In the world of FHA lenders, you have the lender, which is usually a mortgage broker like me and a sponsor, which is the bank that supplies the money at closing.  If the FHA will insure a manufactured or mobile home, then the sponsors can fund FHA insured manufactured homes.  But they may also reserve the right NOT TO.    This week, one of the remaining sponsors of manufactured / mobile home FHA insured loans stopped accepting applications for this type of collateral.  Ouch!

The problem is, we keep losing sponsers and we are not replacing them.  Soon, this illiquidity is going to cause a problem, especially in Florida where we have so many homes like this.

I can't say I blame the sponsors if they are forced to foreclose on an extremely large percentage of these loans, but they are FHA insured and what about all the good apples?

If you need a loan on a manufactured home any time in the near future in Florida or Georgia, I'd encourage you to move fast.  Rates are low and lending is tightening for the best of credit risks.

Call Randall today at 863-229-1235 and speak with an expert.