Modular Housing

Modular Housing

Modular Housing refers to Structures constructed according to state and local codes off-site in a factory, transported to a building lot, and assembled by a contractor into a finished house. Monthly Principal Reduction (MoPR) The Monthly Principal Reduction (MoPR) is the amount of principal reduction that the Mortgagee will disburse monthly from the Payment Supplement Account and apply to the Supplement Period. Mortgage Mortgage refers to any form of security instrument that is commonly used in a jurisdiction in which it is situated, such as a deed of trust or security deed or land contract. Mortgage Charge amount charged to the Borrower for an insured Mortgage.