Better credit applications speed the sales process

Article Abstract:

Manufactured housing sellers need to understand the credit approval process of financial institutions in facilitating loans to potential customers. Loan applications are normally weighed against four factors, including character, capacity, credit history, and collateral. However, two supplementary factors worth considering are credit score and common sense. The former is a summary account of the borrower's credit history from various sources while the latter focuses on the favorable components of the loan application and serves to resolve vague application information.

Commercial Banks, Mortgage and Nonmortgage Loan Brokers, Consumer Mortgage Loans, Mobile home dealers, Manufactured Housing Dealers, Manufactured (Mobile) Home Dealers, Analysis, Finance, Housing, Mortgages, Modular houses, Prefabricated houses, Credit management, Modular building dealers

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How many stars is it?

Article Abstract:

Woodall's mobile home part directory, which was published in 1970, provides detailed information on the rating of factory-built home communities though it was severely criticized for being simplistic, inaccurate and influenced by size and frequency of the community's advertisement in the directory. The need was greatly felt for a community classification system (CCS) that would be uniform and reasonably acceptable to the various stakeholders of interest and also to lenders.

United States, All Other Publishers, Catalogs & Directories, Miscellaneous publishing, Mobile homes, Usage, Evaluation, Directories, Mobile home industry

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