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Home > Analysis and Commentary, Canada, Finance, loans, Manufactured Homes, Manufactured Housing Industry, research, Stocks > Triad Financial Service’s Parent Company, ECN Capital – First Data Report

Triad Financial Service’s Parent Company, ECN Capital – First Data Report

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ECN Capital, the new parent company for Triad Financial Services, has reported year-over-year growth of 14.4 percent in 2017, vs. 2016.

 

That translates into some $466 million in loans.

ECN CapitalTriadUpdateBalanceSheetQ42017DaiyBusinessNewsMHProNewsECN CapitalTriadUpdate2BalanceSheetQ42017DaiyBusinessNewsMHProNews

Triad formally closed their deal with ECN on December 29, 2017.

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The significance for manufactured housing is this. Unlike some lenders that are focused on ‘buying deep’ – meaning making loans on lower FICO scores – Triad has historically been an “A” paper lender. The profile of the Triad buyer is more like the credit profile of a conventional site-built home.

ECN CapitalConsolidatedBalanceSheetQ42017DaiyBusinessNewsMHProNews

Per ECN’s investor Relations website.

KEY HIGHLIGHTS Q4-2017 FINANCIAL RESULTS

  • Triad acquisition closed on December 29, 2017
  • Manufactured Housing (“MH”) industry experiencing increasing orders as consumers recognize the affordable alternative versus site-built
  • Origination projections reflect continued organic growth pace
  • Successfully launched on balance sheet floorplan program in January
  • 19 manufacturers/dealers quickly on board with applications following
  • 2018 guidance for on-balance sheet floorplan funding expected to meet or exceed
  • Actively engaged to implement additional plans to enhance growth
  • Growing servicing penetration
  • Tuck-in MH portfolio opportunities building ($10 mln portfolio purchase in process)
  • Offering complimentary financing products through existing dealer network (i.e. insurance)

The full ECN report is linked here as a download.   ## (News, analysis and commentary.)

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SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.

Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.


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