Common use of Manufactured Housing Clause in Contracts

Manufactured Housing. With respect to any Mortgaged Property that constitutes manufactured housing, each related Mortgage Loan is secured by a "single family residence" within the meaning of Section 25(e)(10) of the Code. The fair market value of the manufactured home securing any Mortgage Loan was at least equal to 80% of the adjusted issue price of the Mortgage Loan at either (i) the date the Mortgage Loan was originated (as determined pursuant to the REMIC provisions), or (ii) the date the Mortgage Loan is transferred to the Purchaser;

Manufactured Housing. With respect to any Mortgaged Property that constitutes manufactured housing, each related Mortgage Loan is secured by a "“single family residence" ” within the meaning of Section 25(e)(10) of the Code. The fair market value of the manufactured home Manufactured Home securing any Mortgage Loan was at least equal to 80% of the adjusted issue price of the Mortgage Loan at either (i) the date the Mortgage Loan was originated (as determined pursuant to the REMIC provisions), or (ii) the date the Mortgage Loan is transferred to the Purchaser;