Manufactured Housing Lending Act
Sponsored By: Senator Merkley, Jeff [D-OR]
Introduced
Summary
Expand secondary-market support for personal-property manufactured home loans. The bill would direct the Federal Housing Finance Agency to require Fannie Mae and Freddie Mac to each run pilot programs to buy or share financial risk on loans secured to manufactured homes.
Show full summary
- Homebuyers of manufactured homes: Would place personal-property manufactured home loans into GSE pilot programs that can purchase or share risk on newly originated loans and existing loan portfolios.
- Residents and community owners: Would limit financed homes to those located in nonprofit, government, or resident-owned manufactured housing communities and require a lease term that exceeds the loan term or includes a perpetual right to occupy the site.
- Consumer protections: Would require pilots to incorporate the consumer mortgage lending and servicing protections in parts 1024 and 1026 of 12 CFR to the greatest extent practicable.
- FHFA and GSE operations: Would require FHFA to order each pilot within 18 months and let each GSE begin purchases or risk sharing within 1 year of establishing its pilot. The FHFA director could set prudent risk protections and counterparty standards and pilots must let Fannie Mae and Freddie Mac earn a reasonable economic return that is lower than returns on comparable mortgage activities.
Personalized for You
How does this bill affect your finances?
Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.
Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Pilot programs for manufactured home loans
This bill would direct FHFA to require Fannie Mae and Freddie Mac to each set up a pilot to buy or share risk on personal property (chattel) manufactured home loans. FHFA would have to order the pilots within 18 months of enactment, and each pilot would begin purchases or sharing risk within one year after it starts. To be eligible, the financed home must be in a nonprofit, government, or resident-owned manufactured housing community, and the land lease must last longer than the loan or give a perpetual right to occupy the site. The pilots would use consumer mortgage protections in 12 C.F.R. parts 1024 and 1026 to the greatest extent practicable, could include prudent risk and counterparty rules at FHFA's discretion, and would limit enterprise returns to a reasonable amount below other mortgage activities.
Sponsors & CoSponsors
Sponsor
Merkley, Jeff [D-OR]
OR • D
Cosponsors
Sen. Hickenlooper, John W. [D-CO]
CO • D
Sponsored 6/17/2026
Sen. Welch, Peter [D-VT]
VT • D
Sponsored 6/17/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov