---
kind: "section"
citation: "12 C.F.R. § 1282.33"
title: "12"
number: "1282.33"
heading: "Manufactured housing market."
url: "https://uscodex.org/cfr/12/1282.33"
---

# §1282.33. Manufactured housing market.

- (a) **Duty in general.** Each Enterprise must develop loan products and flexible underwriting guidelines to facilitate a secondary market for eligible mortgages on manufactured homes for very low-, low-, and moderate-income families. Enterprise activities under this section must serve each such income group in the year for which the Enterprise is evaluated and rated.
- (b) **Eligible activities.** Enterprise activities eligible to be included in an Underserved Markets Plan for the manufactured housing market are activities that facilitate a secondary market for mortgages on residential properties for very low-, low-, or moderate-income families consisting of manufactured homes titled as real property or personal property; and manufactured housing communities.
- (c) **Regulatory Activities.** Enterprise activities related to the following are eligible to receive duty to serve credit under the manufactured housing market:
  - (1) **Manufactured homes titled as real property.** Mortgages on manufactured homes titled as real property;
  - (2) **Chattel.** Loans on manufactured homes titled as personal property, including both pilot and ongoing initiatives;
  - (3) **Manufactured housing communities owned by a governmental entity, nonprofit organization, or residents.** Mortgages on manufactured housing communities that are owned by a governmental unit or instrumentality, a nonprofit organization, or residents; and
  - (4) **Manufactured housing communities with certain pad lease protections.** Manufactured housing communities with pad leases that have the following pad lease protections at a minimum, or manufactured housing communities that are subject to state or local laws requiring pad lease protections that equal or exceed the following pad lease protections:
    - (i) One-year renewable lease term unless there is good cause for nonrenewal;
    - (ii) Thirty-day written notice of rent increases;
    - (iii) Five-day grace period for rent payments and right to cure defaults on rent payments;
    - (iv) Tenant has the right to sell the manufactured home without having to first relocate it out of the community;
    - (v) Tenant has the right to sublease or assign the pad lease for the unexpired term to the new buyer of the tenant's manufactured home without any unreasonable restraint;
    - (vi) Tenant has the right to post “For Sale” signs;
    - (vii) Tenant has the right to sell the manufactured home in place within a reasonable time period after eviction by the manufactured housing community owner; and
    - (viii) Tenant has the right to receive at least 60 days advance notice of a planned sale or closure of the manufactured housing community.
- (d) **Additional Activities.** An Enterprise may include in its Plan other activities to serve very low-, low-, or moderate-income families in the manufactured housing market consistent with [paragraph (b)](#b) of this section, subject to FHFA determination of whether the Additional Activity is eligible to receive duty to serve credit.

## Notes

### Source

Source: 81 FR 96294, Dec. 29, 2016, unless otherwise noted.

### Authority

Authority: 12 U.S.C. 4501, 4502, 4511, 4513, 4526, 4561-4566.

### Source

Source: 75 FR 55930, Sept. 14, 2010, unless otherwise noted.