IB 
Union Calendar No. 34 
114TH CONGRESS 
1ST SESSION 
H. R. 650 
[Report No. 114–53] 
To amend the Truth in Lending Act to modify the definitions of a mortgage 
originator and a high-cost mortgage. 
IN THE HOUSE OF REPRESENTATIVES 
FEBRUARY 2, 2015 
Mr. FINCHER (for himself, Ms. SEWELL of Alabama, Mr. BARR, and Ms. 
SINEMA) introduced the following bill; which was referred to the Com-
mittee on Financial Services 
APRIL 6, 2015 
Additional sponsors: Mr. DUNCAN of Tennessee, Mr. NUGENT, Mrs. BLACK, 
Mr. MULLIN, Mr. LUCAS, Mr. SALMON, Mr. HARPER, Mr. PALAZZO, Mr. 
MULVANEY, Mr. DUFFY, Mr. FRANKS of Arizona, Mrs. WALORSKI, Mr. 
GOSAR, Mr. WHITFIELD, Mr. PEARCE, Mrs. KIRKPATRICK, Mrs. BLACK-
BURN, Mr. THOMPSON of Pennsylvania, Mr. BLUM, Mr. STUTZMAN, Mr. 
RUSSELL, Mr. DENT, Mr. BYRNE, Mrs. BROOKS of Indiana, Mr. 
SCHWEIKERT, Mr. HILL, Mr. BUCK, Mr. MARCHANT, Mr. HURT of Vir-
ginia, Mr. ROTHFUS, Mr. PERRY, Mr. WILLIAMS, Mr. DESJARLAIS, Mr. 
HINOJOSA, Mr. FLEISCHMANN, Mr. ROSS, Mr. STIVERS, Mr. POSEY, Mr. 
FITZPATRICK, and Mr. KING of New York 
APRIL 6, 2015 
Committed to the Committee of the Whole House on the State of the Union 
and ordered to be printed 
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A BILL 
To amend the Truth in Lending Act to modify the definitions 
of a mortgage originator and a high-cost mortgage. 
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Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Preserving Access to 
Manufactured Housing Act of 2015’’. 
SEC. 2. MORTGAGE ORIGINATOR DEFINITION. 
Section 103 of the Truth in Lending Act (15 U.S.C. 
1602) is amended— 
(1) by redesignating the second subsection (cc) 
and subsection (dd) as subsections (dd) and (ee), re-
spectively; and 
(2) in paragraph (2)(C) of subsection (dd), as 
so redesignated, by striking ‘‘an employee of a re-
tailer of manufactured homes who is not described 
in clause (i) or (iii) of subparagraph (A) and who 
does not advise a consumer on loan terms (including 
rates, fees, and other costs)’’ and inserting ‘‘a re-
tailer of manufactured or modular homes or its em-
ployees unless such retailer or its employees receive 
compensation or gain for engaging in activities de-
scribed in subparagraph (A) that is in excess of any 
compensation or gain received in a comparable cash 
transaction’’. 
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SEC. 3. HIGH-COST MORTGAGE DEFINITION. 
Section 103 of the Truth in Lending Act (15 U.S.C. 
1602) is amended— 
(1) by redesignating subsection (aa) (relating to 
disclosure of greater amount or percentage), as so 
designated by section 1100A of the Consumer Fi-
nancial Protection Act of 2010, as subsection (bb); 
(2) by redesignating subsection (bb) (relating to 
high cost mortgages), as so designated by section 
1100A of the Consumer Financial Protection Act of 
2010, as subsection (aa), and moving such sub-
section to immediately follow subsection (z); and 
(3) in subsection (aa)(1)(A), as so redesig-
nated— 
(A) in clause (i)(I), by striking ‘‘(8.5 per-
centage points, if the dwelling is personal prop-
erty and the transaction is for less than 
$50,000)’’ and inserting ‘‘(10 percentage points 
if the dwelling is personal property or is a 
transaction that does not include the purchase 
of real property on which a dwelling is to be 
placed, and the transaction is for less than 
$75,000 (as such amount is adjusted by the 
Bureau to reflect the change in the Consumer 
Price Index))’’; and 
(B) in clause (ii)— 
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(i) in subclause (I), by striking ‘‘or’’ 
at the end; and 
(ii) by adding at the end the fol-
lowing: 
‘‘(III) in the case of a trans-
action for less than $75,000 (as such 
amount is adjusted by the Bureau to 
reflect the change in the Consumer 
Price Index) in which the dwelling is 
personal property (or is a consumer 
credit transaction that does not in-
clude the purchase of real property on 
which a dwelling is to be placed) the 
greater of 5 percent of the total trans-
action amount or $3,000 (as such 
amount is adjusted by the Bureau to 
reflect the change in the Consumer 
Price Index); or’’. 
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Union Calendar No. 34 
114TH CONGRESS 
1ST SESSION 
H. R. 650 
[Report No. 114–53] 
A BILL 
To amend the Truth in Lending Act to modify the 
definitions of a mortgage originator and a high- 
cost mortgage. 
APRIL 6, 2015 
Committed to the Committee of the Whole House on the 
State of the Union and ordered to be printed 
VerDate Sep 11 2014 
21:28 Apr 06, 2015
Jkt 049200
PO 00000
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