Thursday, September 25, 2008

Manufactured Housing Financing update 9/25/08: Still have financing!

Clarification from my Underwriting Team today (which updates and corrects the update posted yesterday):

Okay….HUGE confusion on Manufactured homes!! Guidelines were changed regarding DAP’s (Down Assistance Programs) with Manufactured homes and the way that the new guidelines were rolled out, they led everyone to believe that Manufactured Homes went away (NOT surprising assumption in this market!!) HOWEVER, the guidelines were “re-rolled out” and the verbiage reworded and Manufactured Homes are STILL OKAY (but DAP’s with them are not!).

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