H.R. 1699 Preserving Access to Manufactured Housing Act of 2017

Summary


Preserving Access to Manufactured Housing Act of 2017 (Sec. 2) This bill amends the Truth in Lending Act (TILA) to specify that a retailer of manufactured housing is generally not a "mortgage originator" subject to requirements under that Act. Similarly, the bill amends the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 to specify that such a retailer is generally not a "loan originator" subject to requirements under that Act. (Sec. 3) In addition, the bill increases the annual percentage rates and transaction values at which mortgages for certain dwellings are considered "high-cost mortgages" under TILA.

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