Freddie Mac Single-Family Seller/Servicer Guide 5703.3 — Property eligibility and occupancy requirements for Mortgages secured by Manufactured Homes
Freddie Mac Single-Family Seller/Servicer Guide section 5703.3 — Property eligibility and occupancy requirements for Mortgages secured by Manufactured Homes. Full verbatim section text, substring-verified against snapshot 5869ee9e606cd4ae.
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Verbatim provisions from Freddie Mac Single-Family Seller/Servicer Guide 5703.3 — Property eligibility and occupancy requirements for Mortgages secured by Manufactured Homes — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
Freddie Mac Single-Family Seller/Servicer Guide 5703.3 — Property eligibility and occupancy requirements for Mortgages secured by Manufactured Homes
This section contains requirements related to: ■ Property eligibility ■ Occupancy (a) Property eligibility (i) General requirements For a Mortgage secured by a Manufactured Home to be eligible for sale to Freddie Mac, the Manufactured Home must be: ■ Classified as real property under applicable State law, including relevant statutes, regulations and judicial decisions ■ A 1-unit dwelling comprised of a single section or multiple sections ■ Permanently affixed to a permanent foundation in compliance with HUD codes A Manufactured Home may be located: ■ On an individual lot ■ In a Condominium Project; or ■ In a Planned Unit Development (PUD) ■ In a Community Land Trust (ii) Special requirements for a single-wide Manufactured Home in a Condominium Project If a Mortgage is secured by a single-wide Manufactured Home in a Condominium Project, the project eligibility must be determined through a reciprocal review, and the requirements in Section 5701.9 must be met. (iii) Land ownership The land on which the Manufactured Home is situated must be owned by the Borrower in fee simple, except as stated below: ■ Mortgages secured by Manufactured Homes located in a Condominium Project are eligible for sale to Freddie Mac if the Condominium Project complies with the project eligibility requirements in either Section 5701.5 for Established Condominium Projects or Section 5701.9 for reciprocal project reviews ■ Mortgages secured by Manufactured Homes located on leasehold estates must meet the requirements of Chapter 5706, except for Community Land Trust Mortgages, which must meet the requirements of Chapter 4502 (b) Occupancy Requirements for Mortgages secured by a Manufactured Home are as follows: ■ For Mortgages secured by a multiwide Manufactured Home, the Mortgaged Premises must be either: ❑ A Primary Residence; or ❑ A second home ■ For Mortgages secured by a single-wide Manufactured Home, the Mortgaged Premises must be a Primary Residence
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Source of record: https://claudeforcompliance.com/regs/fhlmc-5703-3/
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