If you are a Bank or Credit Union either considering making chattel installment loans for manufactured homes, or you already have a portfolio of manufactured home loans and are experiencing some servicing difficulties, we can help. Done correctly, chattel manufactured home loans normally return the highest R.O.I. of any installment loan portfolio. Unfortunately, many depository lenders fail in achieving the anticipated R.O.I. because of two issues:
- They use standard underwriting techniques.
- They use standard servicing techniques.
Rishel Consulting Group principals have years of experience in creating high performance portfolios of manufactured home loans with low levels of nonperformance, and high levels of recovery on nonperforming loans. We can help create an industry specific mathematically modeled credit matrix that delivers the desired results utilizing years of portfolio histories from all over the United States if you are in the start up or active buying mode to assure predictable performance. If you are in a service or run off mode, we can strategically advise, or even supply the services to assure a maximum borrower performance rate, and protect the collateral and the recovery rate.
If your institution is lending on manufactured homes, or wants to, we are the team you need to help you reach your goals and satisfy your regulators. Reach out to us for the strategic planning and help you need to build a chattel lending operation, or to improve an existing one.
We can also help you plan for and build a strategic joint venture program with members of the manufactured housing industry that will help eliminate any auditor objections and lower the risk of loss to almost zero. This program is a stronger version of one that has been used for over fifty years by banks and credit unions with zero net losses and very high installment loan ROIs.
Chattel lending on manufactured homes helps with CRA initiatives while returning net-before-taxes ROIs that normally exceed 9%