[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5495 Introduced in House (IH)]

113th CONGRESS
  2d Session
                                H. R. 5495

    To prohibit the Federal Housing Finance Agency from reducing or 
   limiting the multifamily housing business of the Federal National 
  Mortgage Association and the Federal Home Loan Mortgage Corporation.


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                    IN THE HOUSE OF REPRESENTATIVES

                           September 16, 2014

  Mrs. Carolyn B. Maloney of New York introduced the following bill; 
       which was referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
    To prohibit the Federal Housing Finance Agency from reducing or 
   limiting the multifamily housing business of the Federal National 
  Mortgage Association and the Federal Home Loan Mortgage Corporation.

    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 ``Preserving Multifamily Housing Act 
of 2014''.

SEC. 2. PROHIBITION ON REDUCING OR LIMITING MULTIFAMILY HOUSING 
              BUSINESS OF GSES.

    Notwithstanding any other provision of law, the Director of the 
Federal Housing Finance Agency may not, acting in the Director's 
supervisory or regulatory capacity under section 1311 of the Federal 
Housing Enterprises Financial Safety and Soundness Act of 1992 (12 
U.S.C. 4511) or as conservator or receiver of an enterprise (as such 
term is defined in section 1303 of such Act (12 U.S.C. 4502)) pursuant 
to section 1367 of such Act (12 U.S.C. 4617), take any action that has 
the effect of reducing or limiting the volume or scope of the business 
of an enterprise in mortgages for multifamily housing unless--
            (1) the Director determines that there is substantial 
        evidence that such action is necessary to ensure the financial 
        safety and soundness of such enterprise;
            (2) causes such determination to be published in the 
        Federal Register; and
            (3) submits written notice of such determination to the 
        Congress.
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