US Congress House Bill 4208 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Democrat 18-7)
Status: Introduced on March 12 2014 - 25% progression, died in committee
Action: 2014-03-12 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Stabilizing FHA Loan Limit Calculations Act of 2014 - Amends the National Housing Act, with respect to the mortgage insurance eligibility of a 1-family or a 2-, 3-, or 4-family residence, to revise the formula for determining the median house price in the larger formula for determining the principal obligation of a mortgage. Declares that, for 2014 and each succeeding year, the median house price for any size residence for an area shall be considered to be the greatest median house price for such size residence for that area used by the Secretary of Housing and Urban Development (HUD) to determine the dollar amount limitation on the principal obligation for 2013, or for any succeeding year before the assignment of the Federal Housing Administration (FHA) case number for the mortgage involved. Allows the Secretary, however, to increase the maximum dollar limitation on the principal obligation of an eligible mortgage otherwise in effect for a particular size or sizes of residence in any geographic area smaller than an area for which dollar amount limitations are ordinarily determined, if a higher maximum dollar amount limitation is warranted by higher median home prices in that smaller area.

Stabilizing FHA Loan Limit Calculations Act of 2014

Rep. Gary Miller [R-CA]	Rep. Mark Amodei [R-NV]	Rep. Karen Bass [D-CA]	Rep. Ami Bera [D-CA]
Rep. Julia Brownley [D-CA]	Rep. Ken Calvert [R-CA]	Rep. Jim Costa [D-CA]	Rep. Jeff Denham [R-CA]
Rep. Tulsi Gabbard [D-HI]	Rep. Denny Heck [D-WA]	Rep. Joseph Heck [R-NV]	Rep. Michael Honda [D-CA]
Rep. Steven Horsford [D-NV]	Rep. Jared Huffman [D-CA]	Rep. Peter King [R-NY]	Rep. Carolyn Maloney [D-NY]
Rep. Jerry McNerney [D-CA]	Rep. Gloria Negrete McLeod [D-CA]	Rep. Brad Sherman [D-CA]	Rep. Eric Swalwell [D-CA]
Rep. Mark Takano [D-CA]	Rep. Mike Thompson [D-CA]	Rep. David Valadao [R-CA]	Rep. Juan Vargas [D-CA]
Rep. Maxine Waters [D-CA]

Date	Chamber	Action
2014-03-12	House	Referred to the House Committee on Financial Services.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/house-bill/4208/all-info
Text	https://www.congress.gov/113/bills/hr4208/BILLS-113hr4208ih.pdf