# Legacy Housing > Mediated Wiki article. Canonical URL: https://mediated.wiki/source/Legacy_Housing > Markdown URL: https://mediated.wiki/source/Legacy_Housing.md > Source: https://en.wikipedia.org/wiki/Legacy_Housing > Source revision: 1283187219 > License: Creative Commons Attribution-ShareAlike 4.0 International (https://creativecommons.org/licenses/by-sa/4.0/) {{Short description|Mobile Home Manufacturer Based In Texas}} {{Infobox company | name = Legacy Housing Corporation | type = [Public company](/source/Public_company) | traded_as = {{NASDAQ|LEGH}}} | industry = Construction, Manufacturing | founded = {{start date and age |2005|05 }} | hq_location_city = [Bedford, Texas](/source/Bedford%2C_Texas) | hq_location_country = [United States](/source/United_States) | area_served = [Southern United States](/source/Southern_United_States){{cite web | url=https://apnews.com/press-release/globe-newswire/business-human-welfare-corporate-news-social-affairs-affordable-and-low-income-housing-6f24c1c400ae744a06d704cf462c82ec | title=Legacy Housing Corporation Reports Amended 2020 Second Quarter Results | publisher= Associated Press}} | key_people = {{Unbulleted list |Curtis D. Hodgson ([Chairman of the Board](/source/Chairman)) |Kenneth E. Shipley ([President](/source/President_(corporate_title)) & [CEO](/source/Chief_executive_officer))}} | products = Mobile homes | num_employees = 800 | num_employees_year = 2020 | website = {{URL |https://legacyhousing.com/ }} }} '''Legacy Housing Corporation''' is an American [mobile home](/source/mobile_home) manufacturer based in [Bedford, Texas](/source/Bedford%2C_Texas). They have manufacturing facilities in [Commerce, Texas](/source/Commerce%2C_Texas), [Fort Worth, Texas](/source/Fort_Worth%2C_Texas), and [Eatonton, Georgia](/source/Eatonton%2C_Georgia). Legacy also directly sells homes through 13 retail stores and funds loans for their homes. The company has approximately 800 employees. As of 9 December 2020, Legacy Housing Corporation had a market capitalization of over $361 million.{{Cite web|last=|first=|date=|title=Legacy Housing Corporation Common Stock (TX) (LEGH)|url=https://www.nasdaq.com/market-activity/stocks/legh|archive-url=|archive-date=|access-date=|website=NASDAQ}} == History == Legacy Housing was founded in 2005 by Curtis Drew Hodgson (Chairman of the Board) and Kenneth E. Shipley (President and CEO) as Legacy Housing, Ltd.{{Cite web|title=LEGH {{!}} Legacy Housing Corp. Company Profile & Executives - WSJ|url=https://www.wsj.com/market-data/quotes/LEGH/company-people|access-date=2020-12-09|website=www.wsj.com}} It is traded on [NASDAQ](/source/NASDAQ) as LEGH, after an IPO on December 14, 2018. The company [repurchased](/source/stock_buyback) over $3 million in stock in April 2019. In 2019 the company's gross revenue was $169 million, versus $162 million in 2018. Approximately half of their sales are in Texas. Their consumer ([chattel](/source/Chattel_mortgage)) loan portfolio was worth $105 million at an average APR of 14%. They also had $92.3 million in manufactured home park loans at variable rates, typically 4% over prime.{{Cite web |title=Legacy Housing Corporation Reports Fourth Quarter and Fiscal Year 2019 Results {{!}} Legacy Housing Corporation |author= |work=Legacy Housing Corporation |date= |access-date=28 April 2020 |url= https://investors.legacyhousingcorp.com/news-releases/news-release-details/legacy-housing-corporation-reports-fourth-quarter-and-fiscal}} In 2018–2019, Legacy acquired five plots of land to develop into manufactured home communities, including 400 acres near [Austin, Texas](/source/Austin%2C_Texas) for $4.4 million in April 2018. During the [COVID-19 pandemic](/source/COVID-19_pandemic), in April 2020, Legacy announced a $25 million addition to their credit line, then announced receiving $6.5 million in federally backed small business loans as part of the [Paycheck Protection Program](/source/Paycheck_Protection_Program). The company received scrutiny over this loan, which was aimed at small businesses.{{Cite web |title=Large, Troubled Companies Got Bailout Money in Small-Business Loan Program |author= |work=[The New York Times](/source/The_New_York_Times) |date= |access-date=28 April 2020 |url= https://www.nytimes.com/2020/04/26/business/coronavirus-small-business-loans-large-companies.html}}{{Cite web |title=Legacy Housing Corporation Announces New Credit Facility {{!}} Legacy Housing Corporation |author= |work=Legacy Housing Corporation |date= |access-date=28 April 2020 |url= https://investors.legacyhousingcorp.com/news-releases/news-release-details/legacy-housing-corporation-announces-new-credit-facility |quote=Legacy Housing Corporation Announces New Credit Facility }}{{Cite web |title=SEC Filing 10-K - Legacy Housing Corporation |author= |work=investors.legacyhousingcorp.com |date= |access-date=28 April 2020 |url= https://investors.legacyhousingcorp.com/node/7106/html}}{{Cite web |title=SEC Filing 8K - Legacy Housing Corporation |author= |work=investors.legacyhousingcorp.com |date= |access-date=28 April 2020 |url= https://investors.legacyhousingcorp.com/node/7131/html}} Legacy Housing returned the loan a day after the [New York Times](/source/The_New_York_Times) story broke.{{Cite web |title=Publicly traded Bedford tiny house maker returns $6.5 million PPP loan |author= |work=Dallas News |date= |access-date=29 April 2020 |url= https://www.dallasnews.com/business/real-estate/2020/04/27/publicly-traded-bedford-tiny-house-maker-returns-65-million-ppp-loan/ |quote=CEO Kenny Shipley said the company made the “difficult decision to return the funds” based on new guidance from the U.S. Small Business Administration that requires companies to return the money if they had alternate sources of capital. }} ==References== {{reflist}} ==External links== * {{official|https://legacyhousingusa.com/}} Category:Manufactured home manufacturers --- Adapted from the Wikipedia article [Legacy Housing](https://en.wikipedia.org/wiki/Legacy_Housing) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Legacy_Housing?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.