San Antonio Federal Credit Union in Texas has acquired Mountainside Financial, a broker for mobile and manufactured home lending.
Mountainside has been added to SACU's CU Factory Built Lending division, which provides loans to owners in communities who wish to build on private land. The acquisition was announced Monday; financial terms were not disclosed.
The manufactured housing market has struggled for several years, with many mortgage bankers unwilling to extend credit or asking for hefty down payments.
SACU is a $2.8 billion credit union, with 19 locations in San Antonio and one location in Houston. Mountainside has offices in Aurora, Colo., and Fairfax, Vt.