Although HUD Secretary Julian Castro praised the manufactured home industry for making affordable home ownership possible in a recent speech to the Manufactured Housing Institute (MHI), another part of the federal government, the Consumer Financial Protection Bureau (CFPB), restricts lending on manufactured homes valued at $20,000 or less. Some say it restricts lending on homes valued under $100,000.

L. A. “Tony” Kovach, publisher of MHProNews and MHLivingNews, says the solution is Senate passage of the Preserving Access to Manufactured Housing Act, S682. The House passed its version of the bill, H.R.650 in April, 2015, with bipartisan support.

According to MHI’s Lesli Gooch, “The language (of S. 682) could catch a ride on the must-pass omnibus Appropriations package as a policy rider because the bill was included in the Senate’s Financial Services and General Government Appropriations bill (section 909 of S. 1910) in July.”

The bill is scheduled to be put to a vote on or before December 11, 2015, and it is imperative to contact your Congressional representatives in the House and the Senate and encourage them to support inclusion of S. 682 and H. R. 650 in the General Government Appropriations bill.

For links to Julian Castro’s talk, businessman and MH homeowner Tom Fath’s take on CFPB regulations, links to contact your congressional representatives, and encouragement from L. A. “Tony” Kovach, click here.

For comments on the importance of independent journalism from Tim Williams, MHI Chairman and president/CEO of 21^st Mortgage, click here. ##

(Image credit: forbes)

Article submitted by Matthew J. Silver to Daily Business News-MHProNews.