Manufactured Housing Mortgage Loan means any first-lien Mortgage Loan (a) with a FICO score not below [***] and (b) with respect to which the Mortgaged Property is a manufactured dwelling and (i) such Mortgage Loan conforms with the applicable Agency requirements regarding mortgage loans related to manufactured dwellings, (ii) the related manufactured dwelling is permanently affixed to the land, (iii) the related manufactured dwelling and land are subject to a Mortgage properly filed in the appropriate public recording office and naming Seller as mortgagee, (iv) the applicable laws of the jurisdiction in which the related Mortgaged Property is located will deem the manufactured dwelling located on such Mortgaged Property to be a part of the real property on which such dwelling is located, and (v) such Manufactured Home Mortgage Loan is (1) a qualified mortgage under Section 860G(a)(3) of the Internal Revenue Code of 1986, as amended and (2) secured by manufactured housing treated as a single family residence under Section 25(e)(10) of the Code.
Manufactured Housing Mortgage Loan shall have the meaning specified in the Pricing Letter.
Examples of Manufactured Housing Mortgage Loan in a sentence
With respect to each manufactured home, a search for filings of financing statements has been made by a company competent to do same and such search has not found anything that would materially and adversely affect the related Manufactured Housing Mortgage Loan including, but not limited to, the priority of the Lien or perfection of the Manufactured Housing Mortgage Loan.