FHA Single Family Housing Policy Handbook 4000.1, II. ORIGINATION THROUGH POST-CLOSING/ENDORSEMENT > D. Appraiser and Property Requirements for Title II Forward and Reverse Mortgages > 6. Condominium Projects — d. Manufactured Housing Condominium Projects
HUD effective date: 09/14/2015 · section II.D.6 · Handbook 4000.1
FHA Single Family Housing Policy Handbook 4000.1, Part II — d. Manufactured Housing Condominium Projects (09/14/2015).
Verbatim regulatory text
Verbatim provisions from FHA Single Family Housing Policy Handbook 4000.1, II. ORIGINATION THROUGH POST-CLOSING/ENDORSEMENT > D. Appraiser and Property Requirements for Title II Forward and Reverse Mortgages > 6. Condominium Projects — d. Manufactured Housing Condominium Projects — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
FHA Single Family Housing Policy Handbook 4000.1, Part II — d. Manufactured Housing Condominium Projects (09/14/2015)
d. Manufactured Housing Condominium Projects (09/14/2015) i. Standard Individual Manufactured Housing units in Condominium Projects are eligible for FHA insurance, on both HECM and forward Mortgages. ii. Required Analysis and Reporting The Appraiser must report the appraisal on Fannie Mae Form 1004C/Freddie Mac Form 70B, Manufactured Home Appraisal Report. In addition to the requirements for analysis and reporting of the Manufactured Home, the Appraiser must inspect the Condominium Project and provide the project information data as an addendum to the appraisal report. Required data includes all data elements as found in the Project Information Section of Fannie Mae Form 1073/Freddie Mac Form 465, Individual Condominium Unit Appraisal Report. 7. Valuation of Leasehold Interest a. Definitions (09/14/2015) Leasehold Interest refers to real estate where the residential improvements are located on land that is subject to long-term lease from the underlying fee owner, creating a divided estate in the Property. Ground Rent refers to the rent paid for the right to use and occupy the land. Improvements made by the ground lessee typically revert to the ground lessor at the end of the lease term.
Operationalizing FHA Single Family Housing Policy Handbook 4000.1, II. ORIGINATION THROUGH POST-CLOSING/ENDORSEMENT > D. Appraiser and Property Requirements for Title II Forward and Reverse Mortgages > 6. Condominium Projects — d. Manufactured Housing Condominium Projects
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Source of record: https://claudeforcompliance.com/regs/hud-4000-1-ii-d-manufactured-housing-condominium-projects/
· register hud-4000-1-ii-d-manufactured-housing-condominium-projects · Claude for Compliance. Free to read and download;
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