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Factory Home Loans by FHA Showed Increase

February 22, 1987

Loan originations through the Federal Housing Administration's Title 1 manufactured-home loan program rose 40.2% last year to 22,863, representing 9.4% of all manufactured-home loans in the nation.

David J. Leichey, a Palm Springs-based financial consultant to the manufactured-home industry, said loans through the Veterans Administration's manufactured-home loan program dropped 28.1% last year to 5,851. The decline resulted in the VA providing only 2.4% of all manufactured-home funding in 1986.

The manufactured-housing industry shipped 244,348 new homes last year, with a retail value of $5.1 billion, Leichey said.

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