Issue link: https://read.dmtmag.com/i/720597
SEPTEMBER 2016 6 THE JOURNAL With headquarters in Knoxville, TN, 21 st Mortgage Corporation is a full service lender specializing in manufactured housing loans and inventory financing for manufactured home retailers and land-leased community owners/operators. The company operates in 47 states while originating more than $1B an- nually. 21 st Mortgage is currently serving more than 180,000 customers with a total loan portfolio over $8B. Potential home- buyers are offered a full range of lending pro- grams including home-only loans, pre-owned home loans, equity-building programs, bi- weekly payment plans, and stage-funded land/home loans. Founded in 1995 and acquired by Berkshire Hathaway and Clayton Homes in 2003, 21 st Mortgage has led the industry in loans origi- nated and customers served each of the last ten years. The company has been awarded the prestigious Lender of the Year by the Manufactured Housing Institute for six years running. Additionally, with over $350M out- standing, the Inventory Finance division has been awarded MHI's Floor Plan Lender of the Year during five out of the last six years. The focus of 21st Mortgage is to offer a full line of products that help more customers achieve the reality of home ownership. From chattel or home-only lending to full-service, land-home transactions, 21 st Mortgage has a lending product for most qualifying con- sumers. 21 st Mortgage has expanded its offering and support to land-leased community owners/operators. This is a critical segment of the industry that has been underserved with affordable consumer financing alternatives in years past. The recently revised Communi- ties Affordable Spec Home (CASH) program is just one example. The program is designed to address the community operators' two greatest challenges: cash flow and available chattel financing for today's prospective con- sumers. 21 st Mortgage will place spec homes in approved communities and will utilize an enhanced underwriting and loan structure to increase availability of affordable financing. The New CASH program now allows the community owner to realize 100% of their home site rent while continuing to offer the most affordable lending terms to home buyers in the community. 21 st Mortgage's Land/Home Department has led the industry for many years with fast and friendly service. The 21st Mortgage Land/Home Program offers a low cost loan with a one-time, front-end closing. With flexible down payment options, property owners frequently use the equity in their land in lieu of the required cash down payment. With more than forty percent growth in just the last year, more and more buyers are expe- riencing the benefits of our dedicated land/home team. 21 st Mortgage Corporation is the only na- tional lender offering both consumer and in- ventory financing. Over the last fifteen years, 21 st Mortgage has contin- ued the growth of the company's inventory financing, or "floor- plan", division. As the industry's largest 21st MORTGAGE CORPORATION 21st Mortgage Corporation A Leading Lender for Manufactured Housing FINANCIAL \ 10