ECN Capital Corp. today announced that its wholly-owned subsidiary, Triad Financial Services, Inc., has been approved by Freddie Mac as a qualified mortgage seller and servicer.
“We are thrilled to partner with Freddie Mac in support of its mission to empower homeownership,” Triad President Michael Tolbert said.
“Manufactured housing provides a vital solution to affordable housing in the U.S.,” said Mike Dawson, vice president of strategy and policy for Freddie Mac’s Single-Family Business. “We’re excited to partner with Triad Financial to help increase borrower access to quality, yet affordable homes in markets that have traditionally been underserved for those seeking homeownership.”
Freddie Mac’s CHOICEHome® is an affordable mortgage initiative that offers conventional site-built financing for real-property factory-built homes, that are built to the HUD code and have the features of a site-built home. When a factory-built home meets certain prescribed specifications, it is granted certification and is eligible for CHOICEHome financing.
“This partnership with Freddie Mac will allow Triad to scale its real property lending solutions to help meet the nation’s affordable housing needs,” ECN Capital CEO Steven Hudson said.