| MH Mobile Homes Inspection and Condition Report Procedures |
| Tuesday, 04 March 2003 | |
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MH Mobile Homes Inspection and Condition Report Procedures As you may be aware, mobile and manufactured housing presents specific problems for the default servicing industry. Specifically, mobile homes must be identified as such as early in the default process as possible, to ensure that the appropriate steps are taken in the foreclosure process. Identifying mobile homes has been a challenge for vendors that perform inspection and preservation services. In trying to address these issues, Safeguard has developed new operational procedures and instructions for its inspectors and contractors to help eliminate or minimize any delay in the foreclosure process on mobile/manufactured homes. Safeguard's system has been programmed to flag the first inspection result identifying the home as a mobile/manufactured home. All follow-up inspections/preservation orders will have modified instructions to our inspectors/contractors that will address the details required for mobile/manufactured homes (i.e. VIN, HUD tag, serial number, anchored, axles, skirted, etc.) Safeguard understands that the loans for mobile homes are different than those for the standard family dwelling (real property vs. personal property) and has tailored its inspection forms to provide information specific to mobile homes (see attached). Additionally, all information regarding a mobile home (inspections and preservation updates), once flagged as such, can be copied to the designated client staff. We have also created special mobile home report options on our website to help our clients track these loans through the foreclosure process. I am attaching a copy of a memo sent to our contractors last October to help them identify mobile/manufactured homes. This is another challenge that our industry needs to address, and Safeguard is prepared to provide any assistance possible. Please feel free to contact us with any additional ideas you may have on how we can be of assistance to address this issue. Contact Information: I am also attaching the agenda for the Mobile/Manufactured Home session to be held at the upcoming REOMAC conference in Palm Springs, CA from March 16-19th. For additional information on the conference, please click on the following link: http://www.reomac.com/conferences.htm Sincerely, Robert |
