Relating to manufactured housing; providing for regulation of lending practices and default for manufactured homes; specifying certain default notice requirements; providing for voluntary repossession under certain conditions; modifying cure of default provisions; providing for a right to reinstate under certain conditions, specifying notice requirements, action to repossess, termination of action and allowable costs; defining borrower, churning and manufactured home lender and manufactured home loan; providing for the occurrence of negative amortization; providing for a persons acting as a broker to be considered having crated an agency relationship, specifying duties of an agency; specifying certain standards of conduct for manufactured home lenders, exceptions; specifying certain allowed interest, points, finance changes, fees and other charges; prohibiting imposition of prepayment penalties; permitting exemptions for manufactured home loans originated by a federal or state chartered bank, savings bank or credit union; providing for a private right of action and the awarding of damages
(Ch. 273, 2008)