Nations Lending makes more manufactured-home and government-backed loans than most similar lenders: 10.9% of its 6,568 loans in 2025 were on manufactured homes, a higher share than almost all of them.
Manufactured homes and government-backed loans
Manufactured homes made up 10.9% of its loans, against 1.9% at similar lenders (independent non-bank lenders making between half and twice as many loans). FHA loans (insured by the Federal Housing Administration) were 29.3%, against 24.9%, VA loans (guaranteed by the Department of Veterans Affairs) 11.2%, against 7.6%, and RHS loans (guaranteed by the Department of Agriculture's Rural Housing Service) 1.1%, against 0.6%. Its typical loan was $265,000, against $315,000.
More loans to LMI borrowers
It made 36.6% of its loans to LMI (low- and moderate-income) borrowers, against 28.7%, more than about four in five similar lenders. Its share in LMI areas, 20.7%, was near the middle. In majority-minority areas its share was 21.6%, against 25.1%, possibly reflecting where it lends most: its main state is Wisconsin.
Prices in line with peers
Its typical rate, 6.62%, matched similar lenders', and its higher-priced share (a rate well above the average for similar loans) was 3.0%, against 3.1%, down from 5.0% the year before. Its denial rate on home-purchase applications was 2.9%, against 4.7%.
Flat volume, small gains in St. Louis and Las Vegas
Originations rose 1%, against 14% for similar lenders and 10% for the whole market, and remain below the 19,385 it made in 2021. Its share rose to 0.5% from 0.4% in St. Louis, where it ranked 44 of 637, and to 0.4% from 0.3% in Las Vegas-Henderson-North Las Vegas.
Questions the data can answer next
How are its manufactured-home loans spread across counties and loan types?
Similar lenders: same lender type, originations between half and twice the lender's in the data year.
Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
6,568 loans in 2025, against a peak of 19,385 in 2021.
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Nations Lending took 8,177 applications in 2025.
69.0% of its 2025 loans were purchase loans; 58.4% were Conventional.
Purchase 69.0% · Refinance 31.0% Conventional 58.4% · FHA 29.3% · VA 11.2% · USDA (RHS or FSA) 1.1% · of 6,568 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
48 states, 316 metros, 1,051 counties
State
Loans
Share
Wisconsin
943
14.4%
Texas
709
10.8%
Ohio
658
10.0%
Arizona
564
8.6%
Missouri
385
5.9%
Oregon
304
4.6%
Indiana
252
3.8%
Nevada
222
3.4%
Illinois
210
3.2%
Mississippi
209
3.2%
Largest metro areas, 2025
Loans originated
Metro area
Loans
Phoenix-Mesa-Chandler
372
St. Louis
366
Houston-Pasadena-The Woodlands
307
Memphis
220
Cleveland
203
Las Vegas-Henderson-North Las Vegas
203
Milwaukee-Waukesha
192
Grants Pass
163
Chicago-Naperville-Schaumburg
150
Green Bay
150
Identifiers
LEI (Legal Entity Identifier, the global company code HMDA has used since 2018)
254900WEP08K7U7S3A80
2018–2025
RSSD (the Federal Reserve's identifier for banks and their parents)
4183684
2010–2023
Respondent ID (the HMDA filer code before 2018)
7770605392
Established 25 July 2003. Reported under HMDA 2009-2025.
Nations Lending and its peers, 2018–2025: every application in the HMDA data, cleaned and corrected, as Parquet files, with the Jenner programs that made these pages.
Every mortgage application reported under HMDA from 1990 to 2025, cleaned and corrected, every lender followed across name changes and mergers, with the market-share and fair-lending tables behind these pages and the Jenner programs that built them: the warehouse and the datamart, as Parquet files.
Jenner runs programs written in the SAS language. It drew every chart on these pages and fitted the fair-lending model, PROC GLIMMIX on 3.5 million applications. Run the programs that come with the data, or your own.