Most lenders view the manufactured home loan as a “nuisance” loan. No matter what kind of manufactured home you have (even if it has tile roof and drywall interior), you’re going to be lumped into the “trailer” category in the mind of the loan officer. This is just a “loser loan” for him. A lot of work, and not enough commission! Plus there are so many compliance hoops to jump through and the compliance checklist is often daunting to the novice. And for the typical lending office, very rarely do the support staff know what they are doing. The processors don’t even understand the vocabulary much less the fine details, appraisers sometimes submit their data on the wrong form and even underwriters often fail to manage the file properly. (more…)