Sec. 111. Reduction of enterprise conforming loan limits
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(2)of section 302(b) of the Federal National Mortgage Association Charter Act ( 12 U.S.C. 1717(b)(2) ) is amended by striking the 7th through 11th sentences and inserting the following: Such limitations shall not exceed $417,000 for a mortgage secured by a single-family residence, $533,850 for a mortgage secured by a 2-family residence, $645,300 for a mortgage secured by a 3-family residence, and $801,950 for a mortgage secured by a 4-family residence, except that such maximum limitations shall be adjusted effective January 1 of each year beginning after the effective date of the . New Fair Deal Banking and Housing Stability Act of 2013 , subject to the limitations in this paragraph. Each adjustment shall be made by subtracting from such amount (as it may have been previously adjusted) an amount equal to 20 percent thereof. Paragraph
(2)of section 305(a) of the Federal Home Loan Mortgage Corporation Act ( 12 U.S.C. 1454(a)(2) ) is amended by striking the 6th through 10th sentences and inserting the following: Such limitations shall not exceed $417,000 for a mortgage secured by a single-family residence, $533,850 for a mortgage secured by a 2-family residence, $645,300 for a mortgage secured by a 3-family residence, and $801,950 for a mortgage secured by a 4-family residence, except that such maximum limitations shall be adjusted effective January 1 of each year beginning after the effective date of the . New Fair Deal Banking and Housing Stability Act of 2013 , subject to the limitations in this paragraph. Each adjustment shall be made by subtracting from such amount (as it may have been previously adjusted) an amount equal to 20 percent thereof.
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