U.S. House to vote on S. 2155

A young couple shares a cup of coffee on the floor of their new home

The U.S. House of Representatives is expected to soon take up a bill that contains MHI’s priority legislation to clarify that a retailer or seller of manufactured housing is not considered a “loan originator” simply because they provide a customer with some assistance in the mortgage loan process.

This important manufactured housing provision is included in S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act, which is a package of Dodd-Frank Act reforms intended to improve the national financial regulatory framework and promote economic growth.

2155 has already been passed by the U.S. Senate. Passage in the U.S. House of Representatives will send the legislation to the President’s desk for signature. This means that our fight to ensure manufactured housing retailers and sellers are not subject to compliance requirements clearly designed to apply only to the actual entity making a mortgage loan will become law very soon.

We call on you one final time to let your Representative know how important this provision is for consumers of manufactured housing. Like real estate agents, manufactured housing retailers and salespeople need to be able to assist their customers.