After an unexpected jump in February, existing home sales in the US fell back to disappointing levels in March, according to the National Association of Realtors.https://t.co/N0mGDscBry#mortgageindustry #homesales #housingmarket #economy
— Mortgage Professional America Magazine (@MPAMagazineUS) April 19, 2024
For Henley, whose mother- and father-in-law offered an introduction to the space, it’s an attractive means of getting borrowers into a property – with lenders’ decision-making process for those loans largely the same as others.
“It’s very similar,” she said. “We look for all income types, all credit types. We basically find the right [fit] for the borrower – there are no specifics, really.”
Strong relationships with builders and construction companies have proven a good way for Henley to deepen her understanding and expertise of the space throughout an 18-year stint to date in the mortgage industry.
“I pretty much have done the majority of my business in manufactured and modular homes, and started from the ground up – doing trade shows, visiting dealerships,” she said. “Everything just comes from a referral base, word of mouth. I do a lot of construction, and I’ve pretty much capitalized on that product.
“Educating the borrowers along the steps of the way [is important], reaching out to the manufacturers directly. I work with a lot of the factories, a lot of the manufactured home sales centres, keeping them informed on market conditions, things that are going on, and rate changes.”
Source: mpamag.com