- Date
- On Demand
- Sponsor
- Appraisal Institute
- Location
- Instructor
- Kenneth G. Foltz, MAI, SRA
- Class Time
- 7.5 Hours
- Exam Time
- 1 Hour
- Full Price
- $145.00
- AI Price
- $120.00
Course Description
This course, developed in collaboration with Freddie Mac, provides an in-depth look into preparing appraisals for traditional manufactured homes plus insight into CHOICEHomeSM—the new type of high-quality manufactured homes that are built to HUD code but developed with site-built features. You’ll learn how to meet the specific requirements of Freddie Mac, the Federal Housing Authority (FHA), Veteran’s Administration (VA), United States Department of Agriculture (USDA) and Fannie Mae using a new, ground-breaking tool—the Manufactured Home Quality Rating Worksheet – which is consistent with the Marshall & Swift®—CoreLogic Residential Cost Handbook and the Uniform Appraisal Dataset (UAD).
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Who Should Enroll
AI CE Points
Attend:
37
Attend & Pass Exam:
42
Pass Only:
5
State Approvals
| State | QE/CE | Course & Exam | Course Only | Exam Only | Delivery Format | Approval Format | Start Date | Expire Date | State Code |
|---|---|---|---|---|---|---|---|---|---|
| AR | CE | 7.5 | 7.5 | Online | Online | 12/15/2022 | 12/10/2024 | ||
| AR | CE | 8.5 | 7.5 | 1 | Online | Online | 12/15/2022 | 12/10/2024 | |
| AZ | CE | 8.5 | 7.5 | 1 | Online | Online | 10/14/2023 | 10/13/2026 | 75721 |
| CO | CE | 8.5 | 7.5 | 1 | Online | Online | 05/08/2024 | 10/21/2026 | 2644 |
| DE | CE | 8.5 | 7.5 | 1 | Online | Online | 10/14/2023 | 10/13/2026 | 75721 |
| IL | CE | 7 | 7 | Online | Online | 01/28/2021 | 12/31/2024 | 575.010460 | |
| IN | CE | 8.5 | 7.5 | 1 | Online | Online | 10/14/2023 | 10/13/2026 | 75721 |
| MD | CE | 8.5 | 7.5 | 1 | Online | Online | 10/14/2023 | 10/13/2026 | 75721 |
| ME | CE | 8.5 | 7.5 | 1 | Online | Online | 10/14/2023 | 10/13/2026 | 75721 |
| MN | CE | 8.5 | 7.5 | 1 | Online | Online | 12/10/2020 | 12/31/2024 | 1030702 |
| NC | CE | 7.5 | 7.5 | Online | Online | 05/09/2024 | 12/31/2024 | 4646 | |
| NJ | CE | 8.5 | 7.5 | 1 | Online | Online | 11/18/2020 | 2020-3321 | |
| NJ | CE | 7.5 | 7.5 | Online | Online | 11/18/2020 | 2020-3321 | ||
| PR | CE | 8.5 | 7.5 | 1 | Online | Online | 10/14/2023 | 10/13/2026 | 75721 |
| SC | CE | 8.5 | 7.5 | 1 | Online | Online | 09/01/2024 | 08/31/2026 | DE1925, AC . 1925 |
| VA | CE | 8.5 | 7.5 | 1 | Online | Online | 10/14/2023 | 10/13/2026 | 75721 |
| WI | CE | 8.5 | 7.5 | 1 | Online | Online | 10/14/2023 | 10/13/2026 | 75721 |
| WV | CE | 7.5 | 7.5 | Online | Online | 10/13/2023 | 03/11/2025 |
Course Objectives
- Identify the multiple types of factory-built housing including manufactured home, Next Generation manufactured home, modular home, and panelized home.
- Recognize the distinctive construction qualities of manufactured homes and how they differ from site-built homes.
- Understand the specific secondary market appraisal requirements of Freddie Mac, FHA, USDA, VA, and Fannie Mae.
- Understand proper data collection techniques for manufactured housing.
- Develop an overall quality rating for manufactured homes using the Manufactured Home Quality Rating Worksheet.
- Report accurate results of a manufactured housing appraisal on a Freddie Mac Form 70B (FNMA form 1004C).
- Develop the cost approach for both a manufactured home and a Next Generation manufactured home using the Marshall & Swift®—CoreLogic Residential Cost Handbook.
- Use the sales comparison approach for a manufactured home appraisal and apply new techniques when appraising a Next Generation manufactured home.
Course Details
Program Overview:
Assignments:
Yes. To maximize your learning experience, it is important that you read and review the case study for this course.
- For the classroom version, you should read the case study before you come to class.
- For the online version, you should read the case study when you begin the online material. Links to the case study are provided at the beginning of the course.
Classroom Version Note. If you selected the download materials option on the Appraisal Institute website, please make sure that you have downloaded the course handbook, solutions booklet, and the two work files before you come to class.
Online Version Note. Participants must complete mandatory assignments and exercises in the program. Feedback will be at the discretion of the instructor. If you have questions or would like to request specific comments on your submitted assignment or exercise, please contact the instructor. Please allow up to 5 days for the instructor to reply to your review request.
Equipment:
- 4-function calculator
Additional Information:
Exam:
This course contains a proctored, offline exam that may be required for credit in some states. Please contact your individual state(s) for specific exam requirements. You will have 180 days from the time that you complete the course to take the proctored, offline exam. Testing center locations in your area can be found by clicking on this link:www.pearsonvue.com/ai.
Exam FAQ
Go to www.appraisalinstitute.org and log in with the username and password you used when you registered. Click on the red “My Account” button if you are not automatically taken to your account page.
1. Click "Education and Events" on the right navigation menu.
2. Find the course under the “Online Courses” heading and click the “Begin” button.
IMPORTANT NOTE: Once this button is clicked, your access length time (e.g. 90 days) will begin. Only click when you intend to start the course. If you are returning, once you have started the course, click the “Continue” button to continue.
Other Details
Please see Online Education Frequently Asked Questions for more information on how online education works, how to login, refund and cancellation policies, and more.
Requirements:
Online Education System Requirements
Prerequisites
- Licensed and Certified Residential or Certified General
- Working knowledge of the Marshall & Swift®—CoreLogic Residential Cost Handbook
Course Materials & Recommended Books
Pricing Options
| Rate | Full Price | AI Price |
|---|---|---|
| Standard
Today thru 12/31/2050 |
$145.00 | $120.00 |
Have Exam Questions?
Event Information
Students should confirm state approvals prior to registering for any Appraisal Institute program.