FHA issued Mortgagee Letter 2020-48, announcing updated appraisal standards for the sales comparison approach for a category of manufactured housing that meets Fannie Mae’s MH Advantage or Freddie Mac’s CHOICEHome program certification requirements. FHA made the updates to ensure the selection of the appropriate appraisal comparable sales of this unique category of manufactured housing. The updated appraisal standards are effective for appraisals dated on or after December 22, 2020, through December 31, 2022. During this effective period, FHA will monitor the performance of this guidance to determine if further adjustments are necessary.
Click to view the FHA Mortgagee Letter 2020-48: https://www.tenaco.com/wp-content/uploads/2020/12/FHA-Mortgagee-Letter-2020-48.pdf
