Congressman Seth Moulton Votes for Bipartisan Housing Bills

Press Release

Congressman Seth Moulton (D-MA) voted last week for two bipartisan bills - the Preserving Access to Manufactured Housing Act and the Mortgage Choice Act - to expand access to affordable housing for low- to mid-income families.

"I fundamentally support the vital consumer financial protections of the Dodd-Frank Act, said Moulton. "I also believe that no bill is perfect, and there is always room for improvement. That's why last week I voted for two bipartisan bills that preserve the necessary Dodd-Frank consumer protections while correcting unintended consequences of the law that squeezed access to mortgage credit for low- and middle- income families.

The Preserving Access to Manufactured Housing Act expands affordable housing options for the many Massachusetts families who live in manufactured homes. Due to current regulations, some banks have stopped or severely restricted offering manufactured home loans, making it difficult, if not impossible, for families to obtain loans or sell their current homes. Moulton argued that we need use every tool at our disposal to protect against the real predatory lending that exists in the industry. However, the current regulations prevent many would-be homeowners from ever owning an affordable home and instead push some into higher cost options they may not be able to afford. The bill fixes the problem while maintaining protections against predatory lending and federal oversight of the market. That's why local Massachusetts realtors, credit unions and progressive Democrats like Rep. Terri Sewell, who represents hundreds of thousands of mobile homeowners, support this bill.

The second bill, the Mortgage Choice Act, was passed unanimously by the House of Representatives just last year. It is a bipartisan bill that provides an important regulatory clarification. It maintains the vital protections of the Dodd-Frank Act while expanding access to mortgage credit and increasing competition in the market which, Moulton argues, is a good thing for consumers.

A realtor, based in Massachusetts' Sixth Congressional District, added that "Yesterday, Congressman Moulton stood with Massachusetts REALTORs in calling for sensible reforms to Dodd-Frank that will result in an increase in consumer access to affordable mortgage credit while ensuring that its many essential consumer safeguards are still protected. Qualified Massachusetts residents deserve access to affordable mortgage credit and homeownership options and we thank Congressman Moulton for his support on these critical pieces of legislation."

"I ran for Congress to be an independent voice in Washington," said Moulton. "I review every policy on its merits and its impact on Massachusetts. Protecting Dodd-Frank from Republican attacks is important, but when we have an opportunity to improve that law, we shouldn't hide in our partisan corners. We should work together with both parties to make progress. That's what I did last week."

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