HR 4208 · 113th Congress 2013–2015, ended

Stabilizing FHA Loan Limit Calculations Act of 2014

Introduced Mar 12, 2014 Originated House Sponsor Gary G. Miller R-CA

Fact sheet Spreadsheet

Latest action · Mar 12, 2014 Referred to the House Committee on Financial Services.

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

  1. IntroducedMar 12, 2014
  2. Passed HouseNot reached
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

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.

Cosponsors 24

Members who signed on, in the order they did. Signatures ran from Mar 12, 2014 to Nov 12, 2014; 5 are original cosponsors, there from the day it was introduced.

SeatCosponsorSigned on
D-CABrad ShermanOriginalMar 12, 2014
D-NYCarolyn B. MaloneyOriginalMar 12, 2014
D-CAJerry McNerneyOriginalMar 12, 2014
R-CAKen CalvertOriginalMar 12, 2014
R-NYPeter T. KingOriginalMar 12, 2014
D-CAEric SwalwellMar 24, 2014
D-CAGloria Negrete McLeodMar 24, 2014
D-CAMaxine WatersMar 24, 2014
D-CAMike ThompsonMar 24, 2014
D-CAAmi BeraMar 25, 2014
R-CADavid G. ValadaoMar 25, 2014
D-CAJulia BrownleyMar 25, 2014
D-CAMichael M. HondaMar 25, 2014
D-CAJared HuffmanApr 1, 2014
D-CAKaren BassApr 28, 2014
D-CAMark TakanoApr 28, 2014
D-NVSteven HorsfordMay 7, 2014
R-NVMark E. AmodeiMay 9, 2014
D-CAJuan VargasMay 29, 2014
D-CAJim CostaJun 9, 2014
R-NVJoseph J. HeckJun 11, 2014
D-HITulsi GabbardJul 8, 2014
R-CAJeff DenhamSep 9, 2014
D-WADenny HeckNov 12, 2014

Committees 1

Where it was sent and what each committee and subcommittee did with it, in order.

ChamberCommitteeWhat it did
HouseFinancial Services Committee
Referred Mar 12, 2014

Actions 2

Everything that happened, newest first.

  1. Mar 12, 2014Introduced in House
  2. Mar 12, 2014Referred to the House Committee on Financial Services.

In the Congressional Record 1

Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.

WhereIn the RecordMembersDate
HouseLists H2361H.R. 4208–4224—Mar 12, 2014

Research

What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.

Constitutional authority

Congress has the power to enact this legislation pursuant to the following: Article 1, Section 8, Clause 3, the Commerce Clause, of the United States Constitution.

The sponsor’s statement, as printed in the page H2361.

Printed hearings 1

Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.

NumberHearingCommitteeHeld
Serial No. 113-3REAUTHORIZATION OF THE MAGNUSON-STEVENS FISHERY CONSERVATION AND MANAGEMENT ACT109 pagesNatural Resources CommitteeMar 13, 2013

Titles 2

Every title it has carried, official and short, at each stage.

Official Title as Introduced
To ensure stability in FHA maximum mortgage amount limitations for areas experiencing decreases in median home prices.
Short Titles as Introduced
Stabilizing FHA Loan Limit Calculations Act of 2014

Subjects

Assigned by the Library of Congress. Policy area: Housing and Community Development.

Text 1

Each version as it was printed, newest first.

  1. Mar 12, 2014Introduced in House

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.