Today, MHI released a high-level summary and Frequently Asked Questions (FAQ) paper regarding compliance with Section 107 of the “Economic Growth, Regulatory Relief, and Consumer Protection Act” (Pub. L. 115-174 § 107), which was signed into law by President Trump on May 24, 2018. Entitled “Dodd-Frank Act Changes Provide Relief for Manufactured Housing Retailers and Community Owners,” the paper addresses common questions that members have shared concerning the implementation of this law, which amended the Truth in Lending Act (TILA) by adding an exception to the definition of mortgage originator that excludes manufactured home retailers, sellers, and their employees.

MHI’s paper summarizes the Bureau of Consumer Financial Protection’s (Bureau) next steps as the agency prepares to implement the changes to the law. Specifically, it explains what is and is not permitted under the new law and answers questions that have been submitted to MHI since the law was signed. The paper also explains restrictions that might still apply under the Secure and Fair Enforcement for Mortgage Licensing Act and other state-specific laws that regulate many of the activities that are now permitted under TILA’s revised definition of mortgage originator.

The change to TILA’s definition of mortgage originator is the result of MHI’s successful advocacy efforts in Washington. MHI’s government affairs team worked closely with Congress and the Administration to secure inclusion and passage of this important provision to the “Economic Growth, Regulatory Relief, and Consumer Protection Act.” The grassroots outreach from MHI members and state executive directors – totaling more than 20,000 calls and emails – was an instrumental part of this advocacy effort to help members of Congress understand the importance of this provision to their constituents.

If you have any questions, please contact MHI’s Government Affairs Department at

(703) 229-6208 or MHIgov@mfghome.org.

View Document Here

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