Jeb Hensarling: “This is a vaguely worded and unneeded MTR. We continue to hear from our friends from the other side of the aisle that we…”

“This is a vaguely worded and unneeded MTR. We continue to hear from our friends from the other side of the aisle that we don't have sufficient consumer protections in place, but I wonder how denying a low-income family access to credit to buy an affordable home is somehow construed as consumer protection. I wonder how denying a low-income family the ability to own a home at a lower cost with a lower monthly payment somehow can be construed as consumer protection. I wonder how a policy that has led to a 22 percent drop in the availability of manufactured housing credit can somehow be construed as consumer protection. Only in Washington could you have such an absurd result, but I have good news for all Members of the House. After the passage of H.R. 1699, guess what. Manufactured housing loans will still be subject to the Equal Credit Opportunity Act. They will still be subject to the Fair Housing Act. They will still be subject to the Fair Credit Reporting Act. They will still be subject to the Truth in Lending Act. They will still be subject to the Home Mortgage Disclosure Act. They will still be subject to the Real Estate Settlement Procedures Act. And the list, Mr. Speaker, goes on and on and on. What we have heard is an attempt again by Washington elites to take away affordable housing. No one who votes against H.R.…”