A manufactured home project is a project consisting partially or solely of manufactured homes.
Lenders must obtain Fannie Mae’s project acceptance for the following projects if they are composed of manufactured homes:
- Any condo project — Both the land and the dwelling must be subject to the condo association.
- Any co-op project — Both the land and the dwelling must be owned by the co-op corporation.
- Any PUD project composed of single-width manufactured homes.
Project Review Methods
The characteristics that dictate which method to use are shown in the following table.
|Unit and Project Type||Project Review Methods|
|Multi-width manufactured home in an established condo project||Full Review|
||Fannie Mae Review through the standard PERS process|
|Established condo or PUD projects consisting of manufactured homes that are subject to a community land trust, deed restriction, leasehold estate, or shared equity arrangement||Fannie Mae Review through the streamlined PERS process|
For more information, see B5-2-01, Manufactured Housing and B4-2.1-01, General Information on Project Standards.