Loan to purchase M.H. Park (land & mobile homes); is in flood zone. Insurance policy has peril of flood coverage included, but, has list of mobile homes on one policy. Is this acceptable with examiners, or do we need to require a separate policy for each mobile home in accordance with the FEMA manual instructions for multiple buildings & mobile homes?

I am assuming the insurance policy referred to is a Flood insurance policy.

Question: Are the Mobile homes on a permanent foundation and anchored? If yes insurance is required on each structure.

I believe you would need a separate policy for each structure.

I have been told by two other compliance consultants that both ways are acceptable as evidence of insurance, as long as the individual VALUE of each mobile home is listed separately. Has anyone else had a similar scenario reviewed or examined recently?

Mobilehome flood insurance can be an oddity. They are often included on a hazard policy. Whether that's okay on a commercial multi-home situation, I'm really not sure.