Blaine Luetkemeyer: “I thank the gentleman from Kentucky (Mr. Barr) for his continued commitment to issues surrounding the availability of…”

“I thank the gentleman from Kentucky (Mr. Barr) for his continued commitment to issues surrounding the availability of affordable manufactured housing. He has been a patient champion on this and many other issues that impact Americans seeking access to mortgage financing. The legislation we consider today amends the Truth in Lending Act to specify that a retailer of manufactured housing is not a ``mortgage originator'' subject to requirements under that act. Similarly, the bill specifies that such a retailer is generally not a ``loan originator.'' So what do we mean with regard to these technical concerns? They mean that more people in Missouri and Kentucky and every other State will have access to manufactured housing. Certain regulations stemming from Dodd-Frank constricted credit for manufactured homes. This legislation would help consumers by restoring access to financing that is currently blocked. If you want more access to credit, if you want more competition, you need to support this. What has happened is that the rules and regulations have constricted the ability of banks and credit unions to be able to make these kinds of loans. Housing options in rural America aren't necessarily the same as those offered in other parts of the Nation. Our rural communities can face a severely limited affordable housing stock, making the availability of and financing for manufactured housing all the more important.…”