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Legislation Introduced to Increase FHA Loan Limits

Friday, July 13, 2001 - 1:45AM

Legislation to increase the Federal Housing Administration loan limits by 25 percent was introduced in the U.S. Senate yesterday. Senators Jon Corzine (D-N.J.) and Thomas R. Carper (D-Del.) are sponsoring the bill. The legislation is similar to a measure, H.R. 1629, introduced in the House of Representatives by Marge Roukema (R-N.J.) and Barney Frank (D-Mass.) The Coalition for Affordable Rental Housing praised the move, calling it a critical step toward addressing the nation’s rental housing needs and Mortgage Bankers Association president Andrew D. Woodward called on both the Senate and the House to pass the legislation swiftly.

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