Priority Funding LLC of Northborough has purchased the assets of Forward National Co., a subsidiary of The Milford National Bank and Trust Co.

Both companies specialize in mobile and manufactured home financing and insurance. Terms of the deal were not disclosed.

Priority Funding LLC works with client lenders throughout New England to offer customers mobile and manufactured home loans, particularly loans for homes located on leased land.

Included in the assets were all rights to the name Forward National Co. As a result, Priority Funding will be conducting business under Priority Forward Funding in the various lending geographies that it serves.

"We are very excited about this acquisition. The Forward name has been a fixture in the finance business since the mid 1970’s. This acquisition will serve to give Priority Funding a greater presence in the manufactured housing finance industry," said Chris Schofield, president of Priority Funding.