Bonamici, García Introduce Legislation to Protect Manufactured Homebuyers from Predatory Practices

Press Release

Today Congresswoman Suzanne Bonamici (D-OR) and Congressman Jesús "Chuy" García (D-IL) introduced legislation to protect manufactured homebuyers from predatory practices.

Manufactured housing can be an affordable option for many individuals and families, but buyers often face hurdles obtaining financing and lack safeguards provided to consumers who are purchasing traditional housing. The Fair Manufactured Housing Lending Act will create a more level playing field for manufactured homebuyers by restoring consumer protections that will, among other things, prevent unscrupulous retailers from diverting borrowers to more expensive, affiliated lenders.

"Predatory lenders should not be able to take advantage of people buying and financing a manufactured home," said Congresswoman Suzanne Bonamici. "The Fair Manufactured Housing Lending Act will restore buyer safeguards for manufactured housing lending at a time when we desperately need more affordable housing in our communities. We must put an end to unscrupulous practices of sellers and provide manufactured homebuyers with the consumer protections they need when they purchase a home."

"A home should mean safety and financial security, but predatory home loans prey on those who can least afford it," said Congressman Jesús "Chuy" García. "Owners of manufactured housing deserve the same rights and protections as every other homeowner, and it's time to repeal the loophole that leaves them open to exploitation. I'm proud to introduce this bill with Congresswoman Bonamici to do just that."

The Fair Manufactured Housing Lending Act has been endorsed by: Prosperity Now, National Consumer Law Center (on behalf of its low-income clients), All Parks Alliance for Change (APAC), Americans for Financial Reform, CASA of Oregon, Center for Responsible Lending, Consumer Action, Consumer Federation of America, National Association of Consumer Advocates, National Housing Law Project, National Low Income Housing Coalition, National Manufactured Home Owners Association, Network for Oregon Affordable Housing, Public Citizen, and Woodstock Institute.

"Manufactured housing is sometimes the only affordable option for folks with lower incomes," said Peter Hainley, Executive Director of CASA of Oregon. "Ensuring that there is a level playing field for folks when they seek financing to buy a home should be of primary importance. There is no reason to treat buyers of manufactured homes any differently than any other type of home buyers. The Fair Manufactured Housing Lending Act ensures that consumers of manufactured homes are protected from predatory lending."

"The Fair Manufactured Housing Lending Act will help ensure purchasers of manufactured housing have many of the same rights and protections consumers of site-built homes are entitled to," said Bill VanVliet, Executive Director of the Network for Oregon Affordable Housing.

A fact sheet about the Fair Manufactured Housing Lending Act can be found here. A copy of the legislation can be found here.

In addition to Bonamici and García the legislation is supported by Representatives Earl Blumenauer (D-OR), Madeleine Dean (D-PA), Raúl Grijalva (D-AZ) Barbara Lee (D-CA), Carolyn Maloney (D-NY), Eleanor Holmes Norton (D-DC), Dina Titus (D-NV), Rashida Tlaib (D-MI), and Juan Vargas (D-CA).

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