More bad news for chattel mortgages

The situation keeps getting worse and worse in the finance industry, more so with our own beloved chattel mortgages. Chattel mortgages, for anyone who doesn't know, is a loan on a manufactured home itself- no land or anything- just the home. These types of loans apply mostly to manufactured homes located in parks. Today, I received a fax from Origen Financial, one of the biggest chattel lenders in the United States. As of yesterday, March 13, they are no longer accepting loan applications- basically- they're done- nada mas... This delivers another crushing blow to the manufactured home industry, especially those who depend on chattel mortgages to get buyers into their homes or communities. OUCH! Honestly, if affects us at Black Hawk Homes as well. Origen was one of our main lenders. Now, its over Johnny...