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Senate Passes Resolution Continuing Appropriations for FHA Multifamily Mortgage Insurance Program

Wednesday, December 10, 2003 - 1:45AM

Averting a six-week suspension of the Federal Housing Administration (FHA) multifamily mortgage insurance program and allaying concerns of the resulting effect on affordable housing, the Senate last night passed H.J.Res. 82 making further continuing appropriations for the program’s 2004 fiscal year. HUD was forced to temporarily shut down the FHA multifamily mortgage insurance program on December 4 when the $3.8 billion in commitment authority supplied in the September 30 continuing resolution was exhausted. H.J.Res. 82 increases the FHA commitment authority to $7.667 billion and should allow the agency to resume activity through January 31, 2004. Click here for a copy of H.J.Res. 82.

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