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.

Jeff Merkley

Democrat · OR · Senator

Source: Congress.gov · FEC

• John W. Hickenlooper (D-CO)Original· 2026-06-17
• Peter Welch (D-VT)Original· 2026-06-17

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

2026-06-17

Source: Congress.gov

The government-sponsored mortgage companies Fannie Mae and Freddie Mac would be required to create test programs that help people buy manufactured homes (mobile homes) by offering loans for both the home and the land it sits on together. Currently, these companies typically don't offer this type of combined financing, making it harder for manufactured home buyers to get affordable loans. The pilot programs would test whether offering these loans is practical and could expand homeownership options for people looking to buy manufactured homes.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 4804 Introduced in Senate (IS)] <DOC> 119th CONGRESS 2d Session S. 4804 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. _______________________________________________________________________ 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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