May 11, 2016
The manufactured housing finance market has never been static. However, unprecedented regulatory changes, which are still under discussion and subject to potential adjustments, are expected to have a significant impact on the entire manufactured home lending industry. Since the new rules will also affect the secondary market for manufactured home loans, compliance expertise has become a key prerequisite not only for properly implementing the new legislative framework and keeping abreast of future regulatory developments but also for doing business with integrity and accomplishing investment objectives.
Considering the ever-increasing array of new regulations that are projected to cause major changes across the manufactured home lending industry, there has never been a better time than now to outsource your manufactured home loan services to a reliable company. If you’re still unconvinced, we invite you to read the following four reasons why you should consider outsourcing your loan services.
1. Loan portfolio performance improvement
Manufactured home loan processing is a painstaking, time-consuming procedure, which demands that obsolete methods of operation be replaced with more efficient operational support systems and consulting services. If your employees don’t have the knowledge, experience and skills necessary to coordinate manufactured home lending processes, recruiting new loan processors, training them in the specifics of manufactured home lending and implementing the right support systems can become a huge financial burden especially for a small bank or credit union. How can you get around this problem? The best solution is to outsource your manufactured home loan services to a reliable loan origination and servicing company, such as Triad Financial Services.
For nearly six decades, we’ve processed tens of thousands of manufactured home loans, earning a reputation as a company with superior skill level and integrity. Because of our vast experience in the industry, we’ve been able to offer a series of low-risk, high-yield manufactured home loan products along with exceptional consulting services, saving banks, credit unions, dealers and realtors a lot of time and hassle, and maximizing their returns. In addition, our loan officers, funding specialists and compliance specialists are ready to help you improve your manufactured home loan processes and ensure regulatory compliance in your operations.
2. Reliable external support
Since niche loan products like manufactured home loans typically involve a thorough applicant screening process, comprehensive credit and borrowing capacity analysis, and time-consuming loan processing and closing procedures, a small financial institution might need external support to provide these types of loans. By outsourcing your manufactured home loan services to a specialty company, you’ll be able to execute sound investment strategies with a broader spectrum of manufactured home loan products and services, improve your portfolio performance and make your manufactured home lending program a success, which will help you achieve your financial goals.
3. More streamlined, scalable operations
Changing market conditions and consumer behavior demand new methods of operation that provide greater flexibility and reduce risks. Finding the right loan origination and servicing company to partner with will give your institution access to knowledgeable, experienced and dedicated professionals, who are ready to offer on-demand financial advice, improved risk management and the best operational support, irrespective of loan volume fluctuations and market conditions. At Triad Financial Services, for example, we have the capability to beef up our staff in order to adapt quickly to increasing or decreasing volumes in workload.
4. Improved staff and cost management
Outsourcing your current manufactured home loan services will enable your institution to supplement its portfolio with additional loan processing units. Not only will this free up your in-house resources for more valuable uses, but it will also reduce the costs of your lending operations. Since our specialists, for instance, will assess your portfolio performance within your lending environment, develop new investment strategies to optimize your resource utilization and support your back-office capabilities, you can avoid the costly acquisition and maintenance of your own staff.
As a premier outsourcing solution for manufactured home loans, Triad Financial Services can fulfill all the aspects of manufactured home loan servicing for your institution in a professional, efficient manner. Since our dedicated team specializes in providing professional loan processing, ranging from applicant screening to closing and payment collection, and deals with a larger volume of loans than a small bank or credit union, partnering with us will increase customer satisfaction, which will enable your institution to close more manufactured home loans. If you have any questions regarding our products and services, call our toll-free number (800)-522-2013 x-1287.