House Passes Sewell Manufactured Housing Reform

Press Release

On Friday, the House passed the Preserving Access to Manufactured Housing Act (H.R. 1699) in a bipartisan vote. Congresswoman Terri A. Sewell (D-AL) is the lead Democratic co-sponsor and Congressman Andy Barr (R-KY) is the lead Republican sponsor on the Preserving Access to Manufactured Housing Act.

"Passage of today's bill means working families will be one step closer to affordable housing," said Rep. Sewell. "In Alabama, over 300,000 families rely on manufactured homes for quality, independent, affordable housing, but current rules make access to credit for purchasing manufactured homes more difficult. The Preserving Access to Manufactured Housing Act ensures that manufactured housing remains an affordable option by bringing needed reform to federal mortgage regulations while preserving consumer protections that prevent predatory lending."

The Preserving Access to Manufactured Housing Act would ensure that manufactured home loans are not unfairly categorized as high-cost loans. This inappropriate categorization restricts the availability of credit for the purchase of manufactured homes, eliminating an option for affordable housing for working families.

The Preserving Access to Manufactured Housing Act does not alter protections against predatory lending. It leaves in place considerable consumer protections including the Truth in Lending Act's "Ability to Repay" requirement, the prohibition against steering a consumer to a loan that has "predatory characteristics," loan term disclosures, the prohibition on mandatory arbitration, as well as the authority of the CFPB to prosecute unfair, deceptive abusive acts and practices.

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