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HR 3527 111th Congress House Housing and Community Development Cooperative and condominium housing Government lending and loan guarantees Housing finance and home ownership Housing for the elderly and disabled Low- and moderate-income housing

FHA Multifamily Loan Limit Adjustment Act of 2009

Introduced: July 31, 2009 See on congress.gov
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 Everywhere this bill has been 9 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 16, 2009
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sep 15, 2009
Motion to reconsider laid on the table Agreed to without objection.
Sep 15, 2009
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H9522)
Sep 15, 2009
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H9522)
Sep 15, 2009
DEBATE - The House proceeded with forty minutes of debate on H.R. 3527.
Sep 15, 2009
Considered under suspension of the rules. (consideration: CR H9522-9524)
Sep 15, 2009
Mr. Adler (NJ) moved to suspend the rules and pass the bill, as amended.
Jul 31, 2009
Referred to the House Committee on Financial Services.
Jul 31, 2009
Introduced in House
 Plain-English summary Congressional Research Service

FHA Multifamily Loan Limit Adjustment Act of 2009 - 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.

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).

What's happening now September 16, 2009

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Democratic 1