mr. chairman , i yield myself such time as i may consume . 
this amendment i am offering today will help low- and moderate-income families fulfill the american dream of homeownership . 
this amendment will not mandate , but encourage , the gses to purchase personal property loans secured by manufactured housing and will count towards the gse underserved market goals . 
this practice is consistent with the charters of fannie mae and freddie mac . 
in 2004 , the average income of those who purchased manufactured homes was $ 28 , 000 . 
these homes cost 30 percent less than a site-built house and are equal in quality , amenities , and efficiency . 
currently only real property loans are considered for manufactured housing purchases , but the vast majority of manufactured home buyers rent the land on which it rests . 
personal property loans are issued for the purchase of a manufactured home , but not tied to any piece of land . 
while these loans are typically financed as personal property , my amendment would allow for the gses to only purchase personal property loans that finance manufactured housing . 
in 1992 , congress set a goal for the gses to promote mortgage credit in areas where traditional credit opportunities were unavailable , inaccessible , or too costly . 
my amendment will help the gses achieve this goal by encouraging them to purchase personal property loans for manufactured housing . 
mr. chairman , this amendment will assist gses in continuing to serve home buyers in underserved areas and will encourage lenders to offer more and better loans to finance the purchase of new homes . 
it has the broad support of manufactured housing organizations as well as consumers . 
it has bipartisan support . 
i encourage my colleagues to adopt this amendment . 
mr. chairman , i yield back the balance of my time . 
