Next Step Statement on Dodd-Frank Rollbacks

Contact: Grant Beck, Marketing and Communications Manager
Phone: (202) 851-7550

LOUISVILLE, KY – Yesterday, Congress passed S. 2155, the Economic Growth, Regulatory and Consumer Protection Act. The bill rolls back several parts of the financial and banking regulations enacted by the Dodd–Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank). President Trump signed the legislation shortly thereafter.

The bill contains provisions with impacts specific to the manufactured housing industry. Notably, the legislation removes regulations on how manufactured housing retailers can interact with prospective home buyers looking to secure financing for their home purchase. Under Dodd-Frank, retailers are not allowed to direct prospective buyers toward specific lenders or loan products – a practice referred to as “steering”. With the passage of S. 2155, retailers are given more leeway to advise buyers to pursue financing from specific lenders or to use certain loan products.

While this may ease the manufactured home buying process for well-prepared and financially savvy consumers, Next Step continues our focus on helping prospective home buyers – particularly those very low- and low-income buyers – navigate the purchase process to ensure that consumers understand their options and can make financial decisions that best meet their needs.

This legislation also comes at a time when Freddie Mac and Fannie Mae are demonstrating a commitment to strengthening the manufactured housing market. Eroding existing regulations could undermine the growing confidence in the market. All stakeholders should continue to take steps to prioritize energy-efficiency, innovation and affordability in the market.

We look forward to continuing our work with our partners in the manufactured housing industry, financial field and nonprofit sector to expand affordable, sustainable housing opportunity in more communities.


About Next Step® Network
Next Step Network mobilizes a national network of mission-driven nonprofits, leaders in the manufactured housing industry and lending institutions serving home buyers and homeowners in their communities. Next Step’s system – Manufactured Housing Done Right® – connects responsible financing, comprehensive homebuyer education and delivery of high-quality, ENERGY STAR® manufactured homes at scale, creating a model that brings more value to the customer. Learn more at