Appraisal of Manufactured Homes
This course, developed in collaboration with Freddie Mac, provides an in-depth look into preparing appraisals for traditional manufactured homes plus insight into CHOICEHomeSM—the new type of high-quality manufactured homes that are built to HUD code but developed with site-built features. You’ll learn how to meet the specific requirements of Freddie Mac, the Federal Housing Authority (FHA), Veteran’s Administration (VA), United States Department of Agriculture (USDA) and Fannie Mae using a new, ground-breaking tool—the Manufactured Home Quality Rating Worksheet – which is consistent with the Marshall & Swift®—CoreLogic Residential Cost Handbook and the Uniform Appraisal Dataset (UAD).
Identify the multiple types of factory-built housing including manufactured home, Next Generation manufactured home, modular home, and panelized home.Recognize the distinctive construction qualities of manufactured homes and how they differ from site-built homes.Understand the specific secondary market appraisal requirements of Freddie Mac, FHA, USDA, VA, and Fannie Mae.Understand proper data collection techniques for manufactured housing.Develop an overall quality rating for manufactured homes using the Manufactured Home Quality Rating Worksheet.Report accurate results of a manufactured housing appraisal on a Freddie Mac Form 70B (FNMA form 1004C).Develop the cost approach for both a manufactured home and a Next Generation manufactured home using the Marshall & Swift®—CoreLogic Residential Cost Handbook.Use the sales comparison approach for a manufactured home appraisal and apply new techniques when appraising a Next Generation manufactured home.
