Representatives of the Mortgage Bankers Association of America were among those who provided testimony backing the bill. "Without higher FHA multifamily loan limits in high-cost markets, critical housing needs will go unmet," MBA member and Berkshire Management Finance senior vice president Linda Cheatham explains. "Low and moderate-income families, including important community and public service providers like teachers and police officers will be denied the affordable rental housing they need." The subcommittee approved the legislation via a voice vote. HR 1985 will now continue to work its way through the congressional lawmaking system.
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