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HPML Appraisal Exemptions – Manufactured Home

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  • #3876
    kowsley
    Keymaster

    What is the difference according to the Appraisal Rules between a manufactured home and a mobile home? I found the following:

    A manufactured home under the Reg. Z Appraisal Rules follows the same meaning as defined by 24 CFR 3280.2. This states that a manufactured home means a structure transportable in one or more sections that meet certain length and width requirements (8 ft or more in width or 40 feet or more in length or is 320 more square feet when erected on-site), is built on a permanent chassis and designed to be used as a dwelling with or without a permanent foundation when connected to the required utilities, and includes the plumbing, heating, air conditioning, and electrical systems contained in the structure. It doesn’t include any self-propelled recreational vehicle.

    There is no clear definition of mobile home in the regulation; it simply states that a mobile home does not include a manufactured home.

    This is not clear to me at all. To me, the definition of a manufactured home above would be the same as a mobile home, how would they differ? What is an example of a mobile home then? Any help would be appreciated! Thanks!

    #3884
    rcooper
    Keymaster

    You’re right, they appear to be the same thing, but I believe there is one technical difference. Since Regulation Z doesn’t provide a definition of mobile home for us to use, I’m looking to the industry and HUD standard. There were mobile/manufactured home building standards implemented by HUD in 1976 under 24 CFR 3280. Mobile home is the term applied when built before these standards were implemented. Homes produced after implementation are called manufactured homes.

    Here’s a couple of links that may help:

    https://www.nadaguides.com/Manufactured-Homes/Tips-and-Articles/Definitions
    https://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/ramh/mhs/faq

    And remember not to confuse these with a modular home, which is different as well.

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