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GAO-23-105615
Published: Sep 26, 2023. Publicly Released: Sep 26, 2023.
Manufactured housing—prefabricated, factory built homes—can be an affordable option for lower-income homebuyers. But some borrowers may not qualify for mortgages and might have to turn to other kinds of financing with less favorable rates and terms.
Several federal agencies, Fannie Mae, and Freddie Mac have created new or modified existing loan programs to help manufactured home borrowers. But while the Department of Housing and Urban Development has planned program improvements, it doesn’t have a timeline for putting them in place. We recommended it do so.
A manufactured house being transported on a California highway in 2018
Agency Affected
Open
<label class=”status-code-label”>Open</label><p class=”status-code-description”><p> Actions to satisfy the intent of the recommendation have not been taken or are being planned.</p></p>
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Open
<label class=”status-code-label”>Open</label><p class=”status-code-description”><p> Actions to satisfy the intent of the recommendation have not been taken or are being planned.</p></p>
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
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