legislation: 96-s-2178

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
96-s-2178 96 s 2178 A bill to amend section 313 of the National Housing Act. Housing and Community Development 1979-12-20 1979-12-20 Referred to Senate Committee on Banking, Housing and Urban Affairs. Senate Sen. Weicker, Lowell P., Jr. [R-CT] CT R W000253 0 Amends the National Housing Act to authorize the Secretary of Housing and Urban Development to direct the Federal National Mortgage Association, when specified economic conditions exist, to make commitments to purchase, and to purchase mortgages to promote the construction of multifamily rental housing. Eliminates the requirement that such a mortgage purchase involve an original principal obligation not to exceed a specified dollar amount limitation. Stipulates that, in the case of a one-to four-family dwelling, such mortgage may be purchased only if it involves a principal residence the sales price of which does not exceed 120 percent of the appropriate mortgage dollar amount limitation set forth in such Act, except that the Secretary may increase any such dollar amount limitation by an amount not to exceed 25 percent in any geographical area where he finds that cost levels require such action. 2025-01-14T18:20:21Z  

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