S.1751 - Preserving Access to Manufactured Housing Act of 2017115th Congress (2017-2018)
|Sponsor:||Sen. Donnelly, Joe [D-IN] (Introduced 08/03/2017)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||Senate - 08/03/2017 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
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Summary: S.1751 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in Senate (08/03/2017)
Preserving Access to Manufactured Housing Act of 2017
This bill amends the Truth in Lending Act (TILA) to specify that a retailer of manufactured housing is generally not a "mortgage originator" subject to requirements under that Act. Similarly, the bill amends the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 to specify that such a retailer is generally not a "loan originator" subject to requirements under that Act.
In addition, the bill increases the annual percentage rates and transaction values at which mortgages for certain dwellings are considered "high-cost mortgages" under TILA.