New Feedback Messages Provide Guidance on Mortgage Insurance Requirements for Manufactured Homes

[January 11, 2007]

On January 21, we're enhancing Loan Prospector® to provide new feedback messages indicating mortgage insurance coverage requirements for Manufactured Homes assessed in Loan Prospector, including those assessed as Freddie Mac's Home Possible® Mortgages. These new feedback messages reflect the requirements found in the Freddie Mac Single-Family Seller/Servicer Guide in Section H33.3. Please be sure to review the Guide for complete details on our mortgage insurance coverage requirements. These new feedback messages will be effective for all Loan Prospector submissions, including new submissions and pipeline loans, as of January 21.

Currently, Loan Prospector does not return feedback messages indicating mortgage insurance coverage requirements for Manufactured Homes. Full requirements for Freddie Mac's Manufactured Homes and Home Possible Mortgages can be found in the Guide Bulletin.

If you're a third-party originator, you'll need to check with your wholesale lender to determine if they are currently offering these mortgages.