3.0.0 7386 2022-02-08T23:16:49Z 2022-02-08T23:16:49Z House HR 2020-06-26 116 hsba00 Financial Services Committee House Standing Referred to 2020-06-26T13:00:50Z 2020-06-26 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2020-06-26 Introduced in House IntroReferral Intro-H 9 Library of Congress 2020-06-26 Introduced in House IntroReferral 1000 9 Library of Congress F000467 Rep. Finkenauer, Abby [D-IA-1] Abby Finkenauer D IA 1 N A000378 Rep. Axne, Cynthia [D-IA-3] Cynthia Axne D IA 3 2020-06-26 True L000565 Rep. Loebsack, David [D-IA-2] David Loebsack D IA 2 2020-06-26 True Finance and Financial Sector Advisory bodies Congressional oversight Consumer affairs Government lending and loan guarantees Housing finance and home ownership Housing industry and standards Lease and rental services Finance and Financial Sector 00 2020-06-26 Introduced in House 2021-03-23T14:33:34Z Helping Owners Meet Essential Standards Act of 2020 or the HOMES Act of 2020

This bill requires manufactured housing communities and home parks to meet minimum consumer protections to be eligible for certain federally-backed loans for the construction, substantial rehabilitation, or purchase of these communities. Specifically, the Department of Housing and Urban Development is prohibited from insuring such a loan, and Fannie Mae and Freddie Mac are prohibited from purchasing such a loan, unless a borrower provides specified tenant protections, including

  • one-year renewable lease terms, unless there is good cause for nonrenewal;
  • a 60-day advance notice of any increase in rent, or of a sale or closure of the community;
  • a five-day grace period for rent payments; and
  • a right for a tenant to sell a manufactured home within a reasonable time period after eviction.

The bill also establishes the Manufactured Home Company Lending Standards Commission to propose additional consumer protection standards.

]]> HOMES Act of 2020 Display Title HOMES Act of 2020 Official Title as Introduced To ensure that federally backed financing for the construction, rehabilitation, or purchase of manufactured home communities is available only for communities whose owner has implemented minimum consumer protections in the lease agreements with residents of all manufactured home communities owned by such owner, and for other purposes. Introduced in House IH Short Title(s) as Introduced HOMES Act of 2020 Introduced in House IH Short Title(s) as Introduced Helping Owners Meet Essential Standards Act of 2020 Introduced in House IH Introduced in House 2020-06-26T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr7386ih/xml/BILLS-116hr7386ih.xml 2020-06-26 Referred to the House Committee on Financial Services. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.