As a quick follow-up to yesterday's email newsletter, Champion Enterprises announced this morning that they are discontinuing operations at HomePride Finance Corporation, their manufactured housing loan origination company formed in 2002 by then President Walt Young. Al Koch, Chairman, President and CEO of Champion said: "As part of our ongoing comprehensive review of our operations and strategy, we determined that exiting the consumer loan origination business is in the company's best interest. The current environment for manufactured housing consumer lending has made it increasingly difficult for us to derive value from this operation."

Champion started HomePride in 2002 following it's acquisition of the CIT Group's manufactured housing loan origination business. Champion is the parent company of Champion Homes, Silvercrest Homes, Moduline, Redman, Genesis and numerous other brand names, as well as retailers Lamplighter Homes and Homes America.
You can look at this two ways.....either good news or bad. Personally, I think its a prudent move on Champion's part and will have little effect on their sales or the industry's overall health.

Greg Harmon - President
Commonwealth Real Estate Services
E-mail: greg@cwres.com
Telephone 503.244.2300 Ext. 101