I 

111TH CONGRESS 

2D SESSION H. R. 5369 

To amend the Secure and Fair Enforcement for Mortgage Licensing Act 

of 2008 to exempt manufactured and modular housing retailers from 

the requirements of such Act, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

MAY 24, 2010 

Mr. DONNELLY of Indiana (for himself and Mr. POSEY) introduced the 

following bill; which was referred to the Committee on Financial Services 

A BILL 

To amend the Secure and Fair Enforcement for Mortgage 

Licensing Act of 2008 to exempt manufactured and modular housing retailers from the requirements of such 

Act, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Manufactured Housing 

5 Licensing Clarification Act of 2010’’. 

6 SEC. 2. EXEMPTION ESTABLISHED. 

7 (a) DEFINITION OF LOAN ORIGINATOR.—Section 

8 1503(3)(A) of the Secure and Fair Enforcement for MortVerDate Mar 15 2010 02:12 May 25, 2010 Jkt 089200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H5369.IH H5369

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1 gage Licensing Act of 2008 (12 U.S.C. 5102(3)(A)) is 

2 amended— 

3 (1) by striking ‘‘and’’ at the end of clause (iii); 

4 (2) by striking the period at the end of clause 

5 (iv) and inserting ‘‘; and’’; and 

6 (3) by adding at the end the following new 

7 clause: 

8 ‘‘(v) does not include an individual 

9 who performs manufactured or modular 

10 housing retail sales activities and is li11 censed or registered as required by applica12 ble State law, unless the individual is com13 pensated by a lender, a mortgage broker, 

14 or other loan originator or by any agent of 

15 such lender, mortgage broker, or other 

16 loan originator.’’. 

17 (b) MANUFACTURED OR MODULAR HOUSING RETAIL

18 SALES ACTIVITY DEFINED.—Section 1503(3) of the Se19 cure and Fair Enforcement for Mortgage Licensing Act 

20 of 2008 (12 U.S.C. 5102(3)) is amended by adding at the 

21 end the following new subparagraph: 

22 ‘‘(E) MANUFACTURED OR MODULAR HOUS23 ING RETAIL SALES ACTIVITY.—The term ‘man24 ufactured or modular housing retail sales activ25 ity’ means any activity that involves offering or 


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1 providing manufactured housing or modular 

2 housing sales services to the public, including— 

3 ‘‘(i) acting as a salesperson for a re4 tailer, seller, lessor, or lessee of manufac5 tured or modular housing; 

6 ‘‘(ii) bringing together parties inter7 ested in the sale, purchase, lease, rental, or 

8 exchange of manufactured or modular 

9 housing; 

10 ‘‘(iii) negotiating, on behalf of any 

11 party, any portion of a contract relating to 

12 the sale, purchase, lease, rental, or ex13 change of manufactured or modular homes 

14 (other than in connection with providing fi15 nancing with respect to any such trans16 action); 

17 ‘‘(iv) closing or executing a retail in18 stallment sales contract on behalf of a re19 tail seller entity of a manufactured or mod20 ular home to the extent that any transfer 

21 of funds for the purchase of the retail in22 stallment sales contract are paid directly to 

23 the retail seller entity offering the home 

24 for sale and not to the individual closing or 


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1 executing the retail installment sales con2 tract; 

3 ‘‘(v) engaging in any activity for 

4 which a person engaged in the activity is 

5 required to be registered or licensed as a 

6 manufactured or modular housing retailer 

7 or salesperson under any applicable law; 

8 and 

9 ‘‘(vi) offering to engage in any activ10 ity, or act in any capacity, described in 

11 clause (i), (ii), (iii), (iv), or (v).’’. 

12 SEC. 3. AMENDMENT TO STATE LAW LICENSING REQUIRE13 MENTS. 

14 Section 1508(d) of the Secure and Fair Enforcement 

15 for Mortgage Licensing Act of 2008 (12 U.S.C. 1507(d)) 

16 is amended by adding at the end the following new para17 graphs: 

18 ‘‘(7) The State loan originator supervisory au19 thority has created education and testing appro20 priate for personal property loan originators. 

21 ‘‘(8) The State loan originator supervisory au22 thority ensures that additional mortgage lending li23 censing is not mandated of a State-licensed personal 

24 property lender and has not created unnecessary, 

25 duplicative licensing requirements for State-licensed 


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1 lenders engaged solely in making residential mort2 gage loans secured by personal property, such as 

3 manufactured homes.’’. 

Æ 


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