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.
About This Bill
Committee
Latest Action · June 17, 2026
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
This bill directs two major government-sponsored mortgage companies, Fannie Mae and Freddie Mac, to establish pilot programs for purchasing loans on manufactured homes that are classified as personal property rather than real estate. The bill requires these pilot programs to begin purchasing new loans or taking on financial risk within one year of establishment and mandates that the Federal Housing Finance Agency oversee the initiative. Manufactured homes covered by these programs must be located in nonprofit, government, or resident-owned communities and include lease agreements that either last as long as the loan or provide permanent occupancy rights. The pilot programs must incorporate consumer protections similar to those in standard mortgage lending and be allowed to generate reasonable economic returns, though lower than returns from traditional mortgage activities. The entire process must be initiated within 18 months of the bill's enactment.
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