Wells Fargo & Co. has been named the Manufactured Housing Institute's (MHI) 2010 Community Lender of the Year. MHI presented the award April 14 at the 2010 National Congress and Expo for Manufactured and Modular Housing in Las Vegas.
‘Wells Fargo Multifamily Capital has been honored for its excellence in manufactured home community lending and its significant contributions to the manufactured housing industry,’ said Thayer Long, executive vice president of MHI.
The MHI Lender of the Year honor is awarded annually and decided by MHI members; each member or company receives one vote. In preparing to cast a vote, members evaluate nominees' experience, as well as their contributions to the industry and to the manufactured housing state associations.
"At Wells Fargo, we are committed to serving the needs of our customers and providing them with very affordable resources and best overall terms for their properties," said Tony Petosa, a Wells Fargo Multifamily Capital senior vice president who is based in Carlsbad, Calif.
Wells Fargo Multifamily Capital finances manufactured home communities nationwide through its Fannie Mae program and also its direct lending program. Wells Fargo has originated over $4.3 billion in manufactured home community loans since 2000.