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H.R. 3527 · 111th Congress

FHA Multifamily Loan Limit Adjustment Act of 2009

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Passed the House without a recorded vote, then expired. It passed by voice vote or unanimous consent, which don't record how each member voted, but didn't become law before the 111th Congress ended.

AWD WeinerSponsor
5 cosponsors · 4 D, 1 R
BFD Frank GMR Miller CMD Maloney ASD Sires BSD Sherman

2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

  1. House Introduced Jul 31, 2009
  2. House Passed Sep 15, 2009

FHA Multifamily Loan Limit Adjustment Act of 2009 - (Sec. 2) Amends the National Housing Act to revise the maximum mortgage loan principal amounts the Secretary of Housing and Urban Development (HUD) may insure for elevator-type multifamily structures for: (1) rental housing; (2) cooperative housing; (3) rehabilitation and neighborhood conservation housing;…

What it does: CRS summary · Passed House amended · Sep 15, 2009

FHA Multifamily Loan Limit Adjustment Act of 2009 - (Sec. 2) Amends the National Housing Act to revise the maximum mortgage loan principal amounts the Secretary of Housing and Urban Development (HUD) may insure for elevator-type multifamily structures for: (1) rental housing; (2) cooperative housing; (3) rehabilitation and neighborhood conservation housing; (4) housing for moderate income and displaced families; (5) housing for elderly persons; and (6) condominiums.

Replaces the current specific dollar amount limitations per family unit by which the insurable mortgage principal obligation for elevator-type multifamily structures may be increased. Prescribes instead an increase limitation per family unit of up to 50% higher than the corresponding limitations for non-elevator-type multifamily structures.

(Sec. 3) Authorizes the Secretary to prescribe a higher maximum (up to 50%) for the principal obligation of mortgages insured for multifamily projects located in an extremely high-cost area (similar to that for mortgage insurance for property in Alaska, Guam, Hawaii, and the Virgin Islands).

(Sec. 4) States that this Act applies to mortgages insured under Title II of the National Housing Act after September 30, 2009.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: FHA Multifamily Loan Limit Adjustment Act of 2009

Latest action (Sep 16, 2009): Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Policy area: Housing and Community Development · Origin: House · Introduced: Jul 31, 2009

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

  1. House Introduced Jul 31, 2009
  2. House Passed Sep 15, 2009

No recorded floor vote found.