IIB 
115TH CONGRESS 
1ST SESSION H. R. 1699 
IN THE SENATE OF THE UNITED STATES 
DECEMBER 4, 2017 
Received; read twice and referred to the Committee on Banking, Housing, and 
Urban Affairs 
AN ACT 
To amend the Truth in Lending Act to modify the definitions 
of a mortgage originator and a high-cost mortgage, to 
amend the Secure and Fair Enforcement for Mortgage 
Licensing Act of 2008 to modify the definition of a 
loan originator, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
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SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Preserving Access to 
Manufactured Housing Act of 2017’’. 
SEC. 2. MORTGAGE AND LOAN ORIGINATOR DEFINITIONS. 
(a) 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’’. 
(b) 
LOAN
ORIGINATOR
DEFINITION.—Section 
1503(4)(A) of the Secure and Fair Enforcement for Mort-
gage Licensing Act of 2008 (12 U.S.C. 5102(4)(A)) is 
amended— 
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(1) in clause (iii), by striking ‘‘and’’ at the end; 
(2) in clause (iv), by striking the period at the 
end and inserting ‘‘; and’’; and 
(3) by adding at the end the following: 
‘‘(v) does not include a retailer of 
manufactured or modular homes or its em-
ployees unless such retailer or its employ-
ees receive compensation or gain for en-
gaging in activities described in clause (i) 
that is in excess of any compensation or 
gain received in a comparable cash trans-
action.’’. 
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 
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(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)— 
(i) in subclause (I), by striking ‘‘or’’ 
at the end; and 
(ii) by adding at the end the fol-
lowing: 
‘‘(III) notwithstanding subclauses 
(I) and (II), 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 
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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’’. 
Passed the House of Representatives December 1, 
2017. 
Attest: 
KAREN L. HAAS, 
Clerk. 
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