Preserving Access to Manufactured Housing Act of 2015

Bill: 114-hr-650
Sponsor: Rep. Fincher, Stephen Lee [R-TN-8]
Introduced: 2015-02-02 in the House
Policy area: Housing and Community Development
Subjects: Banking and financial institutions regulation
Housing finance and home ownership
Housing industry and standards
Interest, dividends, interest rates
Real estate business
Retail and wholesale trades

Summary:
action_date: 2015-02-02
text: 

Preserving Access to Manufactured Housing Act of 2015

 
 Amends the Truth in Lending Act to revise the exclusion from the meaning of "mortgage originator" of any employee of a retailer of manufactured homes who does not for compensation or gain take residential mortgage loan applications, for compensation or gain offer or negotiate terms of a residential mortgage loan, or advise a consumer on loan terms (including rates, fees, and other costs).
 
Excludes from the meaning of "mortgage originator," instead, any retailer of manufactured or modular homes or its employees unless the retailer or its employees receive compensation or gain for engaging in certain activities in excess of any compensation or gain received in a comparable cash transaction.
 
Revises the definition of "high cost mortgage."

action_date: 2015-04-14
text: 
(This measure has not been amended since it was introduced. The summary of has been expanded because action occurred on the measure.)
 

Preserving Access to Manufactured Housing Act of 2015

 
(Sec. 2) Amends the Truth in Lending Act to revise the exclusion from the meaning of "mortgage originator" of any employee of a retailer of manufactured homes who does not for compensation or gain take residential mortgage loan applications, for compensation or gain offer or negotiate terms of a residential mortgage loan, or advise a consumer on loan terms (including rates, fees, and other costs).
 
Excludes from the meaning of "mortgage originator," instead, any retailer of manufactured or modular homes or its employees unless the retailer or its employees receive compensation or gain for engaging in certain activities in excess of any compensation or gain received in a comparable cash transaction.
 
(Sec. 3) Revises the definition of "high cost mortgage."


Legislative actions:
action_date: 2015-04-15
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2015-04-14
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2015-04-14
text: On passage Passed by the Yeas and Nays: 263 - 162 (Roll no. 151). (text: CR H2178)
action_date: 2015-04-14
text: Passed/agreed to in House: On passage Passed by the Yeas and Nays: 263 - 162 (Roll no. 151).(text: CR H2178)
action_date: 2015-04-14
text: On motion to recommit with instructions Failed by the Yeas and Nays: 184 - 239 (Roll no. 150).
action_date: 2015-04-14
text: DEBATE - The House proceeded with 10 minutes of debate on the Waters motion to recommit with instructions. The instructions contained in the motion seek to report the same back to the House forthwith with an amendment to ensure that the underlying legislation does not benefit lenders or individuals that have engaged in unfair, deceptive, predatory, or abusive lending practices, or have been convicted of mortgage fraud, pending reservation of a point of order. Subsequently, the reservation of a point of order was removed.
action_date: 2015-04-14
text: Ms. Waters, Maxine moved to recommit with instructions to the Committee on Financial Services. (consideration: CR H2194-2196)
action_date: 2015-04-14
text: Pursuant to clause 1(c) of Rule 19, further proceedings on H.R. 650 resumed.
action_date: 2015-04-14
text: Considered as unfinished business. (consideration: CR H2194-2197)
action_date: 2015-04-14
text: POSTPONED PROCEEDINGS - Pursuant to clause 1(c) of Rule 19, further proceedings on H.R. 650 was postponed.
action_date: 2015-04-14
text: The previous question was ordered pursuant to the rule. (consideration: CR H2188)
action_date: 2015-04-14
text: DEBATE - Pursuant to the provisions of H. Res. 189, the House proceeded with one hour of debate on H. R. 650.
action_date: 2015-04-14
text: Considered under the provisions of rule H. Res. 189. (consideration: CR H2178-2188)
action_date: 2015-04-13
text: Rules Committee Resolution H. Res. 189 Reported to House. Resolution provides for consideration of 3 measures: H.R. 650; H.R. 685; and S. Con. Res. 11.
action_date: 2015-04-06
text: Placed on the Union Calendar, Calendar No. 34.
action_date: 2015-04-06
text: Reported by the Committee on Financial Services. H. Rept. 114-53.
action_date: 2015-04-06
text: Reported by the Committee on Financial Services. H. Rept. 114-53.
action_date: 2015-03-26
text: Ordered to be Reported by the Yeas and Nays: 43 - 15.
action_date: 2015-03-26
text: Committee Consideration and Mark-up Session Held.
action_date: 2015-03-25
text: Committee Consideration and Mark-up Session Held.
action_date: 2015-02-03
text: Sponsor introductory remarks on measure. (CR E157)
action_date: 2015-02-02
text: Referred to the House Committee on Financial Services.
action_date: 2015-02-02
text: Introduced in House
action_date: 2015-02-02
text: Introduced in House