Last month, Senators Ruben Gallego (D-AZ) and David McCormick (R-PA) introduced S. 1527, the Housing Affordability Act. This important piece of legislation would increase the housing supply and the volume of FHA-backed multifamily loan activity by updating the outdated loan limits that restrict lending amounts per apartment unit and by establishing a new index for the designation of “high-cost” areas that accurately reflects the costs of apartment construction.   

Why it matters: Your advocacy matters! In April, MBA’s National Advocacy Conference 2025 attendees participated in 285 meetings with individual House and Senate offices – and once again explained to lawmakers the need to update FHA Multifamily programs to keep pace with the housing market. The reintroduction of this bipartisan measure is in direct response to those efforts.   

What’s next: With your help, the Housing Affordability Act could gain a robust list of Senate cosponsors, which would encourage the Senate Banking Committee to vote on the legislation for inclusion in a housing package this summer.  MBA will also continue to work to build support with lawmakers to introduce a companion bill in the House.  View the coalition letter sent to Senators Ruben Gallego (D-AZ) and David McCormick (R-PA) on May 13, 2025.

Tell your Senators TODAY to cosponsor S. 1527!