National Appraisal Guides, Inc. is thrilled to introduce the NADAguides New Manufactured Home Price Tool. This new product assists lenders and retailers in complying with the new Higher-Priced Mortgage Loans (HPML) Appraisal Rule, and it was designed with efficiency and affordability in mind.
The HPML Appraisal Rule goes into effect on July 18, 2015.
What is the new HPML Appraisal Rule?
As a lender, the new HPML Appraisal Rule will require you to provide your borrowers with an independent third party evaluation on all loans that meet specific criteria. The borrower must receive this evaluation at least three days prior to the close of escrow. The NADAguides’ New Manufactured Home Price Tool will generate such an evaluation in real time, and at a highly competitive price.
Solution for compliance with the new HPML Appraisal Rule: NADAguides New Manufactured Home Price Tool
For new home sales, a valuation method was needed that treats the home being valued as if it were located on a retailer’s lot. The valuation needed to address individual floor plans offered by manufacturers, while applying a geographically-specific markup. To satisfy this need, National Appraisal Guides, Inc. developed a user-friendly, 24/7 online access tool: the NADAguides New Manufactured Home Price Tool.
This new tool will provide users with average retail prices based on the individual models offered by each manufacturing plant. Users will have the ability to search using a variety of parameters including model year, manufacturer name, division/plant of manufacturer, series/trade name, floor plan number/model name, width, and length.
Based on the search parameters entered above, a list of selectable floor plans will populate below.
The NADAguides New Manufactured Home Price Tool will allow users to select from an extensive list of factory-added options, and once satisfied with the selections, detailed price reports can be instantly printed. The price reports include home specifications, a floor plan image (when available), a list of standard features, and an itemized list of factory-added options.
Users will benefit from an instant turn-around time on all price reports at affordable volume-based price points. Buying price reports in bulk can be a great way to save money, as reducing the cost per unit can result in significant reductions to your company’s overhead. Click here to view pricing.
About National Appraisal Guides, Inc. and NADAguides.com
NADAguides.com is the largest publisher of the most market-reflective vehicle pricing and information available for automotive, classic cars, motorcycles, boats, RVs, and manufactured homes. We offer in-depth shopping and research tools, including a broad range of data, products and services. National Appraisal Guides, Inc. also produces software, mobile applications, raw data, web services, web-syndicated products and print guidebooks. National Appraisal Guides, Inc. is a strategic ally of NADA Services Corporation.