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Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

Stabilizing FHA Loan Limit Calculations Act of 2014

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To ensure stability in FHA maximum mortgage amount limitations for areas experiencing decreases in median home prices.


Actions Overview (1)

Date
03/12/2014Introduced in House

All Actions (2)

Date
03/12/2014Referred to the House Committee on Financial Services.
Action By: House of Representatives
03/12/2014Introduced in House
Action By: House of Representatives

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Financial Services03/12/2014 Referred to

No related bill information was received for H.R.4208.


Subjects (3)


Latest Summary (1)

There is one summary for H.R.4208. View summaries

Shown Here:
Introduced in House (03/12/2014)

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.