Stabilizing FHA Loan Limit Calculations Act of 2014

Summary

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.

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Timeline

1. 12 March 2014

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

2. 12 March 2014

   Introduced

   Introduced in House

   Source: IntroReferral

3. 12 March 2014

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 12 March 2014 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 12 March 2014

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 12 March 2014

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 12 March 2014

  Open at official source

Sponsors

• Rep. Miller, Gary G. [R-CA-31] · R · Sponsor
• Brad Sherman · D · Sponsor
• CAROLYN MALONEY · D · Sponsor
• Ken Calvert · R · Sponsor
• Jerry McNerney · D · Sponsor
• PETER KING · R · Sponsor
• Maxine Waters · D · Cosponsor
• Eric Swalwell · D · Cosponsor
• Rep. Thompson, Mike [D-CA-4] · D · Cosponsor
• Rep. Negrete McLeod, Gloria [D-CA-35] · D · Cosponsor
• David Valadao · R · Cosponsor
• Rep. Honda, Michael M. [D-CA-17] · D · Cosponsor
• Rep. Bera, Ami [D-CA-6] · D · Cosponsor
• Julia Brownley · D · Cosponsor
• Jared Huffman · D · Cosponsor
• Mark Takano · D · Cosponsor
• Karen Bass · D · Cosponsor
• Rep. Horsford, Steven [D-NV-4] · D · Cosponsor
• Rep. Amodei, Mark E. [R-NV-2] · R · Cosponsor
• Juan Vargas · D · Cosponsor
• Rep. Costa, Jim [D-CA-21] · D · Cosponsor
• Rep. Heck, Joseph J. [R-NV-3] · R · Cosponsor
• Tulsi Gabbard · D · Cosponsor
• Jeff Denham · R · Cosponsor
• Denny Heck · D · Cosponsor
• · hsba00 · Standing

Related records

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