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FHA-insured loans (which include Reverse Mortgages) require that the manufactured home’s foundation comply with the HUD publication, PERMANENT FOUNDATION GUIDE FOR MANUFACTURED HOMES, dated 1996. In addition to the local jurisdiction and state requirements fora permanent foundation(In California this means the 433A), lenders and underwriters generally require an additional certification from a licensed engineer. This is different than the engineered drawings provided by the manufacturer or the drawing presented to the building department for the 433A.
Good News! In California, one of the more restrictive limitations on the financing of manufactured homes was lenders’ exclusion of manufactured homes in certain types of resident-owned communities. Fortunately, this exclusion no longer exists as long as the park has been Fannie-Mae, VA or FHA-approved.