Published: December 2017

Bill would create weaker protections, costlier loans for many homeowners

Consumer groups sent a letter to Congress opposing a bill that would harm the buyers of manufactured housing (commonly known as mobile homes) by allowing manufactured housing lenders to issue high-cost, dangerous loans.

Consumer and housing groups sent a letter to Congress in opposition to a bill (HR 1699) that would undermine already vulnerable manufactured housing homeowners by stripping away laws (created by Congress and implemented by the Consumer Financial Protection Bureau) designed to give them the same protections as traditional homeowners. The bill poses significant dangers for consumers and homebuyers by exempting manufactured housing lenders from requirements that protect borrowers against inappropriately high-cost loans. In short, HR 1699 would harm homeowners through weaker consumer protections and costlier loans that are harder to repay, ultimately making homeownership more expensive for those who can least afford it.

Lead Organization

Americans for Financial Reform

Other Organizations

Allied Progress | Center for Responsible Lending | Consumer Action | NAACP | National Association of Consumer Advocates | National Consumer Law Center (on behalf of its low-income clients) | National Fair Housing Alliance | National Manufactured Home Owners Association | Prosperity Now (formerly CFED) | UnidosUS (formerly National Council of La Raza) | Woodstock Institute | California Coalition for Rural Housing (CA) | Housing and Economic Rights Advocates (CA) | National Housing Law Project (CA) | San Marcos Mobile Home Residents Association (CA) | The Committee to Elect Pierre Beauregard for Congress (CA)

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