Governor Rendell signed legislation, HB 60, that creates a housing trust fund, which will enable the Pennsylvania Housing Finance Agency (PHFA) to build or rehabilitate and preserve housing for low- to moderate-income people, the elderly and people with disabilities.
The governor also signed H.B. 2547, which eliminates a dual-licensing requirement for manufactured housing.
The sponsor of the legislation, State Rep. Peter Daley, D-Fayette, said that when the Mortgage Licensing Act (Act 31 of 2009), was enacted to bring Pennsylvania into compliance with the federal SAFE Act, which set minimum standards for the licensing and registration of mortgage loan originators, little discussion took place regarding how the new language would affect retailers selling manufactured housing, who were already licensed under the Motor Vehicle Sales Finance Act.
The MVSFA, which has been in place since 1947, licenses entities such as manufactured housing retailers who engage in activities that involve the financing of titled property. But new and expansive definitional changes to the Mortgage Licensing Act now require companies that finance manufactured housing and mobile homes to hold dual licenses.
"This was duplicitous, costly and unfair," Daley said in a statement. "This law eliminates the duallicensing requirement, allowing business licenses to be retained under the MVSFA. Individual licenses, where employees are engaging in Mortgage-Licensing-Act-regulated activity, will be maintained under the act, keeping Pennsylvania in compliance with the SAFE Act."