Warren Buffett Mortgage Firm Opens Commercial Lending Division

Oct 18, 2017

Moody’s Analytics has launched the Real Estate Information Services (REIS) Network

Vanderbilt Mortgage and Finance Inc., a division of Warren Buffett’s Berkshire Hathaway business empire that specializes in consumer manufactured housing, has created a commercial lending division.

The new division will offer commercial financing in select states, with a lending range between $1 million to $5 million. The division’s borrowers will be land-lease communities, including communities and parks serving this housing sector. Maryville, Tenn.-based Vanderbilt will approach this business as a portfolio lender and servicing the loans it originates.

“Manufactured housing is providing a solution to the affordable housing crisis,” said Eric Hamilton, president of Vanderbilt Mortgage and Finance. “We are very excited to launch this division which will help owners of land-lease communities provide more access to high-quality, low-cost housing options.”

About the author

Phil Hall

Link copied

Published

Oct 18, 2017

Analysis and Data

Mortgage Rates Surpass 7% For First Time This Year

Freddie Mac reported the 30-year fixed-rate mortgage averaged 7.10%.

Freddie Mac today released its Primary Mortgage Market Survey, revealing the 30-year fixed-rate mortgage (FRM) averaged 7.10%, breaching the 7% threshold for the first time this year. “The 30-year fixed-rate mortgage surpassed 7% for the first time this year, jumping from...

Analysis and Data

Existing Home Sales Decline By 4.3% In March

Northeast the only region to see an uptick in sales over prior month, per a new report from the National Association of Realtors

Fewer people bought homes this March than the month before and during March 2023, a new report from the National Association of Realtors (NAR) reveals. Total existing-home sales receded 4.3% from February to a seasonally adjusted annual rate of 4.19 million in March. Year...