At MHI Urging Chairman Barney Frank and Ranking Member Spencer Bachus Send Letter to Secretary Shaun Donovan Seeking S.A.F.E. Act Clarification

MHI is pleased to inform its members that we received the final letter from the US House of Representatives, Committee on Financial Services to HUD. MHI’s efforts are reflected in this letter. The letter, signed by Barney Frank and Spencer Bachus addresses, S.A.F.E. Act implementation date, the unreasonable application of the S.A.F.E. Act to the manufactured housing industry and a de minimis standard. Specifically, HUD must provide the states with clear guidance on whether certain individuals, such as retail sales agents, are subject to S.A.F.E. Act licensing. Click here to view the letter. We believe Congress is encouraging HUD to consider a delayed implementation. This bolsters MHI’s long-standard argument that HUD and the states are not in a position to enforce a law where there is recognized “debate and uncertainty as to the need for the registration and licensing of certain individuals.” The letter assists retailers and lenders in our industry. HUD is instructed to provide guidance on whether certain retail sales activities are “administrative or clerical” and therefore not subject to licensing and to clearly define “compensation or gain.” Congress directs HUD to work with NMLS and the states to reduce the licensing, education and testing burden placed on personal property finance lenders and retail sales entities and to allow such entities to sponsor their individuals on NMLS without obtaining additional licenses. Congress gives HUD the authority it has been lacking to create a de minimis exemption for seller financed or personal investment loans.

Currently, HUD has regulatory authority over the S.A.F.E. Act, but the S.A.F.E. Act is one of many laws for which jurisdiction will be transferred over to the new Consumer Financial Protection Agency. MHI will be following-up with HUD and the Conference of State Banking Supervisors to ensure the effective date of the S.A.F.E. Act for our industry will be delayed until clarification is provided. In the meantime, states can use this letter to demonstrate the congressional intent of the S.A.F.E. Act with their state banking regulators.

For more information, contact MHI Vice President of Government Affairs Jason Boehlert at 703-558-0660 or

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