Chapter
1 Appraisal
and Property Requirements Page
1-09f
All manufactured
homes must have an affixed HUD
seal (tag) located on the outside of the home. If the home is a multi-wide
unit, each unit must have a label. In some instances, the unit may not be sequentially
numbered. Appraisers are to list the manufactured unit's label number(s) on the
appraisal report in one of the comment sections, preferably on the front page
under "Additional Features" and complete VC14a on the HUD-92564-VC
(Notice to Lender- Valuation Conditions) If for any reason the labels
are missing, appraisers must REJECT the property and notify the lender. In some
states a manufactured home may not be re-sold if missing a label. HUD does not
reissue tags for manufactured homes, however the Department can issue a letter
of label (tag) verification lieu of rejecting the property. HUD will accept documentation
from IBTS - Institute
for Building Technology and Safety (Current HUD Contractor) verifying HUD
labels were issued to the manufactured home if the tags are not affixed to the
home at the time of appraisal. The lender is to include this documentation in
the file submitted to HUD. Information regarding a request of label verification
can be found at HUD's
Manufactured Housing website. Please note: The use of
the newly revised Fannie Mae appraisal reporting forms, and elimination of the
VC sheet and Homebuyer summary, which have been adopted by FHA via Mortgagee
Letter 2005-34, is optional between November 1, 2005 and the mandatory start
date of January 1, 2006. The new protocol must be followed when using the new
form whether it is done at the lender/client’s request or of the appraiser's choosing.
This reference guide page will be further updated after January 1, 2006. For further
information please contact your local HUD Homeownership Center.
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