1973 Mobile-- Modular or Manufactured Which form to use

[Vermonter]

I do probably a dozen non-qualifying manufactured/mobile home/frankentrailer appraisals per year for two local clients. Loans are held in house and I use the GP form which give you the most flexibility. All the major software providers have them and lenders don't care. They just want the value.

Aside from being potentially misleading, using the 1004C is just more difficult to modify for these types of assignments and not the best choice.

 

[sputnam]

None of the cited cases had anything to do with using an appraisal form that wasn't the best choice.... and THAT was the topic of discussion.

 

[redfish]

When HUD standardized the specifications for a home built in a factory on a chassis that is then transported to the site, it commandeered, for its own use in perpetuity, the term "manufactured home" to mean a factory built home that was built to HUD specs. To many "exeperienced" factory built home appraisers use the term "manufactured" haphazardly.

 

[Sadie]

I think calling them trailer houses is now not an approved term.

 

[Carnivore]

Maybe this whole thread should have started with citing sources first. i,e

B2-3-02, Special Property Eligibility and Underwriting Considerations: Factory-Built Housing (10/04/2023)

selling-guide.fanniemae.com

https://sf.freddiemac.com/faqs/manufactured-housing-FAQ

Freddie Mac Single-Family Seller/Servicer Guide

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