Financial Institutions
Do you know what secondary market programs are available from
Freddie Mac, Fannie Mae, and FHA?
Chattel Home Finance: Commonly called “Home Only Finance” is unlike mortgage finance because the lender seldom takes a security interest in real estate or the site where the home is placed. If you are a national, regional, or community bank or credit union that either has a portfolio of loans or is considering financing manufactured housing, it is important to know “the ins and outs” of financing.
Mortgage Financing for Manufactured and Modular Homes: Do you know what a C of O is? Do you know how to record and perfect your lien on a “land and home” transaction”? Do you know what FHA programs are available for manufactured and modular housing? Favorable results require doing it right!
Portfolio Analysis: Have you recently merged with or acquired another institution that has a portfolio of loans: Which ones are manufactured? Which ones are modular? Do you want to know how they were made and how they will perform in the future? What have you bought? What are the refinance options available?
Due Diligence: Looking to acquire a portfolio of manufactured housing loans? What are they worth? How well were they underwritten?
Property and Casualty Insurance for Manufactured Housing Loans: Who are the best companies to work with that can provide good coverage, good portfolio monitoring services? Do you know the requirements for Escrow of Property and Casualty Insurance on Manufactured Housing Loans? Escrow also for taxes?
Portfolio Marketing: Do you have a portfolio of loans you want to sell?
Private Conduit: Are you looking for a way to make manufactured housing loans with longer terms and fixed rates and sell them so you don’t have to portfolio the loans? How much can you make in fee income and what is the market for selling those loans?