S. 682

Introduced

Preserving Access to Manufactured Housing Act of 2015

Introduced 3/10/2015•114th Congress•Senate

Congress.gov

Latest Action

Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 114-49.

4/16/2015 • Senate

Summary

Preserving Access to Manufactured Housing Act of 2015

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.

Revises the definition of "high cost mortgage."

Introduced in Senate • 3/10/2015

Enter your district to see how this bill affects your community

Topics & Subjects

Policy Area: Housing and Community Development

Banking and financial institutions regulationHousing finance and home ownershipHousing industry and standardsInterest, dividends, interest ratesReal estate businessRetail and wholesale trades