Trump To Sign Housing Bill Into Law Today; Boosts Manufactured, Modular Housing

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Trump To Sign Housing Bill Into Law Today; Boosts Manufactured, Modular Housing

TD Securities (USA) LLC POLICY NOTE

June 24, 2026

■WRG Financial Services Trump To Sign Housing Bill Into Law Today;

Boosts Manufactured, Modular Housing

Jaret Seiberg THE TD COWEN INSIGHT

202 868 5313

President Trump is set today at noon to sign into law a bill that would boost manufactured

jaret.seiberg@tdsecurities.com

housing, help modular housing, limit institutional ownership of single-family rental homes

and expand the amount of reciprocal deposits that banks can hold. This bill will not solve the

housing affordability crisis but shows Congress is focused on the problem which is why we

expect a bigger bill next year.

What Is Happening

President Trump is scheduled today at noon ET to sign into law the housing package.

Our View

■This is positive for manufactured housing.

■It is positive for build-to-rent single family construction as it carves this out of the

institutional ownership cap.

■The bill does not resolve the housing affordability crisis. Provisions may help but mostly at

the margins.

■It does, however, set the stage for more comprehensive legislation next year. That could

include subsidies to build lower cost homes, funds to renovate existing units, down payment

assistance and apprenticeships to teach construction skills.

■The reciprocal deposit boost helps mid-size banks especially during times of stress.

Details

■Eliminates the permanent chassis requirement for manufactured housing.

■Establishes HUD as the primary regulator of modular housing.

■Requires FHA to assess barriers to loans for modular housing.

■Bars institutional investors -- defined as those owning more than 350 single-family rentals --

from buying more single-family rentals.