Origen Financial, Inc. is an internally-managed and internally advised company specializing in the manufactured housing finance business that has elected to be taxed as a real estate investment trust ("REIT").
Although no longer originating or servicing loans, we continue to manage an existing portfolio of approximately $500 million of manufactured housing loans and asset backed securities. These loans were originated in the highest credit quality sectors of the manufactured housing finance industry using our proprietary credit scoring system and fully documented underwriting information.
Loan performance to date has resulted in lower than average default and delinquency rates and higher than average recovery rates compared to the manufactured housing industry as a whole. Despite the recent turmoil in the housing markets, our portfolio continues to perform well.