Joe Donnelly: “Mr. Speaker, the FHA Manufactured Housing Loan Modernization Act of 2007, which I introduced with my colleagues Chairman…”

“Mr. Speaker, the FHA Manufactured Housing Loan Modernization Act of 2007, which I introduced with my colleagues Chairman Frank, Mr. Tiberi and Mr. Feeney, includes important provisions that will help revitalize the manufactured housing industry, which plays a critical role in helping Americans achieve the dream of home ownership by providing them with alternative opportunities for affordable housing. This bill passed the Financial Services Committee unanimously on May 28, 2007. This $8 billion a year industry provides jobs for people not only in the Second District of Indiana, but throughout the country. These homes house 22 million people in over 10.5 million homes. Mr. Speaker, I have seen firsthand in my own district how these homes have continued a tradition of quality and safe construction over many years. They present a high quality, affordable housing opportunity for American families. H.R. 2139 would raise the manufactured housing title I loan limits and annually index them for inflation. It will also give HUD the authority to increase insurance premiums and improve underwriting standards in order to make sure that the program is actuarially sound.”