Origen Financial Inc
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Origen Financial is a real estate investment trust that concentrates on the manufactured housing financing sector of the real estate market. It is internally managed and internally advised. It was incorporated in July 2003. Its corporate headquarters are in Southfield Michigan.
Origen Financial Manufactured Housing Financing
Origen currently trades on the NASDAQ exchange under the stock symbol ORGN, having begun May 6, 2004. However, in December 2008 it announced plans to delist itself from the exchange and deregister its common stock with the Securities and Exchange Commission. J. Peter Scherer is the President and Head of Operations. It was named the Outstanding Lender of 2007.
Origen manages a portfolio of about $1 billion in loans using manufactured homes as assets. It is no longer originating or servicing loans. However, its default ratio is below the industry average so it is performing well despite the subprime mortgage loan crisis.
As a REIT, Origen future is apparently in doubt, and its stock is not going to be available.
Next: RAIT Financial Trust -- financing for commercial real estate owners and investors
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