Triad Financial Services Re-certified As An LBP Lender 
Program Focuses On Revitalizing Manufactured Home Lending
October 16, 2003

As an indicator of its commitment to the ongoing importance of the Manufactured Housing Institute’s (MHI) Lender Best Practices Program (LBP), Triad Financial Services, Inc. has been re-certified as an “LBP Lender” as part of the program’s annual re-certification process. LBP Lenders must submit to an annual independent performance audit to verify that their day-to-day practices match their compliance plans. This independent assessment function is performed by an MHI-approved external audit firm, which uses internal audits, regulatory compliance reports and quality control programs to ascertain compliance with LBP. 

The LBP program is a voluntary certification program that lenders involved in manufactured home financing may use to help enhance the integrity of all aspects of the credit transaction. Lenders with the “LBP Lender” designation will be able to demonstrate to their funding sources that they have the appropriate business systems in place. The LBP program, launched by MHI in February 2002, establishes a minimum set of performance standards. A participating lender develops and adheres to a plan that outlines the systems, policies and procedures it has in place to comply with the LBP performance standards. 

“I am proud of the dedicated team members of Triad Financial Services for their tireless efforts to re-certify our company as an LBP Lender,” stated Don Glisson, Jr., president of Triad. “Fortunately for Triad, the LBP standards represent the way we have always conducted our business, but it always helps to go through a rigorous, formal review to validate your quality control process. We fully support MHI in this program, and we would encourage all manufactured housing lenders to seek certification.” 

The LBP performance standards cover the various aspects of the credit transaction, from training of employees, verification of record-keeping systems, written standards for underwriting, collection and foreclosure procedures, monthly loan performance reporting, consumer protection, and other quality-control systems. A summary of the LBP performance standards can be found on MHI’s Web site, www.manufacturedhousing.org. 

“The LBP program establishes a framework for all parties involved in the credit transaction to ensure the integrity of the transaction,” MHI President Chris Stinebert said. “Properly used, this framework will provide the necessary assurances to rating agencies, investment bankers, and others about the quality of the credit being generated by LBP Lenders. We are very encouraged that Triad Financial Services believes in the program and has been re-certified.” 

Triad Financial Services, Inc. is a full-service manufactured home finance company headquartered in Jacksonville, Florida with regional offices in Bourbonnais, Illinois, and Houston, Texas.