Bulletin W13-052 - Launch of Manufactured Homes on FHA and VA Product Offerings

Topic included in Bulletin W13-052:

• Launch of Manufactured Homes on FHA and VA Product Offerings
• Highlights of the program are:
  • Availability on Standard FHA, FHA Streamline, Standard VA and VA IRRRLs
  • Must be permanently affixed to the foundation and taxed as real property
  • Property must be completed; proposed construction and under construction loans are not allowed
  • Property must meet HUD guidelines
  • Properties built after 1992 are eligible; prior to 1992 ineligible
  • No additions; modifications or relocation allowed
  • No appraisal required for Streamlines and AVMS for VA IRRRLs
• Program codes remain the same, however, it is necessary that the correct Property Type is entered in Data Trac
  • Property Code:  MANUF HOME
• Program is available on Monday, June 3, 2013
• Guidelines and matrices have been updated and are published on the Intranet
• FHA Underwriting Guidelines link:  http://carringtonhome.corp.int/Corporate%20Document%20Library/Underwriting%20Guidelines%20(FHA%20Loans).pdf
• FHA Conforming and High Balance Matrix link:  http://carringtonhome.corp.int/Corporate%20Document%20Library/CMS%20FHA%20Conforming%20and%20High%20Balance%20Matrix.pdf
• FHA Streamline – Wholesale Matrix link:  http://carringtonhome.corp.int/Corporate%20Document%20Library/CMS%20FHA%20Streamline%20Matrix-Wholesale.pdf
• Website updated

Download: Bulletin - W13-052 (PDF)