S. 1751 · 115th Congress
Preserving Access to Manufactured Housing Act of 2017
- Stage
- In committee
- Sponsor
- Joe Donnelly
- Introduced
- 2017-08-03
- Latest action
- 2017-08-03 · Introduced in Senate
Summary
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.