Amendment sought to repeal the emergency authority that allows the FHA to insure loans up to $720,000 in certain high cost areas. The amendment also sought to create a maximum loan limit of $500,000 for a single family unit and a percentage of the same ratio for 2-, 3- or 4-family residences.

Purpose:

An amendment numbered 9 printed in House Report 111-503 to repeal the emergency authority that allows the FHA to insure loans up to $720,000 in certain high cost areas. The amendment would create a maximum loan limit of $500,000 for a single family unit and a percentage of the same ratio for 2-, 3- or 4-family residences.

House Amendment Code:

(A009)

House Tally Clerks use this code to manage amendment information.