(This measure has not been amended since it was introduced. The summary of has been expanded because action occurred on the measure.)
Preserving Access to Manufactured Housing Act of 2015
(Sec. 2) Amends the Truth in Lending Act to revise the exclusion from the meaning of "mortgage originator" of any employee of a retailer of manufactured homes who does not for compensation or gain take residential mortgage loan applications, for compensation or gain offer or negotiate terms of a residential mortgage loan, or advise a consumer on loan terms (including rates, fees, and other costs).
Excludes from the meaning of "mortgage originator," instead, any retailer of manufactured or modular homes or its employees unless the retailer or its employees receive compensation or gain for engaging in certain activities in excess of any compensation or gain received in a comparable cash transaction.
(Sec. 3) Revises the definition of "high cost mortgage."
Committee Consideration and Mark-up Session Held.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported by the Yeas and Nays: 43 - 15.
Reported by the Committee on Financial Services. H. Rept. 114-53.
Reported by the Committee on Financial Services. H. Rept. 114-53.
Placed on the Union Calendar, Calendar No. 34.
Rules Committee Resolution H. Res. 189 Reported to House. Resolution provides for consideration of 3 measures: H.R. 650; H.R. 685; and S. Con. Res. 11.
Considered under the provisions of rule H. Res. 189. (consideration: CR H2178-2188)
DEBATE - Pursuant to the provisions of H. Res. 189, the House proceeded with one hour of debate on H. R. 650.
The previous question was ordered pursuant to the rule. (consideration: CR H2188)
POSTPONED PROCEEDINGS - Pursuant to clause 1(c) of Rule 19, further proceedings on H.R. 650 was postponed.
Considered as unfinished business. (consideration: CR H2194-2197)
Pursuant to clause 1(c) of Rule 19, further proceedings on H.R. 650 resumed.
Ms. Waters, Maxine moved to recommit with instructions to the Committee on Financial Services. (consideration: CR H2194-2196)
DEBATE - The House proceeded with 10 minutes of debate on the Waters motion to recommit with instructions. The instructions contained in the motion seek to report the same back to the House forthwith with an amendment to ensure that the underlying legislation does not benefit lenders or individuals that have engaged in unfair, deceptive, predatory, or abusive lending practices, or have been convicted of mortgage fraud, pending reservation of a point of order. Subsequently, the reservation of a point of order was removed.
On motion to recommit with instructions Failed by the Yeas and Nays: 184 - 239 (Roll no. 150).
Roll Call #150 (House)Passed/agreed to in House: On passage Passed by the Yeas and Nays: 263 - 162 (Roll no. 151).(text: CR H2178)
Roll Call #151 (House)On passage Passed by the Yeas and Nays: 263 - 162 (Roll no. 151). (text: CR H2178)
Roll Call #151 (House)Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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