Appraisal of Manufactured Homes Featuring Next-Generation Manufactured Homes

Some AI educational programs may not be approved in every state.

Students should check state approvals prior to registering for any Appraisal Institute program.

To register for this program, go to the bottom of the page.



Who should enroll Residential appraisers and reviewers who are currently working in the secondary market lending space: appraisals for loans that are ultimately purchased by Freddie Mac, FHA, VA, USDA, or Fannie Mae
Description

This new 7.5-hour 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).

The course begins with a thorough review of existing manufactured housing products then delves into CHOICEHomeSM, a new accessible, affordable addition to America’s housing stock. To apply elementary and complex techniques used in the cost and the sales comparison approaches, you’ll work through a case study of these homes to develop a credible appraisal report.

 

Objectives
  • 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.
Prerequisites
  • Licensed and Certified Residential or Certified General
  • Working knowledge of the Marshall & Swift®—CoreLogic Residential Cost Handbook


Refer to this page for details of state approval hours for this course.

  • Attended Only:

    35
  • Attended Only:

    35
  • Attended Only:

    35
  • Attend and Pass Exam:

    40
  • Attend and Pass Exam:

    40
  • Attend and Pass Exam:

    40
  • Pass Exam Only:

    5
  • Pass Exam Only:

    5
  • Pass Exam Only:

    5
7.5 Hours
Yes. To maximize your learning experience, it is important that you read and review the case study for this course before class begins.
  
Note. If you selected the download materials option on the Appraisal Institute website, please make sure that you have downloaded the course handbook, solutions booklet, and the two work files before you come to class.
Yes
1
Intermediate
  • 4-function calculator
  • Bringing a PRINT copy of the materials to class (rather than the download) will enhance your learning experience
 
N/A
  • 4-function calculator
  • Bringing a PRINT copy of the materials to class (rather than the download) will enhance your learning experience
 
None specified Online Requirements Synchronous Requirements

Important! You may want to consider ordering print materials for this seminar, or simply print all materials on your own and bring them to class. Having print copies of the materials will enhance the learning experience for this seminar.

This program is made possible through collaboration with Freddie Mac.
 

 

You will be asked to clear the calculator’s memory before and after the examination. Only one calculator is permitted in the testing room. Examinees taking most AI exams may bring their own calculator to use during the exam. Laptops, cellular phones, tablets, iPads, wearable technology (smart watch, Apple Watch, Google Glass, etc.), and other devices that can store data or connect to the Internet are NOT permitted during the exam. In addition, all watches, wallets, bags, and purses must be removed and stored out of reach prior to taking the exam.


Classroom Offerings

Sponsor Date Location Instructor(s)

Synchronous Offerings

No offerings at this time