ECN Capital

What ECN Capital does

ECN Capital Corp. is a Canadian specialty consumer finance company that originates, manages, and services secured consumer loan portfolios on behalf of a network of 100+ North American financial institution partners (institutional investors, insurance companies, pension plans, banks, and credit unions). The company historically operated through four wholly-owned subsidiaries: Triad Financial Services (manufactured housing finance, founded 1959, licensed in 47 states), Source One Financial (marine & RV lending, licensed in 47 states), Intercoastal Financial Group (marine & RV lending, described as the world's largest correspondent recreational lender), and Paramount Servicing Group (KBRA-approved private-label consumer loan servicing). The platform originates long-duration manufactured housing loans (average ~$70,000, ~96 months duration, average FICO 750+) and mid-duration marine & RV loans (~$50,000, ~48 months) through long-established dealer and manufacturer networks, supplemented by Triad's floorplan financing for manufactured housing dealers.

The technology stack centers on consumer loan origination, portfolio management, and servicing capabilities, including a Fitch-rated servicing department for manufactured housing and Paramount Servicing Group's best-in-class servicing technology with private labeling. Q1 2026 metrics indicate US$665.1M in originations and US$7.5B in managed/advised earning assets, alongside US$29.7M in quarterly EBITDA. ECN Capital generates revenue through origination fees, net interest income on retained loan interests, recurring servicing fees from third-party portfolio owners, and floorplan financing income, pursuing a partnership-led go-to-market that works alongside financial institutions rather than competing with them.

In April 2026, an investor group led by Warburg Pincus LLC and Goodview Capital Corp. acquired ECN Capital at C$3.10 per share for an enterprise value of approximately C$1.9 billion, taking the company private and reorganizing it under Delaware law. Concurrent with closing, the company distributed its RV and Marine Finance business segment (Source One Financial and Intercoastal Financial Group, approximately 20% of consolidated revenue) and refocused the go-private entity on manufactured housing finance through Triad Financial Services, with Lawrence Krimker of Goodview Capital assuming the CEO role.

Name

ECN Capital

Legal name

ECN Capital Corp.

Website

http://www.ecncapitalcorp.com/

Company type

Public

Founded year

2016

Operating status

Acquired

Headcount range

501–1,000 employees

Short description

ECN Capital is a Canadian specialty consumer finance company that originates and services manufactured housing and marine/RV loan portfolios through dealer networks on behalf of 100+ financial institution partners via four subsidiaries.

Ownership category

akta.pro rank

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Loan Origination and Portfolio Management: ECN Capital originates and manages secured consumer loan portfolios including manufactured housing loans and marine & RV loans. The company generates revenue through origination fees, net interest income on retained loan interests, and servicing fees from financial institution partners.
2. Servicing Revenue: Triad Financial Services' Fitch-rated servicing department manages manufactured housing loan portfolios on behalf of third-party owners, generating recurring servicing fee revenue. Paramount Servicing Group services consumer loans for various clients with private labeling capabilities.
3. Floorplan Financing: Triad Financial Services provides floorplan financing for manufactured housing dealers and manufacturers, generating interest income and fees.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

ECN Capital originates and manages secured consumer loan portfolios on behalf of a network of 100+ financial institution partners, operating through four market-leading businesses. Triad Financial Services provides manufactured housing loans; Source One Financial and Intercoastal Financial Group originate prime and super-prime consumer loans for the recreational vehicle and marine industries; and Paramount Servicing Group delivers end-to-end consumer loan servicing with private-label capabilities.

Product overview

ECN Capital operates as a financial services provider with four distinct business units: Triad Financial Services (manufactured home lending), Source One Financial (Marine & RV lending), Intercoastal Financial Group (Marine & RV lending), and Paramount Servicing Group (loan servicing). The company originates, manages, and advises on credit assets—primarily secured consumer loan portfolios in manufactured housing and marine & RV finance—on behalf of its network of 100+ financial institution partners. The product offering includes long-duration manufactured home loans (~96 months, ~$70,000 average) and mid-duration marine & RV loans (~48 months, ~$50,000 average).

Differentiator

Problem solved

Functional benefit

Brands

• Triad Financial Services: Manufactured housing finance company, oldest in the U.S. (founded 1959), providing consumer loans for manufactured home purchases through partnerships with vendors and manufacturers.
• Source One Financial
• Intercoastal Financial Group
• Paramount Servicing Group
• Paramount Capital Group

Products and services

• Triad Financial Services Premier portfolio solutions platform originating and managing longer-duration secured consumer loan portfolios for manufactured home purchases through partnerships with vendors and manufacturers, with a Fitch-rated servicing department. Provides floorplan financing for dealers and manufacturers.
• Source One Financial Established provider of prime and super-prime consumer lending programs and outsourced finance and insurance solutions for the recreational vehicle and marine industries, originating loans through established dealer networks nationwide.
• Intercoastal Financial Group Premier provider of consumer lending programs to the recreational vehicle and marine industries, originating prime and super-prime loans through a nationwide sales representative network.
• Paramount Servicing Group End-to-end consumer loan servicing company with private labeling capabilities, mature compliance management system, and approved servicer status by Kroll Bond Rating Agency (KBRA). Fully licensed for consumer loan and installment contract servicing across the U.S.

Quantifiable outcome

• $19 billion in originated credit portfolios
• +3 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered minor and core.

• Freddie MacminorStrategic or Co-development Partner · 1 June 2020ECN Capital and Freddie Mac partnered to provide affordable housing solutions, leveraging Triad Financial Services' manufactured housing lending capabilities.
• 100+ North American Financial InstitutionscoreChannel Partner/ Reseller/ DistributorECN Capital partners with 100+ North American-based institutional investors, insurance companies, pension plans, banks and credit unions. Partners are decision makers seeking optimal portfolio solutions to match customer deposits, term insurance and other liabilities.

Scale indicators7 records

Recent moves14 records

Expansion highlights5 records

Direct peers

• OneMain Holdings: OneMain Holdings is the largest U.S. installment lender to non-prime consumers, directly comparable to ECN's secured consumer lending model in offering fixed-term, fixed-payment personal credit products through a decentralized branch and digital distribution network.
• 21st Mortgage Corporation: 21st Mortgage is a wholly-owned subsidiary of Clayton Homes (Berkshire Hathaway) and is the largest manufactured housing lender in the U.S. It directly competes with Triad Financial Services in originating and servicing MH loans through dealer networks with similar long-duration, secured consumer loan economics.
• Enova International: Enova International is a specialty consumer finance company offering installment loans and lines of credit to non-prime consumers online. It competes in the broader non-bank consumer credit market in which ECN's secured MH and marine/RV loans also operate.
• Finance of America Reverse: Finance of America is a specialty consumer mortgage lender focused on reverse mortgages and home equity products serving the same demographics and dealer-style retail distribution that ECN's manufactured housing platform targets.
• Regional Management Corp. Regional Management is a consumer installment lender serving near-prime borrowers through a branch network, comparable to ECN's specialty consumer credit products in loan size, duration, and customer profile.
• NewRez (Shellpoint Mortgage Servicing): NewRez is a non-bank mortgage originator and servicer with both origination and servicing capabilities, comparable to ECN's combination of Triad origination and Paramount Servicing operations across consumer residential lending.
• Cascade Financial Services: Cascade Financial Services is a manufactured housing lender co-founded by Cody Pearce (now Co-CEO of ECN's Triad). It operates as a direct peer to Triad in originating chattel and real property MH loans through dealer networks.

Broad incumbents

• Rocket Companies: Rocket Companies is the largest U.S. retail mortgage originator and servicer with a broad consumer lending platform. It overlaps with ECN's mortgage origination and servicing capabilities at Paramount Servicing Group as a large-scale, technology-driven player in adjacent consumer credit.
• Berkshire Hathaway (Clayton Homes): Clayton Homes, a Berkshire Hathaway subsidiary, is the largest U.S. manufactured home builder and through 21st Mortgage controls the dominant MH captive finance platform, representing the most important incumbent competitor to ECN's Triad business across both homebuilding and lending.

Others

• Skyline Champion (Champion Financing JV partner): Skyline Champion is one of the largest U.S. manufactured housing OEMs and a 19.84% strategic shareholder of ECN via the Champion Financing joint venture. It is both a major customer/channel partner and a competitive threat if it expands captive finance capabilities beyond Champion Financing.

Market position

Strengths5 records

Weaknesses2 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInca.linkedin.com/company/ecn-capital

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries5 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ECN Capital