Washington, D.C. - Today, Congressman Donnelly was pleased to learn that the Department of Housing and Urban Development (HUD) intends to implement legislation that Donnelly authored to reinvigorate the Federal Housing Administration (FHA) Title I loan program for manufactured homes.
“I am pleased that the Department of Housing and Urban Development intends to implement this essential change to the Title I loan program for manufactured housing,” Donnelly said. “This will help revitalize the manufactured housing industry by providing affordable homeownership options, as well as job opportunities to Hoosiers.”
On July 30, The Housing and Economic Recovery Act of 2008 was enacted into law, which included The FHA Manufactured Housing Loan Modernization Act of 2007 that Donnelly authored. Specifically, Donnelly’s legislation was meant to bolster the FHA Title I loan program for manufactured homes, which has not increased loan limits since 1992, causing a drastic decline in the industry.
While the legislation was signed into law in July, HUD had not yet enacted the manufactured housing provisions. Donnelly contacted HUD to stress the importance of implementing the changes to the Title I loan program for the manufactured housing industry.
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