Corson County had four mortgages, Dewey County had eleven, Todd County saw nine mortgages, and Ziebach had five. The population of these four counties is 20,000.
Oglala Lakota County, with a population of 13,000, received $475,000 for 29 loans, 18 percent of which was for manufactured homes (MH). Forty percent of the amount was for home improvement loans, but the average financing was $15,500.
Date collected under the Home Mortgage Disclosure Act (HMDA) reveals Ziebach County, where 40 percent of the financing was for MH, saw $556,000 in mortgage finance originations and $194,000 through the secondary market. Nearly half the borrowers were white, although almost three quarters of the residents are Indian who received just over 25 percent of the loans.
Todd County saw the highest amount of loans, $990,000–80 percent was private lending, of which about one-third was for MH. Native Americans comprise 85 percent of the population, received just over half of the loans.
Corson County’s four mortgages in 2014 totaled $326,000, $168,000 of which was non-government lending. Half of the lending was for MH. One third of he lending went to white people, comparable to their make-up of the county.
In Dewey County, $795,000 was loaned with 73.3 percent going to whites who comprise 25 percent of the population. ##
(Photo credit: netnewsledger/Christopher Kat–manufactured home being delivered in the north country)
