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Appraisal of Manufactured Homes Featuring Next-Generation Manufactured Homes

    Date: May 30, 2019   Location: Chicago, IL
 
  Course  
Category  Residential [Res]  
Attendance Hours  7.5  
Exam Hours  1.0  
Current Price  $ 125.00  
 
  Instructor  
R. Scott Hartman, SRA  
    
 
  Location  
Name  Chicago Chapter Education Center  
Address  205 W. Wacker Drive  
   Suite 202  
City  Chicago  
State  IL  
Zip  60606  
 
Click Here to check state approvals
    
 
  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 Administration (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. Applying 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.

At the conclusion of this course, you should be able to

  • 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.
  • Utilize the sales comparison approach for a manufactured home appraisal and apply new techniques when appraising a Next Generation manufactured home.

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Downloads
Table of Contents and Overview (PDF)
Schedule (PDF)
 
  Audience  
• 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.
 
  Equipment  
Four-function calculator
 
  Prerequisites  
• Licensed and Certified Residential or Certified General


• Working knowledge of the Marshall & Swift®—CoreLogic Residential Cost Handbook
 
  For Further Reading  
  The Appraisal of Real Estate, 14th ed.  
  Appraising Residential Properties, 4th ed.  
  The Dictionary of Real Estate Appraisal , 6th ed.  
 
  Disclaimer  
Cancellation Policy
  • Up To 15 days prior to program start date, refund in full.
  • 7 - 14 days prior to program start date, $100.00 cancellation fee.
  • Less than 7 days prior to program start date, forfeit of payment.
       


Program materials can be downloaded by the student.
 

 
















 
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