CountryPlace Mortgage Launches Lending Program for Manufactured-Home Buyers

Nationwide Program Helps Provide Conventional and FHA Loans for Affordable Housing

Jun 01, 2010, 15:51 ET from CountryPlace Mortgage Ltd.

ADDISON, Texas, June 1 /PRNewswire/ -- CountryPlace Mortgage Ltd., a stable, reliable, and reputable source for residential loans since 1995, launched a new lending program this month to help community banks and credit unions provide home loans to buyers of manufactured homes.  

The Manufactured Home Community Lending Program focuses on providing conventional and FHA loans for buyers purchasing manufactured homes in rural and suburban areas.

"We created this program to help community banks and credit unions serve their customers who may be interested in manufactured homes," said CountryPlace national marketing representative, Bryan Chamberlain. "With more than 15 years in the mortgage business, CountryPlace understands home loans. By working with community banks and credit unions to provide real property loans for manufactured housing, we can help banks meet the needs of people in their communities who need housing in the low to moderate price ranges."

CountryPlace designed the program to work with community banks and credit unions that know their customers and want to help them purchase affordable homes. By participating in the program, they will be able to:

  • Assist their customers with home loans for new and resale manufactured housing that is classified as real property.
  • Assist their customers who want to convert construction loans for the purchase and installation of manufactured housing into permanent mortgages.
  • Enhance/create relationships with their customers by providing additional services.

Based in Addison, Texas, CountryPlace is initially targeting 18 states for the launch of the Community Lending Program. These state lists have been grouped into five regions:

  • Northwest — Washington, Oregon, Idaho
  • Southwest — California, Arizona, New Mexico
  • South Central — Texas, Oklahoma, Arkansas, Louisiana
  • South — Mississippi, Alabama, Georgia, Florida
  • Southeast  — North Carolina, South Carolina, Virginia, Tennessee

Experience in the lending industry sets CountryPlace Mortgage apart from its competition. Greg Aplin, who has been president of CountryPlace Mortgage since 2002, has 34 years of experience financing manufactured homes. Lyle Zeller, executive vice president since 2002, has 22 years of financial services experience.

Founded in 1995, CountryPlace began originating and servicing loans for its portfolio in July 2002. Each loan application receives a full review from CountryPlace underwriters and all loans are fully verified as to employment, income, down payment amount, and source. Accounts are managed centrally from CountryPlace's office in Addison, Texas. All contracts are simple interest with monthly billing cycles. NMLS #2124

Interviews available upon request.

CONTACT: Ryan Klee | Lenz, Inc.


SOURCE CountryPlace Mortgage Ltd.