H.R.650 - Preserving Access to Manufactured Housing Act of 2015114th Congress (2015-2016)
|Sponsor:||Rep. Fincher, Stephen Lee [R-TN-8] (Introduced 02/02/2015)|
|Committees:||House - Financial Services | Senate - Banking, Housing, and Urban Affairs|
|Committee Reports:||H. Rept. 114-53|
|Latest Action:||04/15/2015 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
|Roll Call Votes:||There have been 2 roll call votes|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
Summary: H.R.650 — 114th Congress (2015-2016)All Bill Information (Except Text)
Passed House without amendment (04/14/2015)
(This measure has not been amended since it was introduced. The summary of has been expanded because action occurred on the measure.)
Preserving Access to Manufactured Housing Act of 2015
(Sec. 2) Amends the Truth in Lending Act to revise the exclusion from the meaning of "mortgage originator" of any employee of a retailer of manufactured homes who does not for compensation or gain take residential mortgage loan applications, for compensation or gain offer or negotiate terms of a residential mortgage loan, or advise a consumer on loan terms (including rates, fees, and other costs).
Excludes from the meaning of "mortgage originator," instead, any retailer of manufactured or modular homes or its employees unless the retailer or its employees receive compensation or gain for engaging in certain activities in excess of any compensation or gain received in a comparable cash transaction.
(Sec. 3) Revises the definition of "high cost mortgage."