Insights Auditing Verification for MPS Program
The Minimum Property Standards (MPS) program was established in order to minimize potential losses for single and multi-family homes purchased with federally insured loans. To achieve this objective, the Program established a system to review, evaluate, and approve construction materials for use in such homes to ensure that the homes would perform for the life of the loan.
- Monitor building materials used in single family and multi-family homes financed with federally insured funding.
- Monitor sponsoring manufacturers and administrative agencies to assure that approved products and building systems in the marketplace are acceptable for use in federally insured loan programs.
- The Minimum Property Standards is a voluntary program.
- Provide independent audits of sponsoring manufacturers of construction materials and systems, third-party administrative agencies, and approved state modular housing program administrators throughout the U.S.
- Provide seminars to educate government personnel on the requirements of:
- MPS regulations and standards
- Permanent Foundation Guide for Manufactured Homes
- Review designs for compliance with the permanent Foundation Guide for Manufactured Homes
- Review product specifications and Q&A Program for compliance
- Manage renewal process for Materials Release and Structural Engineering Bulletins
- IBTS has a staff of certified quality auditors to conduct this work in the field and administer it from its central office.
- Provides an independent, comprehensive auditing verification program that includes tracking the performance of all program agencies and sponsoring manufacturers.
- IBTS' ability to manage this program has freed government personnel to deal with the policy issues regarding the MPS program rather than conducting the day-to-day details.