Posted in Greenville, SC. Follow us facebook instagram twitter vimeo soundcloud youtube. Predictive modeling, which Williams first encountered in a Haslam statistics course, helped the company survive the downturn. By , they were looking at the market from a different point of view based on data they had collected to predict loan performance.
When the economy stabilized, 21st Mortgage stood almost alone as a lender in the manufactured housing sector. Hiring sharp college graduates and utilizing predictive data modeling gave 21st Mortgage an early edge over competitors, but the founders say investing in people is key to their success.
They receive at least 30 days of training before talking to a customer, which includes role playing and reviewing procedures and guidelines. They also shadow team members for a few weeks. He rose quickly through the ranks and uncovered a passion for management. I chose this lender because I was in search of someone that did lending for mobile homes and my selection was very limited in this area.
The application process was fairly simple and easy to self-direct. They were knowledgeable and was able to answer all my questions when I had them. I just wish for better communication since they were a little hard to reach. I'll read something, and then I might have questions later for quick clarification. I would have preferred some better effort on explaining some of the things that were being handled or what was asked of me.
I was unaware of a lot of things that I had to do a lot of research on my end. It would have been nice to have someone that would guide me a little bit in the right direction towards something.
It worked very well when I went to audit processing as they started to really close in and things started to become realistic for me. It was very helpful for that. I would definitely suggest this to people that have bought a home before looking for a smooth process. I would advise first-time homebuyers to really do their research on their own so they could already be a little bit knowledgeable and then come to the 21st Mortgage so they could direct them further.
Willing to help when needed. Will help find a solution to whatever you need and awesome to work with. Willing to listen to you if you have a problem. Outstanding to help with that problem.
Just awesome people to work with and and work for you. Thank you so much. My experience with 21 Mortgage customer service was satisfactory. Ethan was polite and very helpful. Everyone is going through tough times at present and it was calming to have someone like Ethan to help me through each process and options available to us. Thank you. Kayla is my account manager and has been so amazing handling our account. She has always been courteous and patient even through my mood swings.
She has amazing customer service. I wish all the representatives were as friendly and helpful. It truly makes the experience easier when the representative handles the situation with affirmative action. I deal with Christina for my mortgage payments each month. She is always pleasant to speak with.
When I have had an issue arise and couldn't make my payment at that exact time she handled the matter quickly and smoothly. I don't mind talking with her each month. Gentlemen was very clear and concise. To the point without taking much of my time. Very professional and polite. I enjoyed making my payment with him.
He was good in asking if he could help with anything else. He was very helpful in everything I needed help in. Live agent Save Saved. About 21st Mortgage Corporation. Overall Satisfaction Rating 5 stars. Bottom Line 21st Mortgage is a full-service financier that helps those looking to buy a mobile or manufactured home. How do I know I can trust these reviews about 21st Mortgage Corporation? Victoria of Hiram, OH. Read full review. Glenda of Woodstock, AL.
What is 21st Mortgage Corporation? Clayton Properties Group owns 21st Mortgage Corp. Is 21st Mortgage a bank? The company is a full-service lender that works with loans for mobile and manufactured homes. What credit score do you need to finance with 21st Mortgage? There is no minimum credit score in most states. Does 21 Mortgage offer services everywhere? The company provides service in 46 states.
Is 21st Mortgage a good lender? Near the headquarters, two Clayton sales lots sit three miles from each other. Soon after Buffett bought Clayton Homes, he declared a new dawn for the moribund mobile-home industry, which provides housing for some 20 million Americans.
Clayton dealers often sold homes with no cash down payment. Numerous borrowers said they were persuaded to take on outsized payments by dealers promising that they could later refinance.
And the average loan term actually increased from 21 years in to more than 23 years in , the last time Berkshire disclosed that detail. Mansfield had a lousy credit score of , court records show. She had no money for a down payment when she visited Clayton Homes in Fayetteville, N. She secured the loan with two parcels of land that her family already owned free and clear. Within 18 months, she was behind on payments and Clayton was trying to foreclose on the home and land.
Many borrowers interviewed for this investigation described being steered by Clayton dealers into Clayton financing without realizing the companies were one and the same. Sometimes, buyers said, the dealer described the financing as the best deal available. Other times, the Clayton dealer said it was the only financing option. Kevin Carroll, former owner of a Clayton-affiliated dealership in Indiana, said in an interview that he used business loans from a Clayton lender to finance inventory for his lot.
Ed Atherton, a former lot manager in Arkansas, said his regional supervisor was pressuring lot managers to put at least 80 percent of buyers into Clayton financing. Atherton left the company in Among all other mobile-home lenders, fewer than half of their loans met that threshold.
Customers said in interviews that dealers misled them to take on unaffordable loans, with tactics including last-minute changes to loan terms and unexplained fees that inflate loan balances. Such loans are, by definition, predatory. Some borrowers felt trapped because they put up a deposit before the dealer explained the loan terms or, like the Ackleys, felt compelled to swallow bait-and-switch deals because they had spent thousands to prepare their land.
A couple of years after moving into their new mobile home, Kirk Ackley was injured in a backhoe rollover. Unable to work, he and his wife urgently needed to refinance the costly 21st Mortgage loan they regretted signing. They pleaded with the lender several times for the better terms that they originally were promised, but were denied, they said. The Ackleys tried to explain the options to a 21st supervisor: If they refinanced to lower payments, they could stay in the home and 21st would get years of steady returns.
Otherwise, the company would have to come out to their rural property, pull the house from its foundation and haul it away, possibly damaging it during the repossession. Nine Clayton consumers interviewed for this story said they were promised a chance to refinance.
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