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#2247075 - 12/31/20 05:39 PM Manufactured Home
Susan Offline
Joined: Jun 2003
Posts: 70
South Dakota
Hello, We have a loan to purchase mobile home park, no homes. We are reporting it with Construction Method of Manufactured Home.

I have found guidance that in this case the Manufactured Home Secured Property Type will be NA. But, I have not found any guidance pertaining to Manufactured Home Land Property Interest. We are debating between Direct Ownership and NA.

Does anyone have experience with this?

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#2247078 - 12/31/20 06:48 PM Re: Manufactured Home Susan
Inherent_Risk Offline
Gold Star
Joined: Jan 2017
Posts: 307
We do NA for both, as both are under 1003.4(a)(30). A MH community is only manufactured housing for purposes of 1003.4(a)(5) - Construction Type.

The commentary also notes:
1003.4(a)(30) - 4. Manufactured home community. A manufactured home community that is a multifamily dwelling is not considered a manufactured home for purposes of ยง 1003.4(a)(30).

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