The Rishel Group is a nationally known consultancy helping both depository and non-depository lenders with their issues and problems relating to chattel lending with manufactured homes serving as the collateral for those loans. The founder started making these types of loans in 1975, and over the years entities under his guidance have made billions of dollars in loans. Unlike other, better known lenders, these loan portfolios have never lost anyone any money.
In 1998, he was approached by the largest private owner of manufactured home land lease communities with a request to help that owner start and build a non-depository lending operation to serve as a captive finance company. Ten years later that finance company had originated and was servicing a loan portfolio of over $50,000,000.00.
In 2006, The Rishel Group was formed specifically to assist depository institutions who were already engaged in the chattel financing of manufactured homes improve their loan portfolio performance and their return on investment. In the same year, the consultancy expanded its offerings to assist non-depository lenders in de novo planning and implementation, as well as working with existing operations to improve their operational efforts and profitability. Since 2006, The Rishel Group has guided over 500 entities through the de novo process to become non-depository lenders, and has a customer base of over 5000 customers nationwide. In 2011, MHI, the national trade association, awarded its National Award as Service Supplier of the Year. In 2013, the founder was selected as the Manufactured Housing Industry Person of the Year.
In 2014, using years of experience in helping depository lenders enter the arena of chattel lending on manufactured homes, The Rishel Group developed a strategic joint venture program for manufactured housing retailers and community owners to work with local depositories in the origination and servicing of manufactured home secured chattel loans. This innovative program overcomes many obstacles a depository would normally face in making these loans and allows retailers and community owners a source of lending for their customers without meeting the regulatory challenges that exist in the United States today.