Companion legislation to H.R. 650 was introduced in the U.S. Senate to address recent federal regulations implementing the Dodd-Frank Act that do not reflect the unique nature of the manufactured home financing and sales process. The underlying consumer protections of the Dodd-Frank Act will remain in place under this legislation.
"Working families across the country, particularly in rural areas, depend on access to financing for affordable manufactured homes," said Nathan Smith, Chairman of the Manufactured Housing Institute. "Manufactured homes are the largest form of unsubsidized affordable housing in the nation. We thank Senators Donnelly, Toomey, Manchin, and Cotton for working to correct the federal regulations that are reducing the availability of credit for the purchase of manufactured homes. I applaud them for coming together to protect consumers' ability to access homeownership through this quality affordable housing option."
