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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.
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II. ORIGINATION THROUGH POST-CLOSING/ENDORSEMENT D. Appraiser and Property Requirements for Title II Forward and Reverse Mortgages
7. Valuation of Leasehold Interest