Press Releases

Washington, D.C. -- Congresswoman Terri Sewell issued the following statement after the Preserving Access to Manufactured Housing Act (H.R. 650), a bill she co-sponsored to preserve critical access to financing for manufactured homes for low-income and rural families, passed the U.S. House of Representatives.

“Manufactured homes provide quality, affordable housing for roughly 22 million Americans. More than 300,000 Alabama families live in manufactured homes, which accounts for over 14 percent of the state's available housing stock.

“The Preserving Access to Manufactured Housing Act ensures that manufactured homes remain a viable, affordable housing option for families in rural, distressed and underserved areas. Manufactured homes loans are considered personal property loans, which distinguishes them from traditional mortgages.

“The Dodd Frank Act was meant to enhance consumer protections, rather than limit consumer access. This bill corrects an unintended consequence of Dodd Frank and makes a simple but necessary adjustment to enable lenders to meet the demand for affordable, responsible mortgage loans for manufactured homes while preserving important consumer protections.

“This bill leaves untouched important protections established under the Dodd Frank Act.  Consumers will continue to have a wide range of mortgage protections, including the Qualified Mortgage Standards ‘Ability to Repay’ requirement, the prohibition on steering incentives, the prohibition against steering a consumer to a predatory loan, loan term disclosures, the prohibition on mandatory arbitration, as well as other state and federal laws.

“Without this bill, working families and retirees with limited credit or fixed incomes will be forced into more expensive housing options. I am proud of the bipartisan support the Preserving Access to Manufactured Housing Act received in the House. Today’s vote underscores our commitment to preserving affordable housing choices for all Americans.”

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