Political Quotes

“Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, today I rise in strong support of H.R. 1699, the Preserving Access to Manufactured Housing Act. It is an important bill that is cosponsored by a bipartisan--I repeat, bipartisan--group of members, and it was approved by the Financial Services Committee with a strong bipartisan vote of 42-18. In fact, this proposal has a long track record of bipartisan support with a similar bill having passed the last Congress with votes from both Republicans and Democrats. I want to thank my colleague, Representative Barr, the chairman of our Monetary Policy and Trade Subcommittee for his leadership in introducing this legislation and for leading congressional efforts to help Americans, particularly those of lower and moderate incomes, to help them achieve a greater level of financial independence and being able to achieve their American Dream of homeownership. Here is the problem, Mr. Speaker. Under the CFPB's regulations, many small-balance manufactured home loans are now being considered ``high cost.'' This means that many people, particularly those with lower and moderate incomes who want to buy a manufactured home, aren't able to buy that home. Their access to credit is being unfairly restricted through no fault of their own. Lenders are leaving the market. Five County Credit Union in Maine, Zia Credit Union in New Mexico, Manhattan Bank in Montana, and the list goes on and on and on. Lenders are leaving the market.…”