Manufactured Homes NEWS AND VIEWS: HR-650 ‘PRESERVING ACCESS TO MANUFACTURED HOUSING ACT’ PASSES, NEEDS SENATE APPROVAL
The U.S House of Representatives has recently passed HR-650 “Preserving Access To Manufactured Housing Act” with bipartisan support. The companion bill, S682, cannot pass the Senate as a “standalone” measure because President Obama would veto it.
However,if it is attached as a rider to the must pass appropriations bill, the president will sign it, according to Ross Kinzler, Executive Director Of the Wisconsin Housing Alliance who urges all in the manufactured Housing Industry to notify your congressional representatives to vote for the measure. This measure will be rolled into the large omnibus appropriations bill that has to be passed to prevent a government shutdown. Both parties are not going to allow a shut down for obvious political reasons.
The importance of this legislation to the manufactured housing industry cannot be overstated. The history: As a result of legislation passed in 2010 in response to the financial crisis of 2007 and 2008, this bill authorized the creation of the Dodd/Frank Wall Street Reform and Consumer Financing Protection Act (CFPB).
The Dodd/Frank provisions transverse all aspects of financial transactions, giving wide authority to the CFPB to regulate all financial transactions to identify and prevent fraud, abuse and discrimination, all good and noble.
However, overreach, a common occurrence with big government, unfortunately has resulted in inadvertent onerous provisions of Dodd/Frank being devastating to manufactured home buyers, retailers and lenders, making it extremely difficult and expensive for low and middle income families to purchase and own affordable quality housing.
Manufactured Homes NEWS AND VIEWS: HR-650 ‘Preserving Access To Manufactured Housing Act’ Passes, Needs Senate Approval
ManufacturedHomes.com encourages our readers and manufactured home industry friends, members, manufactured home owners, and future manufactured home buyers to make contact with their congressional representatives to make sure this legislation is included in the omnibus appropriation legislation now being proposed in Congress.
The inclusion and passing of “Preserving Access To Manufactured Housing Act” in this pending legislation will boost sales activity across the nation for America’s quality affordable manufactured homes