US S1751

Bill

US S1751

Preserving Access to Manufactured Housing Act of 2017

Introduced
08/03/2017

In Committee
08/03/2017

Crossed Over

Passed

Dead
12/31/2018

Introduced Session

115th Congress

Bill Summary

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.

AI Summary

This bill amends the Truth in Lending Act (TILA) and the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 to specify that retailers of manufactured or modular homes and their employees are generally not considered "mortgage originators" or "loan originators" subject to the requirements of those acts, unless they receive compensation or gain in excess of a comparable cash transaction. It also increases the annual percentage rates and transaction values at which mortgages for certain dwellings are considered "high-cost mortgages" under TILA.

Committee Categories

Housing and Urban Affairs

Sponsors (6)

Joe Donnelly (D)*, Tom Cotton (R), Joe Manchin (I), Gary Peters (D), Tim Scott (R), Pat Toomey (R),

Last Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 08/03/2017)

Official Document

https://www.congress.gov/bill/115th-congress/senate-bill/1751/all-info

(6 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.congress.gov/bill/115th-congress/senate-bill/1751/all-info
BillText	https://www.congress.gov/115/bills/s1751/BILLS-115s1751is.pdf
Bill	https://www.congress.gov/115/bills/s1751/BILLS-115s1751is.pdf.pdf

Bill	Bill Name	Last Action	Type
HR10	Financial CHOICE Act of 2017	Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-108.	Related
HR1699	Preserving Access to Manufactured Housing Act of 2017	Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.	Related
HR3280	Financial Services and General Government Appropriations Act, 2018	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.	Related
HRes635	Providing for consideration of the bill (H.B. 4182) to amend title 5, United States Code, to modify probationary periods with respect to positions within the competitive service and the Senior Executive Service, and for other purposes, and providing for consideration of the bill (H.B. 1699) to amend the Truth in Lending Act to modify the definitions of a mortgage originator and a high-cost mortgage, to amend the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 to modify the definit	Motion to reconsider laid on the table Agreed to without objection.	Similar To
HRes905	Providing for consideration of the bill (H.B. 5515) to authorize appropriations for fiscal year 2019 for military activities of the Department of Defense and for military construction, to prescribe military personnel strengths for such fiscal year, and for other purposes; providing for consideration of the bill (S. 204) to authorize the use of unapproved medical products by patients diagnosed with a terminal illness in accordance with State law, and for other purposes; and providing for consider	Motion to reconsider laid on the table Agreed to without objection.	Similar To
S2155	Economic Growth, Regulatory Relief, and Consumer Protection Act	Became Public Law No: 115-174.	Related

Bill > S1751

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (6)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary