Sec. 107. PROTECTING ACCESS TO MANUFACTURED HOMES
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## SEC. 107 PROTECTING ACCESS TO MANUFACTURED HOMES Section 103 of the Truth in Lending Act (15 U.S.C. 1602) is amended— ####
(1)by redesignating the second subsection
(cc)(relating to definitions relating to mortgage origination and residential mortgage loans) and subsection
(dd)as subsections
(dd)and (ee), respectively; and ####
(2)in paragraph
(2)of subsection (dd), as so redesignated, by striking subparagraph
(C)and inserting the following: > > ##### “(C) > > does not include any person who is— > > > ###### “(i) > > not otherwise described in subparagraph
(A)or
(B)and who performs purely administrative or clerical tasks on behalf of a person who is described in any such subparagraph; or > > > ###### “(ii) > > a retailer of manufactured or modular homes or an employee of the retailer if the retailer or employee, as applicable— > > > ###### “(I) > > does not receive compensation or gain for engaging in activities described in subparagraph
(A)that is in excess of any compensation or gain received in a comparable cash transaction; > > > ###### “(II) > > discloses to the consumer— > > > ###### “(aa) > > in writing any corporate affiliation with any creditor; and > > > ###### “(bb) > > if the retailer has a corporate affiliation with any creditor, at least 1 unaffiliated creditor; and > > > ###### “(III) > > does not directly negotiate with the consumer or lender on loan terms (including rates, fees, and other costs).” > .
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Sec. 107
PROTECTING ACCESS TO MANUFACTURED HOMES
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