New Construction of a Manufactured Home
When the mortgage loan funds the construction of a new manufactured home, construction must be complete when the loan is purchased (or securitized) by Fannie Mae. As a reminder, if construction is completed after the first payment date of the subject loan, the loan may be subject to the property value requirements (loans more than four months old at time of purchase) or seasoned loan requirements in B2-1.5-02, Loan Eligibility.
For additional information, see B5-2-03, Manufactured Housing Underwriting Requirements