Page 29 of 29Glossary Last Update

5/2024 Module 6.2 Unsubsidized housing Privately owned housing rented at market price. Module 3.2 Upfront Mortgage Insurance Premium, or UFMIP An insurance premium of 1.75% that is collected on FHA loans. UFMIP can be paid at the time the loan closes or rolled into the mortgage payments. It is in addition to ongoing mortgage insurance premium payments. Module 2.2 Voluntary repossession The manufactured-home owner voluntarily surrenders the home to the lender outside of for less than the borrower owes.