lenders in S. California

[kevin o']

We have just begun our search for a MHLL loan. The only bank around here that I was told still handling personal loans on MH for rental sites is Bank of A.

However, a B of A phone rep told me that they sold the business to Greenpoint Credit of Tempe, AZ. Subsequent calls to the Greenpoint office are not answered. Does anyone know if they are still in business? Perhaps calling on friday afternoon I caught them off for the weekend earlier than expected.

In any event, I'll continue to pursue financing through banks and so forth before we head to a broker or dealer. Would anyone care to offer some leads for this area?
We want to live in Orange County. Thanks.

[kevin o']

Well, I found the answer a few minutes after posting this. Greenpoint has sold their MH financing business, effective 1/2/02. Went to their website (Greenpoint Financial) and found details. ( They said they will not take any new business, honor current deals and hope to sell the $850 mil. portfolio, etc, etc.)

Explains why the phone answering system was out of whack. Funny too, that B of A is still referring customers to Greenpoint. I should send them an e-mail and tell them their portfolio has been sold (again) and maybe they should tune-up their in-house communications and save consumers a lot of time calling and e-mailing all over the place.

[Randy Eaton]

Kevin,

Try Washington Mutual.

Randy Eaton

[kevin o']

Randy,

A customer of mine is a manager with Washington Mutual. I asked her last week if they funded MHLL and she said "no, we're only doing land/home packages."

Today I was at a Hallmark dealer and they thought W.Mutual did. In fact, this salesperson did business with the same manager I spoke to. However, she said it had been a year since they've worked with W. Mutual.

I'll call that manager again for a clarification, but unless I misunderstood her, she said they stopped MHLL funding last year.

Thanks Randy.


(By the way, the $90K+ Hallmark homes are very classy. Now I know what a higher quality MH looks like. The finish, floors, exterior, doors, windows etc., which are standard, bring home the reality of how much better a home the extra money will bring. Hallmark looks like a solid investment , not a entry level option.)