X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON, DC-After hearing testimony, the Subcommittee on Housing and Community of the US House of Representatives’ Financial Services Committee signed off on the FHA Multifamily Loan Limit Adjustment Act of 2003. Also known as HR 1985, the legislation–which calls for the increasing of the maximum mortgage amount limit for FHA-insured mortgages on multifamily housing in high-cost markets–would ultimately enhance affordable housing availability for low-income and moderate-income dwellers.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.