Legislation Introduced to Index FHA Multifamily Mortgage Loan Limits to Inflation
Bipartisan legislation was introduced yesterday in the Senate to index Federal Housing Administration (FHA) multifamily mortgage loan limits to inflation and adjust the limits in some very high cost cities. The proposal is intended to increase the supply of new rental housing by allowing FHA loan limits to keep pace with construction and land costs over time. S. 2841, introduced by Senators Jon Corzine (D-N.J.), Thomas Carper (D-Del.), John Ensign (R-Nev.) and Wayne Allard (R-Colo.), was referred to the Senate Committee on Banking, Housing and Urban Affairs.