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Wells Fargo
Named Manufactured Housing Community Lender of the Year
for 2007
April 13, 2007: 10:06 AM EST
SAN FRANCISCO, April 13 /PRNewswire-FirstCall/ -- Wells
Fargo & Company has been named the Manufactured Housing
Community Lender of the Year for 2007 by the
Manufactured Housing Institute (MHI). MHI presented
this National Industry Award to Wells Fargo during the
2007 National Congress and Expo for Manufactured and
Modular Housing in Las Vegas on April 11. Wells Fargo
Commercial Mortgage specializes in lending to the
manufactured housing community sector, offering
borrowers both direct lending programs and
well-established correspondent lending
relationships. Wells Fargo Commercial Mortgage has
originated $2.5 billion in manufactured housing
community loans since 2004. "We are extremely proud of
this achievement," said Creighton Weber, a Wells Fargo
Commercial Mortgage regional director who is based in
Troy, Michigan. "We would especially like to thank our
clients for their continued support over the last 20
years. It has been our honor and privilege to serve
them. We look forward to working with them for the next
20."
Wells Fargo Commercial Mortgage offers portfolio and
conduit programs for manufactured housing communities
nationwide, with loan sizes $1 million and above.
Options include fixed or variable rates, early rate
lock, and term length of three to 10 years, with longer
maturities available. Typically, loans are closed within
40 to 60 days from receipt of a complete application.
Wells Fargo Commercial Mortgage is a diverse lender and
strives to offer programs that suit the needs of
developers and investors. "Wells Fargo offers the most
comprehensive selection of loan programs available from
a single source," said Tony Petosa, a Wells Fargo
Commercial Mortgage regional director who is based in
Carlsbad, California. "Our programs include portfolio,
conduit, and Fannie Mae Delegated Underwriting and
Servicing loan programs," he said.
Wells Fargo is a national leader in commercial real
estate with more than $50 billion in originations
annually and 50 offices nationwide. Wells Fargo
provides a broad spectrum of lending, servicing,
advisory, intermediary, and structured solutions to
investors, developers, and public companies in the
commercial real estate sector. Wells Fargo & Company is
a diversified financial services company with $482
billion in assets, providing banking, insurance,
investments, mortgage and consumer finance through more
than 6,000 stores and the internet (http://www.wellsfargo.com)
across North America and internationally. Wells Fargo
Bank, N.A. is the only bank in the U.S., and one of only
two banks worldwide, to have the highest credit rating
from both Moody's Investors Service, "Aaa," and Standard
& Poor's Ratings Services, "AAA." |
