A bill to modify the definitions of a mortgage originator, a high-cost mortgage, and a loan originator.
Preserving Access to Manufactured Housing Act of 2017
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.
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.
Became Public Law No: 115-174.
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-108.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committee on Appropriations Senate Subcommittee on Financial Services and General Government. Hearings held on the subject prior to measure being received from the House. Hearings printed: S. Hrg. 115-191.
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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