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S. 3700 111th Congress Senate

A bill to increase the maximum mortgage amount limitations under the Federal Housing Administration mortgage insurance programs for multi-family housing projects with elevators and for extremely…

Official title: A bill to increase the maximum mortgage amount limitations under the Federal Housing Administration mortgage insurance programs for multi-family housing projec… Show full official titleShow less

Official title: A bill to increase the maximum mortgage amount limitations under the Federal Housing Administration mortgage insurance programs for multi-family housing projects with elevators and for extremely high-cost areas.

Introduced: August 4, 2010 Introduced by: Charles E. Schumer Democratic · New York See on congress.gov
Housing and Community Development Cooperative and condominium housingGovernment lending and loan guaranteesHousing finance and home ownershipHousing for the elderly and disabledLow- and moderate-income housing
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This bill died when the 111th Congress ended
It never became law before the 111th Congress (2009–2010) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 4, 2010
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Aug 4, 2010
Introduced in Senate
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 Latest action August 4, 2010

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

 Plain-English summary Congressional Research Service

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).

 Related & companion bills 1
  • HR 3527 FHA Multifamily Loan Limit Adjustment Act of 2009
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 3700: A bill to increase the maximum mortgage amount limitations under the Federal Housing Administration mortgage insurance programs for multi-family housing projects with elevators and for extremely high-cost areas.. 111th Congress. Open America. https://openamerica.io/bill/111-S-3700/
MLA
"S. 3700: A bill to increase the maximum mortgage amount limitations under the Federal Housing Administration mortgage insurance programs for multi-family housing projects with elevators and for extremely high-cost areas.." 111th Congress, 2026, Open America, https://openamerica.io/bill/111-S-3700/.
Bluebook (legal)
S. 3700, 111th Cong. (2026), https://openamerica.io/bill/111-S-3700/.
Markdown link
[S. 3700: A bill to increase the maximum mortgage amount limitations under the Federal Housing Administration mortgage insurance programs for multi-family housing projects with elevators and for extremely high-cost areas.](https://openamerica.io/bill/111-S-3700/)
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