Preserving Access to Manufactured Housing Act of 2017

Bill 115 hr 1699, also known as the Preserving Access to Manufactured Housing Act of 2017, is a piece of legislation introduced in the US Congress. The main goal of this bill is to amend the Truth in Lending Act to ensure that manufactured housing retailers are not classified as loan originators unless they are directly involved in the financing process.

The bill aims to protect manufactured housing retailers from being subject to unnecessary regulations that could hinder their ability to provide affordable housing options to consumers. By clarifying the definition of a loan originator, the bill seeks to promote access to financing for manufactured housing without imposing burdensome requirements on retailers.

Supporters of the bill argue that it will help to preserve access to affordable housing options for low and moderate-income individuals and families. They believe that by exempting manufactured housing retailers from certain regulatory requirements, the bill will encourage more retailers to offer financing options to consumers, ultimately increasing access to affordable housing. Critics of the bill, however, have raised concerns about potential risks to consumers, such as predatory lending practices. They argue that by exempting retailers from certain regulations, the bill could create loopholes that could be exploited by unscrupulous lenders. Overall, the Preserving Access to Manufactured Housing Act of 2017 is a controversial piece of legislation that seeks to balance the need for consumer protection with the goal of promoting access to affordable housing options. It remains to be seen how the bill will be received by Congress and what impact it will have on the manufactured housing industry.