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S. 682 · 114th Congress

Preserving Access to Manufactured Housing Act of 2015

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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

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…

What it does: CRS summary · Introduced in Senate · Mar 10, 2015

Preserving Access to Manufactured Housing Act of 2015

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.

Revises the definition of "high cost mortgage."

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Preserving Access to Manufactured Housing Act of 2015

Latest action (Apr 16, 2015): Committee on Banking, Housing, and Urban Affairs. Hearings held.

Policy area: Housing and Community Development · Origin: Senate · Introduced: Mar 10, 2015

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.