US Congress House Bill 3527 (Prior Session Legislation)

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Spectrum: Moderate Partisan Bill (Democrat 5-1)
Status: Engrossed on September 16 2009 - 50% progression, died in chamber
Action: 2009-09-16 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Text: Latest bill text (Engrossed) [PDF]

FHA Multifamily Loan Limit Adjustment Act of 2009 - (Sec. 2) 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. (Sec. 3) 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). (Sec. 4) States that this Act applies to mortgages insured under Title II of the National Housing Act after September 30, 2009.

FHA Multifamily Loan Limit Adjustment Act of 2009

Rep. Barney Frank [D-MA]	Rep. Carolyn Maloney [D-NY]	Rep. Gary Miller [R-CA]	Rep. Brad Sherman [D-CA]
Rep. Albio Sires [D-NJ]	Rep. Anthony Weiner [D-NY]

Date	Chamber	Action
2009-09-16		Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
2009-09-15		Motion to reconsider laid on the table Agreed to without objection.
2009-09-15		On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H9522)
2009-09-15		DEBATE - The House proceeded with forty minutes of debate on H.R. 3527.
2009-09-15		Considered under suspension of the rules. (consideration: CR H9522-9524)
2009-09-15		Mr. Adler (NJ) moved to suspend the rules and pass the bill, as amended.
2009-07-31		Referred to the House Committee on Financial Services.

SB3700 (Related) 2010-08-04 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Type	Source
Summary	https://www.congress.gov/bill/111th-congress/house-bill/3527/all-info
Text	https://www.congress.gov/111/bills/hr3527/BILLS-111hr3527ih.pdf
Text	https://www.congress.gov/111/bills/hr3527/BILLS-111hr3527eh.pdf