Mr Rex
Elite Member
- Joined
- Jan 12, 2004
- Professional Status
- Certified Residential Appraiser
- State
- North Carolina
FHA has never had an issue with on frame mods and IIRC Fannie recently reversed her previous negative issues with on frame mods.
http://www.workingre.com/manufactured-or-modular-home/
SEL-2018-19
On-Frame Modular and Modular Construction To better support affordable and rural housing supply, we are updating policies related to modular homes. On-frame modular homes that comply with local building codes, attached to a permanent foundation, and are built using the same materials as comparable stick-built homes are now an eligible property type. These homes will follow the same eligibility and underwriting criteria as stick-built homes. We are also clarifying that multi-unit buildings such as attached condos and townhomes may be built using modular construction techniques that comply with local building codes. No additional delivery data points are required as a result of these changes. Effective Date Lenders can take advantage of these changes immediately
http://www.workingre.com/manufactured-or-modular-home/
SEL-2018-19
On-Frame Modular and Modular Construction To better support affordable and rural housing supply, we are updating policies related to modular homes. On-frame modular homes that comply with local building codes, attached to a permanent foundation, and are built using the same materials as comparable stick-built homes are now an eligible property type. These homes will follow the same eligibility and underwriting criteria as stick-built homes. We are also clarifying that multi-unit buildings such as attached condos and townhomes may be built using modular construction techniques that comply with local building codes. No additional delivery data points are required as a result of these changes. Effective Date Lenders can take advantage of these changes immediately
