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Manufactured Housing Lending Act
To require the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation to each establish a pilot program for personal property manufactured home loan purchases.
Summary
- Requires the Federal Housing Finance Agency to direct Fannie Mae and Freddie Mac to each establish a pilot program for purchasing personal property manufactured home loans within 18 months of enactment
- Requires Fannie Mae and Freddie Mac to begin purchasing or sharing financial risk on new or existing manufactured home loans within one year of establishing the pilot programs
- Pilot programs must incorporate consumer mortgage lending and servicing protections found in federal regulations to the greatest extent practicable
- Financed manufactured homes must be located in nonprofit, government, or resident-owned manufactured housing communities and have lease terms that exceed the loan term or include perpetual occupancy rights
- Pilot programs may include prudent risk protections and counterparty standards at the discretion of the Federal Housing Finance Agency Director
- Fannie Mae and Freddie Mac are authorized to achieve a reasonable economic return from the pilot programs that is lower than returns on other comparable mortgage lending activities
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Sen. Merkley, Jeff [D-OR] (D-OR)
2 cosponsors
Actions (2)
- Jun 17, 2026 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. · senate
- Jun 17, 2026 Introduced in Senate
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
IN THE SENATE OF THE UNITED STATES
June 17, 2026
Mr. Merkley (for himself, Mr. Hickenlooper, and Mr. Welch) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs
A BILL
To require the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation to each establish a pilot program for personal property manufactured home loan purchases.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Manufactured Housing Lending Act”.
SEC. 2. ESTABLISHMENT OF PILOT PROGRAM.
(a) In General.—Not later 18 months after the date of enactment of this Act, the Federal Housing Finance Agency shall direct the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation to each establish a pilot program for personal property manufactured home loan purchases.
(b) Purchases.—Not later than 1 year after the date on which a pilot program is established under subsection (a), the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation, as applicable, shall begin purchasing or otherwise sharing financial risk on newly originated loans or existing portfolios of loans.
(c) Requirements.—The pilot programs established under subsection
(a) shall—
(1) incorporate the consumer mortgage lending and servicing protections found in parts 1024 and 1026 of title 12, Code of Federal Regulations, to the greatest extent practicable;
(2) require financed manufactured homes to—
(A) be located in nonprofit, government, or resident-owned manufactured housing communities; and
(B) include a lease term that exceeds the manufactured house loan term or includes a perpetual right to occupy the site;
(3) at the discretion of the Director of the Federal Housing Finance Agency, include prudent risk protections and counterparty standards; and
(4) permit the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation to achieve a reasonable economic return that shall be less than the return earned on other comparable mortgage lending activities. <all>
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