Homeownership Affordability Act

[AI summary unavailable — showing source text] [Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 3862 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. 3862 To modify the multifamily loan limits under title II of the National Housing Act, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES March 5, 2024 Mr. Menendez introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs _______________________________________________________________________ A BILL To modify the multifamily loan limits under title II of the National Housing Act, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Homeownership Affordability Act''. SEC. 2. MULTIFAMILY LOAN LIMITS. Title II of the National Housing Act (12 U.S.C. 1707 et seq.) is amended-- (1) in section 206A (12 U.S.C. 1712a)-- (A) in subsection (a), in the matter following paragraph (7), by striking ``(commencing in 2004'' and all that follows through the period at…