I 
113TH CONGRESS 
1ST SESSION H. R. 1779 
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 
APRIL 26, 2013 
Mr. FINCHER (for himself, Mr. THOMPSON of Mississippi, and Mr. GARY G. 
MILLER of California) introduced the following bill; which was referred 
to the Committee on Financial Services 
A BILL 
To amend the Truth in Lending Act to modify the definitions 
of a mortgage originator and a high-cost mortgage. 
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 2013’’. 
SEC. 2. MORTGAGE ORIGINATOR DEFINITION. 
(a) AMENDMENT TO DEFINITION.—Section 1401 of 
the Dodd-Frank Wall Street Reform and Consumer Pro-
tection Act is amended, in paragraph (2)(C)(ii) of the 
matter proposed to be added to section 103 of the Truth 
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in Lending Act, by striking ‘‘an employee of a retailer of 
manufactured homes who is not described in clause (i) or 
(iii) of subparagraph (A) and who does not advise a con-
sumer on loan terms (including rates, fees, and other 
costs)’’ and inserting ‘‘a retailer of manufactured or mod-
ular homes or its employees unless such retailer or its em-
ployees receive compensation or gain for engaging in ac-
tivities described in subparagraph (A) that is in excess of 
any compensation or gain received in a comparable cash 
transaction’’. 
(b) TECHNICAL AMENDMENTS.—(1) Section 1401 of 
the Dodd-Frank Wall Street Reform and Consumer Pro-
tection Act is amended, in the matter proposed to be 
added to section 103 of the Truth in Lending Act, by re-
designating subsection (cc) as subsection (dd). 
(2) Section 1431(d) of the Dodd-Frank Wall Street 
Reform and Consumer Protection Act is amended— 
(A) by striking ‘‘subsection (cc)’’ and inserting 
‘‘subsection (dd)’’; and 
(B) in the matter proposed to be added to sec-
tion 103 of the Truth in Lending Act by redesig-
nating subsection (dd) as subsection (ee). 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall take effect as if included in the provisions 
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of the Dodd-Frank Wall Street Reform and Consumer 
Protection Act to which they relate. 
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 Public Law 111– 
203, as subsection (bb); 
(2) by redesignating subsection (bb) (relating to 
high cost mortgages), as so designated by section 
1100A of Public Law 111–203, as subsection (aa), 
and moving such subsection to immediately follow 
subsection (z); and 
(3) in subsection (aa)(1)(A), as so redesig-
nated— 
(A) in clause (i)(I)— 
(i) 
by 
striking 
‘‘(8.5 
percentage 
points, if the dwelling is personal property 
and the transaction is for less than 
$50,000)’’; and 
(ii) by striking ‘‘or’’ at the end; 
(B) in clause (i)(II), by adding ‘‘or’’ at the 
end; 
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(C) in clause (i), by adding at the end the 
following: 
‘‘(III) by a first mortgage on a 
consumer’s principal dwelling that is 
considered personal property (or is a 
consumer credit transaction that does 
not include the purchase of real prop-
erty on which a dwelling is to be 
placed), the annual percentage rate at 
consummation of the transaction will 
exceed the average prime offer rate, 
as defined in section 129C(b)(2)(B), 
for a comparable transaction, by more 
than— 
‘‘(aa) 8.5 percentage points, 
in the case of a transaction in an 
amount of $50,000 or more, but 
less than $75,000 (as such 
amounts are adjusted by the Bu-
reau to reflect the change in the 
Consumer Price Index); 
‘‘(bb) 
10.5 
percentage 
points, in the case of a trans-
action in an amount of more 
than $30,000, but less than 
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$50,000 (as such amounts are 
adjusted by the Bureau to reflect 
the change in the Consumer 
Price Index); or 
‘‘(cc) 
12.5 
percentage 
points, in the case of a trans-
action in an amount of $30,000 
or less (as such amount is ad-
justed by the Bureau to reflect 
the change in the Consumer 
Price Index), or a higher percent-
age established by the Bureau 
not to exceed 14.5 percentage 
points in such cases, if the Bu-
reau determines that the lower 
rate would restrict access to cred-
it and that raising the rate would 
not have a detrimental impact on 
consumer protection.’’; and 
(D) in clause (ii)— 
(i) in subclause (I), by striking ‘‘or’’ 
at the end; and 
(ii) by adding at the end the fol-
lowing: 
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‘‘(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 
considered personal property (or is a 
consumer credit transaction that does 
not include the purchase of real prop-
erty on which a dwelling is to be 
placed) the greater of 5 percent of the 
total transaction amount or $3,000 
(as such amount is adjusted by the 
Bureau to reflect the change in the 
Consumer Price Index); or’’. 
Æ 
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