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    SMMRA, non-profit No. C1847436 P.O. Box 4104, San Marcos, CA 92079-1015    info@smmra.org    
Legislation E-Alerts

2017 Bills

Potential New Law re Financing Manufacture/Mobilehomes

If appropriate to your project, please send your Senator a letter to support this legislation:

House of Representatives Passes H.R. 650 – lending on mobilehome purchases may become easier and cheaper!

The House of Representatives passed H.R. 650 on Tuesday, April 14, 2015 by a vote of 263-162. The bill will now move on to the Senate. In review, H.R. 650 revises the triggers by which small-sized manufactured home loans are considered "High-Cost" under the Home Ownership and Equity Protection Act (HOEPA) and also clarifies that manufactured home retailers and their employees are not considered Loan Originators as long as they receive no compensation for performing Loan Originator activities.

A potential win for the mobilehome sellers and buyers – change federal regulations which hurt everyone participating in the mobilehome community lifestyle.

L. Sue Loftin, Esq.
The Loftin Firm, P.C.

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