-right’ media chart, please click here.

 

Select bullets from CNN Money…

  • Dow surges 600 points after Fed hints rate hikes will slow
  • Google CEO to appear before Congress where he will likely face questions from Republicans on political bias
  • The US economy is strong. Three signs it won’t last
  • Oil and tech’s crash have wrecked hedge funds
  • US trade deficit rises despite Trump’s tariffs
  • ‘Fearless Girl’ is finally moving to its new home
  • Minority employees are often asked to work ‘double duty’
  • Trump threatens to cut all GM subsidies
  • Without GM, this town will never be the same
  • Chinese tourists are spending less at Tiffany’s
  • One of America’s last industrial conglomerates is breaking up
  • How three men created a $1 billion salad chain
  • How low can oil prices go before Saudi Arabia starts hurting?
  • Why Microsoft is a better bet than Apple
  • Jeep unveils the Gladiator
  • Jeep will make its first pickup in 26 years
  • Amazon could win the battle for holiday toy sales
  • Watch out for these holiday shopping scams
  • It’s a do-or-die Christmas for Sears and Kmart
  • Was this the last great Black Friday for deals?
  • Target, Kohl’s and TJX are hot, but Wall Street is worried about the holidays
  • Trump wants iPhones made in the US. That could be bad news for Americans
  • The extreme ways people protect themselves from hacks
  • In these stores of the future, you grab stuff and leave
  • How Uber CEO Dara Khosrowshahi got comfortable with reinvention
  • Inside China’s Silicon Valley: From copycats to innovation

Select Bullets from Fox Business

  • Dow gets 617 Powell pop, best three days since 2016
  • Here’s what would happen if Trump cut GM subsidies
  • GM offered employees buyouts before layoff announcement: Report
  • Gas selling for under $2 per gallon in these states
  • Elon Musk calls off plan to build high-speed tunnel under Los Angeles
  • Trump praises Steel Dynamics for new billion-dollar steel mill
  • Tax bill on retirement, IRS introduced by top US House tax writer
  • What Americans see as US economy’s main threat
  • Patagonia gives GOP tax windfall to environmental groups
  • $350M loan will keep Sears open through holidays
  • Americans’ dream jobs and how to land themThe 6 vehicles GM will no longer produce
  • Trump vs. the Fed: A look at all the president’s attacks
  • Did Fed’s Powell blink after Trump’s attacks?
  • US new-home sales plunged 8.9% in October
  • These cities are home to the most millionaires per square mile
  • Why 2019 could be a tough year for home buyers and sellers
  • Ohio state treasurer to Trump: Fight ‘like hell’ for our GM workers
  • CVS, Aetna merger: What it means for you
  • Department of Education: Student loan crisis may hit economy
  • Student loan crisis may soon hit the economy: DOE
  • Amazon to sell medical software that reads records, cuts costs
  • AI at work: Acquiring job skills needed to thrive in a new era
  • Venezuela à la carte: Government services for sale
  • As GM plans scale back in US, BMW considers ramp up
  • Trump blames GM plant closures on lack of auto tariffs
  • How to plan financially for death or illness
  • Fed warns trade tensions could pose risk to US financial system
  • Lessons from the GM layoffs: End the tariffs and the subsidies

 

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

9MarketIndicatorsYahooFinance11.28.2018DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

 

Manufactured Housing Composite Value (MHCV)

YahooFinanceManufacturedHousingCompValue11.28.2018DailyBusinessNewsStocksMarketsDataReportsMHProNews

Today’s Big Movers

For all the scores and highlights on tracked manufactured home connected stocks today, see thBloomberg graphic, posted below.

Today’s MH Market Spotlight Report –

Watch Fed chair’s Jerome Powell’s full speech on the US economy to the Economic Club of New York.

 


Some Bullets from CNBC this evening:

  • Interest rates are still low by historical standards, and they remain just below the broad range of estimates of the level that would be neutral for the economy — that is, neither speeding up nor slowing down growth,” Powell said in a speech at the Economic Club of New York on Wednesday.
  • Following that, the Dow surged.  3rd day of gains.
  • The Dow Jones Industrial Average climbed 617.70 points, or 2.5 percent, to 25,366.43, posting its biggest one-day gain since March 26. The 30-stock index also notched its second-best day of the year and is up more than 1,000 points for the week.
  • The S&P 500 jumped 2.3 percent to 2,743.82 as traders took the comments to mean fewer rate hikes were coming in 2019 that could derail the bull market. The Nasdaq Composite advanced 2.95 percent to close at 7,291.59 and post its best day since Oct. 25. The Dow and S&P are now positive for November after Wednesday’s comeback.

Related Reports:

Bull Run, Part II Ahead? Says Raymond James Executive, Plus MH Market Updates

 

Annual Home Gains Slow, per S&P CoreLogic Case-Shiller – Manufactured Housing‘s Missing Mantra

New York Times-David Leonhardt-“The Monopolization of America,” Manufactured Housing Slant

Clayton Homes Owned Sales Centers Reveal Surprising Trend

 

FedChairPowellsFull24MinuteEconomicSpeechEconomicClubNYDailyBusinessNewsMHProNews

Bloomberg Closing Ticker for MHProNews…

NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services.

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).

11.28.2018DailyBusinessNewsManufacturedHousingConnectedMarketReportsBloombergMHProNews

 

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 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.”

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsWe Provide, You Decide.” © ## (News, analysis and commentary.)

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

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