Sending Office: Honorable Keith Ellison
Sent By:
Carol.Wayman@mail.house.gov

VOTE YES ON ELLISON AMENDMENT #200
PROTECT BUYERS OF MANUFACTURED HOMES FROM HIGH-COST LOANS

“Former dealers said [Clayton Homes] encouraged them to steer buyers to finance with Clayton’s own high-interest
lenders.”

Seattle Times, April 2, 2015

Dear Colleague,

I write to request you vote “YES” on Ellison Amendment #200 to the Department of the Interior, Environment and Related Agencies Act of 2018 (H.R. 3354). My amendment protects buyers of manufactured homes from being steered to high-cost loans by striking
§915 on pages 563-566.

There is a long, painful history of sellers of manufactured homes steering home buyers into poor-quality loans with high fees and interest rates. In 2015, the

Seattle Times
published an
award-winning

series of articles

finding
that that “former [Clayton Home] dealers said the company encouraged them to steer buyers to finance with Clayton’s own high-interest lenders.”

The investigation by The Seattle Times and
Center for Public Integrity
reported “Clayton relies on predatory sales practices, exorbitant fees, and interest rates that can exceed 15 percent, trapping many buyers in loans they can’t afford and in homes that are almost impossible to sell or refinance.”
A
study
from the Consumer Financial Protection Bureau reported concerns about the financing options for home buyers.

Last year, Mr. Ellison offered two amendments similar to Amendment #200 to the Financial Services and General Government appropriations bill. The roll call votes were
255-167 and
255-162
.

The Center for Responsible Lending, Capital Impact Partners, Fair Mortgage Collaborative, Housing Assistance Council, National Consumer Law Center,

Prosperity Now
and the National Manufactured Home Owners Association have long opposed limiting consumer protections for people taking out a loan to buy a manufactured home.

When people buy a home, it should help increase their stability and wealth, not damage their finances. Please retain the Consumer Bureau’s efforts to protect manufactured home buyers from loans that strip their wealth. Please protect manufactured home buyers
from high cost loans. Support Ellison Amendment #200.

Sincerely,

/s/

Keith Ellison
Member of Congress

Related Legislative Issues
Selected legislative information: Consumer Affairs, Finance, Rules/Legislative Branch
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