To amend the S.A.F.E. Mortgage Licensing Act of 2008 to provide an exception from the definition of loan originator for certain loans made with respect to manufactured homes, to amend the Truth in Lending Act to modify the definition of a high-cost mortgage, and for other purposes.
Preserving Access to Manufactured Housing Act - Amends the S.A.F.E. Mortgage Licensing Act of 2008 to exclude a seller of manufactured homes from the definition of loan originator subject to such Act, unless such individual or entity is engaged in the business of a loan originator or receives compensation or gain for engaging in certain residential mortgage loan activities in excess of any compensation or gain received in a comparable cash transaction.
Amends the Truth in Lending Act, as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act, to revise the definition of "high cost mortgage."
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
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